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Global talent leader WilsonHCG announces integration of Profile and Personify brands

--Tampa, Fla -- WilsonHCG, a global talent solutions leader, is pleased to announce that two of its brands, Profile Search & Selection (Profile) and Personify, are being fully integrated into WilsonHCG in the coming weeks. The integration follows the acquisitions of Profile and Personify, which closed in 2020 and 2023, respectively. Profile is an executive search firm with offices throughout Asia. Personify is an RPO provider that specializes in life sciences, healthcare, biotech and pharmaceuticals.  This is a significant step for WilsonHCG as it continues to expand its global market presence and breadth of talent solution offerings.  "We’re looking forward to this final stage of the integration as we bring the Profile and Personify brands into WilsonHCG,” said John Wilson, CEO of WilsonHCG. "It's clear our combined capabilities have strengthened the organization and contributed to our success. To reinforce our market position and continue thriving, we will further integrate the brands externally.”  Following the integration, clients of Profile and Personify will receive the same high-quality talent solutions they’ve come to expect.   "We are excited for the opportunities that lie ahead," said Andrew Oliver, co-founder of Profile and now EVP, head of Asia Pacific, at WilsonHCG. "Our combined expertise will propel us to new heights in the APAC region.” Ryan Carfley, founder of Personify and now SVP, delivery at WilsonHCG, added, “This integration will give our clients access to a broader range of talent solutions. I'm thankful to be part of this chapter in WilsonHCG’s history and see what we're able to accomplish from here.” The integration of Personify will be completed by May 26, and the integration of Profile will be completed later this year. Personify's executive search division, Mackenzie Ryan, will also be part of the brand integration. For more information, please visit ​​Media contactKirsty Hewitt | +44 7889901517 | +1 813-418-4479 | kirsty.hewitt@wilsonhcg.comContact Kirsty
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WilsonHCGは、自社ブランドのProfile Search&Selection(Profile)およびPersonifyの2つのブランドが、今後数週間で完全にWilsonHCGに統合されることをお知らせいたします。 この統合は、2020年に完了したProfileの買収と、2023年に完了したPersonifyの買収に伴うものです。Profileは、アジア全域にオフィスを構えるエグゼクティブサーチファームであり、Personifyは、ライフサイエンス、ヘルスケア、バイオテクノロジー、医薬品に特化したRPOプロバイダーです。 WilsonHCGは、グローバルな市場存在感と人材ソリューションの提供幅を拡大し続ける中で、この重要な一歩を踏み出します。「ProfileとPersonifyのブランドをWilsonHCGに統合していくこの最終段階を楽しみにしています。この統合は組織を強化し、私たちの成功に貢献しています。市場のポジションを強化し、引き続き成長するために、さらに外部のブランドを統合していきます。」と、WilsonHCGのCEOであるJohn Wilsonは述べています。 統合後もProfileとPersonifyのクライアントは、変わらぬ高いクオリティの人材ソリューションを提供されます。「私たちは、この先にあるチャンスにわくわくしています。統合により組み合わさったた専門知識で、アジア太平洋地域において新しい高みに立つことでしょう。」と、Profileの共同創業者であり、現在はWilsonHCGのアジア太平洋地域のEVPであるAndrew Oliverは述べています。Personifyの創設者であり、現在はWilsonHCGのSVP、デリバリーのRyan Carfleyも、「この統合により、クライアントはより幅広い人材ソリューションにアクセス可能になります。WilsonHCGの歴史のこの章の一部であることに感謝し、そしてここから何を達成できるかを見ていきたいと思います。」 Personifyの統合は5月26日までに完了し、Profile の統合は今年後半に完了する予定です。Personifyのエグゼクティブサーチ部門のMackenzie Ryanもブランド統合を担う一人です。 詳細については、www.wilsonhcg.comをご覧ください。
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Tech Market Update: 2023 starts off shaky after a turbulent 2022

Tech layoffs are contributing to the crypto winter After the last few years of unprecedented growth, the global tech market has been fraught with layoffs. It started with the crypto crash in May last year and swiftly affected the rest of the tech industry. From big tech to startups, companies have been announcing layoffs since the second half of 2022. This has continued into 2023. The Asia region, being a major part of the tech ecosystem, has not escaped the layoffs. ​US-headquartered companies, such as Amazon, Meta, Google, Microsoft, Salesforce, Twilio and Zoom, are not the only ones laying off employees. Asian headquartered players such as GoTo Group, Carousell and Glints have also made layoffs. Flash Coffee and Sea Group have also reportedly reduced headcount.​, a cryptocurrency exchange company based in Singapore, revealed in January 2023 that it has “made the difficult decision to reduce its global workforce by approximately 20%”. These announcements have not come out of the blue though, especially when you consider the current “crypto winter” (used to describe the global crypto market cooling). The recent collapse of FTX and the tech-heavy Nasdaq’s disappointing end to the year (finishing with four consecutive negative quarters, which only happened back in 1983-84) has contributed to the downturn. ​With a global recession looming, constant talks of interest rate hikes, ongoing supply chain challenges and the Russia-Ukraine war, it is not surprising that many businesses are feeling jittery about what lies ahead.​The Asia region may avoid a recession, but if Europe and the US experience a downturn, demand will likely slow and this will undoubtedly have an impact on growth in APAC. Organisations in the tech industry (including startups) have spent the last few years on a massive hiring spree and many over-invested. The recent raft of layoffs is merely a way for those companies to rebalance from the last few hectic years. ​So, what is in store for the tech industry over the next few months? Read on to find out. ​Industry trends > Organisations in the tech sector are tightening their belts and have reduced spending.​> Hiring activity has fallen and many companies are not replacing employees that leave voluntarily.​> Following years of “growth at all costs”, tech companies have shifted their approach due to economic uncertainty and are now focusing on prudence, harmonisation, optimization and profitability.​> We expect M&A activity to rise over the coming months as organisations take a more strategic approach to growth. We have also seen a lot of non-tech companies treat the recent spate of layoffs in tech as an opportunity to acquire talent that has been impacted by restructuring.​> Another observation from the last few months is that some special projects and new product development initiatives have been put on hiatus as companies and investors from the VC and PE firms monitor the market and err on the side of caution.​What do tech candidates in APAC want?​More stability: Candidates want job stability, which isn’t surprising given the current economic climate. Besides a robust balance sheet, candidates want to work for companies with a long-term vision for growth and sustainability. ​A return to traditional industries and multinationals (MNCs): Increasingly, candidates across APAC are turning back to explore roles within more traditional industries, as part of risk mitigation. Candidates’ risk appetite is waning as they prepare for a possible economic recession.​Competitive remuneration packages: Regardless of the uncertain market climate, candidates still expect competitive remuneration package from employers. This especially holds true for candidates who are currently employed, with no strong push factors. ​In-demand tech skills ARTIFICIAL INTELLIGENCE (AI), MACHINE LEARNING (ML) AND WEB 3.0: Thanks to the recent chatter and excitement around ChatGPT, generative AI is the current buzz in the tech world and looks to be here for the long haul. Engineers skilled in AI, ML and data science are well positioned to ride this trend. IT OPERATIONS: From network infrastructure to applications and cloud hosting, candidates with IT operations expertise remain highly sought after. This skillset was in high demand during the pandemic, when virtual working became the norm because of pandemic-enforced lockdowns. And remote work is something a lot of candidates still want despite the pandemic-related restrictions coming to an end. Many companies have launched hybrid work programs as a result so that candidates get to split their time between the office and working remotely. In addition, as many companies plan to optimise their current systems and processes, IT operations roles will only grow in popularity this year. INFORMATION AND CYBERSECURITY: As a result of the shift to remote work during the pandemic, companies now have advanced, complex networks and store more data in the cloud than ever before. Keeping their networks and data safe is top priority for all companies, especially when you consider that organisations in APAC are attacked 51 times per week, on average, data from Check Point revealed. And organisations that are planning to optimise and consolidate their networks and tech platforms over the coming months will need candidates with cyber skills to ensure security is top of mind. DATA SCIENCE, ENGINEERING AND MANAGEMENT: Data professionals with experience in data collection, organisation and storage (in a way that is efficient and secure) continue to be in demand. Many companies are looking for tech professionals with data analysis and information security experience as well as roles like data architects and data engineers..TRANSFORMATION AND COMMERCIAL (DIRECT REVENUE-GENERATING) ROLES: Tech candidates with expertise in transformation and commercial roles are highly sought after. A lot of companies undergo transformation during periods of uncertainty to generate efficiencies and we have already seen a rise in demand for candidates with these skillsets. We expect demand to soar further in the coming months. ​Recent PlacementsUS based Global Commodity CompanyRegional Technology Risk & Security Manager, APACGlobal Education GroupRegional IT Director, APACUS based Medical Device CompanyHead of IT, APACGeospatial Analytics CompanySoftware Engineering Director​European Shipping and Logistics companyRegional IT Security Manager, APAC​Global Optoelectronics Manufacturing CompanyIT Director, Asia​Global Renewable Energy Manufacturing CompanySenior Director, Infrastructure and Cloud ServicesAirlines & AviationSenior IT Security Manager​Portfolio Investment GroupAssociate Director, Cybersecurity Solution ArchitectLuxury Retail CompanySenior IT Manager, AsiaGlobal Provider of Technology Services, Products and SolutionsGlobal IT Director, ApplicationsStartup TeleHealth CompanyChief Product Officer​2023 will be the year of correction 2023 will be the year of correction and realignment. Many companies will embark on change, transformation initiatives and reorganisation programs in response to the evolving market conditions. Despite predictions that APAC will escape a recession this year, a downturn in Europe and the US is likely, which will inevitably impact growth in the region. So, it comes as no surprise to learn that organisations will be focusing on boosting performance, innovation and, ultimately, the bottom line as they navigate a possible global recession. ​One thing that is abundantly clear is that the Great Resignation and “quiet quitting” phenomena that we have seen over the past year may become less relevant corporate themes in 2023. The pendulum has swung (even if just a little) from a candidate market to an employer market. Although the latter half of 2022 was reminiscent of the dot-com crash seen in the early 2000s, it is not all doom and gloom. There are still pockets of tech hiring across various industries. Despite the macroeconomic headwinds, for companies to thrive, seeking top talent continues to be an infinite game. ​About the author​Karen Yap |​+65 6513 2542​With more than 16 years of executive search experience, she focuses on hiring for mid to senior level mandates within the APAC region, covering the following specialist functions:- Digital & Technology- Commercial: S&M- Strategy & General Management​She works with global multinationals, locally based conglomerates and Startups, with clients coming from consumer lifestyle, technology and professional services sector.​If you wish to discuss any of the observations in this report, please don’t hesitate to reach out to Karen.Key contactsAcross our five regional offices, we provide access to a longstanding network throughout Asia. Speak with our experienced consultants today to learn more.​SINGAPORE​Karen​HONG KONGPaul​SHANGHAI / BEIJINGNicole LiAssociate​TOKYOJonathan NaylorAssociate​​Download the full report here.
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2023 APAC Risk Management Market Survey

Introduction and overviewAs many companies and economies emerged from the challenges and restrictions of the COVID-19 pandemic, 2022 saw significant activity within risk management functions. In light of this, Profile surveyed a range of risk professionals across the Asia Pacific region to better understand the current trends and opinions on a multitude of topics including hiring, market concerns and diversity progress.​​​​24% of respondents consider themselves to belong to a diverse or underrepresented groupSentimentOverall, sentiment within the risk function improved in 2022. Almost half (48%) of respondents said they feel the function is more valued than it was 12 months ago compared with 17% who feel the function is now less valued. Similarly, nearly 45% feel the risk culture across all three lines of defence has improved versus 12% who feel it has deteriorated. With several headwinds expected in 2023, risk functions will increasingly be called upon to manage new and challenging situations. Therefore, the perception of, and value placed upon, risk management will only continue to grow in importance. As one respondent noted, “in light of the current situation, people are more aware of the contribution from their risk colleagues”. Exactly how these challenges materialise and evolve remains to be seen, however, confidence among the risk management community continues to be relatively high, with 58% of respondents either somewhat confident, or very confident, in the function’s ability to weather the challenges of the coming 12 months.​Diversity, equity, inclusion and belonging (DEIB)Diversity, equity, inclusion and belonging is still a major consideration for risk management leaders (as well as wider business leaders) and the conversation in Asia continues to evolve beyond gender and into other areas including disability, ethnicity and sexual orientation. For many hiring managers, improved diversity of the risk function is no longer just a desired outcome but a must-have with concerted efforts during the hiring process focused on ensuring a diverse shortlist of candidates are presented and interviewed. That is not to say that there haven’t been challenges in maintaining the positive momentum seen in this space, with COVID-19 and associated external pressures impacting the ability to improve diversity initiatives as much as desired. In fact, 24% of respondents felt that in light of the external challenges the organisation and risk function have faced, they have not been able to dedicate as much resource to their diversity initiatives.​​Location strategyThere were plenty of headlines – and even more behind the scenes conversations – throughout 2022 as to the evolving location strategy of businesses across APAC. As a result, we have seen a shift in favour of Singapore versus Hong Kong both in terms of strategic importance and hiring activity, as can be seen later in the report.​However, with an evolving COVID-19 strategy and the associated reopening of Hong Kong, it will be interesting to see if the city will be able to attract new and returning talent and recoup some of the skills it lost during 2022. Equally, with the cost of living increasing significantly in Singapore, inward migration may dwindle during 2023 as the economic benefits of working in the city state become less evident.​Elsewhere, Mainland China ranks as the third most strategically important location for respondents followed by Australia & New Zealand and India a more distant fourth and fifth respectively. Japan continues to operate as something of a satellite location, with Asia ex-Japan operating models observed in many organisations.​Around 9,400 permanent roles were expected to have been created in Singapore in 2022, according to a report by PERSOLKELLY and government agency, SkillsFuture Singapore.​​Operating structureThe operating model of risk functions and their relationship with compliance continue to evolve in many organisations, albeit not at the same pace as we have seen historically. Nearly half (43%) of the respondents noted that risk and compliance now operate as either a fully, or partly combined function.​​​Trends and challengesWith myriad external developments and challenges increasing the pressure on risk management functions, it is no surprise that we have seen an increase in focus upon a range of new and emerging risk types. For example, climate risk has now gained a foothold in regional functions. Some 62% of respondents said their organisation now has a dedicated ESG/climate risk lead versus 14% who expect one to be appointed next year and 24% who don’t believe their organisation plans to appoint one in the coming 12 months. Other risks cannot be overlooked and the expected economic headwinds for the year ahead mean risk types such as credit risk, technology risk and political risk remain significant areas of potential concern.​​​​The aforementioned challenges that risk management functions are likely to face over the coming 12 months are broad and will evolve throughout 2023, however, the top five challenges include:​1. Economic pressures2. Geopolitical developments3. Talent shortages 4. Cost pressures5. Increased market/price volatility​Talent and hiring trends2022 saw significant hiring activity across the APAC risk management market with many firms and functions capitalising on reduced COVID-19 restrictions and subsequent improved market conditions in most locations. A detailed review of the people moves made throughout 2022 can be found on page seven. The picture for 2023 looks mixed, however, with just over a third of respondents indicating that they expect headcount in their risk functions to increase over the next 12 months.​Hiring in 2023 is expected to remain focused on emerging risk types with climate risk and technology risk roles the most likely to increase. Conversely, enterprise risk was the most expected to witness a reduction in headcount.​Beyond the range of geopolitical and fiscal pressures that risk functions will face during 2023, one of the biggest challenges to their growth and success is finding the right talent. 83% of respondents feel at least somewhat concerned about the current shortage of talent in the region while 37% expect they will have to adjust their talent attraction and hiring practices as a result.​Identifying talent with skillsets that go beyond the requisite technical knowledge is of course not a new practice, but we are continuing to see increasing emphasis put on behavioural and cultural fit during the interview process.​​TOP 5 GROWTH RISKS1. Climate risk2. Technology risk3. Operational risk4. Investment/portfolio risk5. Market risk​TOP 5 CONCERNS FOR HIRING MANAGERS1. Fundamental skills shortages2. Budget constraints3. Competing job offers4. Interpersonal/soft skills5. Speed of hiring processesTOP 3 ATTRIBUTES HIRING MANAGERS LOOK FOR1. Stakeholder management2. Ability to influence3. Willingness to embrace change​People moves analysisOverall, 2022 saw an increased level of activity, especially in the first half of the year as firms battled to add headcount and improve skillsets in certain areas following two years of muted activity during the COVID-19 pandemic.​Activity was seen to be higher in Singapore in both buy-side and sell-side institutions as the city state capitalised on greater restrictions and uncertainty in Hong Kong to attract overseas talent.​We saw a greater level of activity for gender diverse candidates, with this accounting for 36% of people moves in 2022 versus 24% in 2021. There was very little difference observed in the diversity of people that moved across Hong Kong and Singapore.​Non-financial risk and some emerging risks continue to see the greatest mobility of gender diverse talent while risk types such as credit, market and technology continue to see male talent making up well over 50% of the observed moves.​Credit risk notably stood out as the most active risk type for hires and internal moves. Credit risk has previously been one of the more stable risk types in this regard, however, significant uncertainty in areas such as China real estate has forced banks to increase (or upgrade) their headcount and capabilities.2022 also saw a notable increase in the number of external moves as candidates’ appetite to move to another firm increased with the improved market conditions and hiring managers subsequently capitalised on the greater levels of strong talent in the market. Overall, 65% of the observed people moves across buy and sell-side were external.​In the buy-side, we saw a significant focus on hiring investment and portfolio risk professionals, both into existing teams and newly created functions.*This analysis applies to observed people moves within the second line of defence at major financial institutions across Hong Kong and Singapore, at the VP (Vice President) level (or equivalent) and above.​​Looking aheadIt is reasonable to expect that 2023 will look noticeably different to 2022 as wider market sentiment weighs down on risk functions across the region. While there remains cautious optimism for many risk professionals for an improvement in economic conditions, many firms and risk functions are bracing themselves for a turbulent 12 months ahead. This will mean not only difficult day-to-day management of risk, but also challenges within the hiring market. We expect total hiring levels across the region to be reduced compared with 2022 and for candidates to remain active in their searches, but to become increasingly selective in the opportunities they pursue – as was the case in 2020 and 2021. As such, hiring managers will need to ensure their talent attraction strategies and recruitment processes are optimised so that they can capitalise on the best talent.​Beyond the challenges, there are also several opportunities for the risk function to develop and operate more effectively, and those that adapt best will be best placed to manage the coming 12 months:1. Improved synergies across risk and other functional areas2. Greater collaboration across all three lines of defence3. New and emerging technologies​About the authorJonny Warner brings a decade of executive search experience to the team executing mandates in London and across Asia. He is a specialist within infrastructure/corporate functions with a particular focus on risk management, finance, operations and technology.​Prior to Profile, Jonny worked at a leading search firm in its Hong Kong and London offices delivering senior level mandates across the region. Outside of work, Jonny’s passion to reduce ocean plastics led him to establish Deep Blue Straws as part of his mission to replace plastic straws with environmentally friendly alternatives.​​If you wish to discuss any of the observations in this report, please don’t hesitate to reach out to Jonny.​Key contactsAcross our five regional offices, we provide access to a longstanding network throughout Asia. Speak with our experienced consultants today to learn more. ​HONG KONGJonny WarnerAssociate Director+852 3589​SINGAPORE​Stanley TeoManaging Director+65 6513 2575steo@profileasia.comSHANGHAI​ / BEIJINGAndy ZhiDirector+86 21 6080​TOKYONicolas RumebeDirector+81 90 3814​​Download the full report here.
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2023 Legal Compliance Update

2023 APAC Legal & Compliance Market Update

2023 APAC legal and compliance market updateAPAC has experienced a buoyant, candidate-led market across legal and compliance. Despite the global pandemic, we have seen generous salary increases and sign-on bonuses to support this. Many companies now have hybrid working policies and this has become a retention tool (especially for millennial and Gen Z candidates). We have seen firms that do not offer flexible hybrid policies struggle to attract candidates.​We foresee continued hiring growth in legal and compliance across APAC in 2023, though the incoming economic uncertainty raises doubts for more senior-level candidates to make moves. China’s new data privacy laws have driven high demand for onshore compliance/data privacy counsels in the region who are able to support the Chinese market.​Six hiring trends across APAC#1. INCREASED DEMAND FOR DATA PRIVACY ROLESGlobal regulators, led by the EU, have largely shaped the data privacy framework since the inception of the general data protection regulation (GDPR) in 2018.​Additionally, rapid technological advancements and hybrid working policies across APAC have added to the increased demand for data privacy roles. Evolving to become all-encompassing in skillset, from policy, advisory and implementation support for new regulations, finding qualified candidates with the necessary skillsets within the industry continues to prove challenging.​We expect demand to grow in the coming months as businesses continue to transform working practices and evolve digital skills.​China also recently updated its data privacy laws in 2021, which impacts all organisations with a presence in China.​#2. GROWING ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) CONCERNSWe’re seeing an uptick in roles focused exclusively on ESG legal and compliance and this can largely be attributed to the twofold increase in the number of ESG policies in the region over the past five years, according to the Goldman Sachs 2022 report. More policy means increased visibility into corporate disclosure and around climate reporting, carbon pricing and fund requirements. This has led to more dedicated resources for ESG reporting.​We’ve seen more roles where ESG-oriented tasks in the legal and compliance space require up to 50% of the candidates’ work scope to include these disclosures and research.​#3. RISING ASSET AND WEALTH MANAGEMENT ROLES IN SINGAPORE PLUS SUSTAINABLE INVESTMENTSBudding investments in Singapore around family offices and asset and wealth management have driven demand for legal and compliance professionals in this space. Since legal counsel became strategic advisors during the COVID-19 pandemic, their roles have been elevated to encompass new policies and establish new procedures in line with changing financial priorities and requirements. This includes prioritising and managing portfolios that are environmentally and socially conscious. ​Check out our 2022 Singapore Family Office Market Report.#4. TIGHT LABOUR MARKETS IN HONG KONGIn fund management and legal and compliance, hiring talent into Hong Kong has proven challenging for multiple reasons. Between expatriates choosing to leave Hong Kong to struggles around relocating candidates from abroad, labour markets are incredibly tight. This has led to Hong Kong candidates receiving higher salary increases when moving jobs compared to previous years.​Flexibility and hybrid working models have been helping to attract talent in the region.#5. CHINALegal and compliance hires are in demand since asset managers are diversifying their portfolios to expand their WFOE mutual fund, joint venture wealth management or applying for a renminbi (RMB) license. There is huge demand for bilingual data privacy lawyers who can interpret Chinese data privacy regulations as well as effectively manage both the Chinese regulators as well as international stakeholders.​Having data privacy counsel has become essential in China with the Personal Information Protection Law and Data Security Law that both came into effect in late 2021.#6. MAINTAINING HEADCOUNT IN JAPANJapan’s recent reopening in October of 2022 has caused a bigger delay in bouncing back from the COVID-19 pandemic than other APAC countries. These closures meant the hybrid working model has been a top concern, with hiring managers finding difficulty gaining legal and compliance workers from the middle of the year onwards. For global firms, the talent pool for bilingual candidates has been an ongoing challenge. Hiring managers are feeling the pressure and fear of losing headcount going into 2023, which would inevitably impact business’ bottom lines.​Recent PlacementsHONG KONGEuropean Asset ManagersAPAC Head of LegalHead of Compliance, Hong KongRegional Legal Counsel​Asian Hedge FundsGeneral CounselHead of Compliance​US PE FundRegional Regulatory Compliance​US Alternative Asset ManagerRegulatory Compliance​US Asset ManagersRegional Head of ComplianceGreater China Regulatory Compliance​Global Asset ManagerAPAC Counsel​Global BanksVP, Equities ComplianceVP, Corporate Banking Compliance​Global PE FundGreater China Regulatory Compliance​Boutique Asian Fund ManagerRegulatory and Investment ComplianceSINGAPOREGlobal Investment BanksMD, APAC Chief Compliance OfficerMD, APAC Head of Wealth Management Legal & Compliance​Global Real Estate Investment ManagerChief Compliance Officer​US BankLegal Counsel, Data Privacy​Global Asset ManagersHead of Compliance, SingaporeAssociate Director, Legal​US listed Fintech FirmAPAC Head of Compliance​Asian Securities FirmHead of Compliance​Family OfficeDirector, Compliance​Global Private BankVP, Private Banking Compliance​European Asset ManagersSenior Compliance ManagerLegal Counsel, Wealth TechnologyESG Compliance​TelecommunicationsSenior Legal Counsel​US Investment BankCompliance ManagerCHINAGlobal Asset ManagersChief Compliance Officer, Mutual FundChief Compliance OfficerSenior Legal ManagerSenior Legal ManagerVP, AMLSenior Manager, Anti- Bribery & Corruption​Global Investment BanksChief Compliance OfficerVP, Compliance​Asian Asset ManagersHead of Compliance​European Asset ManagerSenior Compliance Manager​Global PE FundVP, Corporate Legal​US BankVP, Compliance​HospitalityLegal & Risk Director​Luxury GoodsLegal Counsel​Key contactsThe demand for legal and compliance talent will continue to grow both for the foreseeable future – and beyond. Speak with our experienced consultants today to learn more. ​SINGAPORE​Yeo Suan WeiDirector, Legal & Compliance+65 6513​SHANGHAI​Andy ZhiDirector, Financial Services Practice+86 21 6080​Sophia SunDirector, Legal / Finance Practice+86 21 6080​​TOKYONicolas RumebeDirector, Head of Financial Services+81 90 3814​Kayo HayashiAssociate Director, Legal & Compliance+81 90 3475​​HONG KONGSonny WongAssociate Director, Legal & Compliance+852 3589​​Download the full PDF version here.​
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SUMMING UP 2022: Hiring landscape for finance and accounting

GDP in Singapore is expected to reach between 3% and 4% in 2022, according to the Ministry of Trade and Industry. Growth in the region has largely been driven by increased domestic demand due to the easing of border shutdowns and COVID-19-related restrictions. We have seen strong hiring in finance and accounting this year.​The talent landscape in Singapore (like much of APAC) has, however, evolved. The desire for flexibility from candidates has changed the dynamics of the jobs market while hybrid working has fast become the new normal. Career development opportunities have also become a key factor among finance candidates evaluating new roles. We have also seen more companies strengthening efforts in talent development and talent management to retain their key talent.​In this market update, we explore hiring and industry trends across finance & accounting functions in Singapore.​Hot skills in finance & accounting functions in SingaporeBusiness analyticsBusinesses have been adopting a more data-driven approach to driving growth this year. We have seen a growing demand for data analytics expertise as a result. We are seeing trends of hiring for Financial Planning and Analysis, Commercial Finance and Finance Business Partnering professionals who have exposure in data analytics tools like Tableau, Python, SAS, QlikView and R Programming. With such tools, it can help organisations better forecast business changes which in turn able to assist the business to make better strategic decisions for recovery.Supply chain financeThe ongoing pandemic has affected global supply chains. This has shed light on the need for supply chain finance talent who can partner with supply chain leaders to work on business cases and drive operational excellence as well as build contingency supply chain plans.Business operationsThe CFO role is broadening and is increasingly operating more like that of a COO. In mid-sized companies, we are seeing the trend of hiring CFOs with a skillset in strategic planning, procurement, IT and legal. We are witnessing CFOs acting as the second-in-command after the CEO and leading the organisation’s transformation.Environment, social and governance (ESG)Local regulators have strengthened requirements around ESG following concerns about the impact that corporations are having on the environment. As more organisations formulate (and implement) their ESG strategies, there has been an increase in demand for related roles such as ESG reporting specialists, ESG risk officers as well as ESG regulatory reporting roles.Finance transformation and robotic process automation (RPA)More organisations have been embarking on finance transformation initiatives to drive process and system improvements. There continues to be a demand for professionals with demonstrated experience in driving and leading finance transformation projects relating to process improvements.As automation is the key to driving efficiency and effectiveness, we have observed a strong push for robotic process automation (RPA) in finance and transactional accounting work. We find accounting professionals with experience in implementing RPA within a large organisation with a significant number of transactional flows are in high demand.Mergers and acquisitions (M&A)A steady stream of investments in Singapore has led to an increase in M&A transactions this year.We have seen companies making more strategic acquisitions of businesses that are either similar, or upstream or downstream within the same sector. As a result, we have seen an increase in demand for individuals with good experience in M&A/corporate finance function.Enterprise risk managementThe need to manage business risk was brought to the fore during the pandemic. This, coupled with rapidly evolving business, has led to strong demand for candidates with experience in several risk areas such as enterprise risk, business continuity planning risk and other corporate risks functions.​Industries with strong finance hiringReal EstateWe have seen an increase in hiring in the real estate sector. There has been an increase in hiring in M&A and investments functions as real estate firms look into acquiring new assets in the region. There has also been more hiring for corporate reporting and controllership roles within this sector.Healthcare/Pharmaceutical/Medical DeviceHealthcare is another sector with strong hiring activities. Due to high demand in healthcare services, local public healthcare groups and private healthcare service providers had to strengthen their support functions like finance as well as drive finance transformational projects to support the ever-increasing business needs. We also saw a rise in pharmaceuticals, medical devices and life sciences multinationals hiring top finance talent to support and drive commercial decisions in view of a highly competitive business environment as we emerge from the pandemic.TechnologyThe technology industry remains a sector with strong finance hiring in the early part of this year. However, in recent months the industry has seen a string of layoffs in the face of uncertain economic conditions and challenges in fundraising. Nevertheless, there has still been a steady level of hiring activities within the technology infrastructure space.Advanced ManufacturingThe strong demand for 5G, data centres and cloud services has led to a growth in the semiconductors industry. We see a healthy level of hiring within this sector.​​Recruiting for talent: What do candidates look for in a company?Candidates have been a lot more selective in the opportunities they are exploring this year, and this sentiment is expected to continue into 2023. This follows the cautious approach that was taken by a lot of candidates when the pandemic caused an uncertain economic outlook.We have examined the factors that attract candidates to an organisation as they look for new job opportunities. A strong company culture with effective leadership is a critical component in attracting top talent and acts as a magnet to retain good employees. We have also seen companies strengthening their talent retention programmes to retain their top talent. This includes giving attractive long-term incentives as part of the compensation package.1. Higher expectations for compensationCompensation expectations from candidates across Singapore have increased significantly over the last 12 months. This is especially true for candidates with niche skillsets that are highly sought after.2. More flexibility in work arrangementsHybrid work arrangements and flexibility in how and where people work has become the norm since the pandemic. Employees can save time commuting and can manage work more effectively without compromising on their personal time and this is driving demand for flexibility. The future of work will be centered around flexibility and choice. If companies want to attract and retain top talent, employers would need to offer a flexible work model that caters to individual candidate and employee work styles.3. Employee well-beingThe pandemic has reemphasised the importance of employee well-being. It has become an important factor for jobseekers as they feel more valued when their needs are met at all levels including from a mental health as well as financial perspective. We have also found that organisations that have focused on employee mental and emotional well-being have happier and more productive employees.4. Career development and growth opportunitiesCareer development and learning opportunities are key factors that candidates look at in evaluating career opportunities. With the ongoing competition for talent especially for niche roles, this should be favourable news to businesses as it means they can train employees to ensure they have the skillsets required for the future of work. Organisations with comprehensive learning and development programmes, will find it much easier to not just attract, but retain talent. Research from LinkedIn revealed that 94% of employees would stay with a company longer if that employer showed commitment to helping them learn.​Looking aheadAmidst a challenging global economic environment, high inflation as well as geopolitical tensions, we anticipate hiring sentiments will be affected in the coming months. More companies may look into restructuring in anticipation of a more challenging global economy. Despite this, there will still be a good demand for finance talent as companies transform and position for growth in the year ahead.​​Recent placementsVP Finance - Market leader in the consumer retail sectorChief Financial Officer - Private equity portfolio company within industrial manufacturingRegional Head of Financial Planning and Analysis - Global technology multinationalDirector of Shared Services - Global consumer goods multinationalFinancial Controller - US renewable energy multinationalFinancial Controller - Global pharmaceutical multinationalFinance Business Partner for Supply Chain - Global medical device multinationalFP&A Manager - Global consumer goods MNCGroup FP&A Manager - Singapore-headquartered FMCG groupFinancial Reporting Manager - US energy solutions multinationalGroup Head of Enterprise Risk Management - SGX-listed company in the technology sectorRegional Internal Audit Manager - US payments technology multinationalManager, Group Governance & Sustainability - Singapore real asset management groupHead of Treasury - European multinationalSenior Manager, Group Tax - SGX-listed company with diversified businessesSenior Manager, Indirect Tax - Global fintech multinationalSenior Manager, Investments - Singapore-headquartered company in the energy solutions sectorAccounts Payable Manager -US life sciences multinational​​Click here to download the full report.
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How employee priorities have shifted in APAC

In contrast to preceding years, employee priorities in the post-COVID-19 era are more holistic and there’s now a big focus on wellness, family, inclusiveness, flexibilty and the opportunity to make a real difference.THE POST-COVID-19 ERA: How and why we have changedThe shift to remote work, which originally started during the onset of the COVID-19 pandemic in 2020, has had a huge impact on employee priorities. It showed employees that flexibility on how and where they work was possible.​Intrinsically, jobs now need to fit around employees’ personal lives — and work is just one part of that. Many families saw extra time at home as a positive because they no longer had to commute, and as such, some are reluctant to go back to the office full time. Employees have become more wary of travel assignments, preferring roles based close to home.​Throughout APAC, and during the last few years of on and off lockdowns, many people have been unable to see loved ones abroad or travel freely. This has further reinforced the importance of flexible working, family and well-being to today’s employees. With worries of the pandemic ever-present, it is unsurprising that family time has become so incredibly important which has contributed to the desire for flexibilty.​Employees are actively seeking environments that will improve their well-being, reduce stress and provide more fulfilling work. There’s an increased desire to learn new skills, re-train, go into higher education or even switch careers altogether. In fact, one of the main reasons why people leave their jobs is lack of development options. 94% of people would stay with a company longer if that company showed commitment to helping them learn, research from LinkedIn revealed.​Notably, only two years prior, flexible (or hybrid) working was still a very new concept in Asia. Moreover, mental health and well-being in the workplace were topics only ever explored at a woefully superficial level. The COVID-19 pandemic has, however, helped to showcase the importance of mental health and well-being in the workplace.​The Great Resignation has shown candidates want to take control back; that fundamentally, they want the choice of where and how they work.​FLEXIBLE WORKING: The freedom of choiceBeyond a prescribed few days a week working from home, the main rhetoric from employees and candidates in APAC is that they would like the ability to choose for themselves what works for them. This includes the hours they work, the location and even, to some extent, the country. Some candidates have even started asking their employers if they have policies that will allow them to work abroad for a month or two during the year.​An increasing number of organisations in Asia are now offering a hybrid solution; either across the board or tiered, depending on your job scope or role (i.e. a minimum of two, three or four days a week in the office). Some are writing policy on it and others are working with managers to suggest updated ‘guidelines.’ Some firms have gone one step further to promote fully remote and/or choose for yourself options. Others have closed their offices indefinitely — while at the other extreme, a few companies are insisting on five days a week in the office. These firms have repeatedly cited the need to foster a ‘campus culture’ of learning. They claim this does not happen in silos where teams cannot physically collaborate. A few CEOs have been outspoken with their opinions on the importance of getting back to the office full time.​Although we’re seeing a growing trend for a four-day week across the world, we have yet to see if this will take off in the APAC region.​Work-life balance trumps salaries for jobseekers globally, with 63% of professionals saying it is their priority, ahead of pay and benefits (60%). (Source: LinkedIn’s Global Talent Trends 2022 Report)​​WELL-BEING: Care and compassionRecent reports suggest employees are feeling anxious and burnt out. So, it comes as no surprise to see there has been a collective drive across much of the working world to enhance health and wellness in the workplace. Well-being also has a direct impact on an organisation’s bottom line, as Gallup datashows highly engaged teams show 21% greater profitability.​More than this, true employee well-being demands the need for empathetic leaders who drive strategies to support both physical and mental health. Some organisations have launched new resiliency programs and others are improving the ones they already have.​Other firms are encouraging initatives like no meetings on Fridays or reduced hours during summer months. One US bank, which has offices throughout APAC, has launched a global policyof 12 weeks’ sabbatical at 25% of base pay (a minimum of 3-5 years of service is required).​The shift from remedial intervention to preventative work focusing on employees’ core health, wellness (and dare we venture, happiness?) is palpable. And employees are quick to jump on board. A recent report from LinkedIn stated: employees “want to work for employers that value their physical and emotional well-being. And they’re ready to walk away from those that don’t.”​EMPLOYEE BENEFITS: Focusing on inclusivity and equalityAs companies take a more holistic approach to employee well-being, leaders are turning to benefits plans. Policies are shifting, with an emphasis to be more inclusive, including recognition for family, same-sex marriage and overall equality.​Employees are expecting medical plans and life insurance policies to cover dependents including same-sex partners where recognized. Several employers are making conscious moves to offer equitable benefits for caregivers with equivalents to paternity as maternity leave. Many include adoption leave and some now cover IVF. Firms are stepping up their medical coverage, including more comprehensive annual checkups. One organisation is even mandating bi-annual checkups; if you fall sick and you’ve had a checkup within two years, the firm may cover medical costs. If you haven’t, your medical bills will only partially be reimbursed. They have saved thousands of dollars in the early detection of serious illnesses. And as a result, it has a healthier workplace with a significant reduction in days lost due to sick leave.​The overall sense is one of choice, equality, non-judgement and transparency. Anecdotally, the number of prospective candidates who are asking more detailed questions on medical coverage has grown exponentially. Many employees are also starting to question whether (and why) medical plans differ for various levels of seniority in their firm.​It is only in fostering an inclusive environment that we can re-imagine and revolutionise working cultures.​RE-IMAGINING CULTURES: Purpose, belonging and connectionMedical benefits alone will not change a company’s culture, nor will flexible working arrangements. True wellness can only come from an inclusive, happy and healthy environment. And it is only in fostering an inclusive environment that we can re-imagine and revolutionise working cultures.​Employees today are prioritising firms that can show their commitment to diversity, equity, inclusion and belonging, their stance around environment, social and governance policies (ESG), their support and involvement with local communities and their genuine ethical practices. Diversity, equity, inclusion and belonging (DEIB)is now a key focus in employment branding, and firms are showcasing efforts in recruitment marketing to show its stance to future candidates.​We find ourselves in a unique moment in time — in a real opportunity to re-map the workplace as we know it — to improve working environments and lives with huge upside. For the companies that achieve this, they will be rewarded with long-term retention rates, and ultimately happier and healthier employees.​THE IMPORTANCE OF HARD CASH: Does money still talk?Despite the quest for more holistic workplaces, these policies are not substitutions for the importance of an employee’s monthly paycheck.​Compensation across the globe has increased in the last 12 months – in some cases, exponentially. Anecdotally, candidates asking for 20-25% increase on base has almost become the norm and even 40%. Increases are not unheard of this year. In part, candidates are riding a wave of strong growth in the Asia region, making up for the flat salaries seen over the past few years while simultaneously taking advantage of a talent shortage in the market. More recently, candidates are concerned with how companies will compensate them given inflationary pressures and the increased global cost of living.​However, more importantly is the way we are reviewing the philosophy around compensation. There is much more consideration around salaries as a total comp target number. There’s been a move away from discretionary bonuses, and demand for more transparency is increasing. Many organisations are recognising this and are making adjustments.Furthermore, there is an expectation to pay equitably in line with internal relativities and not peg a candidate’s current salary to the job on offer. As such, some candidates interviewing for roles have started to become more reluctant to share current compensation details with prospective employers – at least, not initially.​Compensation is still a powerful motivator for many and we are finding, perhaps unsurprisingly, it is more important to the younger workforce than more tenured professionals who have had more time to establish themselves and put pennies aside. Likewise, certain countries (where hard cash is still linked to status) prioritise compensation over well-being or flexible work.​As we approach the last quarter of 2022, we’re still seeing high demand for talent, although candidates in the tech industry are seeking higher rewards than usual to balance out the uncertainty surrounding this sector. The uncertainty has largely been fuelled by the layoffs in tech that have been reported over in the US over the past few months.​THE MANY FACES OF ASIA: Insight into China and TokyoCHINAWhile employee motivations are going through a seismic shift across the globe, each country and its citizens carry their own individual motivators, challenges and macro-economic influences.​Despite recent lockdown challenges in China, it is a market still very focused on brand, title and compensation above more holistic benefits. Redundancies of the last year have made employees more risk averse, and as China doesn’t suffer from a talent shortage like the majority of the global workforce, candidates and employees don’t tend to wield as much influence here. In addition, a lot of companies in China expect their employees to work five days a week from the office.​While some candidates may ask about flexibility, rarely would a candidate push back, let alone not accept a job offer should they need to be in the office full time. In stark contrast to the well-being efforts cited earlier, for many companies and employees, ‘996’ is still expected (working 9am- 9pm, six days per week).​It will be interesting to see if external global influences have any impact as we look to the end of 2022 and head into 2023. With increased mental health issues predicted, will companies in China have any inclination to address this? Some MNCs are starting to instil flexible benefits, but it appears to be in the early stages.JAPANSimilar to China, Japan still places great importance on job title, compensation and brand. The career path for employees is important and often very structured. As a male-dominated society, it remains a hierarchical environment to navigate and the COVID-19 pandemic does not seem to have changed that. Multinational companies stand out in being more progressive and are certainly making advances to be more inclusive though.​Despite the complexities, Japan has embraced flexible working, particularly in multinational companies, and more like the rest of the world, employees have shown their reluctance to go back to the office five days a week.​Sadly, irrespective of the last few years, mental health and well-being are still not topics openly discussed in Japan. For a country with the highest suicide rate in the world, it so desperately needs to address this increasingly important topic. For now, Japan remains a country intent on maintaining ‘gaman,’ the Japanese word for ‘enduring the seemingly unbearable with dignity and patience’. We can only hope that in time, HR departments play their part to drive change and raise awareness for colleagues who may be suffering in silence.​In SumAs Asia strives forward to embrace the new world of work, it is paramount that companies understand employee priorities and do what they can to adapt and evolve with the times. While each country in Asia is unique with its own challenges and concerns, there is a common goal to enjoy our personal lives as much as our working ones – and the companies that assist employees to achieve this will undoubtedly be the ones that will retain their staff for the long run. With a global shortage of talent continuing to loom ahead, can employers really afford not to adapt?​
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The right prescription: Healthcare industry trends in APAC

INTRODUCTIONAPAC’s healthcare sector has evolved rapidly over the past few years, largely driven by shifting consumer expectations and innovation in technology. The COVID-19 pandemic also, unsurprisingly, intensified demand for healthcare services, including consumer healthcare.​43.5% of shoppers in China have reportedly spent more on their health in the past 12 months, while 23.1% said they are spending more on nutrition. (Source: McKinsey)​However, demand for talent in all healthcare sectors including pharmaceuticals, healthcare services, MedTech and lifesciences, currently outstrips supply and could hamper growth in the sector.​There has been a noticeable increase in the number of Chinese conglomerates and global companies with facilities in China looking to hire outside of the country. Many have, or are in the process of, moving their ASEAN HQs to Singapore because the region has more access to skilled talent, a thriving healthcare ecosystem, attractive tax incentives from the government and connectivity with the fast-growing Asia market.​In addition, increasing numbers of organisations are now looking outside the healthcare industry to fill open roles. Candidates outside the sector are generally open to exploring healthcare opportunities because it gives them the chance to make a meaningful impact on society, which is a key driver for many jobseekers considering a career move.​Despite the uncertainty and risks stemming from the Ukraine/Russia conflict, China’s slowing growth and interest rate hikes in advanced economies to tame inflation, Singapore’s economic recovery is continuing. Growth, however, is forecasted at a lower rate, 3.7%, this year compared to 7.6% last year, figures from the International Monetary Fund revealed.​We are seeing momentum pick up in the number of global healthcare organisations that are consolidating portfolios, acquiring technologies and/or companies to complement their business portfolios. We have also seen companies spinning off or divesting businesses to focus on their core organisations. Several companies in the MedTech space are undergoing restructuring as well. This has led to a two-tier structure in hiring in the region - some employers are aggressively hiring while others are more cautious.​APAC’s CANDIDATE-DRIVEN MARKETThe global pandemic has accelerated the talent crunch by a significant degree. We see a greater intensity in the competition for talent in a post-pandemic world. Top talent has more bargaining power than ever before and candidates are more selective when it comes to career choices. Although still an important driver for candidates, salary is no longer the top consideration among those considering a career move. However, after bonus pay-outs earlier this year, many employers re-negotiated with employees and offered above-the-norm salary increments, long term incentives and attractive retention bonuses in a bid to retain staff.​Broadly speaking, there are two groups of candidates right now. One group is looking for job stability and career development, while the other is seeking the rapid innovation typically seen in healthcare startups. There has been a rise in the number of candidates open to relocation opportunities too, which will be useful to employers located in areas with small talent pools. The talent market is highly competitive in APAC right now, especially for unicorn talent or those with niche skillsets.​Salary is no longer the top consideration among those considering a career move.​INDUSTRY TRENDSHEALTHCARE SERVICE PROVIDERSThe pandemic intensified demand for healthcare service providers and Asia’s aging population is also adding pressure to the tight labour market. More hospitals and clinics are now developing personalised treatments and home therapies to navigate the difficulties patients have visiting hospitals and clinics due to social distancing or regional lockdowns.​Remote healthcare and telehealth are continuing to drive growth in the sector and will continue to do so, especially in the regions that are still being impacted by pandemic-related lockdowns. In addition, there has also been an increased focus on mental health, which was undoubtedly caused by the stress of living through a global pandemic and the periods of uncertainty experienced over the last couple of years. Demand for mental health services among consumers throughout Asia is expected to continue.​Countries in South-East Asia need to redouble efforts to strengthen and expand their nurse and midwife capacity by 1.9 million to achieve health for all by 2030. (Source: World Health Organization)​LIFESCIENCES AND PHARMACEUTICALSDigital health impacts more than a billion lives and according to estimates, digital health in Asia could collectively create up to $100bn in value by 2025, up from $37bn in 2020. (Source: McKinsey)​​The lifesciences industry will continue to play a significant role in managing the global endemic and future pandemics. There has been substantial growth and investment in cell and gene therapies and in the molecular diagnostics space. Strong growth in molecular diagnostics is fueled by the increase in PCR testing over the past 2 years and other key sectors such as blood screening and detection of infectious diseases, among others. Companies within molecular diagnostics are looking to increase R&D to enable early disease diagnosis. And in drug development, there’s a significant focus on mRNA vaccine development for infectious diseases along with continuous drug development in personalised treatments, especially in the areas of oncology and neuroscience. Pharmaceutical companies are busy developing cost-effective drugs and treatments to improve affordability for patients, while clinical trials have also been accelerated.​The pharmaceutical market in China is now the second largest in the world (with the first largest being the US), research from Statista revealed. In a bid to move into global markets, many organisations have shifted their focus to research and development (R&D). However, this transition requires approval from foreign agencies such as the Medicines and Healthcare products Regulatory Agency in the UK, the American Food and Drug Administration and such, which greatly complicates the process.​MEDTECHElective surgeries were put on hold across most of Asia throughout the pandemic. As a result, some companies have gone through restructuring, while others have implemented hiring freezes to deal with the aftermath of the pandemic. As the borders continue to open in the various countries, we are seeing a rise in momentum on elective surgeries and a growth in medical tourism.​In China, MedTech companies are benefiting from government policy that is designed to encourage growth among local companies and many have been expanding their product lines as a result of R&D.​Innovation in the sector, namely digitalisation, has played a significant role in driving sales. One of the big challenges is the regulatory environment, especially for multinational companies which have multiple regulations that they must adhere to.On a positive note, the MedTech talent market in China is stable right now. One trend that is gaining momentum in the region is the migration of management professionals who are now seeking opportunities in local companies as they can see the increased opportunities for growth. However, junior and middle-level candidates still prefer to work for multinational companies and are staying put.​The rapid growth in healthcare means many talent acquisition leaders are struggling to define future skills needs. Strategic workforce planning is growing in popularity as a result.​HOT SKILLS ACROSS APACDigitalisation and innovation:Digital skills are highly sought after in healthcare. There has been a slew of technological developments from robotics, artificial intelligence, machine learning and blockchain. Big data and analytics are also advancing and are playing an integral role in R&D within the industry. For example, data scientists are using advanced algorithms to gather information from a vast range of sources, including industry websites, data libraries and so on. The sheer scale of data within the industry is also playing a role in its growth as data experts must manage, review and analyse gigantic databases.Cloud technology:Companies are seeking talented individuals with a strong understanding of the wider healthcare landscape and technical capabilities to connect data and use it to address health conditions.Customer journey experience:Candidates with customer journey experience are highly sought after. Organisations are looking for candidates who can take an inside-out approach to give employees the best experience, which will naturally lead to a greater experience to customers.Regulatory and compliance:As companies look to improve their systems and process flows within the industry, applicants experienced in regulation and compliance are highly sought after. In addition, more organisations in healthcare are practising environmental, societal and governance (ESG) business practise. They want to build sustainable businesses for local communities, so candidates with experience in ESG are in demand.Salesforce excellence:In the wake of the pandemic, there has still been difficulty surrounding in-person meetings and visiting clients. Companies have been re-inventing the approach to outreach and sales professionals, as a result, must have digital skills.Digital marketing:Omni channel marketing experience in the healthcare industry is becoming increasingly important. Candidates with the skillsets to create unified messages across multiple channels to provide a seamless customer experience are in high demand.Research & development and laboratory management:More diagnostic laboratories have been set up over the past couple of years to meet the needs of PCR testing for infectious diseases and serve the development of vaccines and biologics in Singapore. There has been a good increase in demand for professionals with lab management experience.​Candidates that can act as change agents and have the ability to multitask in a hybrid environment are in demand in APAC, particularly in China.​RECRUITING FOR TALENT: WHAT DO CANDIDATES LOOK FOR IN A COMPANY?The employment landscape across APAC has evolved more in the past few years than in the last decade, so employers must continuously seek new and creative ways to motivate and incentivize employees and candidates alike. We have outlined some of the most popular employee expectations below:​Flexible work arrangements: Many employees worked remotely for the first time in their careers during the onset of the pandemic and were able to get an improved work-life balance as a result. Many have proven that they are as productive, or even more productive working from home. Many companies in APAC have already implemented hybrid working arrangements. The future of work will be centered around flexibility and choice. If companies want to attract and retain top talent, it is important to offer a flexible work model that caters to candidates’ and employees’ work styles and productivity.​Financial rewards and employee wellness programmes: Top candidates are juggling multiple job offers, and some are being offered high salary increases to join new companies. Salary benchmarking, using real-time labour data, can help employers ensure the salary and benefits they offer are competitive to ensure they don’t lose out on top talent. There is also an increase in expectations for companies to support employees’ well-being. Companies that provide attractive and well-thought-out employee wellness programs will be at a significant advantage in attracting top candidates and retaining talented employees.​Career development and growth opportunities: A recurring theme among most industries in APAC, not just healthcare, is the desire to learn and develop. Organisations that provide comprehensive L&D programmes will find it easier to attract and retain talent. And upskilling programmes also give companies access to future skills, which is much needed given the pace of innovation and digitisation in the healthcare industry.​To make an impact to society: Healthcare is one of the few industries that by default allows workers to make a real impact to society. A sense of purpose is very much a motivator for many candidates, so companies that give people the chance to make a real difference, should showcase this in their recruitment marketing.​RECENT PLACEMENTSCHINAChinese Biopharmaceutical CompanyPlant General ManagerStrategic Cooperation Senior ManagerAsian Healthcare Services ProviderChina Medical DirectorOphthalmologistEuropean Medical Device CompanySenior Business Operations ManagerMarketing Associate DirectorMedical DirectorSenior Distributor Management ManagerChinese In Vitro Diagnostics (IVD) CompanySenior GA ManagerUS Biotechnology CompanySupply Chain DirectorChinese Pharmaceutical CompanyHead of Strategy and Business DevelopmentUS Pharmaceutical CompanyClinical Trial Manager, Asia PacificAsian Pharmaceutical MultinationalPortfolio & Product Management ManagerSINGAPOREGlobal Pharmaceutical CompanySenior Regional Commercial Manager, Consumer HealthcareQuality Operations ManagerProcess and Projects ManagerHead of Business ExcellenceGlobal Life Science CompanyRegional Marketing DirectorManager, Technical Services & SupportTechnical Application Specialist III, Genetics AnalysisSingaporean Hospital GroupHead, Service Culture and Training DevelopmentDirector, Finance Systems and Program Management​Singaporean Healthcare Service ProviderCentre DirectorSenior Manager, Strategy & TransformationUS Medical Equipment CompanyProduct ManagerGlobal Biotechnology CompanyIT DirectorAustralian Med Tech CompanyProgram DirectorSingaporean R&D CompanyScientist, Antibody DiscoveryUS Medical Device CompanyRegional Training ManagerAustralian Consumer Health CompanyNational Sales ManagerKEY CONTACTSThe demand for healthcare talent will continue to grow both for the foreseeable future – and beyond. Speak with our experienced consultants today to learn more.​China Offices: please contact Cherry Zhu, Wayne Wang or Jane ZhangSingapore Office: please contact Yvonne Goh, Jolene Lee or Cassia Seah​Click here to download the full report.
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