Companies seek data expertise and strong business partners
Cost pressures and a drive to increase productivity dominated the hiring landscape for accounting and finance professionals in 2024. This comes as costs for imported goods went up following geopolitical tensions that disrupted global supply chains, impacting business profitability. Although many businesses made strategic shifts and regular adjustments to forecasting models in response to rising interest rates, most will end the year with higher borrowing costs than before.
Technologies like automation, artificial intelligence (AI) and data analytics have also been a gamechanger for many businesses, who are leaning on new tools to identify trends and enhance decision-making. Having seen the benefits of better cost savings and increased efficiencies, more companies are now on the lookout for talent skilled in these areas.
“Overall, economic conditions were volatile and investor sentiments were weak,” says Kirsty Poltock, Director at Robert Walters Singapore. “There were more efforts directed towards risk management as companies strove to mitigate potential losses. Nevertheless, there is still healthy demand for skilled professionals, with potential talent shortages in areas like data analytics, cybersecurity and sustainability consulting.”
Read on to find out more about Kirsty’s expectations of the labour market and hiring trends for Singapore’s Accounting & Finance professionals in 2025.
Business press on with data and business intelligence
The focus on data analytics and business intelligence will continue to reign strong into the year ahead. With that in mind, Kirsty expects a surge in demand for talent with competencies in this area, such as strong analytical skills, proficiency in data visualisation tools, and a deep understanding of financial metrics.
AI and robotic process automation (RPA) are expected to drive the creation of new roles, increasing demand for professionals skilled in these technologies. Expertise in managing automation, combined with a solid understanding of the financial impacts of digital transformation, will be particularly valuable.
In addition, the role of finance business partner is also taking on increasing prominence, as businesses need trusted advisors who can support data-driven decision-making and strategic alignment.
Top talent has financial expertise and soft skills
Given the focus on data-driven decision-making across industries, businesses will seek out talent with skillsets in data analytics, visualisation, financial modeling and forecasting, cloud computing and ERP systems. Besides the relevant financial expertise, employers are looking for talent who can work closely with counterparts in other departments to identify and roll out the best strategies for the business. Therefore, candidates with soft skills like strategic thinking, problem-solving, communication, business acumen and adaptability will be highly sought after.
Roles that will see high demand in 2025 are financial analysts, finance business partners, and business analysts.
Candidates leery about job moves
Economic uncertainties have created a more cautious climate in the hiring market. Job security is now top of mind for most professionals, who are hesitant to make big career moves. Kirsty finds that job seekers generally cite career advancements, higher compensation, and improved work-life balance and company culture as the top factors for wanting a change.
To those navigating the job market at this time, Kirsty stresses that being proactive is key. “Always upskill and reskill, build a strong network, be strategic about switching jobs, and prepare for layoffs early by keeping up to date on market movements. By taking these steps, you can enhance your marketability as a candidate and put yourself in the best position to succeed,” she says.
Advice for talent attraction and retention
The introduction of Flexible Work Arrangements (FWA) guidelines by the Singapore government provides a good inflection point for companies to explore how they can meet needs for flexible or remote work, which Kirsty often hears accounting and finance professionals request.
View the FWA as a strategic tool. With clear policies in place, companies can help employees find better work-life balance.
By providing flexibility, companies also foster a positive, supportive work environment – also a key feature that candidates look for. Investments in employee wellbeing go a long way in raising job satisfaction, so companies can consider implementing initiatives that promote physical and mental health, such as gym memberships, stress management workshops or employee assistance programs (EAPs).
In addition, learning and development opportunities also keep employees engaged and motivated, so Kirsty recommends providing access to workshops, conference and training programs for skills development and industry knowledge.
Salary is also important, and regular reviews ensure that compensation packages are competitive against market rates. However, employees also appreciate non-monetary benefits, so companies may want to consider rewarding high performers with bonuses, promotions or public recognition.
Gradual rise in salaries expected
As Kirsty sees it, organisations will ramp up their use of new technologies to manage costs and boost productivity, which could have positive implications for profit. As finance functions shift from the back-office to middle-office and competition for skilled talent remains fierce, salaries are expected to increase at a moderate pace in 2025.
Find out more
Request access to our 2025 Salary Survey to benchmark salaries and to find out more about key hiring trends in the Accounting & Finance industry in Singapore.
