Hiring demand likely to remain muted in 2025, except in specific sectors

In light of economic headwinds, hiring demand for Sales & Marketing professionals was largely subdued in 2024.

“Besides inflation and rising rents and salaries, China’s economic woes have affected the Asian region, with Singapore being no exception. Companies moved away from layered teams in sales and marketing, requiring employees to take on broader roles to manage rising costs,” relates Wendy Heng, Associate Director at Robert Walters Singapore. “This cost-conscious approach has also prompted some companies to offshore roles and sub-regional teams to alternative locations such as Thailand or Malaysia, while others proceeded with redundancy exercises. Overall, businesses approached hiring more prudently, resulting in lengthier interview processes this year.”

This was particularly evident in sectors like e-commerce, tech and manufacturing, with the industrial space being one such sector that was significantly impacted by rising production costs and supply chain challenges.

Despite these pressures, some sectors performed well. Consumer, retail and healthcare sectors enjoyed varying levels of growth, even as they grappled with higher raw ingredients and oil costs. Physical retail continued its recovery trajectory, and there was also a sustained interest in health and wellness. Specifically, Wendy points to the increased use of medical devices in digital applications, which has spurred further business investments in digital medical devices and software. The field of preventive medicine and testing, too, has shown healthy levels of growth.

The professional services space is also set to close out the year on a high note. Some standouts include the leisure travel industry, as well as the education sector, which are both poised for a robust close to the year.

Read on to find out more about Wendy’s expectations of the labour market and hiring trends for Singapore’s Sales & Marketing professionals in 2025.

Cost concerns, sustainability goals continue to impact hiring

Moving into 2025, companies will maintain the cost-conscious approach that characterised much of hiring and workforce planning in the preceding year. Backfilled positions will make up most of hiring volumes, with a limited number of new headcounts. “Firms will also rely more on contract and short-term hires to cope with rising labour costs,” adds Wendy.

In recent years, there has been a larger emphasis on sustainability as the public and private sector works towards goals set out in the Singapore Green Plan 2030. Multinational corporations have focused on establishing ESG and sustainability teams, bringing on more junior and mid-level talent in these functions within the last year. This is a trend that is expected to continue in 2025.

Key skills and roles in 2025

The most in-demand skillsets will be around profit and loss (P&L) management, ESG and sustainability, data analysis and insights generation, and stakeholder engagement. Sales expertise is also in high demand, with companies needing talent in both business development and account management to hunt for new business and drive topline revenue.

The top roles in the market include sales managers, key account managers, and business development managers. The growth of the healthcare sector will drive demand for clinical specialists and medical education experts, who are responsible for educating healthcare professionals on the latest techniques and devices they can use in their practice. Demand for well-rounded marketing talent across offline and online domains will also be high, as companies look to streamline their teams.

Candidates looking for stability and growth

“There are sentiments that the market is still in a period of recovery, with hiring plans remaining uncertain. Many candidates are cautious about exploring new positions and worried about the job stability and longevity of positions,” explains Wendy. However, candidates are now more open to considering smaller roles and packages, especially those impacted by restructuring and those looking to stay in Singapore.

While candidates may now be more willing to compromise on salaries, they still prioritise flexible and hybrid work arrangements, healthcare coverage, annual leave entitlements and flexi-benefits. Learning and development opportunities are also highly valued, as career progression has become more challenging within flatter organisational structures.

Professionals navigating today’s job market can gain an edge by building skills in high-demand areas like digital, data analytics and AI. Contract roles are also a good option for candidates impacted by redundancy, allowing them to continue learning and advancing their careers. Lastly, Wendy advises finding a balance between depth and breadth in experience. “While companies increasingly value well-rounded candidates, it’s still crucial to demonstrate growth and specialised expertise, so it’s wise to avoid short tenures where possible.”

Plan ahead with hiring

As market sentiments remain hazy, companies looking to hire talent in the new year should plan ahead as hiring timelines have lengthened. “Work out your hiring strategy once there is visibility over headcounts, as you will likely need to allocate more time to secure the right talent,” reminds Wendy.

To keep the process efficient, identify your non-negotiables, then keep an open mind, giving fair consideration to transferable skills and experience.

Given that talent retention will be a key focus for many companies in the year ahead, Wendy recommends communicating clear and concise expectations on the company’s growth plans and goals. Employees need to see that they can continue advancing their careers in the company, so management should maintain regular check-ins about their teams’ professional development and growth trajectory. Across the board, employees appreciate opportunities for internal movement, but mid-level managers in particular will benefit from upskilling opportunities. 

The introduction of Singapore’s Flexible Work Arrangements may be less relevant for companies already offering a hybrid work arrangement, but Wendy states that companies requiring full-time presence in office could consider flexi-hours and hybrid arrangements to retain talent.

“Lastly, top talent is always highly sought after. Keep benchmarking salaries and benefits to ensure you are competitive enough to retain them,” notes Wendy.

Junior, mid-level candidates expect more

Salaries are expected to remain stable, with most firms providing increments of between 3 – 5% to match inflation. Job movers can expect increments between 10 – 15%.

Junior and mid-level candidates will likely have higher salary expectations as demand for candidates at these levels go up. Senior-level candidates, however, will likely expect minimal increments, due to redundancy and restructuring in the market.

Find out more

Request access to our 2025 Salary Survey to benchmark salaries and to find out more about key hiring trends in the Sales & Marketing industry in Singapore.