Despite a more volatile economic climate, hiring for Supply Chain, Procurement & Logistics professionals for contract positions has been steady and consistent in 2023. If anything, companies are still hiring and backfilling business critical logistics headcounts, notes Anarane Thng, Manager at Robert Walters Singapore.
Read on to find out more about Anarane’s expectations of the labour market and hiring trends for Singapore’s Supply Chain, Procurement & Logistics professionals in 2024, with an emphasis on contract roles.
Just as it has been in 2023, the coming year will likely see employers prioritising candidates with digital skillsets.
Like most other industries, employees have stated a preference for remote or flexible work arrangements. Anarane remarks that companies with plants or warehouses situated locally have struggled to find the right balance for their employees when it comes to such arrangements, noting, “The nature of the work means that employees need to be at their workplace, so very often, flexible or remote work is just impossible.”
In addition, there will also be a strong demand for roles within the production and operational ranks, which sees higher turnover than other levels.
Across functions and seniorities, the supply chain and procurement space will seek out candidates who can keep pace with digital transformation. Those who are skilled in using digital tools or conducting data analytics will have an advantage, particularly for planner roles where data is used to optimise inventory, reduce costs and prevent shortages.
Candidates who can demonstrate strong strategic procurement abilities – such as understanding larger business needs, driving effective negotiations, and partner other business functions to create value – will be deeply valued by the market. To that end, companies will seek out procurement personnel who can skilfully manage supplier relations and drive value for the business.
With companies leaning more heavily into their ESG initiatives, there will also be an emphasis on talent familiar with sustainable and ethical sourcing.
Lastly, Anarane notes that logistics executives and managers will also be very much sought after. “Singapore is a key logistics hub in Asia, so there is a consistent demand for candidates who can oversee the transportation, warehousing and distribution of goods.”
“Over the past year, we’ve seen that candidates have been less frivolous about switching jobs. Given the shaky economic outlook, it’s natural that more people would prioritise stability and longevity in their roles. There remains a lot of economic uncertainty, so this state of affairs is likely to continue in 2024,” Anarane says.
Although companies may benefit from the conservative approach that employees are taking, they can still do their part to keep employees engaged and loyal. “Offer remote work arrangements, and include fitness, optical, leisure and other lifestyle benefits as much as possible,” Anarane suggests.
Employees also appreciate having increased annual leave dates and wellness-related initiatives like mental health support.
Anarane expects that salaries will increase conservatively in the year ahead, given that the employment market stabilised in 2023. Most roles should return to the usual increment of between 5 – 12%.
Workers staying in the same role can expect an increment of 3 – 5%. Meanwhile, lateral job moves may bring a 5 – 8% increment, while promotions can bring a 10 – 15% increment depending on the level of seniority. 20% increments while rare in a conservative economy but not impossible for niche positions requiring specific skillsets in digital transformation. However, these positions are more likely to be permanent roles.
Request access to our 2024 Salary Survey to benchmark salaries and to find out more about key hiring trends for Supply Chain, Procurement & Logistics industry contract professionals in Singapore.
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Supply Chain, Procurement & Logistics, Singapore
With a decade of commercial sales and recruitment experience, Anarane currently leads the Commerce Contract division covering all corporate functions.
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