This prediction comes from the 2016 Hays Asia Salary Guide
which examines recent trends in recruitment and wage growth across the region.
“The HR recruitment market is busy as usual in all areas and skills shortages are still being felt,” Lynne Roeder, managing director of Hays Singapore, told HRD
Roles that are in particular demand include HR business partners, learning & development specialists and talent management experts. Salary levels for these positions will remain high, according to the report.
There will also be increased demand for in-house recruiters and talent acquisition specialists with firms trying new ways to attract candidates in a very tight recruitment market.
Finally, there will be increased demand for mid to senior HR practitioners with “strong influential and consultative skills” across all sectors, the report said. Increased competition for these high level roles will drive up salaries as well.
“For those looking to move who are at the mid to senior-level, increments of around five to eight per cent are common, if not more, depending on the company and the job title,” Roeder said.
For mid-range HR professionals, salaries will remain flat however due to greater numbers of more immediately available candidates on the market.
Roeder warned potential job hoppers to be careful about the salaries they request: “Companies will move onto other candidates if salary expectations are above their budget, even if applicants have the right skills.”
For HR professionals choosing to stay on with their respective firms, there is good news, she added.
“Many organisations are carrying out pay reviews at the moment and we’ve noticed salary increments to be around the two to three per cent mark. HR professionals looking to stay in their current role can therefore expect around this level of increase.”
The Salary Guide
listed the following average salaries for high level HR professionals in Singapore:
Senior HR salaries – are you being paid enough?
Senior HR wages set to rise
HR salaries stay strong thanks to high demand
- Regional HR director/SVP of HR (15+ years’ experience): S$250k to S$400k
- Regional HR director/VP of HR (10+ years’ experience): S$220k to S$250k
- HR director/Head of HR (8-10 years’ experience ): S$180k to S$220k
- HR director/Head of HR (<8 years’ experience): S$150k to S$180k
- Regional HR manager/HRBP (10+ years’ experience): S$150k to S$185k
- HR manager/HRBP (10+ years’ experience): S$120k to S$150k
- HR manager/HRBP (5+ years’ experience): S$80k to S$120k
- Regional talent acquisition director (12+ years’ experience): S$180k to S$250k
- Regional talent acquisition director (10+ years’ experience): S$150k to S$180k
- TA/recruitment manager (8+ years’ experience): S$120k to S$150k
- Regional L&D director (10+ years’ experience): S$180k to S$300k
- Regional L&D manager (10+ years’ experience): S$140k to S$180k
- Regional C&B manager (12+ years’ experience): $S180k to S$300k
- Regional C&B manager (10+ years’ experience): S$150k to S$180k
- C&B manager (8+ years’ experience): S$120k to S$150k
With HR recruitment in 2015 showing limited growth in Singapore, the coming year is expected to see an increased demand in mid to senior roles which will drive up salaries at these levels.