Demand for skilled tech talent skyrockets across all of Southeast Asia
Annual demand for IT professionals bloomed in all three Southeast countries for the month of October, according to the data provided by the Monster Employment Index, released by Monster.com.
The Monster Employment Index (MEI) is a monthly gauge of online hiring activity across Singapore, Malaysia and the Philippines, tracked by Monster.com. It comprises data of overall hiring activity in each country, as well as specific data in the banking and finance sector.
All three countries demonstrated impressive double-digit, year-on-year growth in demand for tech talent, with Malaysia in the leading position. The country demonstrated a whopping 25% annual growth in the tech industry.
Singapore and the Philippines were not to be left behind, reporting 14% and 15% year-on- year growth respectively during October. Both Malaysia and the Philippines saw a considerable gain from September’s annual growth.
However, the availability of suitable roles in the tech space is unsatisfactory for both Singapore and Malaysia. Singapore reported an annual decline of 1% in IT jobs during October, a sharp decline from the 7% positive annual growth it had seen during September. Malaysia maintained its slow run in terms of tech opportunities, clocking in a 3% annual decline.
The Philippines, on the other hand, eclipsed its neighbours by achieving an impressive 26% annual growth for October.
“It is slowly dawning on companies across all sectors that things in the tech world are moving very rapidly and could easily outpace their existing roster of talent. As a result, hiring firms are attempting to bring in more tech specialists to increase its operational capabilities or train other employees whose jobs may require them to have a good grasp of IT,” said Abhijeet Mukherjee, CEO of Monster.com – APAC and Middle East.
“A new industrial dawn will be upon us soon, and we must ensure that our future generations are well-equipped to deal with the uncertainties of an era where machines work alongside humans to get things done. It’s about making sure that our working population remains relevant.”