Feeling the chill in Singapore’s job market, especially after a layoff? You’re not alone. Many, particularly in the tech sector, are finding the job hunt tougher than expected. It can feel like everyone’s playing musical chairs, and the music just stopped. But don’t lose hope! Let’s break down what’s really going on and explore how you can navigate these choppy waters.
Current Market Realities
The job scene in Singapore has seen some significant shifts. We’re hearing more about layoffs, particularly in the tech industry which saw massive hiring during the pandemic. Some companies are even rethinking their APAC HQs, with a few moving to neighbouring countries where operational costs, including talent, might be lower. This means Singaporeans can face stiffer competition, sometimes from talent pools perceived as more cost-effective.
- Recent data underscores this trend.
“CNA just reported job postings down 17% on-year.”
- Many job seekers share similar experiences.
“Yea market in sg is tough now, with inflation and rental challenges we are seeing companies moving away from sg and settling down in other neighboring countries to be the HQ of apac. Sourcing of talents and employees are also focused on Malaysia because they are cheaper.”
- Even career support events sometimes miss the mark for experienced professionals.
“Went to multiple e2i career events. Only 1% of job need degree holder. Rest are retails and f&b.”
Navigating Job Hurdles
So, why does it feel like finding a good role is an uphill battle right now? Several factors are at play. If you’ve come from a large tech company, your specialised skills might not easily transfer to smaller firms or different industries. Plus, a high last-drawn salary can sometimes intimidate potential employers who are tightening their belts. It’s a frustrating mismatch between experience and available opportunities.
- The nature of roles is a common challenge.
“One issue with working in these companies is that a lot of the roles are very niche and only found in equally sizeable companies… Prospective employers will likely get frightened by your last drawn salary too.”
- The tech landscape itself is evolving rapidly.
“Unfortunately in your case, there’s a real likelihood that tech jobs may not fully come back to SG at the same level like early 2022… you do need to start afresh as your skillset has limited use in other sectors.”
- Support systems might not always align with specific needs.
“I went to E2i (totally a waste of time), and they offered me FNB jobs when I told them I was seeking marketing.”
Finding Your Next Step
Okay, so the market is tough. What can you actually do? It’s time to get strategic. First, tap into your network – your kakis from previous jobs, university mates, anyone who can offer a lead or an introduction. Referrals often get your resume to the top of the pile. Don’t be shy to reach out; Singapore is smaller than you think, and connections matter.
- Networking is often key.
“Easiest way to get a job is through your network. Have you tried reaching out to former colleagues, friends, alum, etc? Most of the time, people who are referred by current employees get ahead of the line for interviews compared to blind resume drops.”
- Be open to a significant change.
“If I were you, I would dramatically pivot to something else totally different and start as a freshie.”
- Consider all your options, even unconventional ones.
“First off, give yourself a pat on the back man.. no offers in sg, but your efforts paid off and got an offer in Japan. Always look at the bright side.”
Beyond networking, be prepared to pivot. Your dream job in your specific niche might not exist right now, or not at the salary you expect. Consider roles peripheral to your expertise, or even a completely new industry. It might mean starting lower, but it’s a foot in the door. Continuous learning is also crucial, especially in tech where skills can become outdated fast. And as one Redditor found, sometimes opportunities lie beyond our shores. While not for everyone, exploring overseas roles could be an unexpected path forward.
