Singapore accountancy and finance sector faces skills gap: Hays

THE accountancy and finance sector in Singapore is facing a skills gap despite the large supply of professionals available, global recruitment agency Hays said on Thursday.

But employers have not been resting on their laurels when it comes to securing top talent to drive business growth.

"Many organisations have been ramping up their efforts in investing in their employer value propositions to attract the best talent in the market, through professional social media networking and online content marketing," said Grant Torrens, regional director at Hays Singapore.

"Such tactics are likely to grow each year as they prove to be effective in communicating the non-monetary benefits of working for a company," he added.

At the mid-senior levels, professionals who can act as commercial financial managers are being sought out, and to this end firms are widening their nets in the search, Hays said.

The agency recommended professionals in the accountancy and finance sector to upgrade their skills, such as by obtaining chartered accountant or chartered financial analyst certifications, to gain an edge over their peers in a complex and competitive job market.

While accounting remains a fundamental requirement at most companies, financial planning and analysis professionals have been increasingly taking on an important role as they are expected to guide the management on key decisions based on financial analyses, Hays noted.