Tuesday, December 22, 2015

Demand For Banking Professionals falling in SEA

Demand For Banking Professionals falling in SEA


" While banking and finance professionals are still struggling with a decline in demand, Singapore and the Philippines are likely to see some pick-up in 2016. "



EMPLOYMENT
ASEAN - Malaysia, Philippines & Singapore
Tuesday, 22nd December 2015

According to the latest Monster Employment Index (MEI), Singapore, Malaysia and Philippines experienced a drop in demand for banking professionals amid the volatile economic conditions in November.


Across the three markets surveyed by the Index, the Philippines reported the least year-over-year decline at -3%, down from October’s 25% year-over-year growth. This is the market’s first negative growth in three months and the steepest month-on-month decline registered among all markets.


The BFSI sector in Malaysia registered the steepest year-over-year decline at -24%, falling six times as much as October’s -4% decline. This is the sector’s third consecutive month of annual decline.


E-recruitment in Singapore’s BFSI sector experienced a slight drop between October and November, at -5% year-over-year. Despite this, the three-month growth rate for November has improved marginally by 3%, compared to 2% in October.


The MEI is a monthly gauge of online job hiring activity, which records the industries and occupations that show the highest and lowest growth in recruitment activity in Singapore, Malaysia and Philippines.


BFSI Industry:


Month
Market
2014
2015
% Growth Y-o-Y
September
Singapore
126
125
-1%
Malaysia
96
91
-5%
Philippines
106
117
10%





October
Singapore
127
124
-2%
Malaysia
85
82
-4%
Philippines
95
119
25%





November
Singapore
126
120
-5%
Malaysia
96
73
-24%
Philippines
93
90
-3%


Finance & Accounts Roles:


Month
Market
2014
2015
% Growth Y-o-Y
September
Singapore
109
100
-8%
Malaysia
95
86
-9%
Philippines
113
105
-7%





October
Singapore
108
99
-8%
Malaysia
89
79
-11%
Philippines
104
101
-3%





November
Singapore
108
98
-9%
Malaysia
96
74
-23%
Philippines
101
89
-12%


Recruitment trends in the BFSI sectors have also led to the sluggish demands for Finance professionals in the three markets. Despite the overall negative growth, Finance and Account roles are the top growth occupational groups in Malaysia and Philippines.
Malaysia reported the steepest decline between November 2014 and November 2015 at -23% year-over-year, a sharp year-over-year decline from October’s -11%.


Singapore witnessed the least year-over-year decline at -9%. This is a marginal drop from October’s  -8% year-over-year. The Philippines reported a -12% year-over-year decline, down from the -3% year-over-year reported in October.


“As the global economy leans towards greater uncertainty, each market will need to take measures to build greater resilience against any vulnerabilities that can potentially deteriorate the country’s economy and affect recruitment,” said Sanjay Modi, Managing Director, Monster.com (India, Middle East, Southeast Asia, Hong Kong).


“While the demands for Finance professionals in the Singapore and Philippines markets appear to remain on the decline, Singapore’s vigilance to any potential economic risks and the Philippines’ strong economic fundamentals in its domestic systems should help see them through external threats.”


The Monster Employment Index is a monthly gauge of online job posting activity, based on a real-time review of millions of employer job opportunities culled from a large representative selection of career websites and online job listings. The Index does not reflect the trend of any one advertiser or source, but is an aggregate measure of the change in job listings across the industry.


See below for countrywide trends in Singapore, Malaysia and the Philippines for November 2015:


Singapore Highlights:
  • The Monster Employment Index Singapore declined -8% year-on-year.
  • No industry sectors or job roles registered positive year-over-year growth.
  • The Healthcare industry registered the least decline in online hiring at -2% year-on-year, while Healthcare jobs saw the highest demand – although at 0%.


Top Growth Industries

Lowest Growth Industries
Year-over-year Growth
Nov
14
Nov
15
% Growth
Y-o-Y

Year-over-year Growth
Nov
14
Nov
15
% Growth
Y-o-Y
Health Care
111
109
-2%

Shipping/Marine
102
93
-9%
Retail/Trade and Logistics
118
114
-3%

Oil and Gas
103
93
-10%
Advertising, Market Research, Public Relations, Media and Entertainment
107
103
-4%

Hospitality
124
111
-10%
Education
104
100
-4%

Government/ PSU/ Defence
96
84
-13%
IT, Telecom/ISP and BPO/ITES
122
117
-4%

Consumer Goods/ FMCG, Food & Packaged Food , Home Appliance, Garments/ Textiles/ Leather, Gems & Jewellery
107
86
-20%




Top Growth Occupations

Lowest Growth Occupations
Year-over-year Growth
Nov
14
Nov
15
% Growth
Y-o-Y

Year-over-year Growth
Nov
14
Nov
15
% Growth
Y-o-Y
Health Care
110
110
0%

Engineering /Production
101
89
-12%
Customer Service
115
111
-3%

Hospitality & Travel
120
104
-13%
HR & Admin
107
101
-6%

Marketing & Communications
93
80
-14%
Legal
106
99
-7%

Software, Hardware, Telecom
114
98
-14%
Purchase/ Logistics/ Supply Chain
104
95
-9%

Real Estate
130
105
-19%


Malaysia Highlights:
  • Online hiring in Malaysia declined by -31% year-on-year.
  • Not a single industry sector witnessed positive year-over-year growth in online hiring.
  • The Production/ Manufacturing, Automotive and Ancillary sector saw the least decline at -10%, while Oil and Gas registered the biggest drop at -40%
  • Demand for Marketing & Communications professionals takes lead at 0% year-over-year, while Software, Hardware, Telecom roles fared the worst at -60%.


Top Growth Industries

Lowest Growth Industries
Year-over-year Growth
Nov
14
Nov
15
% Growth
Y-o-Y

Year-over-year Growth
Nov
14
Nov
15
% Growth
Y-o-Y
Production/Manufacturing, Automotive and Ancillary
94
85
-10%

Hospitality
102
76
-25%
Advertising, Market Research, Public Relations, Media and Entertainment
95
83
-13%

Logistic, Courier/ Freight/ Transportation, Shipping/ Marine
97
68
-30%
Engineering, Construction and Real Estate
96
75
-22%

IT, Telecom/ISP and BPO/ITES
110
77
-30%
Retail
100
78
-22%

Oil and Gas
119
71
-40%


Top Growth Occupations

Lowest Growth Occupations
Year-over-year Growth
Nov
14
Nov
15
% Growth
Y-o-Y

Year-over-year Growth
Nov
14
Nov
15
% Growth
Y-o-Y
Marketing & Communications
94
94
0%

Purchase/ Logistics/ Supply Chain
93
62
-33%
HR & Admin
92
72
-22%

Hospitality & Travel
104
69
-34%
Finance & Accounts
96
74
-23%

Sales & Business Development
99
64
-35%
Engineering /Production, Real Estate
95
72
-24%

Software, Hardware, Telecom
112
45
-60%




Philippines Highlights:
  • The Monster Employment Index Philippines registered a -46% year-on-year decline.
  • The BFSI industry had the least year-over-year decline at -3%, while the Production/Manufacturing, Automotive and Ancillary sector fared worst at -68%.
  • Customer Service jobs experienced the least decline at -9%, while Hospitality & Travel jobs reported the steepest decline at -64%


Top Growth Industries

Lowest Growth Industries
Year-over-year Growth
Nov
14
Nov
15
% Growth
Y-O-Y

Year-over-year Growth
Nov
14
Nov
15
% Growth
Y-O-Y
BFSI
93
90
-3%

Hospitality
111
59
-47%
Education
102
94
-8%

Health Care
108
55
-49%
BPO/ITES
116
96
-17%

Engineering, Construction and Real Estate
101
43
-57%
Consumer Goods/ FMCG, Food & Packaged Food , Home Appliance, Garments/ Textiles/ Leather, Gems & Jewellery
114
72
-37%

Logistic, Courier/ Freight/ Transportation, Import/Export, Shipping
111
40
-64%
IT, Telecom/ISP
120
74
-38%

Production/Manufacturing, Automotive and Ancillary
100
32
-68%


Top Growth Occupations

Lowest Growth Occupations
Year-over-year Growth
Nov
14
Nov
15
% Growth
Y-O-Y

Year-over-year Growth
Nov
14
Nov
15
% Growth
Y-O-Y
Customer Service
116
105
-9%

Health Care
110
69
-37%
Finance & Accounts
101
89
-12%

Software, Hardware, Telecom
118
73
-38%
Sales & Business Development
112
94
-16%

Marketing & Communications
110
61
-45%
HR & Admin
106
69
-35%

Engineering /Production, Real Estate
102
52
-49%
Purchase/ Logistics/ Supply Chain
114
73
-36%

Hospitality & Travel
121
44
-64%