Over 2 in 5 pessimistic on job opportunities as most firms face skill gaps

Less than half (47%) of professionals felt secure in their roles.

The labour market remains cautious despite continued hiring demand, with 44% of professionals not optimistic about the wider economic climate and job opportunities over the next two to five years.

On job security, less than half (47%) felt secure in their roles, 32% were neutral, and 21% said they feel insecure, according to a Hays report.

Hiring demand persists, but challenges remain in filling roles. More than four in five (87%) of organisations reported experiencing skill shortages.

The main causes of talent shortages were competition from other employers (49%), pay levels (39%), lack of progression opportunities (30%), and limited training and professional development (21%).

Salary growth, however, remains modest. Average pay increases in Singapore stood at 2.7% over the past 12 months. Around 39% were dissatisfied with their salaries.

Most adjustments were small, with 28% of professionals reporting no change in salary, 20% receiving increases of up to 2.4%, and 27% seeing increases between 2.5% and 5%.

Only a few recorded higher gains, with 9% receiving increases of 6% to 10% and another 9% reporting increases above 10%, whilst 7% experienced a decrease.

For 2026, 37% expect salary increases of between 2.5% and 5%, whilst 17% expect no change. Only 2% foresee a decrease.