After a period of rapid growth in the Compliance market, Singapore HR Directors and hiring managers face unique challenges. Here's what they are and how to overcome them.

1. 3 Compliance
Hiring
Challenges
Faced by Singapore
HR Directors

2. With increased regulatory pressure across
the globe, we have seen 6-7 years where
demand for Compliance professionals has
skyrocketed
Singapore's Compliance landscape:
Demand outweighs supply

3. As a result, we’ve seen a talent war that
has meant firms have hired from a
patchwork of related areas like Legal, Risk
and Audit
Singapore's Compliance landscape:
Demand outweighs supply

4. We’re now in a more mature market, but the rapid
growth has left firms with three main challenges:
The current state of play:
Three main Compliance hiring challenges
1. Lack of in-depth experience
2. Thin talent pool
3. Local hiring requirements

5. Lack of
in-depth
experience
Challenge
1.

6. 1. Lack of in-depth experience
The sudden increase in demand for Compliance
professionals led to a bidding war that saw people being
pulled from related areas despite a lack of experience,
and we're now seeing the results of a hot-housed talent
market

7. 1. Lack of in-depth experience
Cost-conscious managers reluctant to buy in new
talent have promoted internally, solving short-term
headcount issues but creating longer term stagnation

8. Thin
hiring pool
Challenge
2.

9. 2. Thin hiring pool
The hiring pool is still limited in size, making it harder
to find individuals with the right experience for
specialist roles, which are increasingly being sought by
firms as headquarters and functions get split out

10. 2. Thin hiring pool
With many firms competing for the same talent,
Compliance professionals are willing to jump ship for a
title upgrade or payrise, and fewer are staying put and
developing deep expertise

11. Local hiring
requirements
Challenge
3.

12. 3. Local hiring requirements
The Singapore government is focused on creating
more opportunities for Singaporeans and developing
the local talent pool as much as possible

13. Takeaways
An ideal candidate may not necessarily be an obvious
choice or even actively job seeking, so specialist hiring
knowledge is needed to find hidden talent

14. Takeaways
Growing a local talent pool takes time, so firms often
use recruitment specialists to help them source and
select promising local talent or exceptional and
experienced overseas talent

15. Danos Associates
Our Singapore team has a combined 20+
years in the local Compliance market. We
focus on long term client relationships,
often working across locations to help
firms acquire the best talent available
Contact Charles de Carvalho
+65 6233 6871
cdecarvalho@danosassociates.com