In 2020, HR directors in permanent roles will be able to earn S$220,000 to S$300,000 per annum.
According to Robert Walters' 2020 Salary Survey, this places the role as the highest earning in the HR function. This was followed by directors of compensation & benefits (a role with the potential to earn S$240,000 or more per annum) and talent management experts (where professionals are able to take home S$150,000 to S$240,000 per year).
When it comes to contract roles, HR directors remain the highest earning, with a monthly salary of S$18,000 to S$25,000; followed by directors of recruitment/talent acquisition, with an earning potential of S$15,000 to S$20,000 a month. While directors of compensation & benefits came in third with an expected monthly salary of S$15,000.
The survey also revealed that in the HR sector, professionals who are HR business partners, able to acquire talent in tech, and work in the areas of talent management and development, are expected be in strong demand in 2020.
With 73% of HR professionals having stayed more than two years in a role, the survey found that the top three drivers of job satisfaction were good working culture and environment; training and learning opportunities; as well as feedback and encouragement from management.
That said, staying in a role comes with certain salary expectations. Almost two thirds expected a 0-6% annual salary increment, while 32% expected a 7-15% annual salary increment, and 4% expected a more than 15% annual salary increment.
Hence, it comes as no surprise that better compensation & benefits (27%) was among the top four motivators to move jobs. Other motivators were: better company culture (36%), career progression (12%), improved work-life balance (12%).
On average, candidates moving jobs expected salary increments of 8-12%.
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Overall, professionals staying in their jobs can expect 1-7% salary increments in 2020. While job movers can expect a 5-15% salary increase. Larger increments are expected for candidates with niche skillsets, such as in technology & transformation, banking and financial services, legal, sales & marketing, supply chain, procurement and logistics.
Steady hiring activity is expected in Singapore, despite the economic slowdown during 2019. Top skillsets in demand for the tech and transformation sector are change and digital transformation, agile and devops, and business acumen.
The survey also revealed that contracting roles are expected to rise as perceptions around contract and interim roles change, and job seekers are more open to non-permanent roles that offer good learning opportunities and exposure.
Infographic / Robert Walters Lead image / iStock