Platform simplifies remote hiring, global onboarding and streamlining payroll systems
In an age of expanding hybrid workforce, Deel, a global compliance and payroll solution, is helping businesses hire anyone, anywhere as it launched its new office in Singapore.
With talent shortages in Singapore at its highest in 16 years, more than 84% employers report difficulties in filling roles, according to a global hiring survey, by the Manpower group in Singapore. In fact, 74% of Singaporean professionals are looking to quit their current job this year, for more money and better work-life balance. This has resulted in employers needing to explore all options to attract and retain talent.
APAC employers report strong optimism despite lockdowns
The strongest regional hiring prospects are reported in India (+51%) for the second consecutive quarter, up 13% since Q2. Hong Kong (+11%) reports increased hiring intentions, improving 8% compared to Q2 2022, and 10% on the previous year. China expects to increase banking & finance estate management (+4%).
Today, as remote work becomes more accessible to companies, platforms such as this help businesses easily enter new markets, hire talent wherever they are, without having to officially set up a local entity. Deel enables companies to compliantly hire independent contractors and full-time employees in over 150+ markets more efficiently. Managing multiple teams, contractors and balancing payroll across various markets can all be done through a single centralised platform.
Using a tech-enabled self-serve process, Deel’s customers can hire independent contractors and full- time employees across countries, compliantly and in minutes. With more than 250 legal, accounting, mobility, and tax experts as partners, business can now create, sign and send localised contracts through Deel. It ensures that employment contracts are compliant with local regulatory bodies and labour laws, that are from a library of templates and pay teams in more than 120+ currencies.
The reality is that many organisations face significant roadblocks to hiring international talent even in the age of remote work. They may encounter compliance risks associated with setting up an entity, with lengthy times averaging six-to-eight months.
Deel’s platform and compliance expertise solves these issues, giving businesses the tools to expand, hire, and pay teams more easily than ever before,” said Karen Ng, regional head of expansion & market lead for Hong Kong, Singapore, ASEAN and India (centre in the picture).
“We want to ensure they have access to the best talents, regardless of geography, and can secure them for their workforce. Our technology can help streamline this process of managing teams and vendors around the world, while keeping compliant with local tax and legislation requirements.”
Hiring trends in Singapore and Asia Pacific
The rise of extended remote working as an option, alongside the challenge of cross border immigration introduced by the pandemic, has driven a new global hiring movement.
According to Deel’s recent State of Global Hiring Report, there has been a 227% increase in hiring remote employees and contractors in Asia Pacific, this follows behind a 286% and 250% increase in the Latin America and Europe, Middle East, and Africa regions, respectively.
Employers anticipate strong demand for talent across key sectors
Digital roles continue to drive most demand globally: IT and technology reported strongest outlook (+44%)
In Singapore, businesses remain eager to hire international talent. According to Deel’s latest data, the most popular countries that businesses here are hiring from include the United States (11%), Philippines (11%), India (9%), Australia (6%) and Indonesia (6%). Additionally, the top roles that Singapore companies are hiring for are virtual assistance (24%), software engineers (22%), software developers (9%), community managers (8%) and content writers (7%).
How Singapore businesses are supported
By removing barriers of hiring international talent, it is easier now for businesses to create, sign, and send compliant localised contracts to their new hires. With more than 250 legal, accounting, mobility, and tax experts as partners, Deel covers over 150 markets around the world. While It is key that businesses are compliant with local hiring laws, understanding the local nuances is also vital. Deel gathers insight from dealing with its business partners, including specialised hiring agencies , head-hunters and direct engagement with talents to understand the subtle permutations of local talents.
With such a platform, businesses overseas can now tap into Singapore’s skilled talent pool and onboard people compliantly within minutes – all without a local entity. Today, Singapore currently ranks second, just behind Australia, as Deel’s fastest growing markets in APAC.
