APAC Is Becoming a Remote Talent Magnet
- By DWFTrends editors
- August 22, 2022
It's no surprise that with the pandemic continuing to impact economies around the world, businesses have been turning to remote work as a way to stay afloat. What is surprising, however, is just how quickly this shift has happened.
In just a matter of months, we've seen a complete 180 degrees in how businesses operate. Where previously companies were reticent to allow their employees to work remotely, now it's become the norm. And with good reason.
Data from Deel shows that across all regions, rates of global hiring have increased by 145% or more. This is especially true in LATAM and APAC, where we're seeing a 161% and 159% increase in organizations hiring abroad, respectively.
This shift to remote work has opened up a whole new world of opportunity for businesses regarding hiring. No longer limited by geographical boundaries, companies can now access a global pool of talent that was previously out of reach.
And with the quality of candidates in APAC especially high, it's becoming an increasingly attractive region for businesses looking to hire remotely. The persisting talent crunch is only further pushing companies towards Asia in search of the best and brightest minds.
In Singapore alone, Deel data shows that the most popular countries to seek international talent from are the Philippines (12%), India (12%), the U.S. (11%), Indonesia (6%), and Canada (4%). Singapore-based businesses have been hiring from these countries for positions such as virtual assistants (26%), software engineers (22%), software developers (10%), content writers (9%), and community managers (8%).
In APAC, countries such as Australia (292%), Singapore (170%), and India (158%) have emerged as the top three fastest-growing countries in terms of companies' rate of hiring since H2 2021. What's more, the high demand for APAC talent is reflected in the salaries. Across all job titles, Deel saw average salary gains of 122% in India, the Philippines, and Thailand.
Meanwhile, recruiters in countries such as the U.S., U.K., Canada, Israel, and the Virgin Islands are increasingly turning to Singapore for talent. Sales and software engineering roles are currently the highest paying positions offered to Singaporean remote workers.
“Businesses must continue reinventing the way they communicate, operate, hire, and retain employees by pivoting to remote and flexible working arrangements. This has lent organizations the much-needed agility and efficiency to tackle a myriad of pain points – from addressing the challenges of talent crunch exacerbated by border restrictions to accommodating growing employee demands for workplace flexibility,” said Karen Ng, Deel’s regional head of expansion & market lead for Hong Kong, Singapore, ASEAN, and India.