Shulou(Shulou.com)11/24 Report--

According to a report released today by Singapore recruitment platform Glints, despite layoffs by large technology companies such as Google and Amazon, start-ups in Southeast Asia are still facing a shortage of scientific and technological talent. This is mainly because traditional industries such as banking and retail are becoming increasingly digital, increasing the demand for scientific and technological talent.

About 86 per cent of founders said they would increase the number of employees this year, according to Glints. Among them, the demand for engineers and data scientists is very high, and their average income is 38% higher than that of non-tech jobs such as sales and marketing.

"Tech talent is being reassigned from large technology and growth companies to early-stage start-ups," said Oswald Yeo Yang, co-founder and CEO of Glints. "We think this is a very healthy thing for the ecosystem."

Yang Hexiang also said: "compared with the past two years, the market competition for scientific and technological talents will be weakened." Glints is one of the most active recruitment platforms in Southeast Asia, linking more than 3 million professionals with 50000 start-ups

Last year, Singapore tech giant Sea laid off more than 7000 workers, while GoTo, Indonesia's largest technology company, laid off about 12% of its employees because of slowing growth and fears of a recession. At the same time, large US technology companies with operations in Southeast Asia, such as Google, Meta and Amazon, have also cut jobs.

Even so, the demand for scientific and technological talents in Southeast Asia is still high. Glints says this is mainly because traditional industries such as banking and retail are becoming increasingly digital, increasing the demand for technology talent.

Engineers are the most popular talent in Singapore, Indonesia and Vietnam, according to Glints. Among them, the base salary for positions such as vice president of engineering was as high as 235200 US dollars last year. After engineering, those with professional products and data skills are paid the highest.

"We see that the gap between supply and demand for tech talent is still very large," said Justin Nguyen, a partner at venture capital firm Monk's Hill Ventures. In Vietnam, for example, there is a shortage of about 100000 engineers a year.

But with recessionary pressures mounting and financing prospects weakening, start-ups are also forced to become more selective in hiring. Compared with the cash-rich days of previous years, many start-ups have tightened their pay.

Glints said in a report that the growth of high-salary jobs in the technology industry will "slow or remain flat" this year. Among them, Indonesia's growth rate is expected to be 10%, down from 25% to 40% in the past few years. In Singapore and Vietnam, the ceiling is likely to be halved to 15 per cent and 10 per cent, respectively.

"for many start-ups, this is a critical moment," the report said. Founders need to do more with less, while maintaining discipline in the way they operate, focusing on a path of profitability and positive cash flow. "

To make up for it, more startups are offering shares to their employees. In the interview, 86 per cent of the companies surveyed launched an employee stock ownership plan (ESOP). But according to the report, this (ESOP) is limited to the respondents of 1Compact 3, mainly managers and senior managers.

Justin Nguyen said: "We are still in the early stage of employee stock ownership. As a result, employee shareholdings of start-ups in Southeast Asia are smaller than in more mature markets such as the US and China."

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