Unabated global digitalisation. Tech talent shortage. A burgeoning start-up ecosystem in Southeast Asia.
As we enter the third year of COVID-19 and look towards slowly easing out of the pandemic, what will the talent landscape look like for startups?
Read on for our 10 SEA startup talent trends forecast.
The talent crunch is set to be a major development bottleneck for start-ups, with the greatest shortfall being in tech.
In Southeast Asia, there are two big overlaying trends – the great amount of public and private investment flowing into the region, and the global marketplace converging here. This has created great opportunities for disruption, says Jeffrey Seah, partner of one of Asia’s top venture capitalist firms Quest Ventures. ”Almost every digital economy idea on paper is able to attract funding. With funding, the clock starts ticking to execute the idea and talent acquisition becomes the first salvo,” he adds.
“Money can be made to move fast, but you can’t train people as fast,” he notes. The confluence of tighter borders, ready capital and limited talent has resulted in a poaching spree, pushing salaries up. Chinese tech companies such as ByteDance and Ant Group are known to offer 50 percent pay increases for junior and mid-level roles, and 20 to 30 percent more for senior roles.