Singapore finance firms struggle as 72% face talent gap

Survey shows 94% are revising financial and operational plans to secure workers.

Singapore’s finance and insurance employers are struggling to find talent, as 72% have expressed difficulty finding skilled workers, according to the latest 2026 Global Talent Shortage Survey by ManpowerGroup.

Whilst this contributes to a broader national trend where 71% of all employers report hiring difficulties, the finance industry remains under significant pressure compared to the local average.

The nature of technical demand has shifted rapidly toward Artificial Intelligence. 
For the first time, AI Model and Application Development is the hardest skill to find, cited by 26% of employers. 

This is followed closely by AI Literacy at 25%. Traditional IT and data roles, which were the most difficult to fill in 2025, have now dropped to seventh place, with only 17% of firms reporting a shortage in those specific areas.

Despite the focus on technology, financial employers are placing a high premium on human attributes. Professionalism, work ethic, and adaptability are currently the most sought-after non-technical traits, each cited by 34% of companies.

To address these gaps, 94% of Singaporean employers are adjusting their financial and operational strategies.

Approximately 18% of firms have committed to increasing wages to attract talent, whilst 26% are investing in internal upskilling and reskilling programs. 

Other companies are turning to the temporary workforce or offering flexible work locations to stay competitive.

These figures come at a time when overall hiring activity in Singapore is subdued. 

ManpowerGroup notes that whilst the current 71% national shortage is the lowest recorded since 2021—down from 83% in 2025—the scarcity of AI-specialised talent could become more severe if hiring activity picks up later this year.