Beyond Borders: Why Singapore Employers Are Turning to Regional Finance Talent
Beyond Borders: Why Singapore Employers Are Turning to Regional Finance Talent
Singapore’s finance sector has long been powered by a highly skilled local workforce. But in recent years, employers have found themselves in an increasingly competitive market for talent. From FP&A managers and controllers to compliance and risk specialists, demand continues to rise while the local supply of qualified professionals struggles to keep up. Salaries have escalated, headhunting is relentless, and many companies are asking the same question: where else can we find the people we need?
For more employers than ever, the answer lies just across the border.
The Local Talent Squeeze
Singapore produces excellent finance professionals, but the numbers simply don’t match the demand. As businesses expand across Asia and face complex regulatory standards, the gap between supply and need has widened. Entry- and mid-level positions are often the hardest to fill, while senior leaders remain in constant demand from competitors.
On top of this, generational expectations are shifting. Younger professionals increasingly value growth opportunities, flexibility, and work-life balance, making them more selective in their career choices. Offering higher pay alone is no longer enough. Employers are contending with:
A shortage of finance professionals with strong digital transformation or automation experience.
Compliance and risk roles becoming more critical and harder to secure.
Retention challenges that mirror recruitment challenges, as finance talent is courted aggressively across industries.
Why Employers Are Looking Regionally
The rise of remote and hybrid work has redrawn the talent map. Employers are no longer limited to Singapore’s borders — and nearby markets offer deep pools of finance professionals who are both cost-effective and highly capable.
Many of these professionals are trained in international accounting standards, experienced in regional markets, and well-versed in digital finance tools. They can integrate into Singapore-based teams with relative ease, bringing not only skills but also valuable regional insights.
Cost efficiency without compromising on quality.
Speed to hire, as the talent pool expands dramatically beyond local borders.
Specialised expertise concentrated in established hubs: Malaysia for shared services, India for analytics, the Philippines for BPO finance operations.
Proximity advantage, with ASEAN’s aligned time zones enabling real-time collaboration.
The Strategic Upside of Cross-Border Hiring
Regional hiring should not be viewed as a temporary fix. When approached strategically, it becomes a long-term advantage.
Cross-border teams give employers the ability to scale quickly, adapt to market fluctuations, and gain perspectives that strengthen regional expansion. For companies that aspire to build a truly regional footprint, these teams can also serve as a bridge into new markets.
Scalability: Blend local and offshore staff to grow teams faster.
Diversity of perspectives: Tap into regional knowledge that informs strategy.
Resilience: A distributed workforce is less vulnerable to local shortages or disruptions.
Employer brand strength: Diverse and inclusive teams are more attractive to future candidates.
The Challenges Employers Must Navigate
Of course, cross-border hiring introduces new layers of complexity. Employers need to be deliberate about how they approach it.
Regulatory compliance remains the most immediate hurdle — from work pass requirements in Singapore to employment terms in neighbouring markets. But there are also softer, people-focused challenges: how to build cohesive teams across borders, how to safeguard financial data, and how to make offshore hires feel like part of the organisation rather than outsiders.
Regulatory compliance: Understanding MOM guidelines and cross-border employment rules.
Team management: Ensuring alignment across cultures, expectations, and communication styles.
Data protection: Protecting sensitive information when teams are distributed.
Integration: Avoiding silos between offshore and onshore teams.
Retention: Offshore staff are also in demand locally, and turnover can be high if engagement is lacking.
Employers who succeed are the ones who treat these challenges as part of a broader workforce strategy rather than an afterthought.
Building a Workforce for the Future
Cross-border hiring is no longer just about cost reduction — it’s about building a finance function that is resilient, adaptable, and future-ready. The strongest teams are those that combine a core of local expertise, focused on strategy and compliance, with a flexible regional layer that provides scale and efficiency.
Employers who invest in proper onboarding, continuous upskilling, and intentional culture-building will find that regional hiring strengthens, rather than fragments, their workforce. In many cases, these teams not only meet today’s needs but also open doors for tomorrow’s opportunities.
Onshore for strategy, offshore for scale: a sustainable blend of strengths.
Continuous upskilling to keep teams ahead of regulatory and technological shifts.
Culture and engagement as the glue that holds distributed teams together.
Forward-looking leadership that sees regional talent not as a backup, but as a core pillar of growth.
Closing Thought
The borders are blurring, and Singapore’s finance workforce is entering a new era. Employers who embrace cross-border hiring now — with clarity, structure, and strategy — will not only solve today’s talent shortages but also position their organisations for growth across the region.
