Singapore is leading ASEAN efforts in developing the potential of midcareer workers.

The Lion City is proactively preparing for the future of work through reskilling and lifelong learning, industry transformation, regional collaboration, and AI integration.

The urgency of reskilling and upskilling Singapore’s workforce

There has been a growing gap between the skills that workers possess and those demanded by emerging industries. It’s a challenge seen across industries and geographies.

The tempo of technology advancements, particularly AI and automation, outpaces current training programmes, and this often makes it difficult for workers to keep up with necessary skills.

On one hand, automation will likely displace millions of jobs. On the other, it will create new ones. These shifts lead to uncertainty in employment and the need for effective job transition strategies.

And so, as technology evolves, midcareer workers find their skills outdated. Analysts predict 44% of workers will experience skill disruption within the next few years—a trend that entails continuous reskilling for workers to maintain their competitive edge.

These changes are dividing the job market, creating high-skill jobs while eliminating many midskill roles. The shift can leave midcareer workers in precarious positions if they cannot transition to higher-skilled roles.

Singapore’s ageing workforce also necessitates tailored training and support systems to ensure older workers remain employable.

All this is unfolding amid the fact that rising income disparity poses social challenges—with segments of the workforce becoming increasingly vulnerable to economic shock such as corporate downsizing or retrenchment.

Economic restructuring and layoffs have disproportionately affected midcareer workers, who are often seen as more expensive to employ and harder to retrain.

Lifelong learning initiatives are therefore designed to develop a resilient workforce and to lead to higher productivity levels across sectors. These factors are crucial for maintaining economic growth in a competitive global market.

Nurturing the talent of Singapore’s midcareer workers

Because of these challenges, Singapore’s approach to reskilling and upskilling has been proactive and future-forward.

The government, for one, provides citizens with SkillsFuture credits that enable them to enlist in programmes for sharpening their skills. Meanwhile, the state is also working to identify emerging industries and job roles to help employers align workforce skills with future needs.

As a national initiative, the SkillsFuture Movement promotes self-directed skill development among citizens. All residents aged 25 and above receive S$500 in credits for approved courses.

The programme is said to be more comprehensive than many countries’ sporadic training plans.

Among the target demographics of these skilling initiatives are midcareer professionals. Additional credits and programmes are directed towards developing the competencies and supporting the career transitions of workers aged 40 to 60.

The learning doesn’t stop with a one-time credit. The SkillsFuture Level-Up Programme also includes a $4,000 top-up in SkillsFuture credits for the same age group. The boost aims to enhance midcareer workers’ employability through selected courses.

Meanwhile, Career Conversion Programmes, or CCPs, offer up to 90% salary support for midcareer individuals transitioning into new roles in growth sectors. Training is provided by employers. Similarly, the SkillsFuture Career Transition Programme, or SCTP, works to facilitate employment for midcareer workers looking to pivot to new job roles.

Eligible individuals can also receive financial support through the Midcareer Training Allowance if they are taking on full-time training courses.

Sustaining Singapore’s competitive advantage

Midcareer professionals today face an unprecedented era of shifting business demands, making the pivot to new competencies essential for continued employability.

Looking ahead, this will be a decisive factor in sustaining Singapore’s competitive advantage. Businesses that invest in midcareer talent have an experienced workforce capable of embracing new tech while refining business processes.

Equally significant is how proactive skilling efforts foster inclusivity and resilience, mitigating the social impact of rising income inequality and layoffs.

In cultivating the adaptability of its midcareer professionals, Singapore not only safeguards the immediate employability of its citizens but also fortifies its economic foundations for the future.