Majority of the Singaporeans to focus on skilling: Randstad

Jaya Dass, Managing Director, Malaysia and Singapore at Randstad said, ”People tend to expect and plan for the worst-case scenario, especially since we are starting to learn of the long-term impacts of the pandemic on the economic and labour markets. As such, many employees have demonstrated their interests for re-skilling and upskilling programmes to build a variety of skills and exercise more flexibility in their career development."

Hence, it is not a surprise that 86 percent of the local respondents in Randstad's latest survey said that they have the intention to upskill or re-skill in the next 12 months. Of the 86 percent of respondents who are motivated to re-skill and upskill themselves, 55 percent said that they are doing so to be prepared for how automation and digitisation will affect their future; 19 percent are looking to change their career or industry that they work in, while 16 percent mentioned the fear of losing their job due to redundancy. 

Employees are also harbouring greater expectations for their employers to help guide their career development, specifically what type of skills to acquire and how to build their digital capabilities in the ‘new normal’. Dass suggests that employers should strive to meet the employees’ expectations and elevate the quality and readiness of their workforce to prevent a further widening of the skills gap.

The benefits of skilling

The pandemic has resulted in weaker labour market conditions, as the number of unemployed increases and the number of available jobs in the market decreases.

Among the many things undergoing disruption is jobs, there are some that have become more important and “essential” than ever, and there are others threatened to become redundant. The role of sectors like IT/ITeS, FMCG, Pharmaceuticals have become more critical. Further, the demand for digital skills across sectors will be on the rise as operating in the virtual environment now becomes the reality. From education, to banking services, to shopping, and what not will be done virtually, making the role of graphic designers, digital marketers, and coders also important. 

Workers who are able to constantly renew their skills and learn new ones are those who will be most able to find employment in today’s rapidly shifting job market. 

Dass explains, “Job seekers with prerequisite skills and experience in high demand areas, such as technology and research & development, will be able to negotiate for a higher salary when switching employers."

However, she added that individuals whose employment has been impacted by the pandemic are encouraged to keep an open mind, as having a lower salary can still provide a level of income stability during such trying times. New graduates and mid-career switchers looking to enter a new industry or start a career that is unrelated to their past accumulated work experience should also adjust their salary expectations to make up for the lack of required skills and experience to meet job expectations, in line with the increasing unemployment rate. Once they have acquired the skills and experience through robust training programmes offered by their employers and when businesses regain their confidence, they can renegotiate the terms of their employment.