In a world of work that is radically transformed by digitalization, employers are finding it difficult to find talent with the right skills. Close to nine in 10 (89 percent) of respondents expect their employers to invest more in developing their digital capabilities to help them stay employable.

According to the latest Q2 2019 Randstad Workmonitor study, 87 percent of local respondents feel equipped to deal with digitalization in their jobs. Despite being prepared for the future of work, 63 percent of respondents expect their jobs to be automated in the next five to 10 years. This is 29 points higher than the global average (34 percent).

Jaya Dass, Managing Director at Randstad Singapore and Malaysia, said, “The fourth industrial revolution will dramatically change the skills that companies need to be innovative and make progress. We observe that it will be a collective effort by job seekers, employers, and educators to build a future-ready workforce. Companies should start by looking at the skill and talent gaps, invest in training programs to get their workforce up to speed, and help prepare them for the future where job responsibilities are expected to be more complex and sophisticated.”

When it comes to sourcing talent, 55 percent said that their employers are having trouble finding people with the right skills today. Close to two in three (63 percent) said that it will be more difficult for their employers to find the right talent in the future.

In addition, 71 percent said that their employers have a need for workers with STEM profiles. Similarly, analysis of vacancy data shows that the median advertising duration for a STEM vacancy is more than twice as long as compared to a non-STEM vacancy.

“The fourth industrial revolution focusses on applying technology in meaningful ways to improve the overall quality of life and how we can essentially interact with each other. We foresee the shortage of STEM professionals in Malaysia will impact the speed of development in expanding industries such as technology, smart manufacturing, and engineering, as well as financial technology. However, the increasing number of career opportunities that require STEM qualifications will motivate more people to equip themselves with relevant technical skills as they seek to remain employable,” Dass concludes.