In a world of work that is radically transformed by digitalization, employers are finding it difficult to find talent with the right skills. Eighty-three (83) percent of respondents expect their employers to invest more in developing their digital capabilities to help them stay employable.
According to the Randstad study, 79 percent of the local respondents feel equipped to deal with digitalization in their jobs. Despite being prepared for the future of work, 51 percent of respondents expect their jobs to be automated in the next five to 10 years. This is 22 points higher than the global average (34 percent).
Jaya Dass, Managing Director at Randstad Singapore and Malaysia said, “Many companies in Singapore are already on a digital transformation journey. Not only are firms investing in new technology, but they are also hiring professionals to develop and market innovative products and solutions to stay competitive. As a result, employees expect their employers to invest in their professional development and equip them with the skills required for the future of work. This means not just attending training courses, but also having honest discussions on how skills requirements and job scopes will change in the future, and the actionable steps companies expect their employees to take to remain employable.”
When it comes to sourcing talent, 67 percent said that their employers are having trouble finding people with the right skills today. Close to seven in 10 (68 percent) said that it will be more difficult for their employer to find the right talent in the future.
In addition, 55 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.
“In a candidate-short and mature market like Singapore where the unemployment rate remains below five percent, it can be very challenging for employers to identify and secure highly-skilled candidates,” Jaya adds. Even with a slowing economy, we still see active demand for candidates who are equipped with the right skills. Therefore, it is critical for job seekers to know which skills they would need to acquire to stay relevant, and upskill themselves through either subsidized courses or internal training programs to remain attractive to hiring employers,” Dass concludes.