GO­ING OBSOLETE

Singapore Business Review - - FIRST -

Whilst Sin­ga­pore has a highly-skilled work­force, some of the work­ers worry that their skillsets are be­com­ing obsolete. The 2017 Kelly Ser­vices and Capita Salary Guide re­vealed that whilst Sin­ga­pore work­ers may be con­fi­dent of their mar­ket power to­day, un­cer­tain eco­nomic con­di­tions, the an­tic­i­pated rise in over­all un­em­ploy­ment to 2.3%, and the steady in­crease in re­dun­dan­cies since 2010 has given rise to con­cerns about their fu­ture.

Around seven in 10 work­ers men­tioned that their top con­cern is of their knowl­edge and skills be­com­ing obsolete. This think­ing was seen the most amongst IT work­ers, with 64% of them say­ing so. Mean­while, this con­cern is also ap­par­ent in 58% of pro­fes­sion­als, man­agers, ex­ec­u­tives, and tech­ni­cians (PMETS), 61% of engi­neers, and 59% of finance and ac­count­ing work­ers.

Gen Y vs Gen X

The con­cern is also higher among

Gen Y work­ers (74%) as com­pared to Gen X work­ers (63%) where al­most four in 10 work­ers (37%) cited be­ing more con­cerned about lay­offs. Ap­prox­i­mately three in 10 Sin­ga­pore work­ers in­di­cated lay­offs as their big­gest con­cern.

Kelly Ser­vices said Sin­ga­pore’s work­ers are seek­ing ways to be as re­silient as pos­si­ble. More than eight in 10 work­ers (83%) in­di­cated a de­sire to grow their skill set and recog­nised that their skills and knowl­edge will need to con­tinue to evolve and grow. This is con­sis­tent across both Gen Y (84%) and Gen X (83%) work­ers and em­ploy­ees around the globe, with work­ers in APAC (82%), Amer­i­cas (80%) and Europe, Mid­dle East and Africa (86%) echo­ing a sim­i­lar sen­ti­ment.

Foo See Yang, man­ag­ing di­rec­tor and coun­try head for Kelly Ser­vices Sin­ga­pore said whilst in­dus­tries ex­pe­ri­enc­ing high growth are in a bet­ter po­si­tion to pro­vide com­pet­i­tive re­mu­ner­a­tion, em­ployee en­gage­ment and re­ten­tion goes be­yond the em­ployee’s pay packet.

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