The pandemic has resulted in a dire skills gap.
About half of employers in Singapore said they are open to hiring candidates with no prior relevant experience – but there is a catch. Candidates must have undergone some form of industry-related skills training or hold industry certifications.
The pandemic has widened the existing skills gap and led to many career-switchers looking to try their luck in a new industry after facing retrenchment. Candidates may also be seeking better opportunities in more promising sectors.
The study by NTUC LearningHub (LHUB) found that about three in four employers (72%) have found it challenging to fill job roles due to a shortage of talent with the required skill sets.
This may be why two in three (67%) leaders said they are willing to hire individuals with ‘micro-credentials’ or a professional cert to close any skills gaps in their workforce.
The top three reasons for the causes of the shortage of talent include:
- Unattractive remuneration packages for in-demand talent (54%)
- New technologies outpacing the supply of talent with the right skills (51%)
- Candidates’ disinterest in pursuing certain jobs (49%)
According to the online survey, employers from the manufacturing (61%) and trade & connectivity (54%) sectors were the most open to hiring inexperienced candidates.
While employers from the built environment (68%) and manufacturing (61%) sectors were the most open to hiring candidates with no educational degree but had accumulated industry-related professional certifications.
Many industries that were once flourishing have been hit hard by the black swan event that is COVID-19, and many jobs are changing faster than before.
Some of the most in-demand skills that we see today did not exist a decade ago, and the same pattern will occur – the core skill sets that are essential in the future may not be possessed by employees today.
Hence, it is crucial to continually scan the horizon to swiftly determine emerging trends, upskill, and reskill to gain a first-mover advantage that will provide more opportunities in the future of work.
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