Future Proof your Career – Employment Resilience in Singapore
Speaking at a citizen’s panel discussion on employment resilience in February 2023, Manpower Minister Tee See Leng emphasized: “In an increasingly uncertain and volatile world, the risk of displacement and involuntary unemployment is very real” (Teo, J., 2023). This reality has been starkly highlighted in 2023, as tech jobs are disappearing at an unprecedented rate. For instance, Google’s parent company Alphabet recently laid off 12,000 workers, representing 12% of its workforce (Philips, W.G., 2023). What seemed to be a promising industry has experienced mass layoffs, with nearly 218,500 job cuts reported (Yosifova, A., 2023).
What are your greatest worries in your career?
From a survey done by PwC in 2021, 50% of Singapore workers think their job would likely be obsolete within five years – a more pessimistic view compared to 39% globally. (PwC, 2021)
- 65% are worried that automation is putting many jobs at risk
- 64% think few people will have stable, long-term employment in the future
- 63% feel that their government should act to protect jobs, with that feeling being most acute among 25-34 year olds (67%)
- 50% think it’s likely that their job will be obsolete within five years
Government Initiatives to Enhance Employment Resilience
The Singapore government is actively gathering feedback on how to help Singaporeans adapt and protect their careers. The focus is on encouraging individuals to take ownership of their careers, understand evolving global and industry trends, and stay relevant. A series of panel discussions on employment resilience will culminate in final recommendations to be presented on March 25, 2023.
News Links on Employment Resilience:
How Up-skilling/Re-skilling Enhances Employment Resilience
Adopting a proactive approach to re-skilling and up-skilling makes you more agile professionally, equipping you with current skills relevant for new job opportunities. At Citadel Search, we observe that candidates who actively upgrade their skills are more favorably considered by employers. For instance, Mr. X, with over 15 years in Supply Chain, distinguished himself by earning additional certifications in data analytics. Similarly, Miss Y, an HR professional for 20 years, became more industry-relevant by obtaining two new certificates, which she now uses to coach others in her organization.
Developing career resilience is crucial. Embrace the challenge of acquiring new skills to remain competitive. While researching potential industries, if you find skill gaps, online courses can help bridge them. Sites like Coursera and Udemy offer numerous short courses to enhance your repertoire.
Useful Links for Employment Resilience:
There are many future skills courses online where you can upskill yourself and future proof your career. Here are some useful sites you can check out:
In Singapore, the SkillsFuture initiative provides opportunities for lifelong learning, supported by the Future Economy Council, education providers, employers, and unions. It’s essential to engage in career planning proactively rather than waiting for the risk of unemployment.
Take Charge of Your Career
Citadel Search encourages you to take active steps to manage your career. Utilize available resources to stay engaged and connected.
Steps to Take Charge of Your Career:
By incorporating up-skilling and re-skilling strategies, you can proof your career against future uncertainties. This ensures you stay competitive and relevant in a rapidly changing job market. It’s vital for retrench workers and affected employees to consider retrenchment benefits and maintain a longer notice period for a long term view. Leveraging platforms like Workforce Singapore and building a robust professional network will enhance your lifelong learning journey. Whether you are a retrenched employee or working full-time, understanding your year of service and the Employment Act will help navigate the job market. Meeting manpower needs including anticipating future business trends and enhancing soft skills will ensure you are prepared for any retrenchment exercise.