- \n
- 52%
\n think that their companies lack employees with the right skill sets to
\n achieve current business goals<\/i><\/li>\n- 67%
\n say they are willing to hire individuals with micro-credentials or
\n industry certifications to close skills chasms.<\/i><\/li>\n- 53%
\n are ‘open’ or ‘very open’ to hiring candidates with no prior relevant
\n experience but have undergone function or industry-related skills
\n training, while 37% say they are ‘somewhat open’.<\/i><\/li>\n<\/ul>\nSINGAPORE –\u00a0Media OutReach<\/a>\u00a0–
\n17 December 2020 – As companies pivot and transform their business
\nmodels amid the pandemic, the skills gap has widened. In order to secure the
\nright competencies required to drive transformation, two in three (67%)
\nemployers say they are willing to hire individuals with micro-credentials or
\nindustry certifications to close skills gaps. In addition, majority of them are
\n‘open’ or ‘very open’ (53%) and ‘somewhat open’ (37%) to hiring candidates with
\nno prior relevant experience but have undergone industry function or
\nindustry-related skills training. These are some of the key findings from NTUC
\nLearningHub<\/a>‘s recently launched survey in The New Normal of Sector Skills
\nreport.\u00a0<\/p>\n![](\"http:\/\/release-manager.media-outreach.com\/i\/112504\/PRESS-RELEASE-Jobandskills-repor.jpg#image-112533\")
<\/p>\nThe survey, which was conducted online in October 2020 with
\n367 business leaders (senior managers or directors and above) and 567 full-time
\nemployees working in Singapore, aimed to uncover the latest employment trends
\nand skill sets in-demand as the workforce settles into the New Normal.<\/p>\nIn general, when asked if their companies have sufficient
\ntalent to meet their business goals, less than half (48%) agree or strongly
\nagree, while close to three in four employers (72%) find it challenging to fill
\nthe roles due to shortage of talent with the required skill sets.<\/p>\nThe top three reasons which employers believe are the causes
\nof the shortage of talent include ‘remuneration packages not attractive enough
\nfor in-demand talent’ (54%), ‘new technologies are outpacing supply of talent
\nwith the right skills’ (51%) and ‘lack of interest from talent to pursue lines
\nof work in which there are talent shortages’ (49%).\u00a0<\/p>\nAcross the industry clusters, employers from Manufacturing
\n(61%) and Trade & Connectivity (54%) are the most open to hiring
\ninexperienced candidates who have undergone relevant industry skills training,
\nwhile employers from Built Environment (68%) and Manufacturing (61%) are the
\nmost open to hiring candidates with no educational degree but have accumulated
\nmicro-credentials or industry certifications.<\/p>\nCommenting on the findings, NTUC LHUB’s Chairman, Eugene
\nWong, says “Many industries
\nthat were once flourishing have been hit hard by the black swan event that is
\nCOVID-19, and many jobs are changing faster before. Some of the most in-demand
\nskills that we see today did not exist a decade ago, and the same pattern will
\noccur — the core skill sets that are essential in the future may not be
\npossessed by employees today.”<\/p>\n“Hence, it
\nis crucial to continually scan the horizon to swiftly determine emerging
\ntrends, upskill and reskill to gain a first-mover advantage that will provide
\nmore opportunities in the future of work. The first step is often the hardest
\nto take, and NTUC LHUB strives to help employees and employers take that leap
\nthrough our ‘think tank’ research endeavours that periodically deep dive into
\nSingapore’s market outlook, linking them strategically to the training
\nresources that we provide, for the most optimal upskilling and reskilling
\noutcomes.”<\/p>\nNTUC LHUB’s Director of Technical Skills Product Division,
\nTay Ee Learn, added, “The pandemic has accelerated the need for newly emerging
\nskills across many industries, causing many companies to experience a mismatch
\nbetween the skills of their employees and the skills required to drive business
\nperformance in the New Normal. In the past, many companies focused on hiring
\nemployees with a degree certification. However, to plug the skills gaps, we
\nwitness a mindset shift, where there is an increased willingness to hire
\nemployees with industry-related skills training or micro-credentials.”<\/p>\n“Leveraging this trend, individuals seeking new career
\nopportunities can take up short courses to upskill and reskill as well as
\naccumulate micro-credentials that companies now value. We hope that the report
\nguides readers to reassess the market outlook, reskill to close skills gaps,
\nand reset for growth in 2021.”<\/p>\nTo download The New Normal of Sector Skill report, visit\u00a0https:\/\/www.ntuclearninghub.com\/sector-skills-report-2020<\/a><\/p>\n<\/p><\/div>\n\n
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- 67%