7 in 10 Singapore workers worry about their skills becoming obsolete

This thinking is most prevalent amongst IT workers.

Whilst Singapore still 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 to 58% of professionals, managers, executives and technicians (PMETs), 61% of engineers, and 59% of finance and accounting workers.

The concern is also higher among Gen Y workers (74%) as compared to Gen X workers (63%) where almost 4 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 8 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.

“Employers who empower their people, and provide learning opportunities that build skills and competencies will be able to better attract and retain their top talent. Job seekers who are looking to diversify their skills may also want to consider growing industries where the need for talent is stronger," he noted.