Nearly 9 in 10 R&D professionals bullish about future of product development

Respondents cited the government’s support and clear direction that will boost R&D.

Majority (88%) of research and development (R&D) and tech professionals in Singapore are expecting the Lion City to remain competitive as a global science and technology, R&D and product development hub in the next 10 years, according to a survey by SGInnovate.

The respondents highlighted that the government’s strong support and clear direction are the top reasons why the nation will continue to retain its competitive edge.

In addition, 84% of these professionals shared that it is rewarding in terms of career prospects and remuneration when pursuing an R&D or technical role in Singapore, as there are tremendous growth opportunities in this sector and a chance to experience and create cutting-edge technology.

The study also added that seven out of 10 respondents (70%) indicated that the current R&D and technical professionals in the city’s engineering discipline have high-quality technical skill sets.

Three out of five respondents further highlighted that professionals in computer science (62%) and science (60%) fields have high-quality technical skill sets and mindset as well.

Despite Singapore’s success in developing its human capital for its science and technology industry, R&D and tech professionals believe that there is still room for improvement.

The study found that less than half of the respondents believe that there is a high prevalence of soft skill sets (48%) and entrepreneurship spirit (47%) in the current talent pool. Soft skill sets include attributes such as communication, critical thinking, collaboration, and computational learning.

However, the hard skillsets of Singapore’s R&D and technical professionals are well-recognised, with almost seven out of 10 respondents (68%) indicating that there is a high prevalence of strong, hard skill sets in the local talent pool.

Another critical talent-related challenge in Singapore’s science and technology sector is the retention of existing professionals, as respondents cited that Thailand, Indonesia and Malaysia will be the nation’s greatest competitors in Southeast Asia.

“Small companies and startups are often disadvantaged when it comes to competing and retaining professionals because they do not have the deep pockets nor the reputation. They would need to develop alternative talent retention strategies or run the risk of brain drain and talent crunch in the near future,” the report noted.