Survey: 9 in 10 workers see need to boost skills in uncertain job market

Employees also expect it will be tough to secure new roles, given the recession. ST PHOTO: KUA CHEE SIONG

Employees, especially older ones, are more concerned about being retrenched or becoming irrelevant in the increasingly uncertain job market, a survey noted.

It found that 90 per cent of respondents employed in Singapore believe they will need to reskill or upskill to stay competitive in the post-pandemic world.

Employees also expect it will be tough to secure new roles, given the recession, while 88 per cent feel that companies will prefer candidates who can perform multiple roles.

The poll by United Overseas Bank (UOB) also found that 87 per cent expect employers to digitalise instead of hiring staff or turn to retrenchments to cut costs.

Concerns around job security were felt most strongly by older Singaporeans, with a marked 98 per cent of those between 56 and 65 focused on reskilling and upskilling to stay relevant. About 90 per cent of those aged 24 to 55 said the same.

The study was conducted by UOB and data services company Blackbox in July among 3,510 individuals aged 18 to 65 in five South-east Asian countries, including 1,030 here.

The pandemic has reaffirmed the importance of adaptability and continual learning to ensure people are ready to take on changing job demands and seize opportunities, said Mr Dean Tong, UOB head of group human resources.

He added that as digitalisation accelerates, it is imperative that employees develop the skills needed for a future of work dominated by digital technology and data.

THE BUSINESS TIMES

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A version of this article appeared in the print edition of The Straits Times on October 23, 2020, with the headline Survey: 9 in 10 workers see need to boost skills in uncertain job market. Subscribe