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Future of Work

89% of respondents are willing to be re-trained to avoid unemployment

15 JUNE 2020, SINGAPORE – Randstad Singapore‟s latest Workmonitor survey revealed that 89 per cent of respondents are willing to be retrained to ensure their employability.

This sentiment is highest among mature workers, with 93 per cent of respondents aged 55 and above sharing it.

Ms Jaya Dass, Managing Director, Malaysia and Singapore at Randstad said, “People are faced with a heightened pressure to keep their jobs in this very challenging climate. However, it is also the time that employees tend to think about their skills gap and career aspirations. There is no better time to upskill or re-skill, especially for those whose jobs have been impacted by the pandemic. The training and development programmes can help equip workers with skills to fill the gap and develop agility, which would create more job opportunities for them within the same organisation or with a different employer.”

Younger workers are more attractive to employers

The wave of digitalisation has started to reshape traditional businesses, requiring talent to be well versed in digital and technical skills.

Many employers recognise younger workers as “digital natives” who have the potential to drive technological change and improve work efficiency.

This sentiment is reflected in our survey as well, with 79 per cent of respondents believing that younger workers are more employable due to the “tech-savvy” skills they possess. 85 per cent of those aged 55 years old and above echoed the same.

Dass explains, “Younger workers are more energetic, creative and innovative. They are also more likely to bring fresh, outside-in perspectives that are valuable to the organisation. Having grown up attuned with the latest technologies, the younger generations are naturally a highly attractive talent pool to organisations that want to stay at the forefront of digital technology and transformation.”

“That said, all organisations must practise diversity and inclusivity. Companies that don‟t practise fair employment practices will lose out on their ability to build a highly-skilled workforce that would benefit the business in the long-run. Employers need to hire a mix of workers of different ages and backgrounds and invest in their individual professional development profiles. With varied experiences and viewpoints shared across different generations, a multi-generational workforce can result in the development of effective and innovative strategies that will drive business growth.”

3 in 5 feel current training programmes are insufficient

Though 68 per cent of respondents agree that their employers are committed to helping them grow professionally, one in three (64 per cent) feel that current employer upskilling programmes are insufficient and do not adequately prepare them for the skills they need in the future.

“As technology rapidly changes the nature of jobs, the need for workers to develop new skills and competencies has become more urgent. There exists a need for employers to create a customised training roadmap aimed at helping their employees advance their careers and stay competitive. By aligning development programmes with market trends, the organisation will be primed with a highly-skilled workforce that is ready to solve new problems. As work-from-home is the default arrangement until Phase 3, employers are encouraged to offer a more accessible training programme that involves both online modules and self-learning,” Dass said.

The 2020 Randstad Workmonitor Q1 survey was conducted from March 13 to 30, 2020 with a minimum sample size of 400 per market.

 

About the Randstad Workmonitor

The Randstad Workmonitor was launched in 2003 and now covers 34 markets around the world. The study encompasses Europe, Asia Pacific and the Americas. The Randstad Workmonitor is published twice a year, making both local and global trends in mobility visible over time.

The Workmonitor‟s Mobility Index, which tracks employee confidence and captures the likelihood of an employee changing jobs within the next 6 months, provides a comprehensive understanding of sentiments and trends in the job market. Besides mobility, the survey addresses employee satisfaction and personal motivation as well as a rotating set of themed questions.

The study is conducted online among employees aged 18-65, working a minimum of 24 hours a week in a paid job (not self-employed). The minimum sample size is 400 interviews per country. The Dynata panel is used for sampling purposes. The first survey of 2020 was conducted from March 13 to 30, 2020.

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