Are fresh graduates at risk of long-term unemployment?

CHIEF OF STAFF TV: Employers have shifted their hiring strategies in the midst of the pandemic, with experienced candidates in relative higher demand, Singapore-based HR consultant Sam Neo has told The HR Agenda.

While the shift has been slight, it still leaves more than one million 2021 graduates entering the workforce at an extremely challenging time.

"The shift has happened to some extent but for the more progressive companies (and those with more resources), they are not neglecting the fact that they need to have young talents constantly renewing," he told Chief of Staff Asia's panel discussion show.

"So scholarships and management trainee programs are still ongoing (and) in Singapore in particular, we have seen a lot of employers leveraging on government schemes where they bring in graduates on a trial or traineeship basis."

Still, Neo says that the most highly skilled talent will continue to rise to the top. "If you are really good talent, ultimately you will still be well paid," he added.

According to local statistics, the number of graduates scoring full-time jobs decreased from 81.7% in 2019 to 69.8% in 2020. While part-time employment amongst graduates increased significantly from 7% in 2019 to 22.3% in 2020.

Similarly, in Malaysia the number of unemployed graduates rose to 22.5% in 2020.

Hear more from Chief of Staff Asia's Justin Harper and Sam Neo in the clip below, or see the full episode of The HR Agenda at this YouTube link.

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