Talent shortage derail employer hiring plans in Singapore

SINGAPORE: Employers are planning to increase hiring in 2022, as compared to 2021, but a lack of suitable candidates may be a bigger factor in actual recruitment this year.

According to a new report by NTUC LearningHub, 65% of Singapore employers are hoping and planning to increase their headcounts in 2022, compared to just 56% who had planned to in 2021.

But four in five (78%) of those who are augmenting their workforce are also expecting challenges in filling roles due to a shortage in talent with relevant skillsets. This talent shortage is particularly biting in the areas of Modern Services (87% of employer respondents from this field said the talent shortage was impacting them), Manufacturing (83%), and Essential Domestic Services (80%). The roles in high demand and short supply include those in Infocomm Technology, Energy and Chemicals, and Healthcare.

Exacerbating this talent crunch is the finding that only one in 10 employees (10%) were actively searching for a new job. Most employees (60%) were open to new roles, but not actively looking. Of those, 30% preferred to stay in their current roles due to role satisfaction (60% of respondents cited this reason), current salary satisfaction (33%), and job security (24%).

The report also reveals that employees in the Essential Domestic Services are the least likely to actively search for new jobs, with only 6% actively looking, followed by Manufacturing (7%), and Modern Services (10%).

These are some of the major results of NTUC LearningHub's recent Emerging Jobs and Skills Report, which aimed to uncover a dual perspective about the current job market, emerging jobs and skills, and the training landscape. It surveyed over 650 working professionals from the six main industries in Singapore in December 2021.

"NTUC LearningHub has been working closely with companies to curate outcome-focused training to place employees with (the) latest industry-relevant skills set in their companies," Anthony Chew NTUC LearningHub's Director of Infocomm Technology said, "This is achieved through our 'train and place' and 'place and train' programs where we work with employers and NTUC's e2i to match them with mid-career switchers who have reskilled through our programs, or help their new hires undergo targeted classroom training and on-the-job training."

124 views0 comments