Reskilling, upskilling not an option

SINGAPORE may be ahead of the curve in digital transformation, but this comes at a price. The workforce is struggling to keep up. In fact, more than nine in 10 Singapore employers say that it is difficult to train staff on new technology, despite increased investments in staff training initiatives.

Technology and automation are inevitable for meeting our immediate and longer-term challenges, but this comes with the uncomfortable question about how we, as a people, should stay ahead of the curve. This is clearly a big-enough question, considering that 76 per cent of Singaporeans are worried about the rapid change in the skills they need to succeed. It was not too long ago, after all, that skills in MS Office was enough to get you a job.

Take the manufacturing sector, for example; in the Asia-Pacific, Singapore will be hardest hit by labour shortages in manufacturing - with the deficit equivalent to 61 per cent of the workforce. The coming smart manufacturing revolution will mean increased productivity, better quality, economic growth and more, but only if workers develop the right skills to keep up with the changes.