More competition for roles among graduates, employers flag skills gap: LinkedIn
Number of job postings per applicant falls 8% over the last year, based on LinkedIn studies
[SINGAPORE] Fresh graduates face a double whammy of fewer job openings and a growing mismatch between vacancies and skills.
Studies conducted by LinkedIn revealed that the labour market has tightened for jobseekers in Singapore, with the number of job postings per applicant falling 8 per cent over the last year to March.
“This means stiffer competition, with more graduates chasing fewer roles today,” said the professional networking site in a report released on Thursday (May 8).
In addition, employers are expecting candidates to be even more qualified, further widening the talent gap in the labour market, LinkedIn found. In a separate survey which polled over 500 human resources (HR) professionals in Singapore, recruiters revealed that half or less than half of job applications met their requirements and preferred qualifications for roles over the past year.
The most prominent hiring roadblock was difficulty in finding candidates with the right soft skills for a role, with 50 per cent of respondents describing it as a top challenge, while 44 per cent indicated that candidates’ lack of technical skills for a role ranked among the largest obstacles.
Evolving global trends appeared to have shaped the nature of role requirements, with talent gaps for technical capabilities most frequently observed in artificial intelligence (AI), information technology, and environmental and sustainability skills.
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Additionally, 40 per cent of hiring professionals indicated that they observed an increase in the number of applications that were unsuitable for the role.
While attracting talent remains a challenge, retaining existing employees may prove critical for employers in the year ahead, with 69 per cent of employees revealing that internal career growth opportunities would make them more likely to stay. These include learning and development support, job rotations or transfers, as well as lateral mobility, LinkedIn said.
“This serves as a signal for HR and talent teams to adjust their strategies, placing a stronger emphasis on skills to better attract, hire and retain top talent within their organisations,” a spokesperson said.
HR teams have not taken this for granted, with the highest number of respondents describing upskilling and reskilling (33 per cent) as their largest focus over talent acquisition (22 per cent). As hiring slows in a period of economic strain, 78 per cent of respondents agreed that their businesses should continue to build talent pipelines.
For graduates, LinkedIn’s report recommended that jobseekers build soft skills such as communication and adaptability, on top of technical skills, as employer demands evolve. Feon Ang, managing director at LinkedIn Asia-Pacific, said: “Being able to reskill and upskill in response to change will be key for (the) future.”
“The ability to grow with a role, not just meet its requirements, is what employers are really looking for,” Ang said. “For instance, as AI becomes more integrated, companies are looking for people who keep up with new technology and still bring the human touch.”
In April, Manpower Minister Tan See Leng said that fresh graduates and mature workers may face employment struggles due to a global economic slowdown, as trade uncertainty continues.
Dr Tan co-leads one of three workstreams under the Singapore economic resilience task force, which focuses on identifying challenges faced by workers and businesses due to US President Donald Trump’s tariffs, and providing support. He said the workstream would explore measures to support the upcoming cohort of fresh graduates to “start their careers on a good footing”.
Globally, the job hunt has become tougher, with 50 per cent of jobseekers having difficulty finding work in the last year, says LinkedIn. Among Singaporeans, the figure was 61 per cent.
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