Singapore firms urged to invest in local talent

Investing in local talent and equipping them with skills relevant to a changing economy will help workers thrive and address the tech skills shortage.
By: | February 26, 2021
Topics: Employee Experience | Health and Wellness | Learning and Development | News | Professional Development | Singapore | Talent Management

Businesses should invest in local talent and graduates to help build the expertise needed to maintain Singapore’s long-term competitiveness, said MPs as part of the Budget 2021 debate. 

Investing in Singaporeans and in the skills crucial in a changing economy will be key to helping workers thrive, they said, according to The Straits Times. 

“I believe there is opportunity for more collaboration within and across sectors to uplift the labour ecosystem, as having a larger pool of skilled labour would benefit businesses in the long run,” said Nominated MP Janet Ang, who is also a council member of the Singapore Business Federation. This would also help address the tech talent shortage, she added.

Firms should invest in Singapore workers and allow them opportunities to flourish, Ang said. “Skills transfer and knowledge transfer, as well as leadership development, are some of the key values in successful partnerships between MNCs and Singapore,” she noted.

READ: Singapore mulls progressive wage model for retail sector

Beyond government grants and support like the SGUnited Traineeship Programme that helps boost employability of fresh graduates, the whole work ecosystem needs to step up to strengthen Singapore’s capabilities, said Jessica Tan of East Coast GRC.

“We need to identify the capabilities required and build the depth of expertise and knowledge for long-term resilience and competitiveness. These capabilities include technical, functional and leadership skills,” Tan added.