Employees are willing to do this to avoid unemployment

How will COVID-19 impact talent strategies in Singapore?

Employees are willing to do this to avoid unemployment

Majority (89%) of employees in Singapore are willing to go through retraining to secure their employment.

This sentiment is highest among mature workers, with almost all (93%) employees aged 55 and above sharing it.

This group of mid-career workers (85%) are also highly aware that employers will consider younger staffers better equipped in today’s age – especially with the accelerated state of automation.

The wave of digitalisation has started to reshape traditional businesses, requiring talent to be well versed in digital and technical skills. A recent study by Randstad confirmed that many employers recognise younger workers as ‘digital natives’ who have the potential to drive technological change and improve work efficiency.

Findings showed that almost four in five (79%) believe that younger workers are more employable due to the tech-savvy skills they possess.

READ MORE: Concerns of a multi-generational workforce revealed

“Younger workers are more energetic, creative and innovative,” said Jaya Dass, managing director, Malaysia and Singapore at Randstad. “Having grown up attuned with the latest technologies, the younger generations are naturally a highly attractive talent pool to organisations that want to stay at the forefront of digital technology and transformation.

“That said, all organisations must practise diversity and inclusivity. Companies that don’t practise fair employment practices will lose out on their ability to build a highly-skilled workforce that would benefit the business in the long-run.

“Employers need to hire a mix of workers from different ages and backgrounds, and invest in their individual professional development profiles. With varied experiences and viewpoints shared across different generations, a multi-generational workforce can result in the development of effective and innovative strategies that will drive business growth.”

Building effective talent strategies is especially crucial as the economy gradually reopens and companies work on their recovery amidst the COVID-19 crisis.

READ MORE: How will COVID-19 impact your talent strategy?

One way to improve HR strategies from talent management to engagement is through the effective use of data insights, said Nutan Singapuri, Senior Director Human Resources, Asia Pacific at LinkedIn.

“Think about HR models – what are the kinds of talent you’re looking for in the organisations and businesses you’re supporting?” said Singapuri. “How are you radically pushing and driving disruption in your conversations with business leaders about who you hire and your engagement strategy with the talent that you have?”

For talent sourcing, for example, she said that HR leaders also need to understand what talent is looking for in employers and when’s the most effective time to engage with them on various platforms.

Nutan Singapuri and other thought leaders will be sharing valuable insights on HR leadership and crisis recovery at the upcoming virtual HR Leaders Summit Asia. Click here to register now. Conference access is free for HR managers, directors and CHROs.

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