Business leaders keen on new talent to adapt to new technologies: survey
Nearly nine in 10 business leaders in Singapore still recognise the importance of human interactions in the wake of recent technological advancements that are taking over workplaces, according to a new survey.
HSBC's survey among 2,900 business leaders across eight markets found that 89% still view human interaction as an important element in a banking relationship. According to the respondents, in-person support is also important on:
- Identifying new business opportunities (35%)
- Seeking out tailored financial advice (34%)
- Growing their business overseas (33%)
- Identifying and mitigating potential business risks (33%)
"The survey findings show that while Singapore businesses are adapting to the changes brought about by the acceleration of digital adoption, they continue to value the human touch in driving sustainable business growth," said Priya Kini, Head of Commercial Banking, HSBC Singapore, in a statement.
The findings come amid widespread adoption of hybrid work arrangements to accommodate employees' demands for flexibility, resulting to the reduction of in-person contact as permanent on-site work becomes second choice for workplaces.
Training employees on tech
But acknowledging the significance of human interactions doesn't mean less focus on the adoption of new technologies, the report finds.
In fact, 83% of business leaders in Singapore said they are looking at how emerging technologies can help advance employee skillsets.
Another 82% said they plan on re-training their workforce, while 81% said they plan to invest in new talent in response to the fast development of technology.
"It's critical for businesses to start thinking about how to embed tech adoption and digitalisation through training and upskilling of their employees and adapting their business strategies to a more digitally enabled environment," Kini said.
These findings come as majority (89%) of business leaders said they are confident in their ability to keep pace and introduce new technologies in the next decade.
According to the respondents, their intent to implement new technology at work is driven by factors such as:
- Increasing revenue (29%)
- Streamlining process and improve efficiency (29%)
- Reducing costs (28%)
- Keeping the company's technology up to date (26%)
- Improving customer service and experience (24%)
