The pandemic has resulted in weaker labour market conditions across the globe. Amidst the economic downturn, mass layoffs have led to rising number of unemployment and plummeting number of jobs available in the market. Talents are urged to take initiative by learning new skills in order to stay in the workforce and boost their employability during global crisis.
According to the 2020 COVID-19 Labour Pulse Survey commissioned by Randstad Singapore, majority (86 percent) of employees surveyed are motivated to upskill and re-skill in the next 12 months. Of this number, more than half said that they are doing so to be prepared for how automation and digitisation will affect their future. Another 19 percent are looking to change their career or job industry, while the other 16 percent mentioned the fear of losing their job due to redundancy.
Employees are also harbouring greater expectations for their employers to help guide their career development. Specifically as to what type of skills to acquire and how to build their digital capabilities in the ‘new normal’. Employers should strive to meet the employees’ expectations and elevate the quality and readiness of their workforce.
The current pandemic has also changed talents’ expectations towards salary. New graduates and mid-career switchers looking to enter a new industry or start a career that is unrelated to their past accumulated work experience should also adjust their salary expectations. Even though they may be taking home a lower salary, they would be able to acquire new skills and gain experiences.
Once they have acquired the skills and experience through robust training programmes offered by their employers and when businesses regain their confidence, they can renegotiate the terms of their employment.