Singapore’s corporate leaders are raising red flags about workforce readiness as they prepare for long-term economic competitiveness. In a recent Workday study, many organisations report low confidence in their internal talent capabilities, citing skill shortages, slow adoption of skills-based hiring, and lack of workforce visibility. While AI presents a hopeful path forward, cultural and structural barriers still hinder rapid transformation. Companies embracing talent agility and new hiring strategies may secure a decisive competitive advantage.
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43% of Singapore business leaders are worried about not having the right talent to support future growth, underscoring an urgent national challenge in strategic workforce planning.
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Only 30% of organisations feel they currently have the skillsets needed for long-term business success, exposing a significant vulnerability in talent pipelines.
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Just 46% of companies say they have clear visibility into employee skills, which limits internal mobility and reduces the ability to deploy talent efficiently.
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Only 36% of organisations are currently hiring based on skills rather than credentials, while 24% are planning to do so—indicating a slow transition to modern recruitment models.
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Reskilling remains a bottleneck: 50% cite long lead times in training, while 49% report employee resistance to change as a key blocker to transformation.
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AI is emerging as a transformative lever, with 52% of leaders expecting it to eliminate repetitive tasks and create a more agile, scalable workforce.
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Successful transformation is not just about tools—companies also need culture change and stronger leadership alignment to adopt skills-first models effectively.
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Employers who prioritise hiring based on skills over degrees stand to gain better innovation capability, faster adaptability, and stronger retention in competitive industries.
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Embracing AI and skills-based hiring can strengthen productivity and GDP resilience in Singapore, helping position the nation as a high-skill talent hub.
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Modern hiring strategies reduce recruitment risks and unlock deeper talent access—accelerating job creation and future-proofing employment across Singapore’s key industries.
Source: DigitalCFO Asia, March 19, 2025
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