More than 3 out of 4 Business Leaders Willing to Reuse Staff to Address Talent Shortage


Compared to 78% in 2021 and 72% in 2020, the majority of business leaders (81%) believe that it is difficult to fill job posts because of a talent shortage with necessary skills.

More than three-quarters of business leaders (20% very likely, 58% somewhat likely) believe that internal transfers to different departments and/or job roles will be used to deploy their workers in order to overcome this talent shortage.

More than three-quarters (77%) of employees are willing to take on a new role within the company, with the main motivations being the chance to grow and develop without having to leave (63%) and the ability to acquire a variety of skill sets (52%). This indicates that employees are open to exploring new career paths. In fact, compared to 90% in 2021 and 71% in 2020, nearly nine out of ten employees (91%) want their employer to provide them with additional support to help them upgrade their abilities.

Several important conclusions can be drawn from the recently released Future Jobs and Skills Report 2023. A dual view on the present job market, in-demand jobs and skills, and Singapore’s training landscape is explored in this research, which is based on a poll of 650 working professionals that includes employees and business executives.

More than three-quarters of corporate executives (18% very likely, 55% somewhat likely) say their company plans to boost its training budget. Nonetheless, compared to employees (66%), business executives (84%) believe that their company has invested more in and given more priority to workforce skills development. In actuality, a higher percentage of workers (93%) express interest in attending training to enhance their skills than do company executives (78%).