Job Outlook Report 2019

Transcription

1 Job Outlook Report 2019

2 Key Highlights of the Report

3 The war for talent will intensify with the shift to a digital economy and Industry Revolution % of employers perceived that the talent landscape will change and the main reason cited for this is There is a high demand for digital skills, but limited supply of talent with these skills in the market. Q: How much do you think the dawn of the Digital Economy/Industry Revolution 4.0 will impact the talent landscape in the next three years? Q: In your opinion, why do you think the talent landscape will be impacted?

4 Digital and automation technologies spur the creation of more jobs, and talent should seize these opportunities 60% of employers surveyed have implemented some form of digital or automation technologies. 43% Increase in headcount 39% No change in headcount 18% Decrease in headcount Q: Has your organisation implemented any form of workforce automation or digital technologies in the recent years? Q: Has this led to any increase or decrease in headcount in your organisation?

5 Employers are looking to hire new talent externally for the skills that businesses need today 29% of employers surveyed will hire new employees externally because: External talent may be able to provide a fresh outlook on the industry The skillset is acquired through extensive work experience Higher chances of finding the right person for the job Q: Does your organisation prefer to upskill existing employees or hire new employees externally, for the skills needed? Q: What are your reasons for preferring to upskill existing employees (instead of hiring externally) for the skillsets needed?

6 However, employers are also willing to invest and retrain employees for skills needed by the business 71% of employers surveyed will retrain and up-skill existing employees because: Existing employees have a good understanding of the business It promotes the growth of the employee It saves time and money on the recruiting process Q: Does your organisation prefer to upskill existing employees or hire new employees externally, for the skills needed? Q: What are your reasons for preferring to upskill existing employees (instead of hiring externally) for the skillsets needed?

7 Employers are investing to attract and retain the talent they need to succeed Top 3 employer initiatives today are Increase on-the-job training opportunities for new skillsets Provide formal training & development programs to retrain and up-skill Investing in digital technology & processes Q: What is your organisation doing to attract and retain talent to succeed in the Digital Economy/Industry Revolution 4.0?

8 Core work-related skills: Top 5 digital skills sought after by employers Top 5 digital skills sought after by employers Digital marketing Software and application development E-commerce Big Data & Analytics Database Slight gap in key skills demanded in the market areas for development among talent. Q: What are the top five core work-related skills that you look for in candidates for your organisation in order to succeed in the Digital Economy? Q: We would like to find out more about your skillset. Please select the skills that you currently posses.

9 Employers are also looking for soft skills in addition to hard skills Top 5 traits valued by employers that increases a candidate s employability Problem solving skills Communication skills The ability to work independently Teachability/ Willingness to learn The ability to work under pressure Q: What are the top three traits you look for in candidates for your organisation?

10 What are the job market sentiments in 2019? 10

11 Peak hiring season in H % 90% 80% 70% 60% Concentrated hiring activity in the first half of the year 90% 76% 61% 50% 40% 40% 30% 20% 10% 0% Jan - Mar Apr - Jun Jul - Sep Oct - Dec Q: In which months do you foresee your organisation doing the most recruitment?

12 Employers will have the opportunity to source from a sizeable talent pool of active and passive candidates I have no plans of leaving my current job/employer in the coming year 9% I will not actively apply, but will be open to opportunities that are presented to me (e.g referrals, headhunter etc.) 23% Opportunity to proactively source from a passive talent pool i.e search and pitch to talent I will actively monitor and scan the job market I will actively apply to new job opportunities 26% 42% 68% Large and active talent pool Q: What would best describe your job hunting behaviour in 2019? 0% 10% 20% 30% 40% 50%

13 Summary of the Job Outlook 2019 More and more companies are adopting digital transformation and the talent landscape will change due to the high demand for digital skills but limited supply. The war for Talent will become more intense. Companies will need to focus and come up with their own Unique Value Proposition (UVP) and communicate effectively to attract and retain the right talents. While employers are actively engaging to retrain and upskill existing employees, they should also look at adopting new digital tools and technologies.