An independent survey of Singaporean CIOs by specialised recruiter Robert Half has shown most IT employers expect positive results from the government’s new TechSkills Accelerator (TeSA). The CIOs are already planning to utilise TeSA, a SkillsFuture initiative which aims to help companies stay competitive by upskilling and reskilling existing ICT professionals, while supporting non-ICT professionals to acquire new sought-after skills and domain knowledge.
According to Robert Half, IT employers are set to benefit as many CIOs think TeSA will have a positive impact on the local employment market. Six in 10 (60 per cent) say TeSA will enhance skillsets among IT professionals in Singapore, while 53 per cent believe it will create more competition among IT candidates for high-level roles – which is a good indication for Singaporean companies struggling to source high-calibre candidates.
The initiative is a positive step forward for IT candidates as more than four in 10 (41 per cent) CIOs respectively predict TeSA will increase average salaries for skilled IT talent and increase competition among employers battling to secure the right candidate.
Over a third (36 per cent) believe it will decrease the IT skills shortage, while only 3 per cent of CIOs do not think TeSA will impact the IT employment market. With the skills shortage continuing to grow, companies are indeed coming under increasing pressure to take proactive steps towards upskilling and training staff. On a positive note, almost two-thirds (63 per cent) of CIOs are already planning to use TeSA over the next 12 months to improve the skill level of their existing staff. Indeed, more than 27,000 training places have been taken up or committed since TeSA was launched in 2016.
The top five IT skills CIOs are looking to develop are IT security (53 per cent), data analytics (37 per cent), business analysis (32 per cent), business intelligence (32 per cent) and IT management (25 per cent).
“In this fast-moving, tech-driven landscape, it is essential for companies to develop their IT capabilities to stay competitive,” said Matthieu Imbert-Bouchard, managing director of Robert Half Singapore. “The Singaporean government has taken a positive step forward by creating initiatives that support companies. The TechSkills Accelerator is a perfect example as it aims at upskilling local IT talent, driving productivity and ultimately, the Singaporean economy.
“There is a huge appetite among business leaders for upskilling their staff to meet the demands of new and evolving technology – no doubt driven by the challenges of securing talented IT professionals in today’s skills-short marketplace,” Imbert-Bouchard adds. “New technologies are emerging every day, highlighting the need for new skills to manage them. This in turn underlines the importance of ongoing professional development for all IT professionals.”
Robert Half believes the TechSkills Accelerator is not just an efficient government measure to help IT staff keep up with technological change but will play an important part in enabling all IT workers to stay up to date. As new and exciting career opportunities continue to emerge, upskilling and professional development opportunities will also become an increasingly important tool for IT employers to attract, retain and incentivise the most talented staff as we move into the future.