Staying Prepared in a Turbulent Environment
At the beginning of November 2019, some food delivery Personal Mobility Devices (PMD) riders received a rude shock. The government had banned the use of PMDs on footpaths. Some saw this coming, but it still made local headlines for days on end.
Food delivery companies immediately announced that it would stop working with PMD riders who zoomed down footpaths when delivering food. For PMD riders who relied on their speedy e-scooters to make a living, the ban indeed spelled terrible news. The reaction of the general public to this news was intense and widespread.
Food delivery drivers are not just the only workers who face unwelcome disruptions to their jobs. Around the world, including Singapore, workers are at risk of having their jobs made obsolete. Technological advancements, globalisation and other forces of disruption are now regular features in our economy. In time to come, food delivery riders may find themselves being replaced by self-driving cars. Uber announced in April 2019 that it had received US$1 billion in investment for its self-driving car unit, so driverless cars may start appearing on our roads in a few years.
Who knows - there may come a day when deliveries by self-driving cars controlled by robots may mean delivery labour will no longer be needed. Human waiters are already replaced by tablets or robots, while banks have already started using self-service kiosks at their branches to cut down on manpower. In the logistics industry, all delivery staff may be replaced by drones in the coming years.
On 6 November 2019, technology company Cisco and economic forecasting agency Oxford Economics found that Singapore would have to grapple with the most significant mismatch between skills and jobs created in South East Asia. The sobering study forecasted that about 20.6% of Singapore's workforce would have their jobs displaced by 2028 - that's only around eight years from now.
Whatever jobs we are in, job stability is now an unlikely luxury in the uncertain global environment. Change is the only constant with the global economy being in a precarious and unpredictable state. Whether it's a sudden change in laws or technology, our jobs may be impacted.
How can we best equip ourselves to deal with such disruption?
Learning as a way to adapt
One way to ensure that we stay employable is getting the training we need - always growing, innovating and developing our skills. We must not be afraid to try something completely new!
Some employees feel that they will only attend training if the company pays for it. However, this attitude of not wanting to bear the cost of training can only hurt ourselves in the long term. We must welcome every opportunity to invest in our learning and broaden our skillsets. We need to have the mindset that learning can be enjoyable and fun. Staying curious and adaptable make us way better employees and much more interesting individuals!
The Singapore government has spared no effort (nor money!) to ensure that the Singapore workforce has access to the training they need to stay employable amidst economic disruptions. For example, Workforce Singapore's (WSG) Professional Conversion Programmes (PCPs) places job-seekers in growth industries and targets to help mid-career workers hoping to make a job switch. Singaporeans can also benefit from training through SkillsFuture, where they get a $500 credit to encourage lifelong learning. The wide variety of courses ranges from learning Korean to launching e-commerce businesses. The government spends a whopping $1 billion a year on SkillsFuture initiatives! This includes credit schemes, study awards, and work-study programs.
We recently met a candidate in his mid-40's who was looking to switch careers by pursuing a Master's program. We were impressed with his tenacity and applauded him for courageously stepping out of his comfort zone. While the Master's program has not been a walk in the park for him, he persevered every step of the way. We would love to have someone like him on our team! As a firm, we value GRIT, as we genuinely believe that having grit can make a real difference between success and failure.
Apart from keeping our skillsets current, we need to take a longer-term view regarding our jobs. We should stay mindful as to how different sectors are evolving. This could involve looking beyond the local landscape to be better prepared to face changes. Reading broadly also helps us to stay abreast of industry development.
One thing's for sure - jobs will continue to come under threat in this unpredictable environment. By staying adaptable and investing in our development, we can remain relevant to the job market and still thrive in an environment that is always in flux.
Keep a lookout for our next article on the importance of developing self-awareness. The value of self-awareness can never be underestimated – it is a critical first step to being a better version of ourselves!
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