39% of companies in Singapore prefer those with specific technical skills over traditional qualifiers with broader abilities and experience.
Skills will continue to pave the way for economic recovery and growth, and will eventually become the new currency for employees in the future world of work, according to a report by professional network LinkedIn.
The report found that more companies in Singapore prefer to hire candidates with technical skills (39%) and transferable skills (31%) over traditional qualifiers like years of experience (12%) and education (8%). Three in five companies are open to hiring employees from another industry if the skills they possess match the job requirements.
Moreover, companies are becoming more open to tapping on talent within the organisation to fill open roles. Nearly nine in 10 companies in Singapore are willing to hire internally as they can leverage on the employees’ insider perspective (65%), providing a sense of progress (65%), and encouraging loyalty (55%).
The companies, however, should provide training programmes to aid in learning the relevant skills.
According to Feon Ang, LinkedIn vice president, talent and learning solutions in APAC, hiring talent with the right skill set is “very important” to organisations, and these days, it matters less that the talent has the traditional qualifications or industry experience.”
“Going forward, we can expect to see a skills-based economy take shape, with skills becoming the new currency for workers in the future world of work. I encourage all individuals to adopt a growth mindset, and keep learning to stay relevant,” Ang said.
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