In an ever-evolving job market, staying ahead of the curve is crucial for individuals and enterprises alike. So, if you’re looking to keep abreast of job market trends, the big question is: What are the in-demand skills for this year?
Enter the Skills Demand for the Future Economy 2023/24 report, conducted by SkillsFuture Singapore (SSG). The report provides valuable insights into the in-demand skills that will shape Singapore’s job landscape in 2024.
If futureproofing your career ranks high on your agenda this year, Workipedia by MyCareersFuture brings you the lowdown of the hottest skills to add to your skillset to help you achieve your goal.
What’s in store for 2024?
During a recent speech at the Economic Society of Singapore Annual Dinner, Deputy Prime Minister (DPM) Lawrence Wong, also Minister for Finance, shared how the Singapore government will help our workers adjust to changing job market trends and disruptions.
One of the key highlights of his speech was an introduction to the expanded SkillsFuture system, which provides “appropriately sized” benefits, funded by the government, for retrenched workers to help them over the initial period of unemployment.
The Skills Demand for the Future Economy 2023/2024 report highlights an expected rise in demand for skills in the digital and care sectors over the next two years.
These skills encompass a range of areas, including effective client communication in the care economy sector and qualitative analysis and software design in the digital economy sector. It is worth noting that these skills are highly transferable across various sectors and job roles.
The forecast also emphasises the importance of Industry 4.0 skills, which utilises automation and smart solutions to enhance manufacturing processes. Skills like process engineering design and technical writing, which involve communicating complex information, are expected to see an increased demand in the next two years.
What are the key in-demand skills?
The Skills Demand for the Future Economy report has identified 24 key job skills that are projected to experience growth in demand. All of the skills reside in the Digital and Care Economies, and Industry 4.0, among others. This prediction is based on the use of prediction modelling techniques to anticipate future demand.
No prominent skills from the Green Economy came through this analysis, as green trends are reasonably recent, with many skills being nascent and only starting to emerge.
Health technology continues to be a key enabler in expanding care services. As the Care Economy transforms, care professionals will embrace new work practices, augment their work with technologies, and maintain their learning agility to acquire new skills.
- Continuous improvement management
- Practice supervision
- Effective client communication
- Staff continuous learning
- Ethical and professional integrity
- Staff communication and engagement
Industry 4.0 and others
Singapore is positioning itself as a leading hub for Industry 4.0, embracing technological advancements and innovation to drive economic growth. With a focus on research and development, Singapore is investing over S$25 billion in R&D over the next five years.
- Process engineering design
- Material management
- Technical writing
- Workplace safety and health management
- Equipment and systems testing
- Process development management
- Quality systems
The Digital Economy, which includes the Infocomm Technology (ICT) sector and digitalisation efforts in other industries, accounted for 17% of Singapore’s GDP in 2022. This is expected to reach around US$30 billion in 2025.
- Programming and coding
- System configuration management
- Business requirements mapping
- Qualitative analysis
- Software testing
- Embedded systems programming
- Information collection
- Sales channel management
- Product development
- Market research
- Software design
Where can you get help for upskilling?
If you’re thinking of upskilling yourself to enhance your career or to make a mid-career switch but unsure of where to start, fret not. Workforce Singapore has an array of platforms specially designed to help you meet your career goals.
If you’re looking to improve your career health, this MyCareersFuture feature is designed to help you better plan your upskilling and career journey through personalised jobs and skills recommendations.
Think it’s time for some career planning? Polaris is your go-to programme tailored exclusively for you and designed to match your unique aspirations and ambitions. Sign up today!
Need help in kickstarting your job search journey? Career GRIT equips you with the essential tools for an effective job search and prepares you for different employment scenarios. Explore now!