Deloitte Chairman’s Club roundtable on the future of work and education
Singapore, 14 July 2017 — Deloitte Singapore convened a closed-door dialogue yesterday on the topic “The future of work and education” for Singapore.
Graced by Minister for Education (Higher Education and Skills) Mr Ong Ye Kung, the roundtable session brought together 14 chairmen, senior directors and chief executives from the government, private sectors and academia.
The focus of the roundtable was to discuss the challenges and opportunities on two key themes impacting Singapore – fulfilling career aspirations through lifelong learning and higher education in the 4th Industrial Revolution.
“The business landscape is becoming extremely unpredictable, and at Deloitte we believe, more than ever, that partnerships and collaborations are critical for mutual success,” said Philip Yuen, CEO, Deloitte Southeast Asia and Singapore. “We need to learn from one another, and share the opportunities and challenges we encounter in order for us to be equipped and prepared, to secure a bright future.”
The following were the main conclusions from the roundtable dialogue:
Fulfilling career aspirations through lifelong learning
- Lifelong learning while not yet the norm, is taking off. Many businesses are struggling to adapt to these challenges, although high-performing companies are seizing the opportunity to promote a new culture of learning, and transforming how employees learn.
- This means revisiting education, career models, and approaches to life-long learning and work, and innovating public-private partnerships.
- There is no doubt that education and skills development will be even more critical to enabling economic growth. Underpinning this will be the need for new learning models and reimagined institutions, many of which are catching up with technology. Public policy and supportive institutions have a new role to play.
- Skills development is an economic imperative, and creating the right policy mix to facilitate needed development and learning is not going to be easy.
Higher education in the 4th Industrial Revolution
- Singapore’s workforce needs a skills development infrastructure; one that broadens the base of skills and abilities, focusing especially on cognitive and social skills and enables a process of continually deepening knowledge.
- This also means increasing professional development to enhance the quality of teaching, improving technological infrastructure so that education platforms can be made available to all, and having technologically-enabled classrooms.
- In markets where there has been such a focus on science, technology, engineering and mathematics (STEM) skills development, it is easy to lose sight of the importance of other cognitive skills such as complex problem solving, reasoning, comprehension, and social, and therefore overlook providing quality education in this area, which incidentally, are skills not yet easily replicated by machines.
The Chairman’s Club Roundtable is one of the initiatives led by the Deloitte Singapore Centre for Corporate Governance, which provides platforms for senior level networking and to explore business issues and opportunities. This Chairman’s Club is one of the initiatives that Deloitte Singapore has embarked on to celebrate its 50th Anniversary this year.
About The Deloitte Chairman’s Club
The Chairman’s Club provides the focal point for senior level networking and is a platform to explore business issues and opportunities. Having steered their businesses through economic peaks and troughs, the diverse business experience and insights of the members are invaluable, and the combined weight of the business skills and acumen can yield powerful insights. Through the interaction, members of the Chairman’s Club share best practices and learn from each other, thus accelerating change to move their company ahead and gain a competitive edge.
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About Deloitte Southeast Asia
Deloitte Southeast Asia Ltd – a member firm of Deloitte Touche Tohmatsu Limited comprising Deloitte practices operating in Brunei, Cambodia, Guam, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam – was established to deliver measurable value to the particular demands of increasingly intra-regional and fast growing companies and enterprises.
Comprising 290 partners and over 7,400 professionals in 25 office locations, the subsidiaries and affiliates of Deloitte Southeast Asia Ltd combine their technical expertise and deep industry knowledge to deliver consistent high quality services to companies in the region.
All services are provided through the individual country practices, their subsidiaries and affiliates which are separate and independent legal entities.