Singapore Workforce in Spotlight

Fewer vacancies, tougher hiring, reskilling resistance: The workforce challenge

CEOs are prioritising controlling costs, reviewing projects and capital expenditures, and optimising working capital while maintaining with strategic investments. These measures enhance financial resilience and operational agility, especially in the context of global mass layoffs experienced in 2023 and 2024.

In light of these workforce changes, individuals are expected to perpetually be career-ready. Simultaneously, organisations need to foster organisational readiness and be talent-ready to harness the full potential of the current workforce.

Deloitte’s Singapore Workforce Transformation team has identified critical trends impacting people and organisations in Singapore:

  • The Talent Paradox | Despite a talent surplus from layoffs, job vacancies are declining.
  • The Matchmaking Paradox | Despite a talent surplus, organisations are struggling to hire skilled professionals
  • The Skill Paradox | Despite significant investments in reskilling by the government and organisations, many Singaporeans are not actively engaging in reskilling programs

Amid the evolving economic landscape, Singapore is concentrating on building a future-ready workforce with robust core and technical capabilities to achieve the 2030 vision. In today's rapidly changing business environment, understanding workforce trends is more crucial than ever.

To delve deeper into workforce trends across various industries in Singapore, download "The Impact of Workforce Trends" report.

Our primary goal is to drive real business impact. Through a combination of a presentation and insightful discussions, we aim to engage with you on the current effects of layoffs and initiate a dialogue on managing them effectively—for both those laid off and the workforce remaining —to achieve enhanced organisational efficiency.

Contact us to learn more about how Deloitte’s Human Capital can assist you.

The Impact of Workforce Trends

Get in touch

Indranil Roy
Workforce Transformation Leader, Technology & Transformation, Deloitte Southeast Asia

Miri Stephanie Takakura
Director, Human Capital, Technology & Transformation
Claire Ng Huiting
Manager, Human Capital, Technology & Transformation
  Sakshi Soni
Senior Consultant, Human Capital, Technology & Transformation