Digitalisation is often seen as a threat to the labour market, as many employees are concerned that automation may result in redundancy.
According to Randstad's recent report, 85% of respondents across Southeast Asia think that digitalisation requires a different skill set than what they currently possess. In Malaysia, the number stood at 89%, while it was 80% in Singapore.
The Randstad Workmonitor surveyed over 400 employees and job seekers in each market, such as Singapore, Malaysia, China, Hong Kong and others. Apart from thinking that current skills would not make the cut with digitalisation, 61% of respondents also felt pressured to develop their skills to keep up with the digital developments. This amounts to 63% in Malaysia and 57% in Singapore.
However, the survey also highlighted that close to nine in 10 (89%) Malaysia-based workforce are positive that digital technology presents them with new opportunities. This was much higher than the Southeast Asia results that was 83%, while in Singapore it was 80%. According to the report, employees and job seekers are aware of the necessity to upskill, to take advantage of the digital opportunities that come with technological advancements and new innovations.
Out of which, 89% in Singapore are learning about Artificial Intelligence to ensure their employability, while it increases to 93% in Malaysia who are willing to acquire these skills to guarantee their employability. Across all the markets, respondents were highly aware of ensuring employability.
According to the Randstad Workmonitor survey, 69% of the respondents said that their employer is investing in new technologies within the field of AI such as machine learning, robotics and automation. More than eight in 10 respondents agreed that these emerging technologies will have a positive impact on their job in the next five to 10 years.
Meanwhile 82% of the respondents in Southeast Asia think that their employers should provide them with adequate training to acquire new digital skills and increase productivity, while only 63% said that their employers are doing so. Currently, in Malaysia, 80% of survey respondents said that students are being taught and exposed to the right digital skills that will help prepare them for the future workforce.