Unlocking talent amongst Singapore start-ups
What we’re seeing
The fight for talent is a global issue, but SMEs often find themselves at the end of the pecking order. There are several developments in Singapore that can tilt the scales further in smaller firms’ favour.
The key stat
ManpowerGroup's Talent Shortage Survey 2024 highlights that 79% of employers in Singapore are struggling to fill key roles.
Developments emerging to help SMEs secure talent
This reinforces the need for SMEs to take every opportunity the government is offering in upskilling and business development programs – of which there are a few:
- From early 2025, Singaporeans can apply for a new SkillsFuture Mid-Career Training Allowance when they take up selected full-time, long-form programmes.
- Enterprise Singapore’s Partners for Business Growth has been extended to May 2025 to support selected SMEs with support on business diagnosis, transformation plans, and growth road maps.
The call to action for SMEs
- To address the talent shortage, SMEs should prioritise upskilling their existing workforce, especially in high-demand areas like AI, cybersecurity, and fintech.
- Take advantage of government-subsidised training programs and job transformation maps introduced in Singapore’s Budget 2024 to equip employees with the necessary skills to meet future challenges.
This is a five-part series looking at the opportunities for businesses across the Australia – Southeast Asia corridor. The insights are powered by Via Group: a communications agency focused on supporting international businesses with their cross-border communications needs across Asia. You can check them out at wearevia.com
See other stories in this series
• How Singapore based SMEs can future proof against supply chain shakeups
• Australia and Singapore to help bolster SMEs ESG credentials
• Moves afoot to give Singapore based fintechs a safe landing in Australia
• Renewing strategic vows: Australia and Singapore eye AI and digital transformation in 2025