As Singapore's job market evolves, your organisation faces a critical decision: Should you prioritise skills and experience over formal qualifications when hiring? This question has become increasingly pertinent as businesses adapt to rapid technological changes and a dynamic economic landscape. With a growing emphasis on practical expertise and industry-specific knowledge, many recruiters are re-evaluating traditional hiring criteria. This shift in perspective could have far-reaching implications for your talent acquisition strategies and overall business performance. In this article, we'll explore the changing attitudes towards qualifications in Singapore's recruitment landscape and provide insights to help you make informed decisions for your company's hiring practices.

Degree or Skills? Hiring Priorities for Singapore Recruiters

In recent years, Singapore has witnessed a significant shift in hiring practices, with recruiters increasingly prioritising skills over degrees. This trend reflects a growing recognition of the value of practical abilities in today's rapidly evolving job market.

The Changing Landscape of Recruitment

According to recent data, a remarkable 28% of job listings in Singapore have phased out specific educational requirements in favour of skills-based hiring. This shift is not just a passing trend; it represents a fundamental change in how employers evaluate potential candidates.

Furthermore, 62% of professionals in Singapore believe that a degree is less important in landing a job today compared to two decades ago. This perception aligns with the growing emphasis on practical skills and adaptability in the workplace.

Skills Versus Degrees: What Employers Value

When it comes to skills versus degrees, employers in Singapore are increasingly focusing on key competencies that drive business success. Research indicates that recruiters prioritise hiring based on:

• Communication skills

• Problem-solving abilities

• Strategic thinking

These skills are often seen as more indicative of a candidate's potential to contribute effectively to an organisation than traditional academic qualifications alone.

By adopting this skills-first approach, Singapore's recruiters are tapping into a broader talent pool and building more adaptable, inclusive workforces ready to face future challenges.

The Rising Importance of Skills in Today's Singapore Job Market

Singapore's labour market is undergoing a significant transformation, with a growing emphasis on skills versus degree qualifications. This shift reflects the nation's commitment to sustainable economic growth through a skills-based workforce.

In-demand skills for 2025

According to recent projections, the most sought-after skills in Singapore by 2025 will include healthcare, artificial intelligence, data science, and cybersecurity. These areas are crucial for the city-state's continued technological advancement and economic competitiveness.

Critical core skills across industries

Whilst technical expertise is vital, certain core skills remain consistently important across all jobs and industries in Singapore. These include:

• Adaptability and resilience

• Critical thinking and problem-solving

• Effective communication

• Digital literacy

Embracing a skills-first approach

Employers in Singapore are increasingly recognising the value of skills over traditional credentials. This shift towards a skills-versus-degree mindset is reshaping hiring practices and career development strategies. By focusing on practical abilities and potential, companies can build a more agile and competitive workforce.

To prepare for this evolving landscape, both employers and job seekers should prioritise continuous learning and upskilling. Initiatives like SkillsFuture provide valuable opportunities for Singaporeans to enhance their skills and remain relevant in an ever-changing job market.

Skills-Based Hiring: The Uptrend in Singapore

A Shifting Landscape

In recent years, Singapore has witnessed a significant shift towards skills versus degree prioritisation in hiring practices. This trend has gained momentum, with a 12% increase in skills-based hiring adoption over the past year. Employers are increasingly recognising the value of practical abilities over formal qualifications, leading to a more diverse and capable workforce.

Tech Sector Leading the Charge

The technology sector has been at the forefront of this transformation. Tech roles in Singapore have seen a notable rise from 4.5% to 5.3% in total employment, underscoring the growing demand for skilled professionals in this field. This surge reflects the rapid pace of digital transformation and the need for workers with specialised technical expertise.

Embracing a New Approach

Employers across various industries in Singapore are increasingly shifting towards a skills-based hiring approach. This strategy allows companies to tap into a wider talent pool, potentially increasing it by 10 times. By focusing on practical abilities and potential rather than traditional credentials, organisations can build more diverse and adaptable teams that are better equipped to drive business success in an ever-evolving economic landscape.

The Perfect Balance: Degrees and Skills for Career Success in Singapore

The Value of Higher Education

In Singapore's competitive job market, higher education continues to play a significant role. According to recent data, the median monthly salary for degree holders in Singapore is 62% higher than for those with diploma or A-level qualifications. This substantial difference highlights the enduring value of a university education in terms of earning potential.

The Rising Importance of Skills

However, the landscape is shifting. A study reveals that 73% of professionals in Singapore prioritize building up skills over degrees for career advancement. This trend reflects a growing recognition of the importance of practical abilities in a rapidly evolving job market.

Recruiters' Changing Priorities

Interestingly, recruiters in Singapore are increasingly hiring for skills over higher education degrees. This shift emphasises diversity and inclusion efforts, recognising that talent can come from various backgrounds. As reported, the Singapore government has been launching national skills frameworks since 2016 to guide employers towards a skills-based hiring approach, viewing these as a "common language" for evaluating skills and democratising access to career information.

In the skills versus degree debate, the ideal approach appears to be a balance of both. While degrees provide a solid foundation, continuous skill development is crucial for long-term career success in Singapore's dynamic job market.

How to Supplement Your Degree with the Right Skills in Singapore

In today's competitive job market, the debate of skills versus degrees continues to evolve. While a degree provides a solid foundation, supplementing it with practical skills can significantly enhance your employability. Here's how you can acquire the right skills to complement your qualifications in Singapore.

Leverage SkillsFuture Initiatives

The SkillsFuture programme offers excellent opportunities for Singaporeans to upskill throughout their careers. The SkillsFuture Level-Up Programme provides support for mid-career Singaporeans aged 40 and above to acquire new skills, ensuring they remain competitive in the job market. Additionally, the SkillsFuture Work-Study Degree helps students transition seamlessly to the workplace by combining academic learning with on-the-job training.

Tap into Credits and Subsidies

Mid-career workers aged 40 and above in Singapore can take advantage of credits and subsidies for upskilling. These financial incentives make it easier to pursue courses and certifications that complement your degree, allowing you to develop a more diverse skill set.

Focus on High-Income Skills

To truly stand out, consider acquiring high-income skills that are in demand. According to industry experts, skills such as data science, machine learning, and digital marketing are highly valued in Singapore's job market. By mastering these skills, you can significantly boost your earning potential and career prospects.

Skills Versus Degree: Frequently Asked Questions

The Shift Towards Skills-Based Hiring

In recent years, Singapore has witnessed a significant shift in hiring practices, with a growing emphasis on skills over traditional qualifications. According to recent data, 67% of Singapore employers now embrace skills-first hiring, recognising the value of practical abilities over academic credentials. This trend reflects a broader understanding that skills versus degree considerations can lead to more effective recruitment outcomes.

The Declining Importance of Degrees

The landscape of job requirements in Singapore is evolving rapidly. Remarkably, 80% of roles in Singapore no longer require degrees, signalling a significant shift in employer priorities. This change acknowledges that many essential workplace skills are not necessarily taught in traditional academic settings but are often developed through practical experience and targeted training.

Recruiters' Changing Search Strategies

As the focus shifts towards skills-based hiring, recruiters are adapting their search methodologies. Studies indicate that recruiters are now 50% more likely to search for candidates by skills rather than by alma mater. This approach allows for a more diverse and potentially more qualified candidate pool, as it focuses on an individual's actual capabilities rather than their educational background.

Conclusion

As Singapore's job market evolves, recruiters must adapt their hiring practices to prioritise skills and experience over traditional qualifications. By focusing on competencies and practical knowledge, your organisation can tap into a wider talent pool and secure candidates who are truly prepared for the demands of modern roles. Whilst degrees remain valuable, they should not be the sole determining factor. To stay competitive in Singapore's dynamic business landscape, consider implementing skills-based assessments and looking beyond academic credentials. By embracing this shift, you'll be better positioned to build a workforce that can drive innovation and meet the challenges of an ever-changing economy.