The recent SkillsFuture Forum highlighted the pressing need for companies to adapt to the digital landscape while focusing on the human aspect of this transformation. Panelists emphasized that organizations must actively manage change and cultivate an innovative culture that helps older employees merge their extensive experience with new technological skills.

Tan Kok Yam, Chief Executive of SkillsFuture Singapore, noted the “democratisation of technology” in 2023. Technologies like cloud services have become accessible to both small and medium-sized enterprises (SMEs) and individuals. Companies are now exploring how to integrate these tools to improve customer engagement and operational efficiency.

Aslam Sardar, CEO of the Institute for Human Resource Professionals, stressed the importance of continuous learning. He advocated for a shift from traditional, lengthy courses to micro-learning, leveraging readily available resources like online videos and articles. He also shared innovative approaches such as “learning circles,” where teams collaboratively learn from adopted books, fostering engagement without significant costs.

The discussion revealed a critical need for a multidisciplinary approach in addressing complex global issues, such as climate change. Aslam pointed out that solving such challenges requires knowledge from various fields, promoting the importance of cross-functional collaboration.

Lee Hui Li, Managing Director of Microsoft Singapore, introduced the “four Bs” of talent development: buy (recruiting new talent), build (reskilling existing employees), borrow (collaborating with external partners), and bot (automating processes). This holistic view of workforce development highlights the value of both human and technological resources.

The panelists also discussed the significance of the Environmental, Social, and Governance (ESG) conversation, particularly as the workforce ages. Leveraging the experience of older employees and integrating new skills can lead to innovative approaches in various sectors, including customer service.

Lee Kian Chong, CEO of Deli in the Park, emphasized the role of informal learning and on-the-job training, noting how certifications from in-house training can free up time for employee development. He stressed that investing in reskilling existing workers is often more cost-effective than recruiting new talent, as companies can leverage their understanding of current employees’ skills.

Aslam concluded by underlining the importance of HR in facilitating business transformation through job redesign and change management. He urged businesses to recognize that technology alone is not the solution; it is essential to engage employees in this journey to ensure a successful transition.

In this fast-evolving landscape, the focus on continuous skill development and fostering an innovative culture is paramount for companies to remain competitive and relevant in the global market.