SINGAPORE – Tech Job Demand Surges Despite Layoffs

In a surprising twist amid widespread layoffs in the tech industry, the demand for tech roles in artificial intelligence (AI), machine learning engineering, cloud architecture, cybersecurity analysis, and software development is soaring. As more businesses, even outside the tech sector, ramp up their digitalization efforts, the need for qualified tech talent has never been greater.

Currently, approximately 100 companies, including giants like Huawei, Accenture, and Amazon Web Services (AWS), are collectively seeking to fill more than 1,000 tech positions. This indicates a robust ongoing demand for technology professionals, even as many prominent tech companies worldwide have been shedding jobs left and right.

“While recent layoffs have understandably raised concerns among graduates and tech professionals, the overall outlook for the tech sector remains positive,” stated Tan Kiat How, Senior Minister of State for Digital Development and Information. Speaking at the inaugural Tech Skill-Up Festival, held at Marina Bay Sands, he emphasized that digital workforce skills are essential for driving economic growth in Singapore.

Tech Skill-Up Festival: A Vital Job Fair

Jointly organized by the Infocomm Media Development Authority (IMDA), trade association SGTech, and the NTUC’s Employment and Employability Institute, the festival serves as a vital job fair for graduates from the Institute of Technical Education (ITE) and polytechnics, as well as mid-career professionals looking to switch fields. The event is not just limited to in-person sessions; it is also being hosted virtually until May 11, allowing a wider audience to explore job vacancies.

Despite news of job cuts, including TikTok's reduction of its Singapore workforce by a dozen positions earlier in 2024 and Meta's announcement of layoffs affecting about 3,600 employees globally, the tech job market is still evolving. Mr. Tan noted that tech jobs have increased their share of total employment in Singapore from 4.5% in 2019 to a projected 5.3% in 2024, a promising sign for job seekers.

Expanded Opportunities in Non-Tech Sectors

Non-tech companies in sectors like healthcare and manufacturing are also on the lookout for tech talent, representing about 58% of all job openings in the tech industry. Mr. Tan called upon employers to focus on candidates’ practical skills over formal qualifications, addressing the existing talent gap and promoting a more inclusive hiring process.

The TechSkills Accelerator program, initiated in 2022, has significantly contributed to bridging this gap, helping graduates secure over 1,000 tech-related jobs. Additionally, over 300 firms, including top names like Accenture and DBS, have strategically onboarded more than 1,300 students for long-term internships to enhance hands-on experience.

Success Stories & Skills-Focused Hiring

For example, UOB consistently recruits over 50 fresh graduates annually through its U Unleash Programme, offering a 12-month internship that not only builds practical skills but also provides a pathway to potential full-time employment.

One success story is 24-year-old UOB software engineer Amirul Helmy, who attributes his job offer to the way he showcased relevant projects and certifications during interviews. “Highlighting specialized electives and practical work experience made a significant difference in my job search,” he noted.

Industry leaders emphasize that this skills-focused approach fosters a better match between employers and employees. Kyndryl's regional head, Aman Tej Singh, echoed this sentiment, revealing that companies are increasingly valuing practical skills showcased in assessments over traditional educational backgrounds.

Empowering Women in Tech

In a collaborative effort to cultivate tech talent, IMDA recently announced the 'Code; Without Barriers' program with Microsoft. This initiative aims to empower 10,000 women through training and job opportunities in cloud computing and AI, drawn from partnering organizations like CapitaLand and Bank of Singapore.

Growth Through Skill Development

One remarkable example of growth through skill development is 24-year-old cyber threat hunting specialist Zarine Blossom Wong, who advanced quickly within Ensign Infosecurity after starting as a security operations analyst post-graduation in 2021. Her company recognized her potential and sponsored her training in specialized areas of cybersecurity, showcasing how investing in upskilling can lead to greater career prospects.

With the tech landscape rapidly changing and evolving, the message is clear: those ready to adapt, learn, and evolve their skills will find abundant opportunities awaiting them. Will you be the next to seize the chance?