Tuesday, Jul 22, 2014Tuesday, Jul 22, 2014
Singapore
 

Degree holders 'most vulnerable' to retrenchment

Experts cite reasons like demand for non-academic skills and restructuring

Published on May 26, 2014 7:30 AM
 
IT project manager Sylvia Tan, 51, lost her job of 29 years when her business unit was cut earlier this year due to restructuring. -- ST PHOTO: DESMOND LIM

In the last two years, degree holders here have found themselves the most vulnerable to losing their jobs, among all qualification groups.

Since 2011, their share of residents made redundant was also disproportionately higher than their share of all resident workers.

Experts suggested three reasons for this - jobs lost in restructuring tending to be held by graduates, greater demand for non-academic skills, and substitution by skilled foreign labour.

"As graduates become more available, it brings about more friction in the job-matching process," said SIM University economist Randolph Tan. "Many graduates think that getting a degree is a pinnacle of achievement, but what they don't realise is that the workplace demands much more of them."

 
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