As our world of work gets radically transformed by digitalisation, a majority of Malaysians are feeling prepared for the future of work. According to the latest Q2 2019 Randstad Workmonitor study, almost nine in 10 (87%) said that they feel equipped to deal with digitialisation in their jobs.
That said, the majority of Malaysians (63%) also expected their jobs to be automated within the next five to 10 years - 29 percentage points higher than the global average of 34%.
Hence, 89% of respondents expected their employers to invest more in developing their digital capabilities to help them stay employable.
More than three in five (66%) said their employers are already investing in training the workforce in the field of artificial intelligence and machine learning. At the same time, 73% revealed they are investing in themselves.
Jaya Dass, Managing Director at Randstad Singapore and Malaysia, said: "The fourth industrial revolution will dramatically change the skills that companies need to be innovative and make progress. We observe that it will be a collective effort by job seekers, employers and educators to build a future-ready workforce. Companies should start by looking at the skill and talent gaps, invest in training programmes to get their workforce up to speed, and help prepare them for the future where job responsibilities are expected to be more complex and sophisticated."
In addition, 71% said that their employers have a need for workers with STEM profiles. However, with more than half (55%) saying that employers are having trouble finding people with the right skills today, and 63% saying finding the right talent would be more difficult in the future.
In that line, it's no surprise that 88% felt more students should focus on a career in STEM.
When asked what they would do differently if they were 18 again, a large majority revealed they would focus on a field of study within STEM (87%). A similar percentage (89%) said they would focus on a field of study within digital/ online.
"The fourth industrial revolution focusses on applying technology in meaningful ways to improve the overall quality of life and how we can essentially interact with each other. We foresee the shortage of STEM professionals in Malaysia will impact the speed of development in expanding industries such as technology, smart manufacturing and engineering, as well as financial technology. However, the increasing number of career opportunities that require STEM qualifications will motivate more people to equip themselves with relevant technical skills as they seek to remain employable," Dass concluded.
Infographics / Randstad Photo / 123RF