From technological disruptions to ageing populations, the world of work is being transformed by a range of forces. Temasek’s new report, Future-Ready Workforce: A Temasek Ecosystem Perspective, lays out the importance of a proactive, collaborative, and comprehensive approach to managing the challenges ahead.

The workforce can thrive on this transformation – but this will take effort from individuals, their employers, and policymakers.

Shortage of tech talent

Rapid technological change is deepening the shortage of tech talent. Some new roles are emerging from this shift, such as in cybersecurity. At the same time, existing roles are also increasingly calling for tech skills – this could put older employees at risk of falling behind unless they upskill or reskill.

The need for tech skills spans industries. In manufacturing, for example, companies are seeking workers able to manage digitised facilities that incorporate technologies like autonomous robots. At the same time, in the real estate sector, workers will be expected to be familiar with predictive analytics, virtual tours and AI tools to support decision-making. 

The skills gaps created in large part by technological disruption are widening rapidly. According to the World Economic Forum, workers might expect two-fifths of their current skills sets to be different or defunct by 2030. This is likely to worsen the ongoing ‘talent crunch’ in Singapore, where 83% of employers reported difficulty finding workers with the right skills this year, up from 79% in 2024.

These skills gaps must be addressed proactively, such that workers can adapt and companies have ready access to the talent they need, with AI-enabled workers, job redesign and flexible work models at the forefront of this inclusive transformation.

Temasek and Tripartism

Our portfolio companies are supporters of Singapore’s model of tripartism, in which unions, employers and the government work together towards shared goals, such as ensuring that workers are equipped with relevant skills for a future in which the workforce and work look very different from today.

Temasek is a convenor and catalyst for this transformation. We can leverage our tripartite relationships and the diverse expertise of our portfolio companies, putting us in an ideal position to detect emerging challenges and ensure our portfolio companies are ready to face them. For example, DBS has transformed its workforce through digital innovation over the past decade, embracing data and AI capabilities – but also working to engage employees with these tools, such as through hackathons and town halls.