Singapore’s workplace culture is undergoing a significant shift, set against the backdrop of a globally fragile economic outlook. Locally, the pressing issue of talent shortage looms large, with 83% of companies reporting challenges in securing needed workforce.
The government’s solution to this is straightforward — to reskill local talents. These initiatives not only help workers adapt to technological disruptions, but also play a crucial role in achieving social mobility, enhanced productivity, and increased wage levels within society.
But as reskilling efforts have mainly targeted early to mid-career individuals, the overlooked segment remains the ones in their late career or post-retirement. According to Board Match-Up, a digital platform reshaping boardroom dynamics in Singapore, this is where the stakes are the highest — as they possess valuable experience and knowledge for companies. Yet without reskilling, this potential may be lost.
A Treasure Trove of Institutional Wisdom
The emphasis on reskilling younger employees has its merits. They are often seen as more moldable, adaptable, and capable of acquiring new skills. Organisations may prioritise investing in younger individuals as they are perceived to have longer potential careers.
The overlooking of late-career individuals in upskilling initiatives often stems from the assumption that they have fewer years remaining in their careers. Ageism in the workplace can further contribute to this neglect, hindering the inclusion of older employees in such programs. The design of some reskilling initiatives, including requirements that assume a specific level of technological proficiency, may also unintentionally exclude late-career workers.
But the fact remains: Late-career individuals not only bring a wealth of experience and expertise to the organisation, but also play a crucial role in shaping the company’s culture by contributing diverse perspectives.
By emphasising reskilling for late-career individuals, organisations can help retain and leverage their valuable knowledge, preventing a loss of institutional wisdom. Additionally, it provides an opportunity for knowledge transfer from experienced workers to younger colleagues, fostering intergenerational knowledge sharing that bridges skill gaps within the organisation — ultimately contributing to a more robust and well-rounded workforce.
Strategic Reskilling: Enhancing Late-Career Skillsets
Reskilling late-career individuals requires a tailored approach to address their specific needs and experiences, such as Board Match-Up’s Accelerator program designed for directors and C-suite executives.
This program, centred around self-reflection, personal branding, professional coaching, and mentorship, aims to equip participants with knowledge, and confidence needed in the boardroom.
This is achieved by focusing on two main aspects: cultivating community connections and enhancing transferable skills.
The Collaborative Edge: Learning in Community
Community building is a strategic initiative to foster a collaborative environment. Through Board Match-Up, for instance, networking opportunities are provided through forums, discussion groups, and events, allowing members to connect, share experiences, and exchange insights on boardroom practices.
This approach promotes collaborative decision-making by encouraging diverse perspectives and leveraging the collective intelligence of the community — essentially enhancing decision-making through a diverse pool of insights.
Community also fosters a continuous learning culture by encouraging individuals to stay updated on industry trends and technologies, nurturing a lifelong learning mindset. Simultaneously, creating a supportive environment where they feel comfortable seeking guidance and addressing any concerns at the leadership level.
As complex ideas take centre stage at the decision-making level, priority is given to fostering effective communication and other transferable skills. This not only underscores the portability of strategic thinking skills, but also showcases leaders’ pivotal contribution to the success of diverse organisations.
Tomorrow’s Workplace Today
By embracing tailored reskilling approaches, there is plenty of room to enhance the skillsets of late-career executives. The emphasis on community connections, diverse perspectives, and lifelong learning also highlight the potential for a more robust and well-rounded workforce. The message is clear: strategic reskilling, coupled with a collaborative and continuous learning culture, is not only a solution to talent shortages but a pathway toward a more resilient and thriving future for Singapore’s professional landscape.
About the author
Karunesh Prasad (KP), founder of Board Match-Up has over 30 years of experience working with clients worldwide, supporting Business Transformation, HR Transformation, Process Improvement, Design Thinking and
Post-Merger Integration projects. He’s a talent and transformation expert, keynote speaker, interim CHRO, executive coach and advisor.
