Abstract for:Skills Mismatch and Information and Communications Technology Manpower Shortage in Singapore
As Singapore strives towards developing into a Smart Nation and becoming a technopreneur hub, the country is facing a growing mismatch of skills required in a technology-driven economy. With growing demand for Information and Communications Technology (ICT) labour outstripping the supply of domestic ICT labour, the effectiveness of current measures to encourage ICT skills acquisition is called into question. In this paper, a systems dynamics model was developed using Stella Architect Software, to aid government policy makers and economists in tailoring their policies to solve this conundrum. Our projections show that following the current trend, the labour gap is projected to worsen, leaving 51,000 ICT jobs unfilled by 2030. Using sensitivity analyses, we found the highest points of leverage in the system - University Admissions and Skills Upgrading courses. Armed with this knowledge, we propose policy improvements to expand the number of places in ICT related courses in local universities, as well as to develop more skills upgrading avenues. The combination of these two policies would, as shown by our model predictions, be able to mitigate Singapore’s growing labour deficit, curbing job vacancies in the ICT sector from the current 10% to 5% by 2030.