The annual study is developed by Robert Half and was conducted in December 2017 by an independent research firm, surveying 150 CFOs in Singapore.
Survey results indicate that the new skills required of finance professionals by digitization include data analysis (51%), financial reporting and analysis (38%), and data forecasting (35%).
In response to recent innovations such as blockchain, AI, and virtual banking, Singaporean employers are taking a proactive approach to employee upskilling, said Robert Half.
According to the survey, the top methods of professional development are:
- external training (61%)
- employee membership of professional finance bodies (37%)
- internal training (36%)
- sponsoring of professional qualifications (35%)
- working with industry bodies (35%)
“To maintain an organisation’s long-term future, learning and development programs need to be an ongoing initiative to equip staff with the skills and ability to adapt to the workplace of the future,” said Matthieu Imbert-Bouchard, Managing Director of Robert Half Singapore.
“While arming staff with key skills needed to tackle digitization in the workplace, professional development programs also incentivize staff to remain with the company and highlight the organization as an employer of choice,” he noted. “This is particularly relevant to successfully attract career-driven Millennial professionals.”