Not skilled enough

More post-graduate qualifications courses are needed in Singapore to attract and root high-grade talent.

According to the Association of Chartered Certified Accountants (ACCA) Singapore – Institute of Internal Auditors (IIA) Singapore Roundtable Discussion Report, there is currently a lack of post-graduate qualification and specialist skills educational providers in Singapore.

With Singapore well-known for its high education standards and for positioning itself as an education hub, the panel also felt that there was a need to offer a series of options for post-graduate courses and specialists courses to satisfy the needs of foreign graduates.

It was also suggested that post-graduate courses which incorporate an Asian perspective could put Singapore in a better position to compete with European and American universities.

Participants also felt that perhaps, to some extent, we may have to accept that talent is intrinsically transient. Strategies for attracting talent may therefore have to use this as a working assumption, particularly for high grade talent. In essence, this underscores the meaning of a ‘hub’.

The discussions revealed that more efforts should be made to attract talent at a younger age to allow sufficient time for acculturation and the right conditions for roots to grow. For this purpose, engendering a culture and society which does not alienate Generation Y and Generation Z was seen to be important.

More links are required between educational providers and industry. This is to ensure that graduates have the requisite skills and knowledge for industry and industry participants also contribute to education and professional development.

It was noted that while graduates were technically proficient, many of them had deficiencies in language skills. This was considered a significant impediment as communication skills were critical in a high value-add services- based economy.

Darryl Wee, Country Head, ACCA Singapore said, “With the accountancy sector poised to grow into a leading global accountancy hub, there will be opportunities for educators to offer niche and specialised courses to meet the growing needs of finance professionals and the industry.”

Uantchern Loh, President, IIA Singapore added, “In the re-set world of corporate governance and regulatory compliance, we see a growing demand in the region for highly qualified talents to be Certified Internal Auditors.”