There are more than 56,000 vacancies—with the highest amount for engineers!
The government recently conducted their talks on the Committee on the Future Economy (CFE) that would lead the way for the Budget 2017. CFE tackles the imminent and urgent problems that technological disruptions and global unprecedented changes will bring Singapore. One of the main points of focus recently is the increase in number of job-seekers as the economy braces for a volatile period. They’ve called upon a unique solution to face this issue: a revamped job portal that will be launched to aid job-seekers.
The Jobs Bank was previously launched in 2014. Many fresh-grads have responded positively to this portal as they seek to find just the right fit after their tertiary education. But, it still lags behind popular job-search sites like LinkedIn, Jobstreet, ST Jobs etc.
Jobs Bank is an “online job portal managed by Workforce Singapore, which facilitates job-matching opportunities between employers and local job seekers.” Jobs Bank aims to cut the chase between employers and employees by connecting them easily and more efficiently in an all-in-one job portal. A large factor in the abundance of job vacancies was specifically attributed the misinformation or the lack of access to information, not the lack of takers.
What You Can Expect
The portal will be able to recommend jobs and courses to people based on their work experience and skills through their profile and resume, according to Singapore Human Resource Institute. This is a basic function that most portals provide.
The revamped Jobs Bank portal is also enhanced with an integration with SkillsFuture in order to provide jobseekers a one-stop platform for their all their employment and training needs, according to Labour MP Patrick Tay. The portal will help identify one’s skill gaps compared to the other job-seekers based on their curriculum and job applications. Thereafter, jobseekers can use the career resources provided on to enroll in training sessions to fill in their skill gaps. (Labour MP Patrick Tay)
As part of a government portal, the clear advantage would be the availability of accurate statistics and information provided. Information collected from the site would be useful to alter job training policies according to job trends. For instance, if a certain sector is facing a shortage of equipped and skilled locals, training agencies can then redirect their focus in that area.
The influx of foreign talent taking jobs in Singapore has already been a major controversial topic for a while. If it remains one of your concerns, Jobs Bank should offer some comfort. Under the Fair Consideration Framework by MOM since 2014, companies seeking to hire foreign personnels are required to post their job vacancies on Jobs Bank for at least 14 days.
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The Difference
Singaporeans will be able to turn to one portal for their training, learning and employment needs, spokesmen from both agencies told The Straits Times yesterday.
A quick click on Jobs Bank and Jobstreet will show diversity and breadth of both sites. Based on my first impression, here are some of the obvious difference.
Job Street is focused on being a “job-searching” site.
Whereas Jobs Bank would be more of a career-directory for anyone that is job-searching; offering more thorough resources that go beyond typical job searches. Clicking on any of their extended sections like “Career events” will link you to Skillsfuture site.
We won’t be doing a comparison, but there’s no harm trying out a portal that will up the chances of finding just the right fit.
Check out Jobs Bank here.
