Shelley Chan:
Hi Eugenia, it’s great to be with you today.
Eugenia Tay:
Likewise, Shelley. I’m looking forward to diving into our discussion.
Shelley Chan:
Today, we are exploring how Budget 2026 can help firms rethink their talent strategies to succeed in a tech-driven and uncertain world – what we refer to as a new global order.
Eugenia Tay:
Yes, and that global order is already here. The Intelligent Age is reshaping everything – from how businesses operate to how people work. Firms now face a dual challenge: building a workforce that is AI-ready and sustainability-ready.
Shelley Chan:
I think that’s a great starting point. At its core, this means reimagining how we attract, retain and develop our talent. Now, Singapore must strengthen workforce competencies to drive sustainable growth and maintain a strong social compact. And that’s not just about technical skills. It’s about embedding both hard and soft skills – from AI literacy and cybersecurity to empathy and ethical judgment. So businesses can adapt and lead.
Eugenia Tay:
To build on that, there’s another dimension that we need to address: the type of leadership talent Singapore needs as a global flows hub. Our economy sits at the intersection of trade, finance, and data. And businesses here must navigate a complex web of governance requirements, trade rules, tax policies, and sustainability standards.
Compliance may bring higher upfront costs, but it also lays the foundation for innovation – in areas like green finance, carbon accounting, and environmental data exchange. To make this possible, Singapore needs specialised leadership talent with expertise in areas such as supply chain management, AI governance, and sustainability strategy. These individuals must be able to connect the dots across domains, linking data governance with trade compliance or integrating sustainability goals into business operations.
Shelley Chan:
That’s absolutely right. And that’s why our three recommendations today focus on building specialised talent and leadership capabilities for this new global order. Number one, specialised work passes for global mentors. Number two, flexible work arrangements and career exploration platforms. Last but not least, co-funded training and certification initiatives.
Eugenia Tay:
Yes, so let me start with the first recommendation. Introducing a dedicated work-pass category for “master trainers” and mentors. This would attract international professionals with proven expertise in leadership, innovation, and workforce development. These experts could join local companies, public agencies and training institutions to lead structured upskilling and leadership programmes.
The goal? Accelerate skills transfer, expose the local workforce to global best practices, and build a strong leadership pipeline – all without requiring overseas travel. These programmes could even include peer-sharing platforms for C-suite leaders, fostering collective learning assessed on sustainability capabilities and empowering leaders to redesign roles and workflows ahead of market shifts.
Shelley Chan:
I guess that’s a great way to bring global expertise into Singapore without the cost and complexity of sending people overseas, right?
Eugenia Tay:
Yes, exactly. And to make this impactful, we recommend tying incentives to measurable outcomes. Because these involve cross-border talent mobility, compliance frameworks will be critical. Singapore can lead by designing tax incentives and streamlined immigration processes that make it easy for firms to bring in these experts while ensuring regulatory clarity.
Shelley Chan:
That’s a great insight, Eugenia. And it actually complements our second recommendation, which is bridging skill gaps through flexibility and career exploration.
Now, Singapore has a lot of untapped talent pools, from retirees, caregivers and overseas professionals as well. Now, they could contribute if given the right opportunities and platform. So, by offering flexible and part-time work arrangements, we can bring these individuals into the workforce.
Eugenia Tay:
That’s interesting, Shelley. Flexibility seems like a win-win. Businesses get access to talent, and individuals get options that accommodate their work-life aspirations.
Shelley Chan:
Absolutely. But flexibility alone isn’t enough. And that’s why we’re proposing a national digital platform to match people with virtual assignments, micro-projects and job-shadowing opportunities across industries. This would allow professionals to test new career paths, gain exposure to emerging sectors and industries, and make informed decisions about reskilling or upskilling. It’s about creating a dynamic, inclusive talent ecosystem that adapts to change and helps Singapore stay ahead and stay competitive.
Eugenia Tay:
Yes, that sounds like a game-changer for professionals exploring new career paths. It creates a safe space to experiment without committing to a full-time role. Now, Shelley, you began our conversation referring to a new global order – and part of this is an increasingly competitive talent landscape. Let’s turn to our third recommendation, job transformation roadmaps paired with co-funded training and certification initiatives, tailored to sectoral needs.
Shelley Chan:
Yes, and this is very critical, because AI disruption isn’t uniform. Some sectors will feel the impact more and quicker than others. So, roadmaps would help businesses anticipate these changes by outlining sector-specific workforce disruptions, challenges, and opportunities. Now, in turn, businesses can then prepare their workforce more effectively going forward.
Eugenia Tay:
Yes, and together with the roadmaps, industry-recognised certification programmes provide a structured, credible way to assess skills, especially in fast-evolving sectors where traditional qualifications may no longer suffice. And when these certifications are portable across firms and industries, they make workforce mobility easier. This is another big advantage.
Shelley Chan:
Definitely. And this is where the public and the private partnership comes in. For example, dedicated training for local businesses to prepare for the International Sustainability Standards Board (ISSB) disclosures would strengthen Singapore’s position as a global hub for sustainable business.
Now, to sum up, by adopting some of these proactive and expansive recommendations, I truly believe that Budget 2026 can really help Singapore create a future-ready workforce – one that is competitive, cohesive and inclusive in an increasingly intelligent and sustainable world.
Eugenia Tay:
Thank you, Shelley, for this enriching discussion.
The future of work is here. And with the right strategies, Singapore can lead the way.
Shelley Chan:
Absolutely. Thank you, Eugenia.
