It’s a whole new game in the current job market. Technology, automation, and shifting industry demands mean the skills that secured jobs yesterday may not even get you noticed tomorrow.
Many in Singapore feel this change. A recent survey found that 62% of professionals believe degrees matter less now than they did 20 years ago. Globally, 87% of companies expect skill gaps within five years—gaps that conventional academic qualifications or previous work experience alone may not be enough to fill.
So, how do you future-proof your career in this scenario? How do you navigate this constant change, whether you’re fresh out of school, a professional feeling stuck, or a career switcher?
The answer lies in acquiring practical, job-relevant skills—something diploma programmes are uniquely designed to deliver.
Skills-Based Hiring is the Future
Employers are rewriting the hiring rulebook as many are adopting Skills-Based Hiring, a practice that evaluates candidates based on what they can do, not just their qualifications or previous work experiences.
Case Study: DBS Bank in Singapore has adopted a skills-based hiring approach for data analytics roles, prioritising proficiency in AI skills and data analytics over formal degrees. By doing so, the bank taps into a wider talent pool, including those from non-traditional academic backgrounds, while also training over 16,000 of its employees in emerging skills to support its digital transformation.
This shift isn’t just progressive; it’s an economic necessity. As companies strive to keep up with change, 63% identify skill gaps as a major barrier to growth and transformation. That’s why:
- 70% of employers plan to hire staff based on new skills (AI literacy, data analytics, green skills, critical thinking)
- 50% intend to transition staff from declining roles to areas of growth by helping them reskill.
- More crucially, 40% expect to reduce staff whose skills simply don’t match future needs.
As a result, companies are mapping out future skill needs, launching upskilling programmes, and partnering with institutions to offer practical learning. For job seekers, this means one thing: your next career opportunity may depend more on what you can do than what’s on your degree.
Lifelong Learning = Career Longevity
Think about how quickly AI entered our lives. Or how entire sectors like retail or finance now rely on automation and data. This evolving nature of the job market means learning can’t stop after graduation.
That’s why the World Economic Forum lists lifelong learning among the top 10 skills for the future of work. Singapore’s Minister of Education, Mr. Chan Chun Sing, echoes this sentiment, stating in one of his speeches:
Committing to lifelong learning ensures your career can weather the inevitable shifts in the job market. This is precisely where a targeted diploma offers support in your continuous learning. Designed with job-readiness in mind, diplomas can help you gain practical, industry-relevant skills that directly address “what you can do?” and align with the current skill-based hiring trends.
For instance, a Diploma in Accounting and Finance that includes a Data Analytics module trains you in managing information technologies and their application in practical business situations. This helps you showcase your expertise in financial forecasting, decision-making, creating automated dashboards, and interpreting large financial datasets—key skills that recruiters actively look for in financial analysis and accounting roles.
Discover how Dino Ma Gloren Moncada journey of continuous learning as she pursues LSBF’s part-time Diploma in Accounting & Finance while working and already holding a degree. Click Here
Bridging the Gap: How Diplomas Align with What Employers Want?
With 85% of employers in major economies prioritising upskilling their workforce, the focus is clearly shifting from traditional qualifications to job-ready skills.
Underscoring this reality, Singapore’s Ministry of Manpower’s latest job report revealed that 79% of job vacancies did not prioritise traditional academic qualifications as a primary requirement, up from 75% in 2023.
Traditional academic paths provide broad learning, but may lag in delivering emerging job-ready skills like AI literacy, green skills, data interpretation or analytical thinking that employers actively seek. Diploma programmes can fill this gap through:
- Industry-relevant curricula reflecting current job market demands
- Hands-on learning and real-world case studies
- Specialising in high-demand sectors like IT, Data Analytics, AI, Cybersecurity, Finance, and more
- Better alignment with AI-powered resume screening by highlighting role-specific skills and industry keywords.
Does this mean traditional academic qualifications are obsolete? Not at all. However, a diploma can supplement a degree by adding specific, in-demand skills or stand strongly on its own by providing focused, vocational expertise that aligns directly with employer requirements.
It boosts your visibility and demonstrates the adaptability, relevance, and resilience employers increasingly value in a rapidly changing world of work.
How LSBF Supports Your Upskilling Goals
London School of Business and Finance (LSBF) Singapore Campus meets this growing demand by offering diploma programmes across key industries:
- Technology (AI, Data Analytics, Data Science, Cybersecurity)
- Business, Law, Accounting, and Finance
- Hospitality, Logistics, and Banking
Designed with industry input and flexible learning in mind, LSBF Diplomas programmes equip students with job-ready skills such as problem-solving skills, digital literacy and sector-specific competencies that can lead to opportunities for career advancement (some are also available in Chinese to support native-language learners). Explore LSBF’s wide range of Diploma Programmes and thrive in a skills-first job market.
