Executive Summary
The paper discusses current graduate labour market on Information Technology sector in Singapore. Singapore is considered IT hub hosting firms from across the services, software, spanning the internet, as well as Infocomm service space. These firms pursue comprehensive business activities within Singapore, ranging from research or development, offering of solutions to international markets to headquarter functions. The country continues to attract international IT firms and encourages companies to accept cloud computing as the market is anticipated to advance. Singapore has launched Smart Nation policy to steer its IT agenda. The country has many opportunities to offer graduates because of many international IT firms operating in Singapore, good policies, as well as conducive environment for business.
The Current Singapore’s Graduate Labour Market on IT Industry
Singapore can be described as an IT hub. The country has attracted many Infocomm services as well as excellent infrastructure firms due to its strong regime on intellectual property protection, excellent trade and physical connectivity, as well as undemanding access to international talent. Firms from across the services, software, spanning internet, as well as Infocomm service space, which pursue comprehensive business activities within Singapore, ranging from research or development, offering solutions to international markets to headquarter functions. Some of the international firms have established important synergies for the Information Technology sector, which offer a good base for operation or collaboration (Khosrowpour & IRMAIC, 2000). The paper presents graduate labour market on Information Technology sector in Singapore.
Singapore continues to attract international IT firms. For instance, Twitter launched its headquarter in the country. Additionally, Netflix opened its Asian offices in Singapore. The government also started Smart Nation, which is a vision for tapping technology to create job opportunities, improves ways of doing business, as well as enhances the citizens’ lives. In the year 2015, the government of Singapore set aside 2.2 billion dollars for Information Communication and Technology (ICT) digital tenders, web and data services, as well as Information Technology infrastructure (John & Ying, 2011). The government; besides, is encouraging companies to accept cloud computing as the market is anticipated to advance to approximately 1 billion dollars by the year 2017 (Koh, 2011). The entrepreneurs in Singapore keenly follow cloud computing, cyber security, data analytics, design, as well as other many Information Technology services.
The IT sector in Singapore is a significant driver or pillar of the country’s financial system. The Information Technology sector contributes to Singapore’s economy by increasing productivity as well as changing business processes within the industries, for example, healthcare, finance, education, tourism, hospitality, as well as manufacturing. Because Singapore is positioned as IT hub, the country acts as a regional headquarter for international Infocomm firms like Amazon Web Services, Microsoft, Google, Oracle, as well as other multinational IT startup firms (Gunderson & Fazio, 2014).
The Information Technology sector within the country is regulated or controlled by the IDA or Infocomm Development Authority. The regulator is the Singapore’s master-planner. The policy of Smart Nation, government’s initiative, involves creating a platform or forum in which technology may be employed to excellently serve the citizens (Toh, 2013). The policy empowers the citizens by allowing access of data as well as promoting participation or involvement in businesses and government for informed decisions (John & Ying, 2011). The IDA spearheads the Smart Nation policy. The policy is anchored in three significant pillars, which are connecting, collecting, as well as comprehending.
The objective or aim of the connecting pillar is to create a cost-effect, secure, as well as scalable countrywide infrastructure of communication. The comprehend as well as collect pillars target to promote situational awareness through gathering real-time information from sensors’ network throughout Singapore (Organization, 2008). The aim of the Smart Nation Policy is to allow public institutions to be connected to a countrywide operation framework that can permit the growth of improved citizen-centric services, catalyze proper implementation or execution of services by government agencies, as well as promote innovation in activities of the business (Crow & Muthuswamy, 2014). For that reason, Smart Nation Policy is established on information as well as the capability to move, gather, and interpreted to make some sense prior insights may be gleaned as well as lives be enhanced.
The graduates may leverage opportunities within Singapore, especially those having an association with developing applications as well as contributing to strengthening the Smart Nation Policy infrastructure. Some of the significant areas involve business analytics and cloud computing (Heng & Aljunied, 2009). Other areas of opportunity include thrust infrastructure design, security, as well as implementation. Establishing applications for location-based services as well as mobile services also provide employment opportunities for graduates. The development of digital content also offers opportunity (Xiang, 2007). Other opportunities exist in the exploration of significant technology themes that the government of Singapore has singled as areas that can shape the nation’s Information, Communication, and Technology (ICT) growth. These themes include cyber security, social media, big data, Internet issues, cloud computing, user interface, novel digital economy, ICT and its sustainability, as well as communications in the future (John & Ying, 2011).
The MOM or Ministry of Manpower released a report that revealed that the country’s (Singapore) employment reduced in the first quarter of 2015 (John & Ying, 2011). The reduction was approximated as 6100 employees in the first quarter. It marked the first occurrence of employment decline in Singapore after 5 years of good records of increase. However, despite the weak or disappointing labour market, experts assert that data analysts, as well as programmers, are in high demand in the country (Wilson, 2011). Jobs in the fields of IT, research, development, pharmaceuticals, as well as life sciences are in high demand. In the opinion of Kelly (the Singapore's Vice President) digitalization and technological growth of the globe contributes to the high demand for IT professionals. The country has many opportunities to offer graduates because it is developed nation having one of the most thriving economies in the globe. It enjoys growth in fields such as finance, software engineering, and Information Technology, which offer opportunities for graduates.
References
Crow, G. B., & Muthuswamy, B. (2014). International outsourcing in the information technology industry: Trends and implications. Communications of the IIMA, 3(1), 3.
Gunderson, M., & Fazio, F. (2014). Tackling youth unemployment. Newcastle upon Tyne: Cambridge Scholars Press Ltd.
Heng, D. T. S., & Aljunied, S. M. K. (2009). Reframing Singapore: Memory, identity, trans-regionalism. Amsterdam: Amsterdam University Press.
John, B, Ying, Z. (2011). The Dynamics of Asian Labour Markets: Balancing Control and Flexibility, Routledge Studies in the Growth Economies of Asia. UK: Taylor & Francis.
Khosrowpour, M., & Information Resources Management Association International Conference. (2000). Challenges of information technology management in the 21st century: 2000 Information Resources Management Association International Conference, Anchorage, Alaska, USA, May 21-24, 2000. Hershey, Pa. [u.a.: Idea Group Publishing.
Koh, B. S. (2011). Brand Singapore. Singapore: Marshall Cavendish International (Asia) Ptd Ltd.
Organization, E. C.-D. (2008). OECD Information Technology Outlook 2008. Paris: Organization for Economic Co-operation and Development.
Toh, M. H. (2013). Singaporean economic development and peculiar observations on saving, labour share, productivity, and current account surplus. Institutions and Economies, 5(2), 101-130.
Wilson, P. (2011). Challenges for the Singapore economy after the global financial crisis. Singapore: World Scientific.
Xiang, B. (2007). Global "body Shopping": An Indian labor system in the information technology industry. Princeton, N.J: Princeton University Press.
