Looking 50 years ahead

The Business Times
Published: 10th Feb 2014

What do you think society and the economy (global or domestic) will be like in 50 years’ time? How likely is it that your industry or profession will still be around and relevant by then?

THE progress that Singapore has made from independence to its current status as a First World country – Looking 50 years ahead  within the span of just one generation – is truly remarkable. Due to its small size, Singapore is especially vulnerable to outside forces. Yet, we have also demonstrated the ability to realise achievements against the odds. It is thus hard to predict what the next 50 years holds for the republic. Singapore is going through a major transition period and reinvention will be the name of the game in ensuring we maintain our competitive advantage and continue to prosper for the next 50 years. The world, too, is changing dramatically due to the advances in technology and what is almost guaranteed is that technology will change the way we live. 3D printing, for example, will create a new world of possibilities and Singapore ought to position itself at the vanguard of this technological wave.

PrimeStaff’s core service is supplying manpower to other businesses. As the world shifts towards the use of automation to increase productivity coupled with a reduced reliance on manpower, it is possible that the demand for recruitment services may eventually shrink in 50 years’ time. I believe the industry will still be relevant, as the need for human workers will not be completely eradicated. However, what may change is that demand for manpower may shift towards more ”high-value” and specialised roles as we become an even more knowledge- and technology-led economy.

Ronald Lee
Managing Director
PrimeStaff Management Services Pte Ltd