Refreshed: Uplifting tomorrow's workforce

Singapore could establish a National Leadership Competency Index to define critical skills such as strategic vision, innovation management, and cross-cultural leadership. This index would serve as a benchmark for leadership progression and provide a structured framework for nurturing resilient, forward-thinking leaders aligned with national priorities.

By co-developing the index with professional bodies, Singapore can ensure sector-specific adaptability while strengthening the nation’s reputation as a leadership hub.

Expanding micro-credentialing programmes in areas like AI, ESG, and digital transformation would prepare Singapore’s workforce for immediate skills demands. Introducing enhanced tax deductions or grants for employers investing in short-term certifications could increase adoption.

Additionally, a funding mechanism similar to SkillsFuture—where organisations contribute credits for employee upskilling—would incentivise workforce development and strengthen readiness for emerging challenges.

Professions like accountancy, critical for ESG assurance and business trust, need focused efforts to attract and develop talent. Singapore could partner with universities to create specialised programmes in data analytics and sustainable finance while expanding existing international outreach initiatives.

Adjusting the COMPASS framework to better support high-skilled foreign professionals would also help mitigate talent shortages, ensuring the profession remains globally competitive and ready to meet complex business demands.

Singapore could introduce structured board apprenticeship programmes to cultivate the next generation of leaders. By providing emerging talent with exposure to governance processes and decision-making, such programmes would ensure a sustainable leadership pipeline.

Government-backed initiatives for board-matching, similar to those implemented in the charity sector, could facilitate these efforts and enhance governance inclusivity across industries.

Singapore could mandate annual board evaluations, with externally facilitated reviews conducted at least once every three years. These evaluations would provide objective assessments of leadership performance, governance effectiveness, and board diversity.

Enhanced evaluation practices would also help identify gaps in succession planning, ensuring organisations are prepared to meet evolving market and regulatory expectations.

Boards must play a more proactive role in addressing ESG challenges and fostering innovation. Singapore could introduce directorship accreditation programmes that focus on sustainability, AI, and digital transformation.

These programmes would empower leaders to drive strategic, forward-thinking decisions, ensuring alignment with national goals like the Green Plan 2030. By equipping directors with the tools to navigate complex challenges, Singapore can set a new standard for governance excellence.