Commentary: In this tough job market, retraining alone is no silver bullet

a technical recession this quarter, two issues remain: Retrenchment numbers are up. Hiring activities are down.

But can retraining save you from redundancy in this economic outlook? And what kind of training should you be focused on?Acquiring new knowledge and skills should be an ongoing effort, irrespective of job market conditions. Yet the reaction I usually get when the topic of re-skilling pops up is that it takes time and is impractical.

Retraining is often thought of as an exercise to gain technical skillsets in the face of new technological tools. While this might be the case for most operational roles, most jobs today require agility and self-awareness. When asked about DBS’s secret ingredient to success, CEO Piyush Gupta discussed his priority around developing a receptive culture that understands the imperatives for change. “One of our rallying crisis has been, how do you create a 22,000 start-up?”It has also since identified staff who can be reskilled to serve new customers’ banking needs. A branch service executive’s role now includes helping customers learn how to use self-service options.

READ: Commentary: Tattoos, being overweight or dressing casually - do looks affect your chances of getting hired?

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