Workforce of the Future

ISCA CEO, Mr Lee Fook Chiew, was quoted in The Business Times on the question of "How should the concept of labour be updated for the new economy? What key traits would be most critical for a future-ready workforce? " This is what he has to share:

For businesses to thrive in today’s rapidly changing business landscape, the use of technology to enhance operations has become an integral part of any business functions. For example, in the accountancy field, accountants are increasingly using technology tools like Robotic Process Automation, artificial intelligence and machine learning as enablers to provide more timely and insightful financial information and analysis to support business decisions.  

Changes in the work environment calls for the accountancy profession to acquire new skills, deepen existing skills, and broaden their mindsets, to stay relevant and meet business needs. In the fourth industrial revolution, soft skills will also grow in importance. Beyond technical proficiency, accountancy professionals must develop their emotional intelligence, interpersonal and people management skills, and business acumen. 

The world will become more complex given changes to come at a much rapid pace. The professional judgment and knowledge that the accountancy professionals bring to the table will however remain the same and are just as valuable in the changing environment, if not even more so. These are complex human traits that deal with matters beyond facts, numbers and automation.

- Lee Fook Chiew, Chief Executive Officer, Institute of Singapore Chartered Accountants (ISCA)

This article was first published in "Views From the Top" in The Business Times on 6 May 2019.