The Institute of Human Resource Professionals just released a rather paradoxical finding recently…. that in Singapore, Executives were increasing in SkillsCurrency, but ironically, were decreasing in Capabilities.
In their fourth Job Skills Insight study, 335 participants, 40+ sectors, published 20 July, they concluded that “Singapore’s persistent capability gap is not a skills deficit but an application deficit.”
In other words, we seem #Skilled enough, but we somehow still lack the #Application of those Skills.
I see this constantly in our Coaching Practice, and we talked about in our latest Book, Your 7 Career Currencies … Skills Currency and Experience Currency are not the same thing, and Executives keep confusing one for the other.
Skills Currency is what you can do.
The certificate, the course, the credential. It’s necessary. It’s also the cheapest currency to acquire, which is exactly why Singapore has flooded it with SkillsFuture credits and mid-career subsidies.
Experience Currency is what you’ve actually applied, under pressure, with consequences attached.
It’s actual proof, not promise or potential… And it can only be built one way – by being handed real problems and real accountability for success or failure.
Lemme ask you a question – Would you trust someone with 5000 hours on a Flight Simulator but ZERO Actual flying experience to pilot your plane?
He’s #Skilled, but I wouldn’t trust him to get into the pilot seat!
That’s what IHRP is describing at national scale. Organisations are pouring people into upskilling programmes, but not letting them put these skills to practice…resulting in a #CapabilityDeficit.
So, instead of collecting certificates, start asking “What practical application can I put my new knowledge to get better results?”
We had a Client who was a 38 yr old Supply Chain Manager – she took up a Data Analytics course, then applied her knowledge to building a Predictive Analytic Model for her Supply Planning Forecasting. She managed to save her company $1.5m in the first year alone and the CEO created a “Director of Revenue Optimisation” role just for her, along with a 25% jump in Salary.
She did not just let the head knowledge sit unutilised – she applied it to a practical situation and gained new Capabilities.
And when you gain enough #ExperienceCurrency, you’ll start to see your #Value, #Relevance and even #Salary increase.
#CareerAgility #SkillsFutureSG #FutureOfWork #ExecutiveCareers #CareerCurrencies
