EDIS Launches "JobTech(TM) PMET" Technology Engine to Help Retrenched Executives Find Jobs

SINGAPORE, Nov. 10, 2016 /PRNewswire/ -- Economic Development Innovations Singapore Pte Ltd (EDIS) is launching JobTech™ PMET, the first Artificial Intelligence and Big Data job technology platform to boost the re-employment chances of retrenched PMETs (professionals, managers, executives and technicians).

PMET retrenchment is on the rise. This issue has been highlighted in recent government reports on the worsening labour market condition in Singapore, in particular, the challenges faced by retrenched PMETs. According to the Monetary Authority of Singapore Macroeconomics Review October 2016, PMETs accounted for more than two-thirds of the residents laid off in the first half of 2016 and only 40% of resident PMETs made redundant re-entered the workforce within six months.

EDIS Chairman Mr Philip Yeo said, "I spent the better part of my career creating good jobs for all Singaporeans. In my discussions with retrenched PMETs in Singapore, they have requested assistance to identify job and training opportunities to help them re-enter the workforce and be productive again." Mr Yeo, who is former Chairman of the Economic Development Board and spent nearly 50 years in the civil service leading Singapore's job creation and talent development efforts added, "I hope that JobTech™ can make a positive impact on Singapore's jobs economy."

JobTech™ PMET is built on Artificial Intelligence and Big Data technology that was developed by the Business Analytics Group within the Institute for Infocomm Research (I2R) from the Agency for Science, Technology and Research (A*STAR). JobTech™ PMET aims to use cutting edge data analytics technologies to provide aggregated insights to boost the re-employment chances of jobseekers.

Unique features of the complimentary beta version of JobTech™ PMET include:

1. Automated one-stop search platform: Get accurate, real-time and unified view of the job vacancies, representing about 90% of the total online job advertisements in Singapore. This feature potentially addresses the issue of 'missed match' jobseekers who are unable to keep track of where and how to pursue jobs that could be suitable for them.
2. Targeted skills upgrading: Identify the skillsets required to land a job and to match the required skills to training opportunities funded through Singapore's SkillsFuture initiative.This feature potentially addresses the issue of 'mismatched' jobseekers who may not have the skills, expertise and experience needed by the employers; and could benefit from targeted skills upgrading and training intervention opportunities offered by SkillsFuture.
3. Find jobs closer to home: Identify the location of available jobs for jobseekers who want to work closer to home. In conversations with numerous PMETs in Singapore, jobseekers have indicated to the JobTech™ PMET team that they would like to access job opportunities that are closer to where they live in order to reduce commuting time and stress.

EDIS is in discussion with various partners, including agencies within the Singapore government to refine the JobTech™ technology engine and welcomes ideas and partners for commercialization and technology refinement.

e2i (Employment and Employability Institute) is collaborating with EDIS to enhance JobTech™ PMET's value and outreach to PMETs. e2i CEO, Mr Gilbert Tan, said, "With rapid transformation in industries and skills requirements, the current employment landscape requires constant engagement with a wide network of partners to create new training and job matching solutions for Singaporeans. JobTech's aggregated insights provide useful one-stop job and skills access. e2i sees many possibilities for this tool to complement employability coaching, training advisory, and job matching for PMETs."

Interested users of the complimentary beta version of JobTech™ PMET can access it at: https://jobtech.edis.sg/

For media enquiries, please contact:

Ms. Charlotte Lim
Vice President, Operations & Strategy
Tel: +65 6908-7642
Email: charlotte.lim@edis.sg

About EDIS

Economic Development Innovations Singapore (EDIS) Pte Ltd is a privately-owned international economic development company that is headquartered in Singapore, with overseas offices in the US and Germany. EDIS provides strategic advice and undertakes the development and management of integrated industrial parks. Our management team comprises veterans who led more than 15 successful township and industrial park developments in Asia -- cumulatively creating 1 million high value jobs outside Singapore, and attracting more than US$20 billion of dollars of foreign direct investment to the selected locations. EDIS works with governments and global investors to leverage Singapore's development experience for the benefit of other countries. EDIS continues to push the envelope in investment promotion by developing an Investment Promotion 2.0 (IP2.0) framework which leverages technology to accelerate and increase the productivity of traditional investment promotion activities.

For more information on EDIS, please visit www.edis.sg.