How PayPal secured skilled tech talent with TechSkills Accelerator

Global competition for tech talent has become increasingly critical and companies are well-aware that they need to raise their game, not just by attracting talent but also by actively developing them.

Singapore’s TechSkills Accelerator (TeSA), driven by the Infocomm Media Development Authority (IMDA), allows companies to partner with the Government to build and safeguard their own talent pipeline. Read on to find out how Paypal Singapore used TeSA to find talent quickly and accelerate its growth.

A quick look at TeSA 

• An initiative between the Government and industry, TeSA is a suite of programmes offering varying levels of financial support and facilitation for companies looking to hire, develop and retain tech talent. Companies can select programmes based on their varying talent needs and time-frame requirements. 
• TeSA aims to bridge companies’ talent needs with a supply of skilled and ready-to-be-skilled tech talent and train existing employees through tech courses and industry-recognised certifications. 
• Since 2016, TeSA has trained over 120,000 individuals across different areas such as agile software development, cybersecurity, artificial intelligence (AI), cloud and blockchain. It has also placed about 12,000 individuals in tech jobs across companies.

Win the race for skilled tech talent - A PayPal case study

PayPal’s international headquarters in Singapore serves many of the over 200 markets it operates in.

Having recently expanded its operations in Singapore, the need for more tech talent was intensified, especially with accelerating rates of digital transformation driven by COVID-19.  The global fintech company sought talent in specialised areas such as product management, cybersecurity, software engineering and data science.

In a proactive approach to talent sourcing, the fintech company went beyond fresh university graduates and cast its nets into other industries. This broadened the pool of talent to include those from diverse backgrounds who were able to bring relevant skills to the role.

For example, the tech company saw that professionals were familiar with SQL and other programming languages even in the Oil and Gas sector, increasing the chances of potential fit with PayPal’s core activities. TeSA’s CLT, which PayPal selected because of its focus on developing tech talent for specialised roles, enabled a better transition of these professionals into their new functions through customised training within a holistic development environment.

The IMDA works with companies to design company-specific programmes to onboard and develop trainees so that specific capability gaps can be addressed for each organisation. PayPal adopted its unique training programme based on its best practices.

An investment that yields long-term benefits

PayPal is on course to grow its workforce in Singapore by 25%. Having enjoyed success through the skilled talent it has attracted and retained through TeSA, PayPal now has a strong case to further increase its tech investments in Singapore.  

Aaron Wong, CEO of PayPal Pte Ltd, elaborates, “The Government’s involvement in TeSA, coupled with its long-term view on developing the tech sector, minimises companies’ risks and enables continuity over multi-year journeys. Companies expanding into Singapore are joining a tech community where they can enjoy continual growth.”

There is no doubt that the worldwide competition for tech talent is intense. Long-term wins do not happen overnight, but with Singapore’s vision of building a vibrant digital economy anchored by a strong commitment to equip companies with skilled tech talent, companies here are in good stead to win the talent race.