SINGAPORE – Singapore needs to develop self-reliance and self-sustaining workforce insurance policies, stated Minister of Manpower Tan See Leng.
Dr Tan is in Geneva, Switzerland, to attend the International Labour Organisation Conference.
Speaking just about at Nomura’s annual funding discussion board on Wednesday (June 8), Dr Tan stated one other pandemic may hit and if there are border restrictions, Singapore will face labour points once more.
‘If we do not construct that resilience, if we do not construct our personal self-sustainability, then I feel as a rustic, will probably be very powerful for us to have the ability to compete and survive,” Dr Tan stated.
To that finish, he stated the Government has made creating a robust Singaporean core within the workforce a key precedence.
It is doing this by accelerating expertise adoption and by equipping Singaporeans with expertise for future jobs.
At the identical time, Dr Tan acknowledged that there’s a want for a various workforce which contains each native and overseas staff.
Dr Tan stated the Government recognises that the native workforce is inadequate to meet all of the needs of companies.
Hence, he stated, it’s important that Singapore can entice the appropriate overseas workforce who will deliver within the expertise that may complement the native workforce.
Mr Euben Paracuelles chief Asean economist at Nomura, stated there’s undoubtedly a case to be made for complementing the Singapore core.
He stated the workforce is ageing and a few expertise are extremely specialised.
To handle the problem of an ageing workforce and to allow older Singaporeans who can and wish to proceed to work, the Government will increase the statutory retirement age to 65 and the re-employment age to 70 by 2030.
It has additionally launched measures to assist mid-career staff above the age of 40 to be taught new expertise in order that they’ll swap careers, or re-enter the workforce.
Singapore needs to develop self-sustaining workforce insurance policies, says Tan See Leng & More Latest News Update
Singapore needs to develop self-sustaining workforce insurance policies, says Tan See Leng & More Live News
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Singapore needs to develop self-sustaining workforce insurance policies, says Tan See Leng & More News Today
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