SINGAPORE (Nov 26): Job market disruption, an ageing population and stagnant wages in certain lower income sectors are some of the biggest challenges facing Singapore’s labour market, according to the Singapore Business Federation (SBF).
In this light, SBF will look at providing sustainable employment opportunities for vulnerable workers in a trial that will begin in January 2020, says chairman Teo Siong Seng at the sustainable employment conference on Nov 22.
The initiative seeks to address the needs of professionals, managers, executives and technicians (PMETs) at risk of job displacement.
For instance, a platform will be developed to match these individuals to gig work. With such roles being done on a part-time or freelance basis, the committee is looking to provide support such as accreditation and legal protection.
SBF says the platform will provide these workers most predisposed to retrenchment with more flexibility, while companies will benefit from a bigger network of reliable professionals.
Aside from PMETs, mature workers aged 55 years and above have also suffered the brunt of job insecurity.
With increasing life expectancy in Singapore, SBF is also urging organisations to stamp out age discrimination by promoting inclusive policies. These include redesigning jobs to match the profile, needs and strengths of mature employees.
For instance, the organisation could customise courses for this age group and foster greater interaction between mature workers and their younger colleagues.
As for low wage workers, the SBF is looking to set up an estate management centre to boost employee productivity. The centre will facilitate an aggregation of roles such as in cleaning, gardening and security.
Slated for launch in 2020, it will also see that remuneration for such outsourced essential services be based on performance and not cost. This is to prevent businesses from submitting low quotes when bidding for contracts.
SBF hopes this will provide workers with better career progression along with an increase in wages.
Several businesses, including real estate developer CapitaLand, security services firm Certis Group and urban landscaper Greenology, have come onboard this initiative.
With technology developments, an ageing population and geopolitical uncertainty creating wider inequality, Teo says that businesses have to step up to bridge the gap.
“While the bottom line remains a priority, businesses should also consider the impact they have on their stakeholders within the business ecosystem” he says.
To this end, Teo points out that “sustainable employment will enable Singaporeans to be meaningfully and purposefully employed”.
