Orient - The Official Magazine of the British Chamber of Commerce Singapore - Issue 66 May 2018 - Page 19
(contd.) SPECIAL COVERAGE: Achieving sustainable workforce growth and building the talent pipeline
skills requirements of each industry and the ability of the workforce today to meet those needs.
During the dialogue, some members expressed concern about the scrutiny of Employment Pass applications for firms on the Fair Consideration Framework Watchlist. The Minister said that this treatment only applied to a small number of companies with indications of unfair hiring practices. Of the approximately 500 (out of 34,500 companies that hire Employment Pass holders) which had been placed on the Watchlist, about 150 companies had since improved their hiring practices and exited the Watchlist. In the same period, over 2000 local professionals were hired by these companies.
Some companies are going beyond the requirements of the Fair Consideration Framework and have adopted progressive HR practices to develop their human capital. They have been identified by the Ministry as their Human Capital Partners. Approximately 140 companies lead the way in fostering a pipeline of strong local talent and have, as a result, been recognised for their investment and efforts.
To support all businesses which require global expertise that is lacking in the local workforce, the Ministry has recently launched the Capability Transfer Programme. In partnership with Workforce Singapore, the Ministry provides financial support and work pass facilitation for businesses that want to transfer global expertise to their local workforce. The Minister gave the example of the precision engineering sector, where expertise was limited in the local workforce and an industry facility had been created to support training delivered by experts based in Germany.
There was open acknowledgment of the importance of continued communication among MOM, employers and workers in order to achieve the required manpower transformation that industries will need in the coming years. The Minister highlighted that at the heart of the Ministry’s approach to building a sustainable and future ready workforce was a commitment to collaborate and engage with the business community and workers, which was aligned with Singapore’s tripartite model. This was a strong message that ended the Minister’s address to Chamber members.
Minister Lim addressed Chamber members and guests at an exclusive event on 5th April 2018. The above article content provides a summary of this dialogue and has been approved by the Ministry of Manpower for release.
For further information on the Chamber’s Leadership, Talent and Professional Development committee which organised this event visit https://www.britcham.org.sg/business-group-details/leadership-talent-professional-development. The Chamber is also hosting a series of events and activities throughout 2018 relating to the Future of Work, visit https://www.britcham.org.sg/static-pages/future-of-work for the latest news.