Corporate Wellbeing Asia 2023
Singapore launches 5-year HR Industry Transformation Plan

Singapore launches 5-year HR Industry Transformation Plan

Unveiled on 10 May 2023, the Plan focuses on two key thrusts: building HR capabilities for sector and enterprise transformation, and uplifting HR professionals with relevant skills and mindset.

Singapore's Ministry of Manpower has launched the HR Industry Transformation Plan (HR ITP) today, providing a five-year roadmap to strengthen the HR profession and practices in the country.

Unveiled on Wednesday (10 May 2023), the HR ITP builds on two key thrusts of the 2020 HR Transformation Advisory Panel recommendations, namely:

To build HR capabilities for sector and enterprise transformation through:

  • Digitalising HR
  • Building strategic HR capabilities
  • Implementing progressive practices

On this thrust, Senior Minister of State for Manpower Zaqy Mohamad, who announced the launch of the HR ITP, noted that employers should view HR as strategic assets, or rather as key partners to the success of your business – not just in name, but as partners in your management meetings and boardrooms. "Businesses that have a strong and strategic HR enable them to stay competitive, attract, and grow the right talent to support business objectives, and seize new opportunities.

"A Josh Bersin study with IBM found that companies with strong HR capabilities are 5.5 times more likely to be significantly more profitable than their peers, and six times more likely to be more innovative. Imagine the role of an effective HR, and what you can achieve."

In that vein, to support employers in HR capability transformation, the Ministry is pushing ahead with HR digitalisation. At the operational level, Senior Minister Zaqy shared, HR process automation will lead to time and resource savings; while at the strategic level, the use of people data and analytics can help organisations better plan and align workforce skills and training needs to the business strategy. Among the various initiatives, tools, and resources, the Senior Minister elaborated on the following:

First, to help businesses invest in HR technology, the Productivity Solutions Grant (PSG) has been enhanced to support new HR tech solutions in applicant sourcing & tracking, and rewards & recognition. From 2018 to 2022, about 11,000 PSG applications have been made to adopt HR solutions, Senior Minister Zaqy shared, urging employers who have not signed up yet for the grant to do so. 

Second, MOM’s Workforce Insights Portal hosted on the myMOM Portal provides companies with salary and non-monetary benchmarking insights across industries to help with workforce hiring and retention. Since October last year, companies can also view their performance on firm-related attributes for the Complementarity Assessment Framework (COMPASS).

Third, Workforce Singapore's HR Tech Transformation Programme will continue to support companies in redesigning HR jobs by adopting technology to meet business goals.

Fourth, in the year ahead, a new Job Redesign Centre of Excellence helmed by the Institute for Human Resource Professionals (IHRP) will be set up as a one-stop centre to help companies navigate their job transformation journey, and facilitate access to resources for their job redesign needs.

Other avenues include:

To uplift HR professionals with relevant skills and mindset through:

  • Developing future-ready skills
  • Professionalising HR practices
  • Strengthening local HR leadership capabilities

This second thrust focuses on equipping HR professionals with future-ready skills and mindsets to succeed as strategic business partners and leaders, of which one way is to get IHRP certified, the Senior Minister highlighted.

"[IHRP] Certification recognises the individual’s knowledge and experience as an HR professional. It also provides the individual with access to extensive HR networks and resources, including the latest industry practices and manpower requirements."

Next, HR professionals can expect more curated programmes to support their skills upgrading and leadership development. As shared, IHRP is SkillsFuture Singapore’s appointed Skills Development Partner for the HR sector, and will "proactively identify emerging HR competencies such as in skills-based hiring and career development for employees, strategic workforce planning and flexible work models, and prioritising training in these areas."

Senior Minister Zaqy shared further: "In addition, non-HR supervisors who are often entrusted to do recruitment and support their team’s development should also be equipped with knowledge and competencies on fair and progressive HR practices, including labour legislation. IHRP is therefore looking to develop a new People Manager certification to ensure a standard for their competencies.

In the area of HR leadership development and training, he urged HR to consider taking up the Human Capital Leadership Institute’s HR Leaders Programme, which he noted would prepare top HR leaders for the responsibility to influence strategy, drive transformation and impact the success of your organisation.

"You could also join the SG Leaders Network where our corporate leaders support one another in their professional and personal leadership journey, meet and learn through various events and networking sessions," he added.

Other avenues include:

The full details on the HR ITP can be found here.

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Photo: Shutterstock

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