Singapore needs to carry on with its restructuring efforts in order to transform the economy to create better quality jobs for Singaporeans.
In his May Day message, Acting Minister for Manpower Tan Chuan-Jin said only by doing this will the country be able to achieve its overall vision of “better workers, better jobs”.
As the labour market is expected to remain tight this year with close to full employment, and the economy growing by up to 4% last year, he said the tripartite partnership must continue to work collaboratively to help Singapore’s competitive advantage.
“As we look forward to meeting the challenges of the future, it is important that Government, employers and unions continue to work closely together towards our common objective of better workers and better jobs, so as to create a better life for Singaporeans,” he said.
A focus on continuous learning and skills upgrading is also necessary in order for Singaporeans to continue lifelong learning to seize the new job opportunities the restructure will bring.
“For the growing pool of our professionals, managers, and executives, we will continue to enhance funding support to help deepen their skills, competencies and career prospects.”
When it comes to low wage workers, Tan made mention of the Progressive Wage Model (PWM) and the Progressive Wage Incentive (PWI) which is helping provide wage-skill and career progression for these workers, and funding support to service providers.
However, Tan acknowledged these changes can be difficult for many employers.
“The Government is fully committed to helping companies transform their existing business models, so that they can create better job opportunities for our workers,” he said.
“We will continue to strongly encourage businesses to innovate and strive for productivity improvements and in turn, raise the wages of our workers.”