HR News and Updates | February 2022
Posted on 28 Feburary 2022 in Business | Anna Beatrice
Let's take a look at Singapore's top HR news, updates and insights for the month of February.
Singapore's Firms Showed Positive Growth as They Move Towards Digitalisation
As businesses rely on a digitalized future, they became more confident to face the post-COVID challenges ahead this year.
Based on the results from the Singapore Business Federation's (SBF) National Business Survey 2021/2022, many organizations have experienced increased productivity, optimized operations, and a higher competitive edge through digital transformation.
As a result, companies asked for more support from the Government to pursue business growth through the adoption of technology resources and tools.
Budget 2022 Includes Investments in Digital Capabilities to Drive Innovation and Upgrade the Nation's Workforce
Finance Minister Lawrence Wong said Singapore needs to stay ahead in the race by strengthening the country's digital capabilities. As such, he stated that a total of S$600 million will be set aside to scale up the Productivity Solutions Grant to support more than 100,000 related projects over the next four years.
Aside from this, a new Singapore Global Enterprises initiative will be launched to help local enterprises develop further innovation, internationalisation, and even partnerships with other firms.
We at QuickHR aim to help organizations across different industries to maximise business value by being a pre-approved Digital Solution under the Productivity Solutions Grant (PSG). Find out more about HR Tech government grants you can tap on to pursue your business' digital transformation journey with QuickHR.
Despite Not Reviewing WFH Legislations, MOM Continues to Support Businesses on Flexible Work Schemes
The Ministry of Manpower (MOM) stated that there's no need to rush the legislation over work-from-home (WFH) schemes. According to the ministry, employees experience better work-life balance under flexible work arrangements. On the other hand, employers see the value of it in terms of talent retention and attraction.
Despite shutting down the possible legislation, the ministry said that they will still address the concerns surrounding the hybrid work schemes -- including staff management issues, blurred work-life boundaries and risk of burnout from employees.
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Singapore Expects to Bring 17,000 New Job Opportunities over the Next Five Years
According to Economic Development Board (EDB), Singapore attracted S$11.8 billion (US$8.77 billion) in fixed asset investments last year, which is expected to create over 17,000 jobs over the next five years.
The strong investment commitment figure gave firms the confidence to invest and expand operations in Singapore, providing more job opportunities and ensuring a growing talent base. EDB Chairman Beh Swan Gin also shared the value of vibrant innovation and tech ecosystem in optimising business workflow as well as securing reliability and neutrality over decision-making.
HR Leaders and Employees Are Advised to 'Work Together' as Omicron Threat Looms
In an advisory from the Ministry of Manpower (MOM), HR leaders have been urged to review their business continuity plans (BCP) due to the surge of Omicron cases in Singapore, Employers and employees are warned of the possibility of staff shortage, short-term absences, and other business disruptions especially when an outbreak in the workplace occurs.
The ministry provided a list of measures to be considered as the employers review their BCPs. This includes making changes to the company policies in terms of leave and salary arrangements, such as consumption of paid sick leave, additional paid leave or annual leave.
'Compressed Week': MOM Defines a New HR Trend in Singapore
The Ministry of Manpower (MOM) has defined a compressed work schedule where employees can report to work for a reduced number of days with the same total hours.
The ministry said that in such arrangements, the actual workload and total hours worked in a week don't differ from that of a person on a five-day work week. Therefore, employees don't need to worry about reducing their income in exchange for greater flexibility.
The Tripartite Alliance for Fair & Progressive Employment Practices (TAFEP) explored different kinds of compressed work week for workplaces and provided a list of must-considered guidelines before implementing a compressed work week.
The Role of HR Technology in Pre- and Post-COVID World
Due to the sudden workplace changes, HR leaders had to depend heavily on HR technology with the aim of streamlining critical processes involving employee well-being concerns, compliance and recruiting.
The ministry said that in such arrangements, the actual workload and total hours worked in a week don't differ from that of a person on a five-day work week. Therefore, employees don't need to worry about reducing their income in exchange for greater flexibility.
The Tripartite Alliance for Fair & Progressive Employment Practices (TAFEP) explored different kinds of compressed work week for workplaces and provided a list of must-considered guidelines before implementing a compressed work week.
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