Singapore HR News and Updates for February 2023
Posted on 27 February 2023 in Business | Anna Beatrice
Let's take a look at Singapore's top HR stories and insights and MOM Latest News for February 2023.
Everything You Need to Know Singapore Budget 2023
MOM recently made some big announcements about Budget 2023, including updated CPF rates, more support for working parents, improved benefits for senior employees, and enhanced workforce training support. This year is set to bring a more robust support system for all organisations and employees.
Read OnSingapore to Hike Wages of Food Services Workers in March
According to MOM, food services workers in Singapore will see their wages increase over the next three years starting March 1. Employers and HR managers will be given six months — from March to August 31, 2023 — of preparation time to adjust and comply with the wage requirements.
The wage hike will cover about 26,000 full-time resident employees in food services-related job roles, as well as about 15,000 part-time resident employees. MOM also stated that non-compliant employers after the transition period may have their work pass privileges suspended.
Read On15 Companies Temporarily Barred from Hiring Foreign Workers
In a recent report, MOM prohibited fifteen companies from hiring new foreign employees for up to three months, to tackle rising workplace fatalities.
The companies were found to have workplace safety and health (WSH) lapses after serious or fatal workplace incidents during the six-month heightened safety period which was imposed in September 2022.
The intervention is in place until the end of February, and the Ministry of Manpower (MOM) is considering an extension of the heightened safety period.
Read OnMOM Condemned Ageist Job Ads
MOM Latest News - MOM has condemned job advertisements that discriminate against candidates based on their age. According to MOM, employers and HR managers are expected to comply with the country's Tripartite Guidelines on Fair Employment Practices (TGFEP), which outlines the standards of fair and merit-based employment.
MOM said it is carrying out regular surveys to measure the prevalence of workplace discrimination faced by employees and jobseekers.
Read OnMOM Does Not ‘Arbitrarily’ Adjust Number of EPS, S Passes Issued amid Job Market Fluctuations
Due to the recent concerns arising from the recent layoffs across global tech companies, MOM proclaimed strong assurance that they don't intervene with the labour market by adjusting or reducing the number of work passes.
MOM stated that adopting such a protectionist measure would cause significant business uncertainty, and undermine Singapore’s reputation as a transparent, competitive, and reliable location for businesses.
They also shared that they have a comprehensive suite of measures in place to attract more investments and create more jobs and career choices for local workers.
Read OnMore Employees in Singapore Working beyond Retirement Age
According to MOM's latest survey, majority of Singapore residents aged 65 and above are employed and taking on full-time roles. MOM shared that this figure is high when compared to other countries in the Organisation for Economic Cooperation and Development (OECD) and can be attributed to the high life expectancy of Singaporeans.
To encourage organisations to hire more senior employees, Singapore is extending a scheme that provides wage offsets for employers who hire Singaporeans aged 60 and above earning up to $4,000 per month, from 2023 to 2025.
Singapore is also considering an increase in its retirement and re-employment ages to 65 and 70 years old, respectively, by 2030.
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