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Singapore HR news and updates for November 2022

Singapore HR News and Update for November 2022

Posted on 30 November 2022 in Business | Anna Beatrice


Let’s take a look at Singapore’s top HR news, updates and insights for November.

Singapore Extends Injury Compensation and Pension Benefits to Platform Workers

MOM has recently announced enhanced standards and stronger financial protection for food delivery and private hire drivers for companies such as Grab, Gojek and Deliveroo.

According to MOM, workers will receive extended work injury insurance and pension coverage. The new rules will take effect in late 2024.

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MOM Sees ‘Uptick’ in Retrenchments from July to November

MOM has reported a large increase in retrenchments for resident workers of tech companies between July and mid-November. Based on the recent report, 8 in 10 of the affected workers were in non-tech roles.

Half of the firms that retrenched workers have provided career transition services for affected workers. The Taskforce for Responsible Retrenchment and Employment Facilitation (RTF) offered employment support to affected employees.

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HR Leaders Reveal Stand-Out Priorities for 2023

Gartner's recent survey of more than 80 HR leaders across APAC revealed the top key initiatives considered for 2023, giving employers clear navigation on how they can be successful in the coming year.

These initiatives include leader and manager effectiveness, organisation design and change management, employee experience, HR technology and strategy and management, and recruiting. According to the report, these priorities are mostly in line with the ones globally, except for a few notable differences.

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Employers in Singapore Called on to Hike Wages in ‘Fair and Sustainable’ Way Amid Inflation

Singapore’s National Wages Council (NWC) has called on employers to raise wages for workers amid inflation. However, it recognised that businesses are facing increasing costs and uncertain business prospects, so any wage increases should be “fair and sustainable”.

The tripartite body, comprising representatives from employers, trade unions and the government, set out wage guidelines for lower-wage workers to narrow the pay gap. To fund wage hikes for lower-wage workers, firms can tap into the Progressive Wage Credit Scheme, which was first introduced in Budget 2022.

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Six Most In-Demand Professions in Singapore for 2023

In the latest Robert Walters Salary Survey in Singapore, results have shown the most in-demand professions in 2023, under the areas of technology and transformation, banking and financial services, commerce finance, human resources, sales and marketing, and more.

The survey also highlighted the main expectations or concerns for the year to come in terms of salaries, career changes and staff retention.

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