MOM Opens Registration for Platform Operators: HR News and Updates October 2024
Posted on 01 November 2024 in Business | Suki Bajaj
Let’s take a look at Singapore’s top HR news and events in October, including
MOM Opens Registration for Platform Operators in November
National Campaign Encourages Singaporeans to Prioritize Retirement Planning
Majority Of Employers Dissatisfied with Graduate Hires
Millions of Workers Worldwide Have Not Received Safety Training
Developing Leaders and Managers: A Top HR Priority for 2025
Remote and Hybrid Workers Overlooked for Promotions
MOM Opens Registration for Platform Operators in November
MOM has initiated the implementation of parts of the Platform Workers Bill ahead of its 2025 full rollout. Starting November 1st, companies identifying as platform operators can voluntarily notify MOM through an online form.
Additionally, platform workers born before 1995 can choose to opt for increased Central Provident Fund (CPF) contributions from November onwards, potentially receiving enhanced support.
Platform workers can also start submitting their applications to register for the Platform Work Associations for assessment. Recognised associations will be able to represent platform workers through collective bargaining and other means starting in January 2025.
Read OnNational Campaign Encourages Singaporeans to Prioritize Retirement Planning
The CPF Board is launching a retirement planning campaign to encourage citizens to save for their future.
The campaign, running from October 1 to December 31, 2024, offers tools and resources to help Singaporeans plan for retirement, including personalized advice on saving, budgeting, healthcare costs, and CPF transactions.
This initiative comes as more Singaporeans are prioritizing retirement savings, with a significant increase in voluntary top-ups to retirement accounts in 2024.
Read OnMajority Of Employers Dissatisfied with Graduate Hires
A recent survey reveals that 75% of employers are dissatisfied with their recent college graduate hires. The primary issues cited include a lack of professionalism, poor work ethic, and ineffective communication skills.
Nearly 60% of organizations have terminated these underperforming hires, while another 79% have placed them on performance improvement plans.
To mitigate these challenges, companies should consider implementing mentorship programs and comprehensive onboarding processes to better prepare and support new hires.
Read OnMillions of Workers Worldwide Have Not Received Safety Training
A staggering 62% of global workers have never received occupational safety and health (OSH) training, despite facing emerging workplace risks with nearly 700 million experiencing serious workplace harm in the past two years.
This alarming figure, revealed in the World Risk Poll 2024 Report, underscores the urgent need for effective OSH training particularly in low- and lower-middle-income countries and hazardous industries like fishing, construction, and mining.
Effective OSH training can significantly reduce workplace accidents and promote a safety-first culture, benefiting both employers and employees.
Read OnDeveloping Leaders and Managers: A Top HR Priority for 2025
HR leaders continue to prioritize leadership and manager development in 2025, making it their top concern for the third consecutive year, as managers are often overwhelmed by the expansion of responsibilities and ill-equipped to lead change, according to a recent Gartner report.
Despite significant investments and programme updates, many organisations are struggling to see results from traditional approaches like seminars and lectures.
To address these challenges, it is highly encouraged for HR leaders to shift towards fostering peer connections through networking and team building, enabling leaders to develop the skills needed for both present and future challenges.
Read OnRemote and Hybrid Workers Overlooked for Promotions
A recent study reveals that many flexible workers believe they're being overlooked for promotions and opportunities, particularly among younger generations in management roles.
This trend is concerning as employers risk losing valuable talent by failing to recognise and reward remote contributions.
To retain talent and foster a productive workforce, organisations must prioritize performance over physical presence, offering equal opportunities and development paths to both on-site and remote employees.
Read On