To Offer The Labor Force With Better Opportunities | QuickHR

Singapore Enjoys Higher Employment Rate; MOM Continues To Offer The Labor Force With Better Opportunities

Posted on 30 Nov 2018 in Business by QuickHR with 0 Comments


Singapore reaps the benefits of this year’s labor market improvement. The Ministry of Manpower (MOM) provided vital statistics to make the claim plausible. The employment figures are encouraging overall, however, some work still needs to be done to address other members of the workforce.

According to the Straits Times, the year had more employment opportunities for both the young and old. Full-time workers reportedly did enjoy faster income growth, thanks to the improved economy.

MOM reported that the employment rate for those between the ages of 15 and 24 increased to 34.5 percent compared to last year’s 34.1 percent. Also, the unemployment rate is relatively better this year. As for the professionals, managers, executives, and technicians (PMET), their unemployment decreased to 2.9 percent from last year’s 3 percent.

However, the employment rate for workers between the ages of 25 and 64 decreased to 80.3 percent from last year’s 80.7 percent. This is brought about by women leaving their jobs to take care of their families.

Not to leave those 65 years old and above, efforts are also in place to have them employed. There are actions taken to convince those who left the workforce to return. The elders are given options to go back to the workforce if they wish to.

To ensure overall labor force satisfaction, the MOM and Workforce Singapore continues to work with unions, companies, and job seekers to offer better job matches. The coordination and collaboration with different sectors are key to encourage company loyalty and improved employment tenure. It ensures that everyone gets to take advantage of employment possibilities, regardless of industry and age.

Everyone's productive

Singapore is relentless in getting the entire labor force covered. With the employment dips experienced by some demographics (whether by age or designation), government programs are in place to address the issue.

It may not be a monumental drop, however, it still affects a good number of the workforce. As such, MOM continues to offer a smorgasbord of options and new labor directives to constantly improve Singapore’s working condition.

It is encouraging that even the older members of the society are still considered productive contributors to the workforce. They are given responsibilities when others ask them to stay home. While they have the option to do just that, the MOM’s programs continue to convince them to do otherwise. As a result, they enjoy being independent, self-caring and self-sufficient which translate to an even better employment rate for the country.

Not an easy ride ahead

In general, the road to the labor force’s satisfaction entails a lot of work. The ability to sustain a better employment rate (as what Singapore is currently enjoying) is dependent on many factors

More policies require some reviewing and updating. Programs have to be launched to further cover other labor issues that come up. More people are needed to improve current and future processes. International relations, foreign investments and overall review of Singapore’s economy may need to be further strengthened.

MOM's programs are aimed to get the entire labor force covered – to keep them going, protect their rights, safeguard their wages, improve on their skills, and encourage career progression. With its recent directives to cover cleaners, security and other sectors, better statistics may be observed next year. However, it is still early to say.

Visit QuickHR’s website at QuickHR or call us at +65 6908 8158 to know how we can help you streamline and automate your entire HR processes. One of our experts will immediately contact you for more information

OTHER ARTICLES

3 Easy Ways to Improve Employee Motivation
Cloud Tech: The Future of Business
Working Hard by Going Soft
Communication: The Business Way Forward
Positive Stress Management for your Employees
The Best System For All Your COVID-19 Concerns: QuickHR Thermal Biometric Device
Applicant-Tracking-System
QuickHR Modernised Artificial Intelligence On Applicant-Tracking-System11
Timesheet Module
Timesheet Module
System Enhancements
QuickHR – System Enhancements That We Only Have
Challenges and Solutions
Challenges and Solutions to an intricate and complicated HR function
Employee Earnings
Guidelines in Filing Employee Earnings (IR8A) on 1st March
Qualify For Wage Subsidy
Deadline To Qualify For Wage Subsidy Is On 14th January 2019
Cloud-Based HR System
Three Major Advantages Of Switching To a Cloud-Based HR System
Compound And Complex
Compound And Complex HR Issues Solved By Switching To A Cloud-Based HR System
Better Opportunities
MOM Continues To Offer The Labor Force With Better Opportunities
Cleaning Industry
TCC's Latest Ruling Prevents The Existence Of "Divers" In The Cleaning Industry
Security Officers
STC: Security Officers Enjoy Improvement On Promotion Eligibility Beginning Next Year
Cleaners Sector Workers
Cleaners Sector Workers Rewarded For Their Loyalty And Tenure Beginning 2020
Human Resources And Cloud-Based HR Technology
Human Resources And Cloud-Based HR Technology: Formidable Forces To Bring Forth Groundbreaking Work Developments
Performance Appraisal
Performance Appraisal: A Highly Mobile HR Process That Needs To Always Keep Up With The Times
Open Communication
"Speak Your Voice!"Employees Turn Productive Through Open Communication.
Employee Feedback
Employee Feedback Portal involves the entire workforce in business improvement.
Payroll outsourcing
Cloud-based best alternative to payroll outsourcing in singapore.
Reduce payroll processing costs
QuickHR, Solution to effectively reduce payroll processing costs
Optimizing Every Second with HR Automation
Optimizing Every Second with HR Automation
The Evolution of HR
The Evolution of HR: Then and Now
Singapore Clinch
Singapore Clinch Spot as Top Country to Launch Cyberattacks
Onboarding
Onboarding: This Is Why You Should Do It Well
SMEs
Why SMEs Should Support Older Workers in Singapore
Blockchain Is Disrupting Human Resource
This Is How Blockchain Is Disrupting Human Resource
Making Informed Decisions with Timesheets
Making Informed Decisions with Timesheets
7 Ways to Find The Best HR Solution in Singapore: Part 2
7 Ways to Find The Best HR Solution in Singapore: Part 2
7 Ways to Find The Best HR Solution in Singapore: Part 1
7 Ways to Find The Best HR Solution in Singapore: Part 1
Embracing Tech, One Woman at a Time
Embracing Tech, One Woman at a Time
Why Business Should Adopt Encryption Technologies
Why Business Should Adopt Encryption Technologies
Choosing A HR Software for Small Businesses
Choosing A HR Software for Small Businesses