SINGAPORE: An ageing workforce will be a key challenge over the next decade, but “Singapore can prove to be the exception”, says Singapore National Employers Federation (SNEF) president Tan Hee Teck.
In other economies, he noted that ageing populations are often a drag on economic growth.
Singapore has been working on ways to formulate policies that expand job opportunities for senior workers while enhancing workforce flexibility and productivity.
The upcoming Tripartite Workgroup on Senior Employment, for instance, is a timely initiative that will bring the unions, employers and government together to work on solutions that tap the potential and wisdom of senior workers, he said in his May Day message on April 29.
The work group, which will be set up later in 2025, aims to improve the employability of seniors and increase the availability of jobs that better suit their needs.
The work group will start by setting up the Alliance for Action on Empowering Multi-Stage Careers for Mature Workers, which involves engaging employers for ideas and solutions to enhance senior employment.
On the economy, Tan noted that Singapore achieved robust economic growth of 4.4% in 2024, an uptick from the 1.8% expansion in 2023.
“This growth is particularly impressive amidst global economic uncertainties,” he said.
He reiterated SNEF’s commitment in being the voice for employers, supporting them in building more progressive workplaces and ensuring workplace fairness in Singapore.
He added that employers who embrace diversity and inclusion benefit from stronger talent attraction and retention. — The Straits Times/ANN
