A number of top firms have been recognised for their steadfast commitment to developing local talent, earning Human Capital Partner (HCP) status for their efforts.
DBS Bank, Nestlé, and Panasonic were among the 74 companies to pick up the accreditation which seeks to reward employers that invest in Singaporean employees.
To be on the scheme, companies must show a commitment to building a stronger Singaporean core by investing in all employees and must select foreigners who complement local workers, rather than replacing them.
Employers also have to take proactive steps to transfer expertise from foreign professionals, managers, executives and technicians to local staff.
All 74 companies can now look forward to a range of benefits including fast-tracked applications for foreign worker passes and a dedicated hotline to reach the Ministry of Manpower.
Launched last November, the HCP programme is organised by the Manpower Ministry, the Tripartite Alliance for Fair and Progressive Employment Practices, the National Trades Union Congress, and the Singapore National Employers Federation.
Manpower Minister Lim Swee Say was in attendance at the HCP ceremony and said good human capital management is vital to driving a more inclusive economy.
“On our journey towards the future economy, we will, of course, continue to act on unlawful and unfair practices,” he said.
“But more importantly, we want to do much more to speed up the adoption of not just fair, but progressive, practices across all sectors and all sizes of enterprise."