- A restructuring economy
- Finding workers with the right skills, quality, and fit
- Managing cost pressures
“These forces create headwinds and challenges for SMEs to navigate and grow their businesses,” said the minister. He was speaking at the launch Supply Chain and Logistics (SCL) Corporate Network, which aims to develop a sustainable support and sharing platform for organisations across all industries.
Teo said companies can be more profitable, grow quickly, and expand their employee pool with new talent when they innovate their supply chain processes with the fastest and most cost effective means to deliver their products or services.
The cost of training workers is also reduced through development programs and support from Supply Chain and Logistics Academy
(SCALA) and tripartite partners, he added.
For example, SCALA’s Professional Conversion Programme (PCP) for Logistics Officer and Executives supports hiring and training costs by 70 to 90% over a 12-month period. Teo said companies can also receive additional salary support of $700 to $35,000 a month from the Career Support Programme (CSP) when they hire retrenched or unemployed Singaporeans.
“We are seeing more and more PMETs facing challenges with employment, and are encouraging them to go to sectors that are still hiring. The logistics and supply chain sector is one such sector,” said Teo. “It’s about being trained in one function, for that function to be applied across all sectors, not just the logistics sector.”
MOM tightens overtime work exemptions
What’s the “basic issue” of Singapore’s labour market?
Minister of State for Manpower Teo Ser Luck identified HR issues as one of three main “pressure points” currently affecting small-to-medium-sized enterprises (SMEs) in Singapore: