The tight manpower situation in Singapore is due mainly to an ageing workforce, low total fertility rate and greater restrictions on the inflow of foreign manpower due to social and political factors, according to the report.(Photo: New Straits Times) Singapore (VNA) – A new Ministry of Ageing, coordinating closely withthe Manpower and Education Ministries, could help the authorities resolveemerging challenges such as the displacement of mature professionals, managers,executives and technicians (PMETs) due to automation.
The new ministry should have a division to mitigate the incidence of ageism inemployment, particularly as PMETs account for more than half of the country’sworkforce, according to a report launched on July 11 by senior research fellowFaizal Yahya from the Institute of Policy Studies.
Discussing the challenges of economic disruption, and Singapore’s strategies toretrain its workers, Faizal said the ministry of aging may be required to covera gamut of concerns from manpower to healthcare.
Tight manpower situation in Singapore is due mainly to an ageing workforce, lowfertility rate, and greater restrictions on the inflow of foreign manpower dueto social and political factors. Greater restrictions placed on the hiring offoreign employees since 2011 have resulted in a growing reliance on localmanpower in an aging workforce, the report noted.
Regarding education, Faizal believed that the process of education is no longerlinear, but a continuous cyclical process that follows industry cycles.Therefore, links between industry and institutes of higher learning should bestrengthened.
To this end, the collaborationbetween Manpower and Education ministries will support the shift in humancapital trends.
If the Ministry of Ageing can oversee the supply and demand for labour, bettercoordination and timely government intervention would help policy-making.
The World Economic Forum projected that 7.1million jobs could be lost globally from 2015 to next year due to disruptivelabour-market changes with the rise of the digital economy, although twomillion jobs would be created in fields such as information technology.
Singapore is placing bets on becoming a smart nation to maintain its role andposition in the region and the world. However, Faizal said that digitaldevelopment strategy must encompass the needs of its human capital to adapt andbenefit from ongoing economic disruption.-VNA
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