New federation set up to fight Singapore's manpower crunch

New federation set up to fight Singapore's manpower crunch

The new Workforce Advancement Federation aims to focus on capability development and labour productivity initiatives to boost companies' competitiveness.

SINGAPORE: In an effort to turn the tide against the manpower crunch, the Workforce Advancement Federation was officially launched at the inaugural Workforce Advancement Summit 2015 on Thursday (Jul 16).

The newly-established federation said it envisions its core objective to be to shape a productive and competitive workforce for the local business community. It aims to focus on capability development and labour productivity initiatives to boost companies' competitiveness.

A Memorandum of Understanding was also signed between the Workforce Advancement Federation and Singapore Workforce Development Agency during the summit. This partnership will help the business community to develop effective HR strategies to attract, retain and groom the best talents, the federation said.

The key areas of collaboration include a monthly workforce champion series, which are interactive CEO engagement sessions on the sharing of best workplace practices as well as Government industry dialogues.

“Basically our whole intention is to help the SMEs (small and medium enterprises) be less reliant on the workforce by increasing their productivity. That is what we intend to achieve, which is upgrading the workforce and at the same time reduce the reliance of SMEs on the workforce," said Workforce Advancement Federation Chairman Chan Chong Beng.

The half-day Workforce Advancement Summit attracted participation from more than 200 business leaders and management executives from the SME community.

Source: CNA/av/xk