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SINGAPORE : Talent management and leadership improvement are the two top urgent challenges for organisations around the world over the next seven years.
This was revealed in a global survey of some 4,700 business leaders in 83 countries. The results were unveiled by the Singapore Human Resources Institute (SHRI) at the start of a three-day HR Congress & Expo on Monday.
With globalisation, companies will have to work harder to keep their best employees. And in a labour-scarce country like Singapore, attracting new blood is also critical.
The SHRI said some jobs, especially those in the services industry, will have to be filled by foreigners. But it will not be at Singaporeans' expense - echoing a point made by Prime Minister Lee Hsien Loong in his recent May Day speech.
Over the next three months, the SHRI hopes to hold dialogues with government agencies, the private sector and industry bodies to address the issue of foreign workers.
Ho Geok Choo, President, Singapore Human Resources Institute, said: "I really hope that the MTI (Ministry of Trade and Industry) would support some of the private sector initiatives... in terms of bringing in foreigners into Singapore to be trained for service jobs.
"(These) could be in tourism, hospitality, or the casinos... train (them) in their language skills, service skills, service mindset and train (them) to be specialised in those areas of needs... (such as) nursing or frontline jobs in hotels."
Minister of State for Trade and Industry Lee Yi Shyan, who was the guest of honour at the event, said that apart from being more flexible about foreign worker policy, employers should tap on some 142,000 economically-inactive residents. These include housewives and older people.
The survey also found that managing work-life balance is another important aspect of talent retention, as employees will increasingly make job choices and sacrifices based on family considerations and a desire for a life outside of work.
Ms Ho said: "One of the things that corporations and the government (can do) is maybe encourage more (people to work) from home. I think we will be able to see more people in the job market; at the same time, we will be able to encourage couples to have children and set up a family."
Researchers have said that companies will also need to manage change, develop effective leaders and invest in training. - CNA/ms
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