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SINGAPORE : The Minister-in-Charge of ageing issues, Lim Boon Heng, has urged companies to start looking into issues related to re-employing older workers.
He said different industries will have different ways of handling human resources, so there is still a lot to be done to make re-employment happen.
With an ageing population, the higher cost of living longer is one challenge. One way to address this is to get Singaporeans to work beyond retirement.
Speaking at a forum of "Aging Successfully in Singapore" on Tuesday, Mr Lim believes the elderly can be meaningfully engaged through work.
Singapore is looking to legislate policies that will enable businesses to re-employ those who are officially retired.
And Mr Lim also believes it makes economic sense to employ an older workforce.
53-year-old Tan Thiam Poh agrees. He lost his job a year ago, but is now self-employed.
"To me, as long as you continue working and have a job, whether you can withdraw at 62 or 65, it doesn't matter. If I don't switch to the insurance industry, I'll be working for other people and there may be some concern because I won't know if I'll still be employed for the next 12 years. So there's uncertainty," said Tan.
"What we can do over the next few years is to see how some companies have successfully negotiated the terms of re-employment and share this with other companies, so that they too can adapt what has been successfully applied by others," said Mr Lim, Minister for Prime Minister's Office.
In cases where there could be unfair treatment for contract workers, for example, Mr Lim said he expects unions to step in. The Manpower Ministry can also play a role.
Besides employment terms, another major concern is health benefits.
A possible solution would be a "portable medical coverage", which means your insurance plan remains the same, no matter where you're employed.
This, Mr Lim believes, will give companies more certainty when paying for an employee's medical expenses.
The minister also assured that there will be flexibility, even when the re-employment law comes into effect in 2012.
"We also have to look at the complexity of the matter because we do have some small companies as well. It may sometimes be impossible for a small company to offer re-employment, so we have to find other solutions... The earlier we start doing this, the earlier we'll know what kinds of issues will come up," said Mr Lim.
For a start, Mr Lim said companies can deploy older workers effectively by looking at their strengths.
Another advice is to use performance-based rather than seniority-based salaries. - CNA /ls
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