SINGAPORE: Companies across all sectors need to continue innovating and transforming, in order to sustain Singapore's economic growth and competitive advantage in the global market, said Minister for Manpower Lim Swee Say.
Speaking at the second Singapore National Employers Federation (SNEF) BeyondSG50 CEO and Employers Forum on Thursday (Feb 16), Mr Lim said: "With a workforce that is growing slower, we face a greater risk of running out of growth capacity, if we are not able to break our manpower bottleneck with pervasive innovation."
At the event, he launched an SNEF initiative called SAPPHIRE that aims to help companies transform into progressive and lean organisations, to achieve sustainable business growth.
SAPPHIRE, which stands for SNEF Agency for Productivity Practices, Human Resources and Industrial Relations, will provide consultancy services and programmes to foster CEO management and human resource partnership in transforming workplaces.
It will aid companies by offering five workplace transformation programmes in areas such as investing in technology or re-employing older workers. The consultancy services, which could last up to 100 hours for each project, will include diagnosis, development of solutions and interventions, as well as measurement of improvements achieved.
Said SNEF president, Dr Robert Yap: "We hope to bring companies along to look at how they can leverage Government incentives and Government grants to help us transform as a company and as an industry. At the same time, we want to ride on a pro-worker environment, where our workers are very open to all these kinds of innovation and changes, which is necessary to be able to take our companies forward."