Redundancy: 7 In 10 Singaporeans Don’t Know This Brutal Work Fact

Redundancy: 7 In 10 Singaporeans Don’t Know This Brutal Work Fact

A quick calculation of a poll by the Vulcan Post revealed that even after the Singapore Ministry of Manpower Labor Market Report for Q2 was released, a whopping 71.6% of respondents still cast their vote of confidence that their jobs are invulnerable to changes and disruption. What that also means is that more than 7 in 10 people think that they can keep the same jobs in the next 10 years and that redundancy does not apply to them.

Due to the rise in redundancies, changes in business models, and the bleak market outlook in general, Labor Minister Chan Chun Sing emphasized that HR professionals are now required to perform more than just the role of the ‘mother’ of their peers – they actually need to start motivating and making sure that the staff are well-prepared lest disruption strikes.

“Helping today’s unemployed into today’s vacancy – that’s just level one of your job. Now, you’ll need to also help today’s unemployed into tomorrow’s vacancy, and eventually, tomorrow’s unemployed into tomorrow’s vacancy as well – and that’s the tricky part.”

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As job scopes evolve and industries change, individuals need to look at upgrading their skills and reducing their chances of falling into the redundancy pool. HR managers should also be aware of that to keep their current workforce constantly active and developing as hiring and training new staff may not be the most effective use of dwindling resources.

To read more about the poll and the labor market report, check out the post on MSN.com here

On LOOP.sg, there are a number of courses that can help you prevent this redundancy, either for you or your staff. With these courses, you can learn how to improve the skills of your staff and ensure that they remain competitive in the long run, improving opportunities for them and for the company.

Coaching Career Development

Developing and Coaching Employees

Retaining Your Employees