The year is coming to an end and has your organisation started planning for 2021? In our current climate, many businesses are affected by the pandemic and managing manpower is one of the top concerns.
Join our 20 November SHRI & WSG Employers Connect Webinar: Enhancing Organisation Capability for 2021 to hear our speakers share their advices on enhancing your manpower’s capability for long-term organisation stability.
WSG will also share various support programmes under the SGUnited Jobs and Skills package, as well as programmes and services such as Career Trial and P-Max to aid businesses in 2021.
Be future ready through upskilling/ reskilling
In this interconnected world of constant and rapid change, we have seen how far reaching the implications of a global crisis have on organisations and individuals. Many businesses have had to temporarily or permanently wind up shop; organisations are continuing to have to make difficult decisions about workforce resourcing; even schools and universities have been closed and exams adjusted for; individuals have lost their jobs or been furloughed, while others have seen a dramatic shift in how, and where they work.
Disruption is likely to continue for a period of time and economic instability are expected to be prolonged. While these are certainly challenging times, it also offers us the opportunity to reflect, reset and do things differently. The people professionals are a vital function in supporting businesses to adapt to these rapidly changing circumstances. We need to prepare and ensure that the right support is in place to help mitigate these challenges as much possible. Supporting individuals who have been affected to upskill and reskill so that they can be ready when the economy recovers and organisations to prepare for the future.
Key Learning Points
• Explore how businesses can address your workforce needs through reskilling, upskilling and hiring interventions.
• Create a more agile, adaptive and responsive workforce that will be truly future-ready.
Workforce Management - Alternatives to Downsizing
The economic fallout of COVID-19 has been formidable, businesses have closed while others teeter on the brink of closure. Cash flow has been a major concern as business transactions have slowed to a crawl. Likewise, here in Singapore and as well in other economies, these are major issues that are causing business owners to relook at their cost structure and it’s natural to turn towards their biggest ticket item and most of the time, it’s personnel cost.
These circumstances have forced employers to undertake several cost-reduction/downsizing measures such as layoffs, retrenchment, compulsory leave, early retirement schemes etc. However, before we jump straight into such cost cutting measures, perhaps, business owners should revisit their business & cost models to identify other non-essential spend before considering adopting personnel cost-cutting.
Alternatives to retrenchment includes:
• Business & Cost model management to improve productivity
• Flexible Wage Scheme
• Job Re-Design
•Flexible Work Arrangements
Chartered Institute of Personnel and Development (CIPD) Asia
Kenneth has more than 30 years’ experience in managing businesses across countries in the Asia Pacific. He has held senior management positions with companies who are leaders in their respective industries, including HP, Abacus International and International SOS.
He is currently the Regional Director of CIPD Asia where he leads an experienced team of people professionals to serve and collaborate with CIPD’s members, customers, partners, regulatory bodies and the HR community. His focus is to help organisations maximise their return on investments on people and help elevate the capabilities of people professionals in the region.
Singapore Human Resources Institute (SHRI)
Alvin is an accomplished international senior business manager with over 15 years’ of experience in the financial and consulting industry where he played key roles in various business and human capital transformation projects that has translated to net bottom line growth of USD100 million.
He was part of a task force that had to implement a comprehensive BCP during the SARS pandemic when he was working in Shanghai, China. He saw first-hand how badly it affected the livelihood and mental state of his staff and students.
Alvin firmly believes that a well thought out BCP should go beyond the protection of an organisation’s operations, systems, infrastructure, reputation and business assets and must include the well-being of its people.