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Human Resource Management In Singapore By Talha Lodhi
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Human Resource Management In Singapore By Talha Lodhi Presentation Transcript

  • 1. HR POLICIES
  • 2. SEQUENCE  EMPLOYERS  CHALLENGE AT THE TIME OF INDPENDENCE  THE SOLUTION  IMPORTANCE OF HR  PUBLIC SECTOR EMPLOYEES  SALARIES IN SINGAPORE  PERFORMANCE BASED PAY  TRAINING PROGRAMS  KNOWLEDGE-BASED ECONOMY  WORK-LIFE BALANCE
  • 3. EMPLOYERS  Of the 3.75 million Singaporean, workforce comprises of about 2.75 million.  Civil Service, the largest employer.  Employs approximately 67 thousand people.  More than 8000 MNC’s as employers in Singapore.  Government imposed quotas over ratio of foreign to local workers in a company varying from sector to sector.  Average ratio is 65:35
  • 4. CHALLENGE AT THE TIME OF INDPENDENCE “How to create jobs for a non-cohesive nation with massive unemployment, lacking in basic educational and technical skills,, with nil natural resources, and no industrial sector to support its economy??”
  • 5. THE SOLUTION  Cashing on Labor-intensive foreign investment.  Key to raising jobs.  For Singapore lacked skills, knowledge, finances.  Guaranteed global market for the products resulting from the FDI of such MNC’s.  Singaporeans in Private sector;  Half of the Singaporean workforce is working directly for MNC’s  and the rest are associated with SME’s which are in turn catering to MNC’s. Cont’d….
  • 6.  Human capital, Considered a major asset of a company.  Knowledge based Economy.  Financial growth and investment does not usually translate proportionally to job market.  Pivotal factor is investment;  “ Do you have good workforce in your country”. – Siemens CEO.
  • 7. IMPORTANCE OF HR  Company’s HR policies must align with its business strategy.  HR must lead the change process  by bringing in people with new and innovative ideas.  FDI in a country does not guarantee a job to the locals,  HR management policies does.  “Agelion” of HP, an example.  20% Singaporeans employees.  80% Foreign workforce.
  • 8. PUBLIC SECTOR EMPLOYEES  Public Service Commission created to ensure recruitment  Based on meritocracy, not patronage.  Hefty salary packages being offered.  Ranges from 200 thousand SD to 1.2 mil per annum.  From Grade IV to Grade I Officers.  Majority, selected at the time of graduation from high schools.  Awarded scholarship for higher education abroad.  A 5-7 year job bond is signed beforehand.  Officers attain their final rank by 45 years of age.  New governmental policy.
  • 9. SALARIES IN SINGAPORE  Per capita income is 46,832 SD.  Public Sector Salaries at par with Private Sector.  Hefty bonuses  Corporate sector pays 4-6 months pay  Civil service does the same for 1-3 months pay.  High saving rate thanks to CPF.  10 to 20% pooled in by Employer.  15% by Employee.
  • 10. PERFORMANCE BASED PAY  A noble concept to enhance performance on reward basis.  Applicable in both Public and Private sector.  Three tiers of performance;  Individual worker  Team based performance  Company level performance  Singaporean government has launched a new pay-scale.  Based on Pay to Performance Based Pay ratio.  Lower cadre employees; 70:30  Mid cadre employees; 60:40  Higher or Executive cadre employees; 50:50
  • 11. TRAINING PROGRAMS  Currently government is running a talent enhancement program named “SPER” with a pool of 1.5 billion SD.  90% employees’ training born by government.  Government pays about 300 SD to companies for employee retention during a recession  Sharing the company’s burden of employee pay.  Government ensures every laid off employee in a recession upgrades his or her skills.  Bonds and Promotions for the employees are offered as an incentive for ensuring talent retention.
  • 12. KNOWLEDGE-BASED ECONOMY  Singapore lacks Natural Resources.  Trained and equally qualified human capital, an attraction for investors.  Primary reason for the focal shift towards Knowledge Based Economy.  Philippines as a comparison.  A country rich with natural resources but lacking the human capital to utilize them effectively.  Under-developed.  Plagued with corruption and mismanagement.
  • 13. WORK-LIFE BALANCE  An issue of extreme social concern.  Extended working hours make family life complicated.  Average marriage age for males is 32 and for females 31.  Government encouraging marriages and setting up of a family.  HDB house for married couple with no age restriction.  Unmarried person can apply at 35 years of age.