NTUC Assistant Secretary-General Cham Hui Fong reflects on the Committee on the Future Economy report and what it means for the Labour Movement, the Government, companies and our working people. This commentary originally appeared in The Business Times.
Working people are the building blocks of all organisations that keep companies and government agencies going. Thus when there is a call to change the way we do things for the future of our people and nation, the will, leadership and support of our working people are vital.
The Committee on the Future Economy (CFE) has been convened at a time of great uncertainty around the world. But with every trough of challenges will also come a crest of opportunities.
And it is a trove of opportunities that the CFE has presented to us. Our working people have every reason to feel optimistic because the CFE’s seven strategies aim to help our companies, working people and the economy be even more competitive for the future, starting now. The Labour Movement, too, is excited.
As consumer demand, industry and business models change, our working people need to keep learning and upgrading to stay relevant. They must be aware of the latest developments, understand the world beyond Singapore, build their capabilities and take on opportunities to upskill themselves or switch careers.
It is also critical for them to learn faster, learn more and learn deeper to stay relevant in their employment. The ability to understand the world beyond Singapore and to build up skillsets relevant to the world will become critical to our working people as internationalisation becomes more prevalent.
Our working people need to be adaptable and be prepared to work in multinational and international teams so that they can leverage and complement the strengths of others for the success of their companies.
With the evolving demographics of our workforce, we need to be cognisant of the challenges faced by different worker types and age groups in adapting to these changes. We must make sure that we do not leave behind any vulnerable groups, such as low-wage workers, older workers, back-to-work mothers and so on.
As we focus on growing the pipeline of new entrants into the economy, we must not forget that those currently in the workforce need to be nurtured too. Both current and future working people must be retooled to help them embrace jobs of the future. Everyone must be given the chance to realise their full potential and move up the economic ladder.
While most people are aware of the constant economic and industry changes, they may not be familiar with the new jobs created and new skillsets they need in the ever-changing global economy.
What is important is for our working people, including employers, to understand the CFE strategies and the context in which these were made; the partnerships that companies and the government can form to create high-value products, services and job opportunities; and the role that working people can play.
The Labour Movement will work closely with the government and companies to convey to working people the challenges our industries face, the jobs that will be created and the skills required for these jobs. For example, the Labour Movement, together with the tripartite partners, is mapping out the Industry Transformation Maps (ITMs) to transform jobs and industries.
By doing so, we can ensure that there is enough information sharing and feedback on the ground to enable all working people to appreciate and understand the changes taking place and to take proactive steps in identifying training gaps, if any.
We need to find ways to excite the workforce about the jobs of the future and tool them with the skills to embrace these jobs. We hope employers will do the same.
What we want to see as outcomes of the CFE strategies are good career growth and good sustainable wages for our working people. As the workforce ages and shrinks, we must continue to look at new ways of doing things. Our companies need to stay innovative, productive and connected.
We hope that they will be ready and proactive in identifying new opportunities, exploring new fields, taking on new challenges, strengthening their working people’s skillsets, and forging stronger partnerships with government agencies and other organisations.
These are important steps for our companies because driving innovation, value creation and productivity will help open new markets for our working people and ensure they can remain gainfully employed for a longer time.
While the government, Labour Movement and companies play more active roles in growing the economy, our working people too must do their part to reach greater heights.
They must be resilient during difficult times and must be prepared to expand their capabilities and learn new skills to remain relevant in the new economy.
This, in turn, will help companies build their capabilities and scale up for the future. Let us all grow together as one Singapore, so that we can embrace the impending changes and face the challenges ahead.
Cham Hui Fong
Assistant Secretary-General, National Trades Union Congress and Member, Committee on the Future Economy
This article was first published in The Business Times on 16 February 2017
