By Ramesh Subbaraman
The National Wages Council (NWC) has a new Chairman from 2015 -banker Peter Seah who takes over from Professor Lim Pin.
“Professor Lim kept the NWC focused on its goal of improving wage outcomes for Singaporeans and keeping businesses competitive amid a changing global landscape. Some of the key milestones achieved during his time as Chairman include a shift away from seniority-based pay elements towards more flexible incentives and variable bonuses tied to actual business performance, which have helped protect both businesses’ viability and Singaporeans’ jobs during difficult periods,” said a statement from the Ministry of Manpower issued on 13 April 2015.
Recognising Low-Wage Workers
Under Professor Lim’s leadership, the NWC also introduced in 2012, guidelines calling for a minimum built-in wage increase for low-wage workers so as to better recognise their contributions.
This effort has contributed to the strong wage growth of low-wage workers in recent years.
In a separate statement, NTUC Assistant Secretary-General Cham Hui Fong thanked Professor Lim for his strong leadership, noting that he had always been passionate in helping mature and low-wage workers.
“He has always paid close attention to productivity and has nudged employers to do more to ensure wage increases are sustainable. Prof Lim has been a very impartial and understanding leader who listened to all parties and ensured consensus was reached. He ensured there was always a win-win-win outcome for all – employers, unions and the government. These qualities have helped to strengthen and deepen the trust and cooperation between the tripartite partners.”
New Chairman
The new Chairman Mr Seah served as Deputy Chairman for the 2014/2015 NWC financial year.
He is currently the Chairman of DBS Group Holdings and DBS Bank.
NTUC looks forward to working with Mr Seah to improve wage outcomes for Singaporeans and keep the economy competitive.
Quick Look
The National Wages Council will convene in April and May 2015 to develop its annual wage and wage-related guidelines and members of the public can give their feedback on wage guidelines to the NWC Secretariat before 4 May 2015 via mail or email.
The Secretary
National Wages Council
c/o Manpower Planning and Policy Division
18 Havelock Road #07-01
Singapore 059764
Email: nwc_secretariat@mom.gov.sg
Source: NTUC This Week
