By Fawwaz Baktee
Both workers and employers need to take a long-term view in overcoming the impact that COVID-19 is creating on the economy.
Employers must make every effort to retain workers and help them through the difficult time, while workers need to make sacrifices such as accepting pay cuts.
Mr Lee delivered his May Day Message on 30 April 2020 on national television. It was also streamed on several social media platforms such as Facebook and YouTube.
“We have used the reserves to save jobs, help companies reduce costs and tide Singaporeans over this crisis … This [the enhanced Jobs Support Scheme] has enabled companies to retain their local employees, but businesses still have other costs to bear. And many workers will still see a pay cut, either because of lost overtime or direct wage reductions. This is unavoidable,” he said.
Mr Lee urged employers not to let go of workers at the first signs of trouble.
“This way, workers will remember and return the kindness, serve loyally, and help the business survive. Companies will also be in a better position when the economy begins to recover,” he added.
The circuit breaker measures will be eased when Singapore brings down its number of new COVID-19 cases, said Mr Lee. However, he warned that restarting the economy will not be straightforward and must be done progressively.
“We have kept essential services going, but the rest of the economy will have to open up step by step, and not all at once. Some industries will open up earlier than others and recover sooner, like those critical to keeping our economy going domestically and those that keep us connected to the world and supply chains,” he said.
Mr Lee said that other sectors such as entertainment outlets and large-scale sporting events would have to wait to reopen.
He added that tourism and aviation would likely take a longer time to recover than other sectors due to the continuing international travel restrictions.
“The road to recovery will be long and hard. We should be under no illusion that all will be well the moment the circuit breaker ends or the number of infections comes down. But we are not a people who shrink from struggle. It took blood, sweat and tears to get here,” said Mr Lee, noting the efforts of the Pioneer and Merdeka Generations that helped Singapore succeed as a country.
Mr Lee also said that the COVID-19 will cause significant changes to the Singapore economy.
“Some industries will be disrupted permanently. Companies will have to change their business models to survive. Some jobs will simply disappear. Workers in these industries will have to reskill themselves to take up new jobs in new sectors,” he said.
With disruption comes new jobs and opportunities and new ways of doing things, he added.
“We have learnt to telecommute with others virtually, students are getting used to online learning, and more people are buying things online and making electronic payments. We will not want to go back to status quo ante after the circuit breaker ends. And that will mean opportunities in these new ways of doing things,” said Mr Lee.
According to Mr Lee, industries such as medical services, biotech, food production and delivery, and IT are growing. He added that the Government will help companies adapt to the new operating environment and retrain workers for new jobs.
"We will scale up SkillsFuture programmes to train workers on a large scale. NTUC has set up a Job Security Council to help match and train displaced workers for new job opportunities. We will also find ways to buffer freelancers in the gig economy against economic volatility. We will not be able to save every job, but we will look after every worker," said Mr Lee.
Mr Lee also assured Singaporeans that the country has what it takes to succeed in a post-COVID-19 world.
“We have experienced economic restructuring before, having done it more than once to get here. We have the resources to support businesses, invest in our workforce and take care of our people. And we have our tripartite partnership, forged over the decades.
“Employers, the Labour Movement, and the Government work closely together in good times and bad. We are bound by ties of loyalty and trust, the comradeship of past battles fought and won together. The tripartite partnership is one important example of how we work together as one nation, protect our vulnerable and leave no one behind,” he said.
Mr Lee also commended essential services workers who have been keeping Singapore going during the COVID-19 situation and thanked migrant workers who have helped build and contributed to Singapore.
“Our healthcare professionals, Home Team, SAF and Manpower Ministry officers; our public transport workers, security officers, cleaners, social service professionals, delivery riders and taxi drivers; our teachers, who have worked so hard to implement home-based learning and preschool teachers too. All of you have made sacrifices and exceeded the call of duty. Your families too, have stood by your side, supporting you. I want to say thank you to all of you,” said Mr Lee.
