Manpower Minister Lim Swee Say wants S’pore’s future economy to make ‘2/3 + 1/3 > 1’ possible
What the math?
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Did the math throw you off? Don’t worry, we’ll explain.
Speaking during the Ministry of Manpower (MOM)’s budget debate yesterday (Mar 6), MOM Minister Lim Swee Say said that he hoped a new mindset for Singapore’s future economy can be forged.
After explaining how the Fair Consideration Frame has taken action against companies who do not give Singaporeans a fair chance at employment, Lim said that he hoped the action against unfair employers will “reshape the foreign-local mindset for the better.”
2/3, 1/3, what?
The workforce is currently made up of two-thirds Singaporeans while a third is foreign employees.
Moving from the “2/3 vs 1/3” (Us versus Them) mentality to “2/3 and 1/3” working together, according to Lim.
He said that in order to move into the future economy, a new mindset has to be forged – “2/3 + 1/3 > 1”
Confusing? Yes, his math “equations” involve companies committing to do three things:
1. First strengthening the Singaporean “2/3” core;
2. Next to strengthen the “complementarity” between locals and foreign workers; forging a workplace culture that both locals and foreigners complement each other (2/3 + 1/3) and are not working against each other (2/3 vs 1/3);
3. Finally, strengthening knowledge and expertise transfer between both parties (2/3 + 1/3 > 1) to groom promising local executives into regional and global executives.
Using the Human Capital Partnership (HCP) to achieve the impossible math
Lim shared that HCP has partnered 74 organisations which hire over 100,000 workers who are committed to the three commitments mentioned above.
These “progressive employers” span various industries and included MNCs, SMEs, and GLCs, as well as business and social enterprises, according to Lim.
Lim shared that HCP partner organisations enjoy certain perks such as “Fast Lane” access to MOM’s development schemes and resources. While “Slow Lane” organisations that have unfair employment practices will have added scrutiny to work pass applications.