MOM Singapore: HR News and Update for November 2022

Singapore HR News and Update for November 2022

Singapore Extends Injury Compensation and Pension Benefits to Platform Workers MOM has recently announced enhanced standards and stronger financial protection for food delivery and private hire drivers for companies such as Grab, Gojek and Deliveroo.

According to MOM, workers will receive extended work injury insurance and pension coverage. The new rules will take effect in late 2024.

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MOM Sees ‘Uptick’ in Retrenchments from July to November

MOM has reported a large increase in retrenchments for resident workers of tech companies between July and mid-November. Based on the recent report, 8 in 10 of the affected workers were in non-tech roles.

Half of the firms that retrenched workers have provided career transition services for affected workers. The Taskforce for Responsible Retrenchment and Employment

Facilitation

(RTF)

offered

employment

support

to

affected

employees.

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HR Leaders Reveal Stand-Out Priorities for 2023 Gartner's recent survey of more than 80 HR leaders across APAC revealed the top key initiatives considered for 2023, giving employers clear navigation on how they can be successful in the coming year.

These initiatives include leader and manager effectiveness, organisation design and change management, employee experience, HR technology and strategy and management, and recruiting. According to the report, these priorities are mostly in line with the ones globally, except for a few notable differences.

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Employers in Singapore Called on to Hike Wages in ‘Fair and Sustainable’ Way Amid Inflation Singapore’s National Wages Council (NWC) has called on employers to raise wages for workers amid inflation. However, it recognised that businesses are facing increasing costs and uncertain business prospects, so any wage increases should be “fair and sustainable”.

The tripartite body, comprising representatives from employers, trade unions and the government, set out wage guidelines for lower-wage workers to narrow the

pay gap. To fund wage hikes for lower-wage workers, firms can tap into the Progressive Wage Credit Scheme, which was first introduced in Budget 2022.

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Six Most In-Demand Professions in Singapore for 2023 In the latest Robert Walters Salary Survey in Singapore, results have shown the most in-demand professions in 2023, under the areas of technology and transformation, banking and financial services, commerce finance, human resources, sales and marketing, and more.

The survey also highlighted the main expectations or concerns for the year to come in terms of salaries, career changes and staff retention.

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Useful Readings HR's Guide to Foreign Worker Levy Payroll software Singapore Work Injury Compensation Act: The HR’s Guide HR Solutions: Myths Vs Reality The HR’s Guide to Childcare Leave in Singapore 10 Most Asked Questions About Human Resource Management System Top 9 Reasons Why Companies Invest in an Attendance Management System Singapore Public Holidays 2022

Source website: https://quickhr.co/