SNEF backs productivity—led growth strategy in White Paper

SINGAPORE: The Singapore National Employers Federation (SNEF) said under the projections mapped out in the White Paper on Population, it expects the contribution of productivity growth to GDP growth to increase to two—thirds from 2010 to 2030.

This is up from the one—third contribution of the past decade.

SNEF said it supports this productivity—led growth strategy as it will sustain business competitiveness and help lift wages to meet the rising expectations of Singaporeans.

It added: "As highlighted by the White Paper, two—thirds of Singaporeans would be in PMET jobs by 2030. This calls for higher—skilled jobs which will help raise productivity. Employers need to restructure and create jobs that match the better qualifications and skills of PMETs, and better manage and motivate them to achieve higher output per employee.

"The federation concurs that more has to be done to restructure low—wage, low—skilled jobs to share the benefits of a growing economy with the one—third of the Singaporean workforce in non—PMET jobs. In this respect, SNEF supports sector—specific measures to raise the skills, employability and incomes of low wage workers."

SNEF explained that while companies can aim to raise productivity by as much as possible, workforce growth is still needed to enable businesses to expand and workers to have more and better job opportunities. And without additional foreign workers to support economic growth, Singapore would lose the dynamism and vibrancy in the economy.

SNEF cautioned it would be concerned over any further curbs on foreign manpower. It also said that new proposals to further slow down the workforce growth to 0.6 per cent per annum from now to 2020, which meant zero growth in the foreign workforce, will have dire consequences for businesses, new investments and jobs.

The employers’ body also warned that the proposal implied no additional foreign construction workers to build new infrastructure and no new skilled foreigners for new investments and to spur new industries, which will create new and better job opportunities for Singaporeans.

SNEF also supports more age—friendly and family—friendly workplaces for older workers and women to boost the shrinking workforce.

added that the employers’ collective and decisive response will assure their tripartite partners —— the government and the labour movement —— that employers are partners in creating an environment in which businesses can thrive.

Singaporeans can also achieve their career aspirations and the nation can continue to be a globally competitive and dynamic economy.

—CNA/ac