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Abstract
This paper examines the issues and challenges facing the productivity of an aging society in Singapore. While the older workforce is recognized as an increasingly essential labor supply in the era of rapid demographic aging, there are challenges to the employment of older workers, including employers’ negative stereotypes of older workers and concerns with labor productivity, as the current cohort of older workers in Singapore tends to be less educated, and many are employed in low-skilled jobs. The paper follows with a discussion of the measures adopted by the state to encourage, enable and enhance the employment/re-employment and productivity of older workers. Such measures include the enactment of re-employment legislation, training and financial grants for companies to put in place the re-employment policies, skills upgrading and work training programs to enhance employability of older workers and the promotion of age-friendly workplace. However, under the shadow of an inevitable decline in labor force, productivity growth has become more pertinent, thus an emphasis on innovation, the adoption of flexible work systems, an integrated management strategy catering to a multigenerational workforce and a rethink of the notions of retirement and productivity are necessary for a sustainable society and economy.
Notes
Notes
1. Note that out of the total labor force of 3.03 million in 2009, residents (citizens and permanent residents) made up 1.9877 million (i.e. 65% of the total labor force) (MOM, 2010a).
2. Although there is also a small group of civil servants from certain categories who received the Government Pension Scheme in the form of a non-contributory pay-as-you-go scheme, and certain categories of armed forces personnel who are enrolled into the Savings and Employees scheme, the majority are enrolled in the CPF scheme. See http://www.pensionfundsonline.co.uk/countryprofiles/singapore.aspx (accessed March 25, 2010).
3. Singapore Press Centre speech by Mr Lim Boon Heng, Minister for Prime Minister's Office, at Committee of Supply 2009, 6 February 2009, 3:30 pm at Parliament. See http://www.news.gov.sg/public/sgpc/en/media_releases/agencies/pmo/speech/S-20090206-2.print.html?AuthKey=> (accessed August 19, 2009).
4. Ad-hoc survey on Barriers to Work conducted by the Manpower Research and Statistics Department, October 2006 (cited in MOM, 2008, p. 23).
6. Another important scheme implemented during the economic crisis is the Jobs Credits Scheme provided by the government to encourage employers to keep their workers. In the new Jobs Credit Scheme introduced in 2009, the government helps employers with a 12% cash grant on the first $2500 of each local employee's monthly wage. These initiatives form a part of the government's comprehensive Resilience Package of S$20.5 billion (Keeping Jobs, Building For The Future. See http://app.mof.gov.sg/news_press/pressdetails.asp?pressID=354; see also MOM, 2009).
7. Speech at Singapore Parliament session, 11 March 2010, by Minister of State for Manpower, Mr Lee Yi Shyen. See http://www.parliament.gov.sg/parlweb/get_highlighted_content.jsp?docID=592549&hlLevel=Terms&links=LOW,THIA,KHIANG&hlWords= &hlTitle=&queryOption=1&ref=http://www.parliament.gov.sg:80/reports/public/hansard/title/20100312/20100312_S0004_T0003.html#1 (accessed March 30, 2010).
8. Quoted from speech by MP Zainudin Nordin on 11 March 2010 at Singapore Parliament session. See http://www.parliament.gov.sg/parlweb/get_highlighted_content.jsp?docID=592549&hlLevel=Terms&links=LOW,THIA,KHIANG&hlWords=&hlTitle=&queryOption=1&ref=http://www.parliament.gov.sg:80/reports/public/hansard/title/20100312/20100312_S0004_T0003.html#1 (accessed March 30, 2010).
