Incentives are HR’s new currency in the finance industry
BANKING AND FINANCE: The Great Resignation continues to cause HR teams in the banking industry headaches, but at least one report says the answer lies in increasing employee “stickiness”. Deloitte’s Becoming an Exponential Enterprise paper, released in November last year, urges relevant HR leaders to design more targeted and differentiated employee benefit offerings. Many incentive […]
Five ways employers can empower women at work
CHIEF OF STAFF FIVE: Diversity and inclusion have become a clear business case for modern organisations. They are no longer seen as advocacies, but as imperative strands that every company must have or strive for, especially as formal regulations to promote the rights of disadvantaged groups become more widely used. In line with International Women’s […]
New system set to make freelance payments between India and Singapore easier
Singapore’s PayNow and India’s Unified Payments Interface (UPI) have been linked, making sending and receiving money across the two countries in real-time possible. This was announced by the Monetary Authority of Singapore on February 23, 2023, and was made in partnership with the Reserve Bank of India. “The PayNow-UPI linkage is the world’s first real-time […]
Paternity leave to be doubled from 2024
The Singapore government will extend the length of paternity leave available for working fathers. This will rise from two weeks to four weeks for eligible working fathers of Singaporean children, born from January 1 next year. “We want paternal involvement to be the norm in our society and we will stand behind all our fathers […]
Majority of working elderly face low wages and full-time hours
Around seven out of ten elderly Singaporean employees earned less than $2,500 monthly last year, the latest data from the Ministry of Manpower has revealed. Over the course of 2022, 31% of Singaporean residents aged 65 or above were still employed in some capacity. Of these, 68.7% earned a monthly income of less than SGD […]
Salary expectations rising amongst graduating students
Singaporean students expect to earn an average annual salary of SGD 50,388 upon entering the workforce, with men’s expectations generally higher than those of graduating women. Universum’s Most Attractive Employers Rankings for 2022 showed that male students expected an annual salary of SGD 54,210 in their first job, while women expected to earn 13% less, […]
Renewed government incentives for employing seniors
As a part of Singapore’s 2023 Action Plan for Successful Ageing, the Ministry of Manpower will be extending its Senior Employment Credit for a further two years. Those who employ senior Singaporeans (aged 60 and above), and provide them with up to $4,000 monthly wages, will be provided with wage offsets. This scheme was previously […]
Government to encourage more inclusive workplaces
Deputy Prime Minister Lawrence Wong says the government is looking into ways for employers to better uphold the revamped anti-discrimination act. “We are taking actions with regard to legislation,” Wong said during the Singapore Perspectives 2023 conference on January 26. “And we will continue to see how we can encourage more employers to uphold not […]
Activities for family top list of requested work benefits
Bring them to work! That’s the top family-friendly benefit Singaporean companies can provide for their employees, according to Jobstreet’s 2022-2023 Outlook for Hiring, Compensation, and Benefits report. According to the research, 19% of Singapore companies currently provide work activities and events that can be extended to employee family members. An additional 25% plan to provide […]
Low wages, understaffing push remaining nurses into long shifts
A shortage of workers is forcing many nursing professionals into taking on dangerously long shifts of up to 12 hours at a time. According to De La Salle University (DLSU) Medical Center employees union president Vilma Garcia, understaffing has made it difficult for nurses to go back to working eight hour shifts. This, in turn, […]
