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Straits Times
23-05-2025
- Business
- Straits Times
More can be done to maximise the impact of SkillsFuture in its next phase: PM Wong
More can be done to maximise the impact of SkillsFuture in its next phase: PM Wong SINGAPORE - In a more advanced economy and with a better-educated population, the SkillsFuture movement must do better in curating courses and helping Singaporeans identify those that will benefit them the most, said Prime Minister Lawrence Wong on May 23. Many have benefitted from skills development in the past decade — about one-fifth of Singapore's workforce signs up for training every year, said PM Wong at the SkillsFuture's 10th anniversary event held at Four Seasons Hotel in Orchard. 'We see more businesses sending their workers for SkillsFuture supported training, and some of the leading companies now become SkillsFuture queen bee companies,' he said. But more can be done to maximise the impact of the national skills movement, PM Wong said. He outlined three key areas for improvement: by making it easier for adult workers to access industry relevant courses, ensuring courses are designed with industry needs in mind, and strengthening the culture of learning for life. The SkillsFuture movement was launched in 2015, with the aim to help Singaporeans learn for life, obtain skills to secure better jobs, and grow their careers, said PM Wong, who was attending as guest-of-honour at the event. Minister for Education Chan Chun Sing, Minister for Manpower Tan See Leng, and Minister of State for Education and Manpower Ms Gan Siow Huang were also present. (From left) Manpower Minister Tan See Leng, Prime Minister Lawrence Wong, Education Minister Chan Chun Sing and Minister of State for Education and Manpower Gan Siow Huang at the SkillsFuture's 10th anniversary event on May 23. ST PHOTO: CHONG JUN LIANG From the workforce to businesses, many have benefitted from SkillsFuture, and the movement evolved to include more industry partnerships, PM Wong said. 'We have come a long way in this past decade. We empowered everyone to take charge of their own learning through SkillsFuture Credit. We've put in place a more vibrant learning ecosystem with a wide range of approved courses, many of which are highly subsidised,' he said. 'And we've encouraged companies, including many SMEs, to invest in their workers and workforce transformation.' But there is still much more we can do to maximise the impact of SkillsFuture and take it to 'even greater heights', said PM Wong. The economy is more advanced now, and people have more diverse needs and aspirations, he added. 'As a government, working with our partners, we have to do better at curating the courses, and helping Singaporeans identify the ones that give them maximum benefits and are suited to them,' he said, for example, courses that increase proficiency in artificial intelligence. More than just broad-based skills, training courses of one to two days are provided as part of the Career Health initiative for Singaporeans to support their career, he said. These are across industries, and act as a 'taster'. 'In order to get a substantial injection of skills, we all need to put in time and effort,' PM Wong said, acknowledging that it may not be easy for mid-career workers with families. This is why SkillsFuture will support them with the previously announced credit top-up of $4,000 and monthly allowance of up to $3,000 for those pursuing full-time and part-time courses, he said. The SkillsFuture movement also has to become more 'industry-oriented', said PM Wong, so that courses are designed with industry needs in mind, and businesses will be more likely to invest in training. Employers have concerns about losing their employees after sending them for training, which is why they tend to 'under-invest', said PM Wong. Employers are also hesitant to take up the SkillsFuture Enterprise Credit - a fund for employers who send their employees for training — because they have to pay first and get reimbursed later. He added that awareness of the scheme is also low, which is why it is being redesigned as an online wallet. Each company will get $10,000 online credits to offset any training costs, as announced earlier in Budget 2025. It will be ready in the second half of 2026. The culture of lifelong learning and skills development has to be strengthened, said PM Wong, which requires a 'major mindset shift'. 'Learning is not about cramming for examinations or attaining academic qualifications,' he said. 'Learning is really about continuous improvements throughout life, whether by learning new things, deepening one's existing expertise, or putting in the effort to maximise your potential in everything you do across your life.' Everyone has a part to play, including individuals, employers and trade associations, labour movement and unions, and tertiary institutions and training providers, PM Wong said. 'It is quite a complex ecosystem, which is why, in countries everywhere, no one really has a good model,' he said. 'We are at the vanguard of this, and we have been trying to put together all the different pieces, all the institutions, partners, stakeholders, and fit them all in, align the incentives, get everyone to work together on the same path.' Good progress has been made in the last 10 years, he added, and the Government will continue to do its part as an employer and policymaker. The SkillsFuture movement is a 'key pillar of our refreshed social contract in Singapore', PM Wong said. 'It's a major effort to transform our economy and our society.' 'We have stepped up significantly our investments in SkillsFuture, but there is still much more to do, and we will continue to do more in the coming years together.' Join ST's WhatsApp Channel and get the latest news and must-reads.
Straits Times
16-05-2025
- Business
- Straits Times
Changes to Singapore Economic Resilience Taskforce members possible after Cabinet reshuffle: DPM Gan
(From left) SNEF president Tan Hee Teck, Manpower Minister Tan See Leng, NTUC secretary-general Ng Chee Meng, DPM Gan Kim Yong, SBF vice-chairman Mark Lee (representing chairman Lim Ming Yan), National Development Minister Desmond Lee, Digital Development and Information Minister Josephine Teo and Transport Minister Chee Hong Tat at a press conference by the Singapore Economic Resilience Taskforce in April. ST PHOTO: NG SOR LUAN SINGAPORE – Adjustments may be made to the composition of the Singapore Economic Resilience Taskforce when the new Cabinet line-up is announced, said Deputy Prime Minister Gan Kim Yong. Prime Minister Lawrence Wong is widely expected to announce changes to his Cabinet soon, following the May 3 general election. 'We may need to make some adjustments to the membership because the membership is taken from ministers with a specific portfolio,' said DPM Gan, who was providing an update to the media on the task force's progress on May 16. 'We will probably announce a new composition if there are any changes after the Cabinet line-up has been announced,' he added. Post-election reshuffles typically occur within two to three weeks after the polls. The line-up should be firmed up ahead of the annual Shangri-La Dialogue, which is scheduled to take place from May 30 to June 1. Political observers had told The Straits Times that the upcoming Cabinet reshuffle is likely to be considerable, and could include the promotion of some next-generation leaders to political office. In May 2024, then DPM Wong had said that he planned to rotate the fourth-generation or 4G ministers to different portfolios and give them wider exposure and experience after the general election. The current members of the task force, which is chaired by DPM Gan, include: Minister for National Development Desmond Lee, who is also Minister-in-charge of Social Services Integration; Minister for Digital Development and Information Josephine Teo, who is also Second Minister for Home Affairs; Minister for Manpower Tan See Leng, who is also Second Minister for Trade and Industry; and Minister for Transport and Second Minister for Finance Chee Hong Tat. The other members are: Singapore Business Federation chairman Lim Ming Yan; National Trades Union Congress secretary-general Ng Chee Meng; and Singapore National Employers Federation president Tan Hee Teck. The task force was first announced by PM Wong on April 8, after US President Donald Trump on April 2 announced a 10 per cent baseline tariff on all goods, including those from Singapore. In the latest development, China and the United States have agreed to reduce reciprocal tariffs on each other for 90 days starting from May 14. During this period, the US will reduce tariffs on imports from China to 30 per cent from 145 per cent. Meanwhile, China will reduce tariffs on US goods to 10 per cent from 125 per cent. 'This will allow the two countries to come together, to discuss, to engage, to consult one another and to negotiate for a more amicable settlement in terms of the tariffs,' said DPM Gan. But he cautioned that while the development is encouraging, the outlook remains very uncertain. 'What will happen at the end of 90 days is still a big question. It is something that we will need to continue to monitor and be ready to respond as the situation evolves.' Join ST's Telegram channel and get the latest breaking news delivered to you.
Yahoo
08-05-2025
- Business
- Yahoo
Manpower Expands Educational Offerings with Nursing-Focused Degree, in Partnership with University of Phoenix, Paving the Path to Career Advancement for Healthcare Professionals
MILWAUKEE, May 8, 2025 /PRNewswire/ -- Manpower®, a global leader in contingent staffing and permanent resourcing, and part of the ManpowerGroup (NYSE: MAN) family of brands, is proud to announce the expansion of its educational offerings, now including bachelor's degree programs in Nursing and Education through its MyPath Program. This initiative, in collaboration with the University of Phoenix, builds upon Manpower's existing Healthcare Management program and aims to provide accessible career advancement opportunities for healthcare professionals. Through these full-tuition college programs, eligible Manpower associates can pursue education at no cost—supporting career growth, paving the path to better job opportunities, and unlocking the ability to seek higher earning potential. Meanwhile, Manpower's healthcare clients benefit from meeting the growing demand for qualified professionals and developing a more skilled and versatile workforce. Nimo Shah, Director of MyPath for Manpower U.S., expressed excitement about the launch, stating, "This new Nursing Degree Program with the University of Phoenix comes at the perfect time as we look to recognize and celebrate National Nurses Week [May 6-12]. With the growing need for healthcare professionals, this initiative empowers our associates to advance their careers while strengthening the industry's talent pipeline." The announcement of the new nursing education program follows Manpower's expansion into healthcare staffing after its recent acquisition of a franchise in Ann Arbor, Michigan—an office that has been successfully placing talent in healthcare roles for over 20 years. Additionally, Manpower absorbed its prestigious Joint Commission Gold Seal of Approval for Health Care Staffing, a certification that has been maintained since 2013 and was officially transferred to the corporation last July. Wendy Willford, VP-Specialization for Manpower U.S., also commented on the importance of this initiative. "Our partnership with the University of Phoenix extends beyond traditional healthcare management—it now opens the door to education in high-demand fields for Nursing and Health Administration. Manpower's eligible active talent now have the opportunity to further their education and advance their careers through cutting-edge learning and dedicated coaching." Through this initiative, Manpower U.S. continues its commitment to workforce development, equipping individuals with the knowledge and skills necessary to thrive in a rapidly evolving job market. For more information, visit ABOUT MANPOWER Manpower® is a global leader in contingent staffing and permanent resourcing, providing companies with strategic and operational flexibility and creating talent at scale. Our talent agents and specialized recruiters leverage data-driven insights to assess, guide and place people into meaningful, sustainable employment, and our PowerSuite® tech platform enables assessment and matching to predict performance potential. Our Manpower MyPath® skilling program provides rapid skills development at scale with on-the-job training, market-based certifications, and coaching for roles in growth sectors. In this constantly shifting world, our flexible workforce solutions provide companies with the business agility needed to succeed. Manpower is part of the ManpowerGroup® (NYSE: MAN) family of brands, which also includes Experis and Talent Solutions. For more information about Manpower, visit or follow us on LinkedIn, Facebook, and Instagram. View original content to download multimedia: SOURCE ManpowerGroup Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Straits Times
23-04-2025
- Politics
- Straits Times
From navy chief to a key pillar of PAP's 3G team: SM Teo retires after 33 years in politics
Minister for Manpower Josephine Teo (far left) and Senior Minister Teo Chee Hean (centre) at Safra Punggol for the My Family Fiesta on Sept 8, 2019. PHOTO: LIANHE ZAOBAO From navy chief to a key pillar of PAP's 3G team: SM Teo retires after 33 years in politics SINGAPORE - Senior Minister Teo Chee Hean, 70, is retiring from politics, marking the end of an illustrious career spanning more than three decades. On April 23, Prime Minister Lawrence Wong paid tribute to SM Teo and Deputy Prime Minister Heng Swee Keat, who is also retiring. 'Both are remarkable individuals, giants in the public service with a lifetime of contributions to Singapore and Singaporeans,' he said at a press conference. A former Navy chief holding the rank of rear-admiral, SM Teo made his political debut in December 1992, when he was part of a team that contested and won a by-election in Marine Parade GRC. He quickly established himself as a PAP stalwart, earning re-election six times as an MP for Pasir Ris GRC and subsequently, Pasir Ris–Punggol GRC, which he has anchored since 2001. Minister in the Prime Minister's Office Indranee Rajah has taken over from SM Teo to helm the PAP team in Pasir Ris-Changi GRC, which was carved out of Pasir Ris-Punggol GRC. His first Cabinet appointment was as Minister of State for Finance as well as Communications in 1992. He has also been Minister for Home Affairs, Defence, Education, and the Environment. A core member of Singapore's third-generation political leadership team, SM Teo served as deputy prime minister from 2009 to 2019, and has been Coordinating Minister for National Security since 2011. He was appointed Senior Minister in 2019. From Admiral to Policy Architect As Coordinating Minister for National Security, he strengthened Singapore's resilience against emerging threats, such as terrorism. This includes improving intelligence sharing, strengthening border security, and conducting regular counter-terrorism exercises. He also oversaw the development of robust cybersecurity strategies to protect Singapore's critical infrastructure and digital assets. For example, the Cyber Security Agency of Singapore (CSA) was established in 2015 to protect Singapore's cyberspace. Then DPM Teo Chee Hean speaking in an interview to mark Public Service Week in 2009. PHOTO: ST FILE SM Teo also spearheaded efforts to transform Singapore into a Smart Nation by advancing digital government initiatives and fostering innovation. Launched in 2018, the Digital Government Blueprint (DGB) leveraged data and digital technologies to transform public services, making them more efficient and citizen-centric. This includes initiatives to automate processes, enhance digital infrastructure, and improve the digital skills of public officers. In 2024, Smart Nation 2.0 was announced to enhance digital infrastructure, promote digital literacy, and ensure that technology benefits all citizens. (From left) Ms Valerie Lee, Mr Sharael Taha, Senior Minister Teo Chee Hean, Ms Sun Xueling, Mr Desmond Tan and Ms Yeo Wan Ling at Downtown East on March 22. ST PHOTO: SHINTARO TAY As Chairman of the Inter-Ministerial Committee on Climate Change, SM Teo also championed sustainability efforts, including solar energy deployment and electric vehicle adoption. Under his leadership, Singapore developed comprehensive strategies to address climate change, including the National Climate Change Strategy 2012 and the Climate Action Plan 2016. He also played a key role in the introduction of Singapore's carbon tax in 2019, which aims to reduce greenhouse gas emissions by incentivising businesses to adopt greener practices. Fighting pandemic outbreak One of SM Teo's major contributions was his experience with both Ministry of Home Affairs (MHA) and Mindef, and wielding the authority of being Coordinating Minister for National Security. This was especially evident when the Covid-19 pandemic rampaged through migrant workers' dormitories in 2020. He was tasked to assemble an inter-agency Joint Task Force (JTF) by then Prime Minister Lee Hsien Loong to stem transmissions and protect workers. Cases among workers living in dormitories had jumped from 31 in April 2020 to over 15,000 in May, before more than doubling to 33,000 in June. For much of the year, they made up 19 in 20 cases, and by the end of 2021, over 175,000 out of 323,000 dormitory residents had caught the virus. SM Teo put together a team which comprised the Singapore Armed Forces (SAF), health and manpower ministries, and the Home Team from MHA. The JTF deployed officers to all 43 purpose-built dorms (PBDs) to set up medical facilities, bring in supplies and food, and even ensured that there was Internet access and entertainment for the workers. Doctors and nurses were also sent to each dorm. By the end of the first week of the circuit breaker, which had begun on April 7, all the dorms had been locked down. Workers who tested positive were moved to community facilities, and strict testing and isolation rules were imposed. Senior Minister Teo Chee Hean made his political debut in December 1992, when he was part of a team that contested and won a by-election in Marine Parade GRC. PHOTO: ST FILE Over four months later, all the dorms were cleared of the virus and nine in 10 workers in the construction, maritime and process sectors could return to their jobs. 'Covid-19 was not a mission that our SAF and Home Team had specifically prepared and trained for,' said SM Teo in a national broadcast on Singapore's post-coronavirus future in June 2020. 'But they demonstrated their readiness and flexibility by stepping up to establish the joint task forces (JTFs) within days, to support their MOM and MOH colleagues who were already on the front lines.' He added that the pandemic was the largest and most complex he had encountered in more than 40 years of public service. In a Facebook post, Senior Minister Lee Hsien Loong said: 'Chee Hean was a steady presence in Cabinet and a pillar of strength in my 3G team.' He said he could rely on SM Teo to deal with the thorniest issues sensibly and even-handedly. Whether they were responding to crises like the Covid-19 pandemic, managing complex cross-cutting topics like population policy, or conducting sensitive negotiations with Singapore's neighbours, SM Teo spoke his mind, and never hesitated to express views that were different from his, said SM Lee. 'I always valued Chee Hean's thoughtful reactions to my ideas, his strategic clarity, and sound judgment,' SM Lee added. Respected Interlocutor in Defence Diplomacy As Defence Minister from 2003 to 2011, SM Teo served at the forefront of defence diplomacy through his interactions with international defence leaders. He was a respected interlocutor in defence diplomacy, building close ties with both his Chinese and American counterparts over his tenure. He was a driving force behind the signing of major agreements such as the Strategic Framework Agreement with the United States in 2005, and contributed significantly in building up the annual Shangri-La Dialogue, which has become the premier defence and security forum in the Asia-Pacific. He also oversaw critical upgrades to Singapore's military capabilities to ensure its preparedness in an evolving global landscape. This included the introduction of new fighter jets, naval vessels, and land systems to the Singapore Armed Forces (SAF), and leveraging technology as a force multiplier. As Home Affairs Minister, he spearheaded efforts to boost civil defence and internal security, especially in the wake of rising regional threats. He emphasised the importance of the Total Defence strategy, which integrates military, civil, economic, social, and psychological defence to ensure Singapore's resilience against various threats. In a Facebook post, PM Wong called SM Teo 'a strategist at heart' who brought an incisive mind to bear on complex issues, with a laser focus on effective policies that make a difference. SM Teo was also a statesman who represented Singapore with distinction on the global stage, creating space and opportunities for Singapore internationally, he said. 'His contributions over the years allowed us to resolve complex and long-standing bilateral issues – including the agreements on extradition, airspace and defence cooperation between Singapore and Indonesia,' PM Wong said. 'His leadership has enabled our little red dot to stand tall and proud in the world.' In a 2018 speech at the Singapore Perspectives conference, SM Teo emphasised the necessity of leadership renewal to maintain vitality and energy in governance. 'You don't want a whole nation to be held hostage by the health of a cohort of people who are already senior and are getting more and more senior with each passing year, so you need leadership renewal.' In 2019, upon his transition from Deputy Prime Minister to Senior Minister, he said: 'Senior leaders make way in good time for the next generation, share their experience and help the next generation of leaders to succeed.' Key Appointments May 2019 to Current: Senior Minister May 2011 to Current: Coordinating Minister for National Security April 2009 to April 2019: Deputy Prime Minister May 2011 to September 2015: Minister for Home Affairs August 2003 to May 2011: Minister for Defence January 1997 to July 2003: Minister for Education January 1996 to July 2003: Second Minister for Defence January 1996 to January 1997: Minister for the Environment April 1995 to January 1996: Acting Minister for the Environment April 1995 to January 1996: Senior Minister of State, Ministry of Defence July 1994 to April 1995: Minister of State, Ministry of Defence December 1992 to April 1995: Minister of State, Ministry of Finance December 1992 to July 1994: Minister of State, Ministry of Communications Member of Parliament October 2001 to Current: Pasir Ris-Punggol GRC January 1997 to October 2001: Pasir Ris GRC December 1992 to December 1996: Marine Parade GRC Chin Soo Fang is senior correspondent at The Straits Times covering topics such as community, politics, social issues, consumer, culture and heritage. Join ST's WhatsApp Channel and get the latest news and must-reads.
Yahoo
23-04-2025
- Business
- Yahoo
Is ManpowerGroup Inc. (MAN) The Top Falling Stock with Unusual Volume?
We recently published a list of . In this article, we are going to take a look at where ManpowerGroup Inc. (NYSE:MAN) stands against other top falling stocks with unusual volume. Uncertainty around tariffs and macroeconomic conditions has dented investor confidence, resulting in stock prices falling. While some stocks have come under pressure due to the above two reasons, others have simply followed the market direction or have dipped for company-specific reasons. Regardless of the reasons for stocks going down, falling stocks provide an opportunity for fresh investors to get in at good prices. Once the risks subside, these stocks usually recover quickly as well. We decided to uncover these stocks and see if it makes sense to put money in them to take advantage of the ongoing market turmoil. To come up with our list of top 20 stocks falling with unusual volume, we looked at stocks over $300 million in market cap, their one-week performance, and used relative volume to detect the unusual volume activity. Relative volume compares the daily volume to the three-month average trading volume of the stock, making it easy to detect spikes in volume. These spikes usually signal something important is happening, which, when combined with falling prices, becomes a red flag that investors can't ignore. A business executive in a board room, discussing the career management strategies of the company. ManpowerGroup Inc. (NYSE:MAN) operates as a workforce solutions and services provider. The company offers its services under the Manpower, Experis, and Talent Solutions brands. It also provides administrative, recruitment, industrial, workforce development, and other services. The stock is down 21.04% in a week on a relative volume of 3.57. The firm's stock fell significantly right after the announcement of its Q1 2025 results on April 17. Revenue continues to decline, falling 5% year-over-year on a constant currency basis. In addition to revenue, both adjusted EPS and adjusted EBITA margin also declined significantly. Adjusted EPS saw a 53.4% decline YoY, along with adjusted EBITA margin contraction of 1.3% YoY. This indicates that the company's financial stability is worsening day by day. According to the guidance, there is no major revenue acceleration in the short term, as the management anticipates revenue to continue to decline by 3% to 7% on a constant currency basis in Q2 2025. EPS guidance shows a substantial 47% YoY decline at the midpoint. It seems 2025 is going to be another challenging year for the firm. Overall, MAN ranks 4th on our list of top falling stocks with unusual volume. While we acknowledge the potential of MAN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than MAN but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: and . Disclosure: None. This article is originally published at . Sign in to access your portfolio
