Latest news with #TripartiteWorkgrouponSeniorEmployment
Business Times
16-07-2025
- Business
- Business Times
Pilot programmes on the way to match companies with ‘fractional talent'
[SINGAPORE] Upcoming pilot programmes will match employers with 'fractional' leaders – professionals offering C-suite services on a part-time basis – to tackle talent shortages. Companies have shown interest in the fractional work model, said Brandon Lee, assistant chief executive of Workforce Singapore's (WSG) transformation support group. WSG is therefore working with partners – which include employers, industry associations, employment agencies, professional services firms and talent platforms – to develop these pilots. These efforts fall under the Alliance for Action on Empowering Multi-Stage Careers for Mature Workers, an industry-led group formed by the Tripartite Workgroup on Senior Employment. Announced in Budget 2025, the workgroup is studying ideas and piloting initiatives to help senior workers be productive and employable, with fractional work being one of these. Fractional roles are typically filled by mid to late-career professionals who offer their expertise on a part-time basis. These 'fractional leaders' are often part of the senior management team and involved in key decision-making. A NEWSLETTER FOR YOU Friday, 8.30 am SGSME Get updates on Singapore's SME community, along with profiles, news and tips. Sign Up Sign Up Separately, the Institute for Human Resource Professionals (IHRP) has raised the idea of fractional HR services to the Tripartite Workgroup on Human Capital Capability Development, of which it is a member. This is after studying the concept of fractional chief human resources officer (CHRO) services. Under this CHRO-as-a-service model, businesses can engage fractional HR professionals. IHRP deputy CEO Shirley Lim said: 'From a strategic perspective, the fractional model offers compelling advantages for both talent retention and cost optimisation.' The model allows greater flexibility and lets companies access critical talent at lower cost. In recent months, IHRP has been gathering feedback on CHRO-as-a-service – including from employers and professional services firms – and has raised the concept to the tripartite workgroup for discussion. Responding to business needs nimbly Fractional work has gained momentum in Singapore, with around 500 fractional leaders listed in an online directory launched in September 2024. Over the past year, WSG has been engaging stakeholders – such as fractional talent communities and employers – to understand the adoption of fractional work here, its benefits and how to support its growth. The agency has shared the insights gained with the Tripartite Workgroup on Senior Employment – which held its first meeting this July – and the Alliance for Action. 'For employers, fractional work arrangements can help them navigate tight labour markets by providing access to a flexible pool of experienced and skilled professionals,' said Lee. Small and medium-sized enterprises, in particular, are keen to learn how the fractional model lets them access experienced talent pools with manageable costs, he added. WSG and IHRP pointed out that the fractional model also allows companies to respond more nimbly to market changes and changing business needs. Said Lim: 'Companies can quickly scale their leadership capabilities up or down in response to evolving business demands, providing operational flexibility that is increasingly valuable in today's dynamic business environment.' WSG has identified opportunities for fractional work in areas such as HR, finance, marketing and operations management. HR functions are 'well-positioned' to benefit from fractional work, said Lim. This is especially for strategic or project-based HR initiatives requiring specialist knowledge, such as organisational transformation, change management and the design of compensation and benefits. Fractional HR hires can also help sectors undergoing rapid transformation – such as technology, healthcare and financial services – where companies need HR leaders with specific industry expertise or regulatory knowledge, she added. Managing new arrangements EWSG and IHRP said employers that opt for fractional work arrangements must develop capabilities to manage these. Roles filled by fractional talent must be redesigned so they 'are structured for maximum impact and clear deliverables', said Lim. Fractional hires must be integrated with full-time employees to maintain organisational culture, and there must be knowledge transfer protocols for continuity and a smooth transition when fractional arrangements end, she added. Lee noted that as fractional leaders often work for multiple companies at once, employers must address challenges such as potential conflicts of interest, maintaining confidentiality and non-compete concerns.
Straits Times
28-04-2025
- Business
- Straits Times
‘We are making real progress for workers': Tan See Leng in May Day message
Workers' real wages at the 20th percentile have grown faster than the median worker's. ST PHOTO: KUA CHEE SIONG 'We are making real progress for workers': Tan See Leng in May Day message SINGAPORE - Workers in Singapore have made progress and this has come about through the close partnership between the Government, unions and employers that is the bedrock of Singapore's economic progress, said Manpower Minister Tan See Leng. 'We are making real progress for workers – especially those with lower incomes,' he said in his May Day message on April 29. He noted that workers' real wages at the 20th percentile grew by 5.8 per cent – a figure that is faster than the median worker's at 3.56 per cent. 'This reflects years of steady effort through the Progressive Wage Model, Workfare and joint efforts with unions and employers to raise standards in a sustainable way,' he said. He added that Singapore is 'among the first in the world' to provide protection for platform workers. Under the Platform Workers Act, cabbies, ride-hailing drivers and freelance delivery workers now have better legal protection. On workplace safety, he said Singapore's workplace fatality rate in the last five years averaged around 1.1 per 100,000 workers, 'putting us amongst the best in class'. He added that the lowest major injury rate was achieved in 2024 . In his May Day message, he took the chance to thank tripartite partners – the National Trades Union Congress and Singapore National Employers Federation – for their solidarity through the years, highlighting contributions such as the new Tripartite Workgroup on Senior Employment and NTUC Company Training Committee Grant. 'And most significantly, Parliament passed the Workplace Fairness Act earlier this year, reinforcing our stand against discrimination.' He added: 'We must keep improving our workplaces. An engaged and productive workforce begins with workplaces that are safe, fair and inclusive.' Dr Tan, who is also part of the national task force set up to help affected businesses and workers navigate the uncertainties sparked by US tariffs, noted that Singapore's small and open economy will not be spared. 'We face unprecedented trade tensions and a breakdown of the rules-based international order. Major economies have imposed new tariffs, with more retaliation expected.' He added that as disruptions to trade and investments grow, so will the pressure on jobs and incomes. But it is in these times that tripartism and unity must be sustained, to anchor Singapore through uncertainty. Dr Tan said that as 'pressures from respective constituencies' grow, sustaining tripartism – the three-way relationship between employers, unions and the Government – will get harder. Noting that tripartism is the bedrock of Singapore's economic progress, he stressed that this 'foundation matters more than ever'. 'But true partnership is not measured in calm, but in how we hold on through the storm. We must sustain tripartism not because it is easy, but because it works.' Join ST's Telegram channel and get the latest breaking news delivered to you.
