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Report On Employment Relations Issues Relating To Aged Worker In Singapore

2017 words - 9 pages

3. Introduction
Singapore was officially renamed as the Republic of Singapore in August 1965 after the separation of the short-lived merger with Federation of Malaya. Between 1960s and early 1970s, high unemployment rate occurs which leads into big economic crisis arise soon after British Government withdrawn their military bases from Singapore (Peebles & Wilson, 2002). The implementation of the industrialisation programme to attract foreign investors’ with incentives to boost foreign investment, revision of the Industrial Relations Act and introduction of the Employment Act had gradually rebuilt the confidence level of the investors.

Hence, by 1980s the unemployment issue was resolved ...view middle of the document...

Hence, they need to work longer; people cannot retire at 55 years and live until 80 or 85 years (Reuters, 2007)

4.2 Decline Fertility Rate
The total fertility rate had decline from 3.5 to 1.4 children per woman from 1965 – 1970 to 2010 – 2015 (International Longevity Centre - Singapore, 2011). Such decline occurs when more people chose to remain single or marry later and having less or no children.

Figure 1. Trends in Total Fertility in Singapore
(International Longevity Centre - Singapore, 2011)

4.3 Ageing Population
With rising life expectancy and decline fertility rates, the proportion of aged resident continues to increases. By 2030, one-fifth of the Singapore population will have 65 years and older people (Tripartite Guidelines on Fair Employment Practices, 2010).

Figure 2. Trends in the Age Group Composition in Singapore
(International Longevity Centre - Singapore, 2011)

4.4 Working Longer
As life expectancy increases, Singaporeans will have to work longer. It’s actually a win-win solution for both aged worker and employers. To return or continue in the workforce benefits the aged worker as they could maintain their healthy and beneficial lifestyle, and able to earn enough to sustain themselves so their retirement saving could last longer as long as they are physically fit to work (Khalik, 2009)

5. Employment Issues in Singapore
There were four main issues that Singapore encountered related to employment relation which includes foreign workers flooding in to take up the job for locals, the impact of investments and labour-intensive industries relocating to other countries, problems associated to privatization of government-linked company and an ageing and shrinking workforce (Tan Chwee Huat, 1996).

In this report, the employment relations related to ageing workforce will be discussed. Singapore is one of the faster ageing populations in Asia with fastest growing ratio of the old and young people. Reports have shown that unemployed aged worker half as likely to get hired (Miller, 2011). Many employers are hesitant to employ aged workers with negative impression as follows:
• Aged workers are often unwilling to change or acquire new skills
• Increase of the insurance and health cost
• Less productivity than younger workers for physical demanding jobs
• Age Discrimination
• Lack of skill set and confidence

6. Strategies used by Government to Assist Aged Worker
In the Budget 2012 announcement, Finance Minister, Mr. Tharman Shanmugaratnam has revealed that there will be a decrease inflow of foreign manpower to build a stronger and more inclusive Singapore (Oon, 2012).

6.1 Reduce Foreign Manpower inflow
The Dependency Ratio Ceiling (DRCs) will be revised to restrain foreign manpower growth from July 2012 and levies would be revised in July 2013, monitoring from this year on the rate of growth of foreign manpower (Oon 2012).

6.2 Re-Employment Act 2012
Re-employment legislation...

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