SINGAPORE, Nov. 22, 2024 /PRNewswire/ -- The American Chamber of Commerce in Singapore (AmCham Singapore) hosted its annual Human Capital Conference with the theme 'Skilling Up to Scale Up – Productivity in the Face of Disruption' with Minister for Manpower and Second Minister for Trade & Industry, Dr Tan See Leng at the Bloomberg Office at Capital Square on Friday, November 22, 2024.
In his remarks, Minister Tan said, "US companies have had a longstanding presence in Singapore, and we look forward to strengthening our partnership with the US. Singapore will always be open to foreign workers and global talent who can complement our local workers. Working alongside global talent and in top companies allows locals access to more opportunities to take on challenging assignments and move up in their careers. I am also heartened to see companies embark on initiatives to train their local workforce and encourage more to do so, with the Government's support. Of the companies surveyed by AmCham, at least 70% invest in training and developing their local workforce."
Key findings from AmCham Singapore's 2024 Manpower Survey Results
The AmCham Singapore 2024 Manpower Survey Report, which was developed in partnership with the Center for Creative Leadership, was released at the conference. The survey results had several key insights into the evolving workplace landscape.
Key survey findings include:
- Flexible work arrangements are becoming a cornerstone of inclusive and progressive workplaces, with a steady increase in companies offering this measure. Notably, there has been a significant increase in companies emphasizing family friendly policies by offering parenting support measures such as workplace health programs, parental leave and support for fathers and mothers, and the provision of nursing rooms. AmChamSG member companies are committed to supporting the Tripartite Guidelines on Flexible Work Arrangement Requests, which will take effect December 1.
- Gender diversity is improving at the overall workforce level, but progress in women in senior leadership remains stagnant. Supporting equitable opportunities not only fosters inclusivity but also enhances business resilience and competitiveness.
- Lack of specialized skills continue to be a key challenge to hiring Singaporeans and PRs for senior roles, although progress has been made in this area from entry-level to senior-level roles. Limited exposure to overseas markets and global and regional operations continues to be a significant challenge, emphasizing the importance of international experience for leadership positions based in Singapore.
- Singapore's efforts in strengthening partnerships between educational institutions and industry and reforming school curriculum is paying off. Company optimism about the ability of Singaporean Institutes of Higher Learning to prepare fresh graduates for the workforce is high.
- Sales is the most challenging role to fill locally, followed by Marketing and Tech/IT positions. These challenges reflect the continuing need for re-calibrated and targeted workforce development, such as specialized training programs, upskilling initiatives, and stronger industry-academic collaboration.
Please download the full 2024 Manpower Survey Results from https://amcham.com.sg/wp-content/uploads/2024/11/Manpower-Survey-2024-Final-Nov-22.pdf
Elisa Mallis, Global Vice President of Research, Innovation & New Content Creation, Center for Creative Leadership and Chair, Board of Governors, AmCham Singapore, who delivered the survey results at the conference said, "Our 2024 Manpower Survey Results highlight the dynamic nature of the workforce and the evolving needs of our business community in Singapore. As we continue to navigate ongoing disruption, the findings emphasize the importance of business and government partnering even more closely to find the right approaches that will enable local and foreign talent to meet the challenges and opportunities of the future."
AmCham Singapore CEO Dr. Hsien-Hsien Lei said, "AmCham Singapore is honored that Dr. Tan See Leng, Minister for Manpower and Second Minister for Trade & Industry joined us at our 2024 Human Capital Conference to address critical workforce challenges that are shaping Singapore's economic growth. A skilled, adaptable workforce that evolves with industry needs is essential for sustainable development. Our 2024 Manpower Survey findings reinforce the importance of collaboration between businesses and government to cultivate a talent ecosystem that drives innovation and resilience in Singapore's evolving business landscape."
About AmCham Singapore
Established in 1973, the American Chamber of Commerce in Singapore (AmCham Singapore) is the largest and the most active international business association in Singapore and Southeast Asia, with nearly 7,000 members representing over 650 companies. Our Chamber comprises 12 industry-specific committees: five sectoral and seven functional.
AmCham is a forward-thinking, business-progressive association. Our mission is to create value for our members by providing advocacy, business insights, and connections. Our membership includes American companies and Singaporean and third-country companies with significant U.S. business interests. AmCham is an independent, non-partisan business organization.
Our goal is to provide the information and facilitate the access and connections that give members insight into the local, regional, and global operating environment, enhance their four professional capabilities, and enable them to make well-informed business decisions.
For more information about AmCham Singapore, visit www.amcham.com.sg
