Piggy Gan : Keeping older workers a win-win

[Ripley]

Home > Breaking News > Singapore > Story
Nov 16, 2009
Keeping older workers a win-win <!--10 min-->
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CONTINUED employment of older workers is a win-win outcome as it means productive deployment of limited manpower resources in Singapore, Manpower Minister Gan Kim Yong said on Monday.

Explaining why the Government is pressing on with legislative changes to introduce re-employment of older workers by 2012, Mr Gan told a seminar on Monday morning: 'If we can help more older workers stay in the workforce, it will enable them to remain active, earn a regular income, contribute to society, and better prepare for a more comfortable retirement. This will also benefit the companies as they can continue to tap on the experience and expertise of older workers as a valuable resource.' Mr Gan said by 2020, more than one in three Singapore residents will be 50 years older. At the same time, life expectancy continues to improve: Someone retiring at 62 today can expect to live for another 20 years or more.

Preliminary results from a Ministry of Manpower's comprehensive mid-year labour force survey shows that the employment rate for older residents aged 55 to 64 in Singapore is 57.2 per cent. This is unchanged from 2008, despite the severe recession which saw the overall employment rate for those aged 25 to 64 fall from 77 per cent in 2008 to 75.8 per cent this year. Mr Gan said initial response and feedback from employers and unions to the tripartite advisory on the reemployment of older workers in April last year has been positive. An MOM survey done last year showed that more than nine in 10 companies, or 94 per cent, which do not specify a retirement age allow their employees to continue working past the statutory retirement age, while nearly two-thirds (65 per cent) of companies which do stipulate a retirement age offer reemployment or allow employees to continue working beyond the statutory retirement age of 62.

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<table class="Post" style="width: 100%;" cellpadding="0" cellspacing="0"><tbody><tr><td style="vertical-align: top;" align="left">Finally... it is no longer just lip service.
</td></tr><tr><td style="vertical-align: top;" align="left">Posted by: Misnomer at Mon Nov 16 14:45:52 SGT 2009



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[Ripley]

Payment if can't be rehired

Home > Breaking News > Singapore > Story
Nov 16, 2009
Payment if can't be rehired <!--10 min-->
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The guidelines said employers should consider all available re-employment options within their organisation and identify suitable jobs for eligible employees. -- ST PHOTO: SHAHRIYA YAHAYA
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EMPLOYERS should offer a one-off Employment Assistance Payment (EAP) if they are unable to find suitable jobs for eligible older workers when the new law kicks in in 2012.

<table valign="top" align="left" width="200"> <tbody><tr><td class="padr8"> <!-- Vodcast --> <!-- Background Story --> <style type="text/css"> #related .quote {background-color:#E7F7FF; padding:8px;margin:0px 0px 5px 0px;} #related .quote .headline {font-family: Verdana, Arial, Helvetica, sans-serif; font-size:10px;font-weight:bold; border-bottom:3px double #007BFF; color:#036; text-transform:uppercase; padding-bottom:5px;} #related .quote .text {font-size:11px;color:#036;padding:5px 0px;} </style> How Employment Assistance Payment should be paid
THE amount of EAP should be guided by the following principles:
There should be a minimum EAP amount to help the low-wage workers as they may have greater difficulty seeking alternative employment and could be adversely affected if they are not re-employed.

To moderate the financial burden on employers and to prevent the EAP from encouraging employees to stop working, there should be a maximum amount for EAP.

... more​

</td></tr> </tbody></table> This is to tide these employees over a period of time while they look for an alternative job. The amount of payment should be based on certain principles set in the draft tripartite guidelines for re-employment of older workers released on Monday. The guidelines said employers should consider all available re-employment options within their organisation and identify suitable jobs for eligible employees. Employers who cannot find suitable jobs for eligible employees should inform their employees as early as practicable.

'Employers should recognise that re-employed employees are an integral part of the organisation. They should, where appropriate, continue to reward re-employed employees based on company and individual performance in the form of performance bonuses, long service benefits, gain-sharing incentives or one-off bonuses,' said the guidelines. 'This recognition will help to incentivise and motivate these employees to perform well.'
On examples of employees who might not be suitable for rehiring, the guidelines say it would be more difficult for employers to re-employ senior management staff due to the need to facilitate leadership renewal and organisational change. As these senior management staff have more options than other employees, the EAP would be an appropriate alternative if re-employment is not feasible.

For such workers, employers are also encouraged to provide out-placement assistance to help eligible employees whom they cannot re-employ find alternative employment.

 

[Ripley]

Draft on rehiring past 62

Home > Breaking News > Singapore > Story
Nov 16, 2009
Draft on rehiring past 62 <!--10 min-->
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'The discussion should cover the relevant training the workers may need, as well as any adjustments in job role, wage and benefits,' Mr Gan said. -- PHOTO: ZAOBAO
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PROPOSED guidelines on how employers should go about hiring those beyond 62 years are released for public consultation in the next few weeks, ahead of a new law that will come into effect in 2012.

<table valign="top" align="left" width="200"> <tbody><tr><td class="padr8"> <!-- Vodcast --> <!-- Background Story --> <style type="text/css"> #related .quote {background-color:#E7F7FF; padding:8px;margin:0px 0px 5px 0px;} #related .quote .headline {font-family: Verdana, Arial, Helvetica, sans-serif; font-size:10px;font-weight:bold; border-bottom:3px double #007BFF; color:#036; text-transform:uppercase; padding-bottom:5px;} #related .quote .text {font-size:11px;color:#036;padding:5px 0px;} </style> Key points in draft guidelines
THE draft Guidelines provides practical advice on good re-employment practices, and includes the following:

Give employers the flexibility to employ and retain older workers beyond the minimum statutory age of 62;

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TRIPARTITE GUIDELINES ON THE RE-EMPLOYMENT OF OLDER EMPLOYEES
<!-- Photo Gallery --> </td></tr> </tbody></table> Minister for Manpower Gan Kim Yong said the draft guidelines will be finalised early next year and will serve as a reference guide to help companies understand reemployment, offer practical solutions to help them put in place the necessary systems and processes, and ultimately set the norms for re-employment. Mr Gan said the guidelines provide flexibility to both employers and workers in terms of job scope and terms of employment, and will help companies retain their experienced workers and allow them to continue working beyond the retirement age.
Speaking at at seminar on 'Building a More Inclusive Workforce in a Cheaper, Better, Faster Economy' on Monday morning, the minister urged employers and workers to engage each other early in the re-employment process, pointing out that hnder the draft guidelines, companies are encouraged to discuss possible reemployment options with employees a year before re-employment.

'The discussion should cover the relevant training the workers may need, as well as any adjustments in job role, wage and benefits. On the part of the older workers, they need to keep their skills and expertise up-to-date and proactively participate in discussions on their re-employment plans,' said Mr Gan.
'Given the experience, expertise and good performance of older workers, employers should see them as valuable contributors to the organisation and integrate re-employment processes as part of the HR system.'
He also urged firms to implement a performance-based wage system as 'employers with older workers need to remain nimble and competitive, especially given today's volatile business cycles.'

 

[popdod]

But local SMEs companies feel elderly employees r liability...
With more young, talented ah tiongs....who need elderly employees?

:o :( :o

 

[Watchman]

Old workers ought to be retired by now !