Singapore Senior Minister of State for Manpower Zaqy Mohamad recently launched Singapore’s five-year HR Industry Transformation Plan, as he outlined the need for businesses to bolster HR capabilities.
It is against this backdrop that Workday (ASEAN) General Manager Pannie Sia said, “We are greatly encouraged that a HR Industry Transformation Plan (HR ITP) has been launched in Singapore, to strengthen the HR profession and sector. This was announced by Senior Minister of State for Manpower Zaqy Mohamad at the HR Tech Festival Asia on Wednesday. We welcome that the HR ITP will support businesses in growing their HR capabilities and enable HR professionals to stay relevant. This is a crucial and timely initiative, especially in an increasingly competitive global environment.”
To thrive in the fast-evolving world, it is important for companies to have an engaged, productive workforce and HR professionals must play a critical role in being a better strategic partner for businesses to achieve this.
To be effective in doing so, HR professionals must grow their competencies such that they can be at the helm, steering companies alongside the rest of the C-suite to become more inclusive and holistic in the overall business strategy.
For example, more HR leaders must upskill and be able to leverage the power of data and analytics in rethinking talent strategies that can drive business impact.
With skill being the new currency at work, it is also encouraging to know that more will be done to boost skills-based hiring in Singapore, with the development of new HR playbooks to address common or sector-specific HR issues.
“To be a strategic partner to businesses today, HR leaders must take charge of advocating for and practising a skills-based approach towards employment, as doing so will prime organisations to become more competitive and react nimbly amid a dynamic digital work landscape,” she said.
While implementing such changes may seem like an uphill battle to overcome, there are solutions rooted in Artificial Intelligence and Machine Learning that will be key in making the transformation feasible.
These technologies play an invaluable role in providing insights and predictions to align and identify skills with job roles, while creating a workplace culture where workers are given opportunities for skills building and career development.
“By doing so, companies can gain employees who can adapt to workforce disruptions, build meaningful employee experiences, improve engagement, and boost productivity levels for overall business growth,” she said.
