Employee reward and benefits news
Employee engagement needed 'to enhance smarter working'
Working smarter rather than harder is the way in which businesses in Singapore can ensure their success in the current economic climate, it is claimed.
However, Hay Group has stressed that any changes to enhance productivity should be made alongside effective employee engagement strategies in order to make them successful, with engaged workers found to be 43 per cent more productive than those who are not.
The company's regional general manager for Singapore and the ASEAN region, Victor Chan, made the suggestion after a report by Hay Group discovered 51 per cent of firms are implementing workflow design to streamline business processes.
He added organisations should "focus on driving workforce engagement to harness the full benefits of their business processes and technology investments".
The survey was based on 451 firms in Singapore and found 42 per cent are investing in enhancing technology infrastructure, while unlocking the potential productivity gains in labour forces was also identified as a possible competitive advantage.
Singapore's Ministry of Manpower recently published details of changes to its Central Provident Fund and Medisave scheme in the form of new minimum sums and contribution ceilings effective from July 1st 2012.
Posted by the Editorial Team