Speech at the Work-Life Conference 2010 "Work-Life Strategy for Higher Productivity and Better Quality Of Life"
Mr Hawazi Daipi, Senior Parliamentary Secretary (Manpower , Health), Resorts World Convention Centre, Sentosa, Singapore
Madam Halimah Yacob,
Deputy Secretary-General, NTUC
Mr Landis Hicks,
Vice President, SNEF
Ms Claire Chiang,
Chairperson, Employer Alliance
Distinguished Guests,
Ladies and Gentlemen,
- Good morning. It is my pleasure to join you here today at the Work-Life Conference 2010.
Work-Life Strategy helps in talent attraction and retention and raising productivity
- In sharp contrast to the anaemic outlook last year, the Singapore economy expanded strongly by 18% in the first half of 2010 and is projected to grow by 13% to 15% for the full year. In tandem with this robust economic growth, we are also seeing a tightening of the labour market, with overall unemployment rate improving from 3.3 % in September 2009 to 2.3 % in June 2010.
- With a tightening labour market and increasing competition for valued employees and talent, the economic recovery brings a different kind of challenge for employers. A Hudson survey of more than 500 decision-makers from multi-national firms earlier this year, found that three out of five firms were prepared to make counter-offers of aggressive salary increases to retain employees when they resign to join another company. However, pay raises alone are unlikely to be an effective long-term solution as employees who stay because of higher pay would leave when the next better offer comes along. Increasingly, employees are looking at the overall package that an employer can offer rather than remuneration alone.
- A separate study by StrategiCom and the Singapore National Employers Federation (or SNEF), on the most important factors firms can offer to attract and retain talent, further illustrates this. Respondents consisting of some 180 graduating students and working professionals listed these factors as being the most important: 1) opportunity for long-term career progression, 2) attractive overall compensation and benefit package and 3) (you can't go wrong) work-life balance. Employers looking to attract and retain valued employees should therefore recognise the importance of work-life strategies in addressing the changing work-life needs of today's tech-savvy, mobile and diverse workforce.
- There is a win-win outcome for work-life strategies to be implemented. An effectively implemented work-life strategy helps employees better meet their work demands and personal needs, which will in turn, benefit the employer as well. From the employee’s perspective, better work-life harmony means less tension between work and personal lives, and a better quality of life overall, resulting in improved ability to perform at their best at work.
- Employers with employees who can better integrate their work and personal lives will also benefit from more committed and engaged employees, who are able to better contribute to their organisations. This is also one way to approach the issue of productivity.
Moving from awareness to implementation
- This is the 5th year that the Tripartite Committee on Work-Life Strategy is organising the Work-Life Conference. Thanks to the commitment and efforts of member agencies and our partners, we are seeing growing awareness and acceptance of the benefits that work-life strategy can bring to organisations and their employees.
- Apart from getting buy-in from CEOs, another challenge in implementing an effective work-life strategy is the need to align the interests of the organisation, the line managers and the employees. I stress the line managers. Often, the line managers and supervisors overseeing business operations are neglected during the implementation process. It is important to convince them about the benefits of work-life harmony and to identify and address implementation challenges and concerns they have. Their support and joint ownership is crucial in facilitating the creation of a work-life friendly culture throughout the organisation. I am glad to note that the Employer Alliance has embarked on an 'Operation Work-Life' programme this year to provide onsite briefings to line managers of interested organisations, to help them better understand the benefits of work-life strategy and flexible work arrangements.
- Many employers and HR practitioners, however, may still be hesitant about implementing work-life strategy in their organisations because they do not know how to go about doing it. The Committee has developed a new handbook titled "Energising Work Culture", with a focus on guiding employers and HR practitioners to devise, implement and evaluate a work-life strategy. You will find a copy of the handbook in the Conference resource pack. The handbook provides suggestions of relevant work-life programmes to cater to the various needs of different demographic groups. Short company features in the book also illustrate how some have implemented these programmes successfully, and evaluation tools serve to help organisations identify gaps in their work-life strategy. I hope you will find the handbook a useful reference.
Conclusion
- Lastly, we have brought together many distinguished speakers today. They are work-life experts, consultants and HR practitioners who have championed the work-life cause in their organisations. They will be sharing with us their knowledge and experience on how work-life strategy could be effectively implemented to achieve better work-life harmony, improve employee retention and enhance productivity. All in all, these will help you as employers. I hope that you will leave the Conference at the end of the day, inspired and better equipped with newly acquired knowledge and resources to implement and improve the work-life programmes in your organisation.
- Thank you.