Singapore’s Ministry of Manpower has convened an HR Industry Transformation Advisory Panel (HRTAP), comprising tripartite partners, HR and business leaders, and representatives from the HR services sector.
Building on the HR Industry Manpower Plan, the panel will formulate strategies and lead efforts to further develop the HR services sector in Singapore. It will also propose measures to support HR professionals in walking the tech journey to better enable workforce rejuvenation and business transformation.
The announcement was made by Minister of State for Manpower Zaqy Mohamad who stated that “a strong HR industry will put our businesses and workforce in good stead to navigate their respective transformation journeys. Let us continue to work together to build a strong HR that benefits our businesses and our workers.”
The Minister further added he looks forward to the panel’s recommendations. Citing examples of DBS and Love, Bonito as companies which regardless of size, are benefitting from the solutions offered by the HR services sector, he added that the government would like to see more companies support their HR teams to leverage on HR services and HR tech to augment their capacity for workforce rejuvenation.
“We also need our HR professionals to build up new skills and embrace technology in light of changing job demands,” the minister stated.
The Minister’s remarks come in the light of the fact that HR tech solutions are becoming increasingly accessible and affordable as more investments pour into what is already a USD$400 Bn HR tech industry globally. In Singapore alone, there are close to 200 HR tech firms already receiving about USD$1.4 billion of funding.