- there are 170,000 SMEs here
- they make up 99% of Singapore's (registered) businesses
- they employ 70% of our workforce
- and contribute to nearly 50% of our GDP
I am part of the national effort to make our SMEs more capable, more efficient, more productive, more progressive - at least in the way they manage their staff, as part of HCS Productivity & Consulting - doing work especially with Spring's Innovation and Capability Voucher (ICV). http://hcs.com.sg/v2/index.php/info/page/hr_advisory
Source: Straits Times
About 12,000 projects were rolled out by SPRING Singapore last year to help some 9,000 small and medium-sized enterprises (SMEs) through various projects aimed at boosting productivity and capturing growth opportunities. When fully implemented, these projects are expected to create S$8 billion in value-add to the economy and around 22,000 jobs.
I am currently consulting for a less than 20 headcount SME with the owner as MD, wife/mother as Admin Manager and son as Marketing Director. Every little bit to help them ensure better human capital practices is a step to better management, better business and hopefully greater sustainability as a growing business and long-term employer.
Source: Straits TimesSingapore businesses ARE making progress, but I sense, not FAST enough to keep pace with business complexity, change, globalization and intense competition. I urge all HR practitioners in SMEs to do the right thing to encourage your business owners to improve and adopt good HR practices - it will BE the foundation of future business growth and innovation - I can almost guarantee it!
SPRING Singapore's ICV Scheme provides two $5,000 vouchers for SMEs to experience the HR Capability Toolkit, which provides the framework to develop the capability of the SMEs to systematically manage six key HR areas:
- Manpower planning
- Recruitment and selection
- Compensation and benefits
- Performance management
- Learning and development
- Talent management
Why not take up the offer?!
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