To do so, employers can adopt age-friendly practices, and tap on Singapore's Productivity Solutions Grant, and Enterprise Development Grant to support job redesign.
Other than answering parliamentary questions pertaining to Singapore's re-employment situation, as well as retirement savings in the form of Central Provident Funds (CPF) payouts, on 12 January 2022 (Wednesday), Minister of Manpower, Dr Tan See Leng responded to a Parliamentary question on intergenerational teams in local companies in Singapore, that was posed by Member of Parliament (MP) Yip Hong Weng.
MP Yip had asked whether any study has been done on the prevalence of the concept of intergenerational teams in local companies, and if the Ministry will encourage work redesign to build intergenerational teams that leverage on age diversity to bring out capabilities of senior and younger employees.
In response, Minister Tan explained that the Ministry of Manpower (MOM) "does not have data" on the prevalence of intergenerational teams. That said, he highlighted that many studies have shown "it is imperative for businesses to embrace an age-diverse workforce to stay competitive".
To support businesses on that front, the Ministry is "increasing the statutory retirement and re-employment ages" to allow senior employees to continue working if they wish.
"All employers are also expected to adopt fair and merit-based employment practices," Minister Tan added.
Beyond that, the Minister shared that MOM is actively encouraging employers to "adopt age-friendly practices", which include job redesign, to better harness the potential of senior workers.
"Companies can tap on the Productivity Solutions Grant, and the Enterprise Development Grant to support job redesign. Our tripartite partners are also supporting companies’ workforce transformation, such as through NTUC’s Company Training Committees.
"The Tripartite Standard on Age-friendly Workplace Practices further recognises employers for putting in place good age management practices in areas such as selection and hiring, training and job-redesign," he said.
The Minister reiterated that such measures have "helped our senior workers’ employment rate" to remain strong despite the pandemic, and the Ministry will continue efforts to support companies to harness the skills and experience of a diverse workforce.
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