MOST bosses believe in keeping their workers beyond the retirement age of 62, but there is still some way to go in getting more to rehire their retirees.
Nearly two-thirds of private sector companies allow their workers to stay on after 62, but the rest do not have any re-employment measures in place, a new Government survey has shown.
The most commonly cited reason for not doing so is: None of their workers have reached the age of 62. But a sizable number of employers have also not thought about this issue, or do not see any need for such a measure.
These findings emerged in a retirement and re-employment practices report which was released by the Manpower Ministry. The ministry polled 3,200 private sector companies which employ over 800,000 workers.
The survey, conducted between last October and December, provides a good gauge of how companies view the issue of re-employment ahead of the legislation that will be put in place in 2012. It will compel companies to offer to rehire their workers beyond 62.
Commenting on the findings, Manpower Minister Gan Kim Yong said: 'We are quite encouraged by the progress of our efforts to improve the employment of older workers... but we must not become complacent.'
- The Straits Times
Showing posts with label retirees. Show all posts
Showing posts with label retirees. Show all posts
Jun 4, 2010
Aug 3, 2009
Portal on hiring older workers
SMALL businesses have been slow to introduce policies to re-employ their older workers.
To hasten the pace, a web portal has been set up by the National Trades Union Congress and the Association of Small and Medium Enterprises.
The portal (www.preparecommunity.com) was launched on Monday.
It shows the steps small businesses can take to get ready in time for the re-employment laws Singapore will introduce by January 2012.
The laws will require employers to rehire their workers when they reach 62. The acceptable terms of re-employment, such as wages and other benefits, are still being worked out.
Unionised companies, however, appear better prepared.
There are around 1,000 of these companies, big and small, and about 70 per cent have made a commitment to implement a system to re-employ older workers.
This was disclosed by NTUC deputy secretary-general Heng Chee How at a National Day observance ceremony today.
But when all businesses here are included, the proportion is dismal.
There are more than 100,000 businesses in Singapore but only 1 per cent have made a commitment to introducing re-employment policies in their companies.
ASME president Lawrence Leow said many SMEs, which make up the majority of businesses in Singapore, may be more focused on tackling the fall-out from the global economic downturn than with getting ready for re-employment.
- The Straits Times
To hasten the pace, a web portal has been set up by the National Trades Union Congress and the Association of Small and Medium Enterprises.
The portal (www.preparecommunity.com) was launched on Monday.
It shows the steps small businesses can take to get ready in time for the re-employment laws Singapore will introduce by January 2012.
The laws will require employers to rehire their workers when they reach 62. The acceptable terms of re-employment, such as wages and other benefits, are still being worked out.
Unionised companies, however, appear better prepared.
There are around 1,000 of these companies, big and small, and about 70 per cent have made a commitment to implement a system to re-employ older workers.
This was disclosed by NTUC deputy secretary-general Heng Chee How at a National Day observance ceremony today.
But when all businesses here are included, the proportion is dismal.
There are more than 100,000 businesses in Singapore but only 1 per cent have made a commitment to introducing re-employment policies in their companies.
ASME president Lawrence Leow said many SMEs, which make up the majority of businesses in Singapore, may be more focused on tackling the fall-out from the global economic downturn than with getting ready for re-employment.
- The Straits Times
Jul 11, 2009
More firms re-hiring older workers
AT 72, electrical engineer Sik Sing still keeps the flour-making machines humming at flour manufacturer Prima Limited.
And when his wife Chye Moey turned 62 last year, the company asked her to stay on as a packing machine operator on a yearly contract instead of retiring.
The couple are beneficiaries of Prima's longstanding re-employment policy, which chief executive officer Primus Cheng said was one which valued the loyalty, experience and contributions of older employees.
The National Trades Union Congress (NTUC) - which wants to see more companies keep older workers on the job - yesterday cited Prima as a model.
It noted that Prima's re-employment offer to those who reach retirement age pre-dates the national effort which began more than three years ago.
At Prima Limited, 23 employees in its 252-strong workforce were re-employed after reaching the retirement age of 62.
Among the oldest is Mr Sik, who agreed to a 20 per cent cut in his pay and 50 per cent reduction in bonuses so he could keep working.
'I've been in this job for almost 50 years now. I can teach the younger ones who don't have experience to slowly take over,' said Mr Sik, who now draws a monthly salary of $2,600.
'If I stayed at home, I wouldn't have anything to do.'
NTUC deputy secretary-general Heng Chee How, who visited Prima Limited's flour-milling factory at Keppel Road yesterday, said there has been no let-up in efforts by the labour movement to get all 1,200 unionised companies to adopt re-employment practices before January 2012.
That is when a law requiring employers to re-hire workers beyond the retirement age of 62 is due to be introduced.
He told reporters that as at the end of last month, 747 unionised companies had adopted re-employment practices - up from 565 a year ago.
More older workers were also being re-employed in unionised firms. Latest figures showed that at the end of last month there were 5,421 such workers - up from 4,639 a year ago.
Re-employment practices were also becoming more established, said Mr Heng, who was accompanied on his visit by NTUC secretary-general Lim Swee Say and other union leaders.
Companies that re-hire older workers in an ad hoc fashion were realising that they must be more systematic and plan for re-training well ahead of employees reaching retirement.
This is so they can cope with the wave of babyboomers who will be turning 62 in the coming years.
He noted at least one-third of unionised companies had yet to commit to re-employment practices.
Some argued that this was because they have a young workforce. Others said they had more pressing concerns, and felt they could address the re-employment issue later.
Some companies also believed that a new set of prescriptions on re-employment would be issued by the Government - and so they would wait for that to happen.
But Mr Heng told them not to wait as there would be no such prescriptions.
He instead encouraged them to be proactive and to come up with arrangements and re-employment practices which suited their specific needs.
Besides the NTUC's efforts, the Manpower Ministry and the Singapore National Employers Federation were also reaching out to the more than 100,000 non-unionised companies - mostly small and medium enterprises - to do the same.
- The Straits Times
And when his wife Chye Moey turned 62 last year, the company asked her to stay on as a packing machine operator on a yearly contract instead of retiring.
The couple are beneficiaries of Prima's longstanding re-employment policy, which chief executive officer Primus Cheng said was one which valued the loyalty, experience and contributions of older employees.
The National Trades Union Congress (NTUC) - which wants to see more companies keep older workers on the job - yesterday cited Prima as a model.
It noted that Prima's re-employment offer to those who reach retirement age pre-dates the national effort which began more than three years ago.
At Prima Limited, 23 employees in its 252-strong workforce were re-employed after reaching the retirement age of 62.
Among the oldest is Mr Sik, who agreed to a 20 per cent cut in his pay and 50 per cent reduction in bonuses so he could keep working.
'I've been in this job for almost 50 years now. I can teach the younger ones who don't have experience to slowly take over,' said Mr Sik, who now draws a monthly salary of $2,600.
'If I stayed at home, I wouldn't have anything to do.'
NTUC deputy secretary-general Heng Chee How, who visited Prima Limited's flour-milling factory at Keppel Road yesterday, said there has been no let-up in efforts by the labour movement to get all 1,200 unionised companies to adopt re-employment practices before January 2012.
That is when a law requiring employers to re-hire workers beyond the retirement age of 62 is due to be introduced.
He told reporters that as at the end of last month, 747 unionised companies had adopted re-employment practices - up from 565 a year ago.
More older workers were also being re-employed in unionised firms. Latest figures showed that at the end of last month there were 5,421 such workers - up from 4,639 a year ago.
Re-employment practices were also becoming more established, said Mr Heng, who was accompanied on his visit by NTUC secretary-general Lim Swee Say and other union leaders.
Companies that re-hire older workers in an ad hoc fashion were realising that they must be more systematic and plan for re-training well ahead of employees reaching retirement.
This is so they can cope with the wave of babyboomers who will be turning 62 in the coming years.
He noted at least one-third of unionised companies had yet to commit to re-employment practices.
Some argued that this was because they have a young workforce. Others said they had more pressing concerns, and felt they could address the re-employment issue later.
Some companies also believed that a new set of prescriptions on re-employment would be issued by the Government - and so they would wait for that to happen.
But Mr Heng told them not to wait as there would be no such prescriptions.
He instead encouraged them to be proactive and to come up with arrangements and re-employment practices which suited their specific needs.
Besides the NTUC's efforts, the Manpower Ministry and the Singapore National Employers Federation were also reaching out to the more than 100,000 non-unionised companies - mostly small and medium enterprises - to do the same.
- The Straits Times
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