Profile
We are a group of fun loving retail students using the little technology to journal what we will be discovering about the wonders of retailing. Based on the retailer we had chosen, we will provide readers with our findings and how this retailer operates its business. Ding Li
Regina
Mei Mei
Shree
Jun Jie
Tag
Links
Layout: vehemency
Icon: reruntherace
Monday, June 8, 2009, 6:48 AM
HR practices
The 3 unique HR practices in Singapore Human resource management (HRM) is the strategic and coherent approach to the management
of an organization's most valued assets - the people working there who individually
and collectively contribute to the achievement of the objectives of the business.
3 HR practices by NTUC
*Wage restructuring
Keeping wage costs competitive would retain jobs
A flexible wage system would allow companies to respond more quickly to changes in
business conditions, mitigating the need to retrench.
There are three main aspects of the wage reform.
The first is to moderate the system of seniority-based pay, under which an older
worker receives significantly more than a younger worker for doing basically the same job.
The second is to link wages more closely to the performance of the individual worker.
The third is to link wages to the profitability of the company and to business conditions.
Performance bonuses typically make up only a small part of the total pay package.
*CPF Reforms
Our Central Provident Fund (CPF) system requires both employers and employees to contribute to
individual accounts of workers. Each worker then draws on his CPF savings for purchase of housing,
medical care and retirement expenses.
By doing so, NTUC helps ...
1) to secure jobs for Singaporeans in the face of intense global competition.
2) to enhance savings for retirement and healthcare.
3) to assist the lowest income groups and older worker to get back to jobs.
*Training for Enhanced Employability
In a fast changing world, training is critical to ensure a person remains employable.
Training and skills upgrading must be a life-long pursuit.
Trade unions have called on employers to go beyond functional training and provide
developmental training to enhance employability of workers.
Some skills are generic and needed in most work situations, for example basic computer,
literacy and numeracy skills. So workers can embark on such programmes even as they are in their present jobs.