The world is changing, so is the human resource (HR) industry. With undergoing tech transformation, HR enthusiasts are urged to keep their skills updated. To serve this purpose, the Institute for Human Resource Professionals (IHRP) will develop more and different learning avenues for HR professionals, with a greater focus on emerging skills to help Singaporean leaders stay current.
This move was of the recommendations by the HR Industry Transformation Advisory Panel (HRTAP) to help build a stronger HR sector in Singapore to enable business and workforce transformation, Straits Times reports.
The panel was convened last year to come up with ways for HR professionals to use more technology as they help workers and businesses transform. It aims to have more than 10,000 HR professionals take up IHRP or equivalent certification, and confer 10,000 skills badges in emerging skills such as data-led talent acquisition by 2025.
Senior Minister of State for Manpower Zaqy Mohamad said, “Through upskilling and supporting business and workforce transformation, we will continue to elevate HR professionals into strategic business partners and leaders. In turn, this also means better jobs in HR.” He added that there are about 47,000 HR professionals in Singapore, of whom 90 percent are local.
Mr Zaqy highlighted that median wages for HR professionals have grown by about 10 percent from 2015, and HRTAP aims to support these workers to take on roles with higher value-add and wages through HR transformation.
The panel has also recommended both targeted and broad-based initiatives to help companies build HR capabilities. As part of its targeted support, the Ministry of Manpower (MOM) and IHRP are working with agencies to develop sector-specific HR playbooks, with curated tools and solutions.
The Government will also integrate HR capability-building components into its enterprise support schemes, such as the Scale-Up SG programme, which helps high-growth companies, said Mr Zaqy, who was speaking on the second day of the virtual HR Tech Festival Asia, which ends today.
Broader measures implemented include providing businesses with greater access to more affordable HR technology solutions.
The MOM will also introduce an employer data portal to allow companies to access company-specific workforce insights in the fourth quarter of this year, to help employers in manpower planning and improving their hiring and employment practices.
Mr Zaqy highlighted that the national Human Capital Diagnostic Tool (HCDT), which identifies strengths and gaps in human capital processes as well as appropriate solutions, is a useful resource that businesses can tap.
More than 1,000 firms have used the HCDT to date, said Mr Zaqy, citing local furniture retailer Scanteak, which implemented a new HR system and e-learning platform for its sales staff after using the tool. The new systems have helped enhance its workers’ digital competencies since, he added.
The HRTAP aims to have 5,000 HCDT assessments by 2025, and for 80 percent of companies to have improved diagnostic scores by the same year, he said.
In a virtual panel discussion, several members of the HRTAP spoke on how HR will support business transformation, and the impact of the coronavirus pandemic on the role of HR professionals and the industry.
IHRP chief executive Mayank Parekh emphasised the need for HR professionals to develop digital acumen, and utilise analytics to improve performance and employee experiences. “It is critical now that HR leaders progress from just anecdotal approaches to convince business leaders to more evidence-based thinking and providing more data and decision science behind the recommendations that they are making,” he said.