Firms lauded for saving jobs

Oct 7, 2009
Firms lauded for saving jobs
Minister's call: Keep up socially responsible acts when economy recovers
By Goh Chin Lian, Senior Political Correspondent

SINGAPORE companies received a pat on the back from Manpower Minister Gan Kim Yong on Tuesday for saving jobs during the economic downturn.

Calling it a socially responsible act, he lauded them for working with the Government and labour movement to retain workers and retrench only as a last resort, averting massive layoffs and a high jobless rate.

But as the economy improves, he called on companies to continue their socially responsible ways by tackling other pressing issues such as an ageing population and a widening income gap.

His suggestions include implementing age-friendly hiring policies so that more older folk can find and keep jobs, and using best sourcing instead of cheap sourcing to ensure low-wage workers can enjoy higher salaries.

These practices will enable 'vulnerable workers' to benefit, and not miss out, on Singapore's economic growth, said Mr Gan, who was speaking at the start of a two-day international conference on corporate social responsibility (CSR).

Organised by Singapore Compact for CSR, a national society that promotes such practices, topics covered in the conference include the role of corporate foundations and strategies to help companies stay socially responsible.

Read the full story in Wednesday's edition of The Straits Times.