3E Accounting In Virtual Dialogue with Manpower Minister Josephine Teo
3E Accounting has participated in Workforce Advancement Federation (WAF) Virtual Seminar & Dialogue with Manpower Minister Josephine Teo on 11 August 2020. The webinar’s theme focused on how companies can foster resilient and sustainable businesses amidst COVID-19 and was helmed by the following speakers:
- Josephine Teo
Minister of Manpower and Second Minister for Home Affairs
Management Representative of Workforce Singapore
- Dylan Ng
Council Member, WAF
CEO & Co-Founder of Supersteam Asia Pacific Pte Ltd & LionsBot International Pte Ltd
Moderator for Dialogue with MOM
- Chua Koon Beng
CEO of Wonderscape Holdings Limited and Director of Spa Esprit Group
Support for Businesses in Singapore
Mrs. Josephine Teo, Minster of Manpower, explained how the SGUnited Jobs and Skills Initiative 2020 can support businesses through the pandemic.
Building Human Capital
Companies were advised to explore the different initiatives like SGUnited Traineeships, Mid-Career Pathways Programme, Enhance Hiring Incentive and Fund Management System (FMS) and Progression Conversion Programmes (PCPs). This would allow them to continue building human capital with the aid of the government.
Hiring and Retaining of Senior Workers
The Minister of Manpower also highlighted that businesses can apply for the Senior Worker Early Adopter Grant, Part-Time Re-employment Grant and Senior Employment Credit to receive subsidies for retaining their senior workers. In addition, the government has announced the deferment of the planned increase in CPF contribution rates for senior workers for 1 year.
Boosting Business Resiliency through Technology Adoption
Technology investment and digitalization of processes are key factors that businesses can leverage on to navigate through the challenges brought by COVID-19. These factors not only allow companies to transform their ways of working into efficient and flexible models but also enables them to achieve business-wide benefits. As such, 3E Accounting has been investing in digitalization like Cloud-based Technology, VPN, IP Phones and GSuites to improve our process efficiency while minimizing the impacts of the pandemic on our business.
3E Accounting is Optimistic about Emerging Stronger
The benefits of technology adoption coupled with government’s support would enable companies to foster resilient and sustainable businesses. 3E Accounting is optimistic on the benefits of digitalization which would allow businesses to emerge stronger post COVID-19.