Human resource management (HRM) is the function that assists organizations in achieving goals by obtaining and maintaining effective employees. There are four basic functions; which are staffing, training and development, motivation and maintenance. Some of the responsibilities of HRM include locating competent employees and bringing them into organizations. Secondly, train the workforce to maintain competitiveness of the organization. Thirdly, keep highly productive competent and adapted employees with up-to-data skills, knowledge, and abilities. Lastly, develop compensation strategies and policies in compliance with legislation, market forces, and the organization’s business strategy.
The MOM ensures that good jobs continue to be created for Singaporean. On the other hand, the framework is not about “hire Singaporeans first or hire Singaporeans only”. The MOM also raised the qualifying salary for new EP. Managers ...view middle of the document...
Secondly, firms must provide employee benefits to whole workers including Singaporeans and foreign workers. Companies provide a good environment to employees and introduce welfare policies; therefore, this is a good way to decrease workplace pressure and solve the wages problems.
There are some pros of changes to employment legislation for the employee and employers.
Firstly, employee benefits include annual leave, medical leave and healthcare benefits, retirement fund contrition and etc. Government’s new policy ensure that a worker covered by the Employment Act is entitled to paid medical leave if he has served the employer for at least three months or he has informed the employer for his absence within 48 hours. Thus, they are entitled to 5 days of medical leave and 15 days of hospitalization leave.
Secondly, self-incentive and bonus are attracting the whole employer and employee. Since the Employment Act changed by the Ministry of Management (MOM), many Singapore companies offer staff incentives in term of monetary bonuses and variable payouts to motivate employees to do their best that can make the biggest profit to the companies. There are three staff incentives in Singapore; they are AWS, the bonus and variable cash payment. The bonus is the payment by the company to reward the employee that is paid out by the end of the year. The variable cash payment is meant to reward the employee for his contributions of the company.
On the other hand, there are some cons of changes to employment legislation for the employee and employers also. Non-workmen earning up to s$2,500-such as clerical staff and front-line service staff –are now protected in terms of working hours, rest days and overtime payments. However, the limit of overtime pay is S$2250.It means that overtime pay per hour is S$17.7. There are few workers would agree with this change of the employment legislation. Thus, fewer workers will volunteer to work overtime.
Furthermore, companies will employ more experiences and skilled workers from Singapore or foreign countries. Thus, unskilled workmen would not have more job opportunity. Therefore, government should arrange these groups of people as well.