Yesterday, I delivered the closing keynote for the Annual Learning Festival for the country of Singapore. The title of my presentation was "Capitalizing on the Aging Workforce to Win the War for Talent". Sponsored by the Workforce Development Agency of their Ministry of Manpower, part of my job was to talk about a program called the Advantage! Scheme. This initiative gives employers up to SG$400,000 to hire and or retrain older workers which they define as 40+.
Advantage! supports a variety of services employers can provide for these older workers, including career guidance and health education, as well as improving the work environment to be better for seniors.
In addition, the government has recently passed a new legislation called The Re-employment Law of 2012. Five short years from now the government will require employers to offer work to people aged 62 and older, until they are 65. Later, the government will raise the age to 67. To date, over 400 companies have taken Advantage!
As I was preparing to deliver this speech, which included two interviews with Advantage! employers, it occurred to me just how far ahead of the US the country of Singapore really is. This Southeast Asian country has recognized the importance of its seniors that the culture calls its "uncles" and "aunties".
Because of Advantage!, the Re-employment Law of 2012, and the country's encouragement of employers, Singapore will have the workers it needs to successfully compete in the Global War for Talent.
When will the US wake up?
Looking Forward. . .
Joyce Gioia-Herman
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