From the Straits Times:
THE productivity of workers in Singapore is declining and labour chief Lim Swee Say has a suggestion on how companies can help turn it around. It is by doing more to develop new markets for their products.
He made the call to companies on Friday in response to feedback from many of them that measures like the Jobs Credit wage subsidy scheme are to be blamed.
Such government aid has resulted in these companies holding on to more workers than they need. They had noted that when 10 workers are retained to do the job of eight or nine workers, short-term productivity suffers.
Mr Lim, however, felt that the Government was doing the right thing by introducing help measures to save jobs.
To get around the short-term impact on labour productivity, which is a measure of the output per worker, he urged companies to ‘find ways to prepare these 10 workers, so that by the time the upturn comes, (they) can produce the output of 11 to 12 workers’.