Reframing for a stronger cross-sector perspective on company and workforce transformation

THE Covid-19 pandemic has accelerated the urgency for companies to embark on digital transformation efforts to reimagine how their businesses operate and adapt to new opportunities. It has also exposed the vulnerability of employment and the close nexus between business and workforce transformation in order for companies and individuals to build resilience.

Clearly, people remain at the core of any transformation. As Deputy Prime Minister (DPM) and Finance Minister Heng Swee Keat said during the Budget 2021 announcement, "enabling our people to have access to good jobs and job opportunities is the purpose, for developing a strong economy".

The three-pronged strategy of company transformation, job redesign and workforce reskilling to build a vibrant economy, which is central to Budget 2021, is therefore holistic and well-calibrated.