Invest in employees' development
Competitiveness requires an organisation to put employees first and develop quality training programmes.
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PUBLISHED reports by the IMF, World Bank and OECD have been of consistent view that the global economy is in the midst of a decade-long slow growth environment characterised by an imminent productivity growth crisis.
Regrettably, the growth outlook for 2017 shows a continuation of this trend globally. The looming labour shortage and skill deficiencies in Singapore will add further challenges to economic prospect.
Businesses have to prepare for more disruptions from geopolitical tensions, policy uncertainty, financial market volatility and rapid changes in technology, but they also need to stay focused on leveraging the qualitative sources of growth with investment in technology and business productivity even in turbulent times.
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