Singapore’s professional services sector told to redesign jobs

Job redesign and employee well-being will be key to retaining employees, says Indranee Rajah, Second Minister for Finance.
By: | January 6, 2022

Singapore’s professional services sector needs to monitor the ‘Great Resignation’ trend and take steps to grasp the growth opportunities that are on the horizon, said Indranee Rajah, Singapore’s Second Minister for Finance.

Speaking at the launch of jobs transformation maps (JTMs) for in-house finance and accounting practices in Singapore, she urged firms in the professional services sector to pay “serious attention” to job redesign, the well-being of employees, and strengthening their internal culture.

The minister, reported the Business Times, pointed to the exodus of employees in the United States and United Kingdom, which is being driven by a desire for better work-life balance, more flexible work arrangements, and a greater sense of fulfilment.

She added, “While we have not quite seen the same phenomenon here, professional services, which typically involve long working hours under higher pressure, should not ignore these signs.”

READ: Singapore’s economy grew 7.2% last year

Singapore’s accounting professionals industry is expected to add 6,000 to 7,000 jobs by 2025, adding to the 100,000-strong workforce now.

Chaly Mah, chairman of the Singapore Accountancy Commission (SAC), also called on employers to redesign jobs that may be at risk of being displaced by automation, train employees in in-demand news skills, and continue to invest in digital technologies.