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The tightening of the labour market will spur a faster pace of economic restructuring. We must do our best to minimise the downside and maximise the upside for our workers and businesses. If not, the outcome of a failed restructuring will be painful for all.
Imagine a future where rank-and-file workers are replaced by robots; Professionals, Managers and Executives become underemployed; mature workers cannot fit into workplaces that are not age-friendly; working parents, especially working mothers, face worsening work-life balance due to inflexible work arrangements; and low-wage workers are stuck in a world of cheap sourcing. If we allow these to happen, we will face higher unemployment not just because of job shortage, but also because of job and worker mismatches.
Nobody wants to end up with such a future.
http://www.theonlinecitizen.com/2014/04/a-failed-restructuring-will-be-painful-for-all-lim-swee-say/
Imagine a future where rank-and-file workers are replaced by robots; Professionals, Managers and Executives become underemployed; mature workers cannot fit into workplaces that are not age-friendly; working parents, especially working mothers, face worsening work-life balance due to inflexible work arrangements; and low-wage workers are stuck in a world of cheap sourcing. If we allow these to happen, we will face higher unemployment not just because of job shortage, but also because of job and worker mismatches.
Nobody wants to end up with such a future.
http://www.theonlinecitizen.com/2014/04/a-failed-restructuring-will-be-painful-for-all-lim-swee-say/