Daily Lessons from Life 30 April 2012 - Wages can be raised through productivity: PM Lee

Today is the last day of April 2012 and marked the end of 1/3 of 2012!! Scary?

"Wages can be raised through productivity: PM Lee - AsiaOne Apr 30, 2012

Higher wages can push up business costs, affecting competitiveness and may cause higher inflation, warned Prime Minister Lee Hsien Loong.

In order to sustain better wages and higher living standards, productivity among workers must be raised.

Mr Lee said that raising productivity is "more important than ever in our mature economy, because it is the only way to upgrade ourselves and our lives."

In his May Day message, the prime minister also urged every worker, whether rank-and-file or Professionals, Managers, Executives and Technicians (PMETs), to continue to upgrade and master new skills.

"Raising our productivity will benefit workers, firms, and our economy as a whole. Workers can earn more in higher-quality jobs.

"Firms can prosper and expand their businesses here. Our economy can continue to thrive despite more intense global competition," said Mr Lee.

Looking ahead, Mr Lee said that Singaporeans must prepare for a more challenging economic environment, as globalisation has shortened economic cycles, and ups and downs happen much faster, with less warning.

The prime minister's message is the latest to come from employers and politicians over a highly debated suggestion on raising wages substantially."

Another GENERALISED statement by a very powerful government official. Not very different from the many similar ones that came from the other government officials.

Lessons for me are:

1. if we need to PAY TOP DOLLAR for Talents, it is because the TOP TALENT can CREATE more values and hence COST is NOT an issue as the customers will be falling over each other to get their hands on the Products/Services/Solutions that these TOP Talent create! So, it is also VERY MUCH a question of WHAT industries are we in! Something that Singapore government used to be very good at picking. Of course, the landscape has changed and globalization really make Singapore NOT so special anymore! There lies the biggest CHALLENGE!;

2. how can we MAKE Singapore SPECIAL? So special that the investors will WANT to bring their BUSINESSES to Singapore regardless of COST as they see MUCH GREATER VALUES than cost? A stable, may not be a given these days, government? A competitive Singaporean workforce of the HIGHEST quality given our WORLD CLASS universities, self-claimed? WHAT? If the 'new' investors want non-compliance, free-spirited, iconoclastic workers in Singapore, can they find them, and in abundance?

3. the time for GENERALISATION has past. Singapore leaders NEED to be specific going forward to address the Productivity issue. This, after the 1st productivity movement was launched at least 3 decades ago!? We have FAILED to instill 'productivity and innovation as a WAY OF LIFE!' - a goal or something like this lauded then!!

As I shared in another forum, we need a leader with the vision and courage to PUSH the 'unsure &/or scared' Singapore employers to DITCH the 'lower and cheaper foreign labour' addiction and bite the bullet to invest in productivity that pay higher wages for Singaporeans!

Otherwise, this unsatisfied voter, assuming he or she is willing and able to be productive and deserve a high wage, will come back to bite EVERYONE at the next GE!!