SV: What is the scope of the Workers’ Compact?  

PT: Through a series of engagements and surveys, we reached out to more than 42,000 workers from all walks of life to understand their needs, aspirations and concerns.

We looked at a variety of issues and challenges confronting Singapore and our workers. For example, job security, career progression, workplace fairness, support during unemployment, caregiving woes, flexible work arrangements, financial literacy and retirement adequacy, and mental health and wellness.

The Workers’ Compact applies to all workers. Our seafarers in Singapore will also benefit from the outcomes and recommendations that we have fleshed out.

SV: Narrowing down to the mid-career group, what concerns were uncovered?

PT: We are aware of the fears and anxieties of our mid-career workers—those in their 30s to their early 50s—especially in the areas of job security and skills relevancy. The findings revealed that mid-career workers experience a higher level of anxiety compared to younger and older age groups. They want to be supported in their pursuit of deep skills. At the same time, many mid-career workers have caregiving responsibilities to dependent family members, such as young children and elderly parents. Should they lose their jobs, they would face extreme difficulty in servicing debts and meeting daily expenses. This finding was consistent across mid-career workers who were lower-wage workers as well as PMEs.

SV: That’s a precarious position they are in.

 PT: I have been lobbying for some form of unemployment insurance/support for involuntarily displaced workers for a decade and glad that the Government has taken up this suggestion which was also fleshed out both in the PME Taskforce and #EveryWorkerMatters Conversations/ Workers’ Compact Recommendations. I look forward to the full details later part of this year to help and support workers to smoothly transit into the next job.

But briefly, here’s how it works.

Aimed at alleviating immediate financial pressures, it gives displaced workers a breather to consider their next steps. We are essentially saying, ‘Look, you have some time; why not use it to give some thought to what you would like to do next? Assess your skills, build on them, consider your interests and long-term career goals.’ NTUC, through its established Training and Placement Ecosystem, will follow through to help workers with upskilling and job matching. By doing all of these, there is a higher chance of workers bouncing back onto a more resilient career pathway.