Memorandum of Understanding to uplift Human Capital initiatives and the HR Community in Manufacturing

MOU parties - IHRP and SPETA

Institute for Human Resource Professionals and Singapore Precision Engineering & Technology Association sign Memorandum of Understanding to uplift Human Capital initiatives and the HR Community in Manufacturing Singapore,

19 October 2023 – The Institute for Human Resource Professionals (IHRP) will join hands with Singapore Precision Engineering & Technology Association (SPETA) to collaborate in the adoption of more progressive Human Capital Processes among manufacturing firms in Singapore. The Memorandum of Understanding was inked at the Industrial Transformation Asia-Pacific (ITAP) 2023, held at Singapore Expo on 19 October 2023.

The Guest-of-Honour was Minister of State for Trade and Industry, Mr Alvin Tan.

The MOU signing will see IHRP and SPETA working together to curate and develop sessions of Learning Circles to promote adoption of the Manufacturing Employer Handbook, which includes the utilisation of the IHRP Human Capital Diagnostic Tool (HCDT) to help manufacturing firms understand the strength and opportunities of their Human Capital processes, as well as outline an actionable roadmap for the next step.

Meeting Talent Attraction and Retention Challenges in the Manufacturing Industry

Based on a 2022 ManpowerGroup survey, roles in manufacturing are the fourth most in demand by employers in Singapore. Yet, filling in talent in this industry is also one of the most difficult to do. Developed by IHRP and SPETA with support from Enterprise Singapore (EnterpriseSG), the Manufacturing Employer Handbook provides guidelines, tools and templates that manufacturing employers can easily adopt to develop structured career progression pathways for their employees, as well as implement progressive people strategies that help support and accelerate their business growth.

HR Learning and Growing Together As A Community

The pilot run of the IHRP-SPETA Learning Circles in August 2023 was met with favourable response and enthusiastic participation from the member companies of SPETA. The sessions delved into the key aspects of Employee Value Proposition, Employee Engagement and Talent Attraction, through hands-on activities and HR clinics.

“We are happy to embark on the next phase of this growth and learning journey with our industry partner SPETA,” said Mr Aslam Sardar, Chief Executive Officer of IHRP. “There is urgency to develop a strong pipeline of talent for the manufacturing sector, and HR plays a pivotal role in ensuring the talent strategy is robust. To do so, companies need to offer attractive career progression pathways and prospects aligned with the ever-evolving market, and ensure these opportunities remain accessible for the employees.”

Mr Simon Lim, Executive Director of SPETA, said, “Manufacturing remains the bedrock of Singapore’s economy, accounting for about 22% of the GDP and 220,000 local jobs. Launched in 2021, the Manufacturing 2030 vision strives to grow our value-added (VA) by 50% over the next 10 years and we have been making significant progress since. It is an opportune time to work together with IHRP to boost our growth strategy, and the Learning Circles will present wonderful opportunities for our member companies and beyond to grow, learn and achieve success together. I thank all supporters from companies, partners and the Government, in particular Enterprise Singapore for their great help in this endeavour.”