Manpower Minister emphasises need to develop S'pore as a Home for Talent

http://www.channelnewsasia.com/stories/singaporelocalnews/view/1055548/1/.html

SINGAPORE : Manpower Minister Gan Kim Yong said on Monday that Singapore needs to seize this opportunity to position itself as a Home for Talent, to drive business and innovation.

Speaking at the launch of the new Human Capital Leadership Institute, Mr Gan said that the war for talent will intensify when companies expand their talent pool, as business picks up.

He felt that Asia is also set to spearhead the pace of world economic growth in the next few years.

Mr Gan said, "Employers will hire only the best candidates with the right skills and attributes. The workforce needs to upgrade their skills and knowledge in order to remain competitive and marketable. Therefore, a key thrust of Singapore's economic growth strategy going forward is to enhance workforce capabilities by focusing on skills, innovation and productivity.

"To achieve this, we need to help companies develop progressive talent management and leadership capabilities."

Mr Gan explained that a home for talent needs a vibrant talent ecosystem where businesses can find and develop talent capital to helm their operations.

So the Manpower Ministry and the Economic development Board are working closely to ensure that Singapore has both the hardware and the software to facilitate the growth of talent centres of excellence.

In this regard, the Human Capital Leadership Institute will play a pivotal role, said Mr Gan.

It will be the global talent and leadership hub for Asia to provide knowledge and advice for emerging talent management trends and leadership development issues.

To achieve this, the new Institute will have a research arm which will draw support from the Singapore Management University's expertise and resources in applied research.

The new Institute's Board of Governors is headed by entrepreneur Sunny Verghese.