Good Evening 

NTUC Secretary-General, Brother Ng Chee Meng, 

NTUC Central Committee leadership and affiliated unions, brothers and sisters,  

Representatives from various government agencies,  

Chairmen and senior leadership of our Temasek Portfolio Companies and business trade associations;  

Friends and colleagues,  

A very warm welcome to all of you.  

The Temasek Tripartite Conversation Fruit Fiesta has always been a great opportunity for us to re-connect, bond and strengthen ties with one another, over an informal “makan” session.

We have been through a lot over the past 3 years, from the COVID-19 pandemic to more recent challenges like high inflation and interest rates. The world remains unpredictable and volatile with geopolitical tensions. We have seen how the recent Israel-Hamas conflict has cost lives and livelihoods. What do these all mean for Singapore? How can we build up the resilience so that our companies and workers can learn to cope better?  

The term “resilience” can mean different things to different people. It is the ability to thrive in difficult times or the ability to roll with the punches.

Resilience can also refer to the ability to deal with challenging situations, learn from setbacks to bounce back better and bounce forward stronger and achieve newfound growth and success.

For companies, building organisational resilience and ensuring inclusive growth is key in today's dynamic and unpredictable business environment. To achieve this, businesses need to develop agility and flexibility to navigate through ambiguities, adapt to changes and seize new opportunities. They also need to seek alignment and scale impact with their ecosystem of stakeholders through collective partnerships and forge a unified purpose to achieve long-term resilient growth.  

Importance Of Collective Partnership to Maintain Resilience

Today, we will hear from SIA and our union colleagues, who will share valuable insights on their journey through a crisis. They will talk about how their partnership played a crucial role in ensuring their organisation’s survival and in enabling them to reach almost 100% of pre-pandemic levels. They will also share about the importance of achieving resilient growth across all aspects of their businesses, operations and capabilities. 

Some of the commendable initiatives were a result of the joint effort and cooperation between the SIA management, union leaders and various stakeholders. They all worked together with a unified purpose to prioritise job preservation during COVID-19. 

Unions supported SIA management in implementing cost-cutting measures, including pay cuts for all staff, to protect jobs for over 2 years.  

The workforce demonstrated agility, with more than 2,000 workers including cabin crews redeployed as ambassadors in healthcare, transport, and contact tracing, utilising their complementary skillsets. This enabled them to retain valuable skills that facilitated a swift transition back during the recovery phase. 

SIA management did not take their workers' efforts for granted. As an act of solidarity, they took the lead in implementing earlier and deeper wage cuts, and workers' salaries were restored first in 2021 before their own.

Today, SIA continues to focus on upskilling their workforce through their UPLIFT programme. Embracing an agile mindset, 100% of their global workforce have completed their 2-year holistic upskilling plan this year.

Our SIA and union colleagues from Singapore Airlines Staff Union (SIASU) will have more to share on this later on. 

Investing In Workforce Transformation to Be Future Ready

Today, the importance of having a common purpose across tripartite stakeholders is key to survival in an uncertain world. It also reminds us that we need to embrace agility and continuously engage in lifelong learning, and that upskilling and reskilling remains critically relevant in today’s dynamic world. 

I am glad to note that many Temasek Portfolio Companies (TPCs) have placed workforce upskilling and reskilling high on their agenda, and partnered with the Government and NTUC in initiatives such as Place and Train programmes and Company Training Committees, to prioritise training and help uplift jobs.

Step IT Up is a prime example of a Place-and-Train Programme initiated by a company in our ecosystem, Temus, to continue upskilling and developing our workforce with the latest technologies. This programme hires individuals without any technology background and converts them into full-fledged digital talents. This proactive approach towards workforce transformation not only allows us to navigate crises, but also positions us at the forefront of innovation to ensure we remain future ready and competitive.  

Conclusion

The Temasek Tripartite Conversations hold an even greater importance in today's challenging climate. As a thought leadership platform, TTC plays a vital role in keeping our Singapore workforce at the forefront of resilience, and in addressing emerging workforce issues. And this year, the topic was artificial intelligence. 

Where TTC stands today is the result of the strong support and active participation of all tripartite partners. Through a unified purpose, we can continue to build on our achievements and drive inclusive and catalytic growth together. 

With that, I hope you all enjoy this event and make the most of the valuable discussions, insights, and connections awaiting you. Thank you.