By raising the retirement age, it effectively means that in a typical company, there would be an increase in the number of old employees working, because companies would be obliged to keep their employees till retirement age. This is further ensured by the new re-employment scheme that will be rolled out by 2012.
Precisely because this matter is one of the most pertinent social problems that Singapore is facing now, it is important that multiple social viewpoints should be carefully considered and weighed before any decision is being made. As such, it is not only vital but necessary that the government should change the spotlight from the citizen's viewpoint to the company's viewpoint as well as economic drawbacks of having a old workforce.
Although in my last post, we have established the conclusion that it is necessary for the old to work, so as to balance out the working : non-working ratio, it is also vital to take a closer, more down-to-Earth look at the older section of workforce, and whether they are effective workers that can contribute to our developing industries.
In fact, this hoo-ha has already been brought up last year, when the government pointed out the advantage of having older workers in the company. PM Lee highlighted that older workers have more experience in company procedures, and are wiser than younger employees when it comes to making critical decisions.
However, it is also true that younger workers, especially those who have just graduated, have more drive, passion and motivation when they enter the company. Younger workers are also more energetic and will go the extra mile.
Take my uncle for example. He has been working for his company for at least 10 years already, and being an old worker there, he knows many loopholes in the company's leave and MC system. Recently, he has taken this to his advantage, coming home at earlier hours than he is supposed to. Generally, he would seize the opportunity to slack (e.g. trading shares in company) whenever he can.
As such, it is clear how older workers lack drive when working, especially when there are increasing physical limitations. So, what can we do if our country becomes a country which depends on an old-workforce?
Firstly, birth-rates must increase. The government is really doing too little to encourage child-bearing. Incentives such as motherly leave are not attractive enough. Besides monetary incentives, the government should also hold seminars to persuade couples of the benefits of having children. More rigorous campaigns such as pasting of posters, cartoons etc. should be used.
Also, citizens should be welcoming to foreign PRs (e.g. PRs from China, India, America etc.) , and not always complain about them. After all, they have proven to be very innovative and creative when coming out with ideas in a company. They also have generally higher birth-rates.
In a nutshell, the government really has to put more effort and emphasis on this matter. Singaporeans should not be too ignorant, indifferent or over-reactive towards what the government is doing too. Only then, can we have more driven and healthy society and economy.
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