Singapore, unlike many other larger countries, are lacking in natural resources. The main reason for Singapore’s growth and success today is largely due to good governance, encouraging the influx of foreign investments and development in various fields like engineering and manufacturing sectors. However, without the most important criteria to ensure economic success; the human population and workforce, Singapore would not have been able to achieve today’s standards as a first world country. Without access to a pool of well educated skilled workers and professionals, there would have been little chance for progression as a country. On a smaller scale, it relates to the growth and sustainability of an organization. Thus, the importance of human resource in an organization ranks on top. To deal with exponential growth and development, the Singapore government had to obtain external human resources to boost the labour workforce. Between 1970s to 1980s, the foreign workers population had increased more than five times, and then more than doubled from 1980s to 1990s. (MPI, 2012). This shows the importance of human population and resources to ensure growth and development of a country, and also organizations undergoing expansion. The positive image of a company is reflected by satisfied, loyal and highly-motivated employees. (GABČANOVÁ, 2011, p.1). It defines the core productivity of the organization, as well as how its capabilities are measured by the external markets or customers. The employees’ professionalism speak of the companies’ mission and goals, upholding its reputation as a business provider. There is no leader without an efficient team; like how it is akin to a general without a trained army. To thrive and face challenges in the ever-changing market, the organization has to identify needs and demands from external and internal sources, to be able to better equip its staff with relevant skill sets to cope with evolving job scopes, technological advancement...
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GABČANOVÁ, I. (2011): ‘THE EMPLOYEES – THE MOST IMPORTANT ASSET
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