Singapore launches new ‘opportunity index’ for workers to find firms that support career growth

The company-level approach uncovers good firms in every industry, and can help workers find good employers in “less brand-name companies, less sexy sectors”, said the spokesperson.

Announcing the index at an Institute for Human Resource Professionals event, Manpower Minister Tan See Leng said it is not intended to be a ranking exercise.

“Instead, it serves as a common yardstick to help employers and workers understand organisations’ impact on our workforce to support decision-making. This offers consistent and objective data comparable with peers – all at no cost to your business,” said Dr Tan.

Dr Tan said initial findings show that even against the same market forces, employers’ decisions around talent play a powerful role in shaping careers.

Workers at companies in the top 20 per cent are 2.2 times more likely to stay past their first year and earn 3.4 times more than workers in companies at the other end of the index.

Workers in the top firms also have an 86 per cent chance of getting a higher wage in their next role.

“We also saw that opportunity is not limited by industry or size,” added Dr Tan, pointing to how top performers were found across sectors and company sizes.

MOM said another key finding is that there is no single formula for excellence, and firms use different strategies to achieve strong workforce outcomes.

Recognising this, the index will classify top-performing firms into three models based on their performance metrics.

“Career launchers” create clear pathways for those starting or restarting careers, “career builders” map success paths for employees and “career anchors” build stability, such as by keeping senior talent.

Workforce constraints will be more serious going forward, and having good human resource practices around retention and progression will be increasingly important for employers, said the MOM spokesperson.

Noting there has been much focus on the SkillsFuture movement for lifelong learning, the spokesperson also said the index recognises that a lot of workforce development takes place in employment and helps to foster best practices around that.

MOM developed the Singapore Opportunity Index with the Singapore University of Social Sciences and the Burning Glass Institute, a think-tank responsible for similar indices in the United States and the United Kingdom.