360 Productivity Framework for SMEs in Singapore

06 Aug 2013

Singapore company registration specialist Rikvin says that the 360 Productivity will help as many as 700 Singapore SMEs (Small and Medium sized Enterprises) navigate their way through productivity and become globally competitive enterprises. The Workforce Development Agency (WDA) and Human Capital Singapore (HCS) have launched the 360 Productivity Framework in a bid to help SMEs. According to Rikvin, this program will help many SMEs that have not succeeding in grasping the national drive towards higher productivity. There are 3 components for this framework:

1. An Annual Productivity event, aiming to help SMEs understand productivity, its forms and applications. This includes understanding the evolution, measurement, improvisation, applying non-market strategies to navigate geopolitical challenges and what to do with the gains.
2. A series of four Productivity Masterclasses, that will bring renowned thought leaders to share their ideas on varied productivity themes.
3. Eight Productivity Practice Sessions (PPS) which will bring like-minded professionals, leaders and managers to share and learn productivity initiatives.

Rikvin’s analysis shows that the framework builds on capability and productivity related initiatives such as the Productivity and Innovation Credit Scheme as well as the Innovation & Capability Voucher (ICV). Mr. Satish Bakhda, Head of Operations at Rikvin said that many Small and Medium sized Enterprises understand the benefits of productivity and how it can help move up their business. However, he insists that careful planning is very important in moving up the value chain along with time and energy, and he anticipates SMEs to be in good stead to benefit from this initiative.