The recent speech by prime minister Lee calls for us to increase productivity in this unpredictable landscape. Today, I’m going to discuss the challenges we face as a nation and how we can overcome it.
Note that I’m not a credible source of information. Do not cite me.
I believe the first challenge faced by the nation is the traditional mindset of leadership. The management should devote time thinking about how to reduce effort to produce the same results.
An immediate reward and punishment system should be implemented as well. This will condition employees to produce positive results and reduce negative response.
Employers have to develop employees. Living in a world filled with uncertainty, industries my collapse due to economic structural reforms. Thus, companies must aid employees to develop skills to stay relevant. Skills developed needs to be transferable, adaptable and sustainable. Companies might want to reconsider deep specialization as such jobs might be replaced by automation.
Data management, financial analysis, computing, engineers/technicians and product design are skilled jobs which I don’t foresee will be replaced by technology.
Investment in research and development is essential as well. The early adopters of new technology will allow the companies to boost their productivity. The need for new, clean, portable and efficient energy is on the rise as technological advances demands for more fuel. The demand for smart materials and alternatives to Silicon will also increase as the quantity of electronics product rise.
While efforts are focused on improving productivity and integrating systems, the threat of security still remains. Today, individuals are granted the ability to terrorize without the need to be present at the crime scene, let alone being in a group. Reports have shown that there is an increase in individual actors of terrorist attacks and with the availability of information online, hacking is not impossible.
Some data needs to be censored and isolated. These data includes accounts from the central financial sector and energy related information.
Thereby, productivity is a challenge of the leadership. As the world advances, threat increases, uncertainty rises, leaders has to adapt and motivate employees to stay relevant.