According to the Retirement and Re-employment Act (RRA), it is having effect since 1st January 2012. This act states that the statutory minimum age remains 62 years but the employers are now required to offer re-employment to the employees that are turning 62 until they reach to 65.
In accordance with these facts, this report is highlighting the benefits of human resource management, knowledge management and Organizational learning processes within Singapore that has impact of RRA act within their workforce.
Discussion on KM and OL Principles to increase innovation and competitive advantages over next five years by HR Management Systems and Practices in Singapore
This essay is concerned about the issue within Singapore workforce. In addition to this, this essay is also defining the function of Human Resource Management, Knowledge Management and Organizational Learning processes (Aggestam, 2015). After these explanations, the essay will be explaining the KM and OL strategies that are creating innovations and also increasing the competitive advantages over the Singapore workforce. In contrast with these facts, all of these aspects are considered with respect to training and development, succession planning in the human resource activities.
Singapore has rapidly growing workforce. In accordance with the statement provided by National Population and Talent Division Prime Minister, there will be around 900,000 baby- boomers those will leave Singapore’s Workforce between present to 2030 (Alegre, Sengupta & Lapiedra, 2013). In addition to these facts, according to the Population White Paper that was published in the year of 2013 there were 171,000 entrants over the Singapore workforce in the year of 2030, whereas the retirement standards were 258,000.
In accordance with the demographic shift, this aspect is identified that there are labor shortages coming in next few years (Becerra-Fernandez & Sabherwal, 2014). Therefore, it is important for the companies that are involving training, knowledge management and other important factors in this assignment. In contrast with these facts, human resource management has various critical aspects involved within the system architecture of any organization that needs to be managed by various HRM factors.
In accordance with the Human Resource Management process is one of the most effective solutions that help in managing the competitive advantages and innovation measures. According to the Michele Porter’s value chain analysis segmentations it is clear that there are various aspects that are helpful in managing the solutions and problems associated with the human resource management processes.
Knowledge Management is nothing but the concept of managing important knowledge activities involved within the system architecture of workforce sector of Singapore. Knowledge management is nothing but the process of effective learning associated with learning, exploration of knowledge and management of knowledge management (Bharati, Zhang & Chaudhury, 2015). All of these aspects are managed and regulated with the help of various technological and cultural environments. In addition to this, the knowledge management process is incorporating the acquisition, creation, redefinition as well as storage of information within significant area of operations that are used and maintained within the significant area of interests (Dent & Whitehead, 2013). These concepts and methods are also concerned by the organizations in managing their knowledge attributes and significant area of interests within any significant area of interests.
Organizational learning process is nothing but the creation and establishment of relation between transferring knowledge within organizations and gaining knowledge within any organization (Hislop, 2013). One organization can easily improve their system architecture and organizational work culture with the help of using traditional knowledge within the organization as well as the organization make their employees trained about the system architecture and work culture.
Relation between KM and OL Principles and HRM Policies for managing Competitiveness and innovation within Singapore
The concept of knowledge management and are generally helping the organizations with respect to various critical point of time as well as depending on various organizational processes that are important for managing practices and employee behavior within the organization (Holsapple, 2013). The KM and OL principles are effective in solving various developments and training perspectives that needs to be managed within the organization. These development and well defined perspectives of organizational culture and performance are considered for managing the knowledge management and organizational learning perspectives within the organization. all of these aspects are important for providing training to the trainees that helps in managing knowledge within the target market of Singapore.
In contrast with all of these aspects and facts, training and development provided to employees are helpful in keeping the skills and knowledge improvised and developed with respect to changes and growth factors involved within the system architecture of any target market of Singapore (Holtshouse, 2013). This aspect is helpful in improving the corporate culture as well as it also manages the growth of the organization. In addition to this, the traditional context of the company the human resource department generally looks for training programs for employees with respect to various critical aspects involved within any organizational structure (Jones & Sallis, 2013). HRD generally reviews the system architecture of the organizations of Singapore and improvises the system architecture with respect to various trends and significant area of interests over their demands.
Performance and development aspect is another important aspect to be considered within the system architecture of the organizations. In contrast with the scenario of Singapore, this aspect is identified that the organizations within Singapore are noticing one fact that the employees are generally becoming knowledge centered (Noruzy et al., 2013). This aspect is forcing the organizations in focusing on their performance and developmental aspects. The employees are concerned with this fact, that how their performance can be developed and this will guide them for managing their functionalities within organizations. HRD is helpful in evaluating the performance of the employees with respect to changing trends and system architectures.
Human resource management should also create a cultural structure that supports the learning and knowledge dimensions within the organization (Reich, Gemino & Sauer, 2014). The concept of knowledge management and transformation are considered with respect to management principles and learning strategies that are helpful in providing HRD solutions to the workers of Singapore with respect to various global trends.
Another concept related to human resource management is considered for managing employee effectiveness within organization is reward management. This aspect is another important aspect for managing the system architecture within the organizational infrastructure of Singapore for managing the employee effectiveness as well as this aspect improvises the system architecture as well as encourages the employees with respect to various critical aspects that are mainly based on the learning principles within the organizations of Singapore (Sigala & Chalkiti, 2014).
KM and OL principles generally have effective impact on the system architecture and organizational culture of the organization. Within one KM and OL environment, HRD can also work actively functions within companies for managing and analyzing the training materials and continuous learning outcomes within organizations (Sultan, 2013). Explicit knowledge and other important aspect can be easily managed with the help of development and training perspectives within organizations of Singapore. These aspects are easily managed with the help of tactic of knowledge. Therefore, the culture involving encouraging activity that helps the organizational structure in achieving improved competitive advantages.
Knowledge management is such a concept of managing the skills and knowledge involved within any organizational architecture of any concerned organization that helps in solving various critical aspects within any organization that helps in managing the KM and OL processes among the workforce of Singapore (Sunalai & Beyerlein, 2015). In contrast with these facts, KM and OL concepts, there are also various other aspect that helps in managing the competitive advantages and innovation formats within organizations of Singapore. In addition to this, succession planning is another aspect to be noted and maintained within concerned organizations of Singapore.
Traditionally, the organization of Singapore includes the system architecture of succession planning (Weaven et al., 2014). This aspect is required for managing the effectiveness of high level personnel. The shift of employees from the role they are getting for their organizational positions leads to the negative impact of the organizational role. In contrast with these facts, this shift creates the knowledge gap between the employees and organizational heads involved within any business process. This aspect makes the organizational members aware of the HRM policy that provides effective benefits to the system architecture and organizational development perspective.
In contrast with the facts related to Succession planning of any organizational development perspective and employee performance development plan involved within the system architecture of any organization leads to the shortage of labor as the companies finds massive knowledge gap in the next five years (Yee-Loong Chong et al., 2014). This entire process of succession planning is dependent on the starting of the planning program within any significant aspect involved within the system architecture of any organization. In contrast with these facts, one organization can easily check their recruitment and development aspects with the help of active analysis of the succession planning perspective.
A leader plays a great role in managing the system architecture and organizational development with respect to leadership strategies and training given to them for managing their performance within any organization (Aggestam, 2015). The succession planning makes the skills, knowledge and tactics up to date with the demands of system architecture within any organization. Therefore, the succession planning is dependent on the strategic decision making perspectives of the organization that manages the system architecture as well as the functional segments involved within the system architecture of the organization.
Human resource management is another aspect that manages the succession planning operates and manages the knowledge gaps present within the significant area of consideration while managing the system architecture and organizational effectiveness of any industry that are related to Singapore markets (Alegre, Sengupta & Lapiedra, 2013). HRD includes and examines the employee that requires impending retirees within the organization. In contrast with these facts, if there are gap with respect to competency within any organization of Singapore then the examination of roles and responsibility of employees within organizations.
In contrast with these aspects, replacement of employees will result into the shift of roles and responsibilities within any organization. In addition to this fact, the organizational activities are managed with respect to human resource management concepts within organizations of Singapore (Becerra-Fernandez & Sabherwal, 2014). HRD management can also manages workshops and management of replacements within organizations for managing organizational functioning with respect to competitive marketplace of Singapore. The functional measure of HRD offers soon to retire employee opportunities for managing training functions and mentors. The knowledge management aspect and organizational learning operations are helpful in solving various critical aspects that are mainly involved within the system architecture of Singapore. This aspect manages the organizational effectiveness within various industries within Singapore target market.
According to various researches there are various possibilities that manage the system architecture and operational excellence within any organization in managing the system effectiveness within Singapore marketplace (Dent & Whitehead, 2013). In contrast with these facts, there are various aspects that include effective system architecture and also reduce negative impact of retirees within organization. These people are getting involved within training programs that are managed with the help of organizational effectiveness. The organizational effectiveness is entirely dependent on the knowledge management and organizational learning principles that are adopted and selected by the specific organizations with respect to various critical aspects involved within the system architecture of the concerned organization.
Conclusion
This can be concluded that this essay is elaborating about various critical aspects involved within the impact analysis for the publishing of RRA act that has affected the workforce of Singapore from various significant area of consideration. In addition to this, there are various aspects that includes Human Resource Management, Knowledge Management and Organizational Learning those influences the workforce of Singapore up to next five years for managing their competitive advantages and Innovations with respect to target market. In contrast with these facts, these facts and aspects are elaborated in this essay with respect to various important concepts of these four management processes within the competitive market of Singapore.
References
Aggestam, L. (2015). Learning organization or knowledge management–Which came first, the chicken or the egg?. Information technology and control, 35(3).
Alegre, J., Sengupta, K., & Lapiedra, R. (2013). Knowledge management and innovation performance in a high-tech SMEs industry. International Small Business Journal, 31(4), 454-470.
Becerra-Fernandez, I., & Sabherwal, R. (2014). Knowledge management: Systems and processes. Routledge.
Bharati, P., Zhang, W., & Chaudhury, A. (2015). Better knowledge with social media? Exploring the roles of social capital and organizational knowledge management. Journal of Knowledge Management, 19(3), 456-475.
Dent, M., & Whitehead, S. (Eds.). (2013). Managing professional identities: Knowledge, performativities and the’new’professional (Vol. 19). Routledge.
Hislop, D. (2013). Knowledge management in organizations: A critical introduction. Oxford University Press.
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Holtshouse, D. K. (2013). Information technology for knowledge management. U. M. Borghoff, & R. Pareschi (Eds.). Springer Science & Business Media.
Jones, G., & Sallis, E. (2013). Knowledge management in education: Enhancing learning & education. Routledge.
Noruzy, A., Dalfard, V. M., Azhdari, B., Nazari-Shirkouhi, S., & Rezazadeh, A. (2013). Relations between transformational leadership, organizational learning, knowledge management, organizational innovation, and organizational performance: an empirical investigation of manufacturing firms. The International Journal of Advanced Manufacturing Technology, 64(5-8), 1073-1085.
Reich, B. H., Gemino, A., & Sauer, C. (2014). How knowledge management impacts performance in projects: An empirical study. International Journal of Project Management, 32(4), 590-602.
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Sultan, N. (2013). Knowledge management in the age of cloud computing and Web 2.0: Experiencing the power of disruptive innovations. International journal of information management, 33(1), 160-165.
Sunalai, S., & Beyerlein, M. (2015). Exploring Knowledge Management in Higher Education Institutions: Processes, Influences, and Outcomes. Academy of Educational Leadership Journal, 19(3), 289.
Weaven, S., Grace, D., Dant, R., & R. Brown, J. (2014). Value creation through knowledge management in franchising: a multi-level conceptual framework. Journal of Services Marketing, 28(2), 97-104.
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