Laws Of Money

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In short

While the PMET wage growth remained flat, wages for workers with similar skills and experience grew by an average of 3.8 per cent, beating inflation. The figures were also higher for workers in the high-skilled, professional and management services, and financial and insurance sectors.

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Lower-wage workers had slightly less good news, with a 0.1 per cent increase in their overall wage.

A report by the Human Resources Institute of Singapore, part of the National University of Singapore Business School, showed that to meet the rising demand for skills, PMETs are expected to spend up to 10 per cent of their total income on learning over the next 10 years.

Singapore ranked higher than the global average in terms of the percentage of workers requiring tertiary qualifications, the institute said.

PREPARATION

Conduct a review of your learning needs, outline a learning plan for your key objectives and identify ways to get the most from the investments you are making.

Knowledge is power and you want to make the most of your learning in order to improve your business practices and effectiveness.

Google's non-linear approach to learning is a good way to identify areas of learning that are relevant to your organisation and get you off to a quick start.

Conduct career development assessments, including assessments to gauge knowledge, skill and competency levels.

This will also be a good time to reflect on the last year in particular, looking for changes and patterns in your job performance.

A career change, promotion or new job can be an effective means of "remaking" your career.

You will need to make sure you have the right support and get all relevant changes in place.

To help you establish a regular learning habit, allow for learning to be on your calendar and schedule regular review sessions.

Knowledge and skills are constantly changing. Recruiters can use 360 degree view of work experience, including the performance, impact and other aspects of the job, as criteria for potential employees.

Be on the lookout for local and international activities where you can broaden your skills and knowledge. For example, participating in industry associations such as SkillsFuture Singapore's Health Industry Readiness for Careers Program, can help develop soft skills for your role.

While you may be worried about the cost of training, it will be money well spent.

SEARCHING FOR RESOURCES

Chamber of Commerce and Industry Singapore (CCIS) president Bernd Tse said: "A significant transformation has begun in Singapore, where our people are more actively looking for work, actively seeking out new opportunities and actively seeking out more learning to help them to be more successful in their career journeys."

The changes, Mr Tse said, are driven by several factors, including the increasing complexity of the world today.

"It is clear that in order to remain competitive and relevant in a fast-changing world, organisations need workers who can take advantage of digitalisation.

"The drive towards becoming an agile, future-ready organisation is translating into a need for talent to be more nimble and adaptive. This ultimately leads to enhanced career prospects for us."

laws of money). In this conception, legal tender and commodity money are two different measures of the same thing and a debate about how currency should be subdivided is an irrelevant distraction.

Advocates of the Legal Tender view of money are much like those who hold the view that people should have rights to free speech and assembly and yet reserve the right to prohibit the advocacy of violence and inhumane actions.

While we shouldn’t allow proponents of both legal tender and monetary neutrality to monopolize discussion about currency, we should encourage both to join together to correct the misconceptions about the nature of money that permeate our society.

The views of Currency Neutrality and Legal Tender supporters often are regarded as similar in principle. However, a closer examination of the two positions reveals that their understanding of money is different. The Money Philosophy is radically different.

Money as commodity is drastically different from most other economic theorists. Because advocates of the Money Philosophy believe currency to be a tool of commerce, they interpret its value as intrinsically unstable (as a function of the population).