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The problem and the solution. Singapore provides an interesting case study of human capital development (HCD) as national strategy. Its human resource strategies have been continuously revised and adjusted in conjunction with other national strategic economic policies. Although some studies have been done on microlevel human resource development (HRD) practices, very little research has been done on the strategic and macrolevel policy perspectives. This article presents an analysis of macrolevel HCD strategies in Singapore from a national policy perspective and describes the elements of the HRD infrastructure.
Keywords: Singapore; national policy; human capital development
Human resources have been identified as the single most important strategic capital for Singapore. A small country with virtually no natural resources, Singapore has become one of the most developed countries in Asia primarily due to its strong emphasis on developing human resources and for continuously making significant investments in its human capital. Human resource development (HRD) has always been a core element in its strategic economic plans, as reflected in the eight strategic thrusts of its Strategic Economic Plan (Ministry of Trade and Industry, 1993; C. Tan, 1996; Wong &Ng, 1993). The outcome of these initiatives could be found in the reports of the U.S.-based organization Business Environment Risk Intelligence (BERI), which has ranked Singapore's workers as the best in the world for relative productivity (Standards, Productivity and Innovation Board, 2003). Also, the World Competitiveness Yearbook of the International Institute for Management Development (IMD) placed Singapore's workforce competitiveness at par with that of the United States and other developed countries (Ministry of Manpower, 2003a). In the early days of its economic development, the efforts at HRD came under the rubric of manpower development, general education, technical education, and training. As it moved from investment-driven economic growth to that which is driven by innovation, together with its emphasis on the regionalization and globalization of business, the government has embarked on more sophisticated HRD strategies. The HRD strategies have been continuously revised and adjusted in conjunction with other national strategic economic policies. Singapore is thus a unique case that exemplifies the benefits of national HRD policies and strategies. Although there have been some studies done on microlevel HRD practices, very little research has been done in this respect on the...