A study and analysis of fringe benefits in the shipbuilding and repairing industry

• Main Authors: Lim, Sock Leng, Tay, Cheong Soon, Boon, Pui Phay
• Other Authors: Nanyang Business School
• Format: Final Year Project
• Language: English
• Published: 2014
• Subjects: DRNTU::Business
• Online Access: http://hdl.handle.net/10356/58577
• Institution: Nanyang Technological University

The Shipbuilding and repairing industry evolved in the 19th Century; this report seeks to gain a broad understanding of this still-vibrant industry and in particular, analyse the trends of the employment terms for the past 24 years. By doing so, one may understand the extent to which the industry has progressed with respect to the terms of employment from t~e Singapore legislations. The data are collected mainly from the industrial relations supplements beginning 1970 till 1993 . Literature review, interview, as well as publications from newspapers and other periodicals have contributed much of the needed information to the report. Results of the analysis show that employers had increased the retirement age of workers to age 60 even before the legislation. There is an increase in the provision of retrenchment notices to union as well as the fixation of retrenchment benefits. However, retrenchment notices to staff had decreased in terms of length of notice. A lot of agreements provided more favourable terms for annual, but not sick and hospitalisation leaves. There is also an increase in the provisions for other leaves in the events of paternity, funeral, union education, etc. Hospitalisation and other medical benefits have improved in terms of better wards, more allowances and more choices in out-patient visits. More varieties of allowances and other benefits are also provided by the employers. Thus, we may conclude that employment terms of workers have improved over the years. Issues like rising costs, greying population, and safety threaten the continued growth ofthe Shipbuilding and repairing industry. Companies must ensure that their resources are effectively utilised and increase their efforts in training their workers. Relocation of cheaper, low-end operations to neighbouring countries will also help to reduce operating costs. Continued efforts by the Government, uruons, employers and employees is essential in enhancing safety in the shipyards.