On July 7, 2023, Mr. David John Whitehead, Chairman of the Mavin Group's Board of Directors, attended the Singapore Regional Business Forum 2023 (SRBF 2023) held in Hanoi and participated in a panel discussion on the Future of Human Resources.
SRBF 2023 is one of the significant events celebrating 50 years of bilateral relations and 10 years of Strategic Partnership between Singapore and Vietnam. The event attracted the participation of over 800 business leaders, senior government officials, and diplomats from more than 420 companies and organizations representing 32 countries and economies. This is the first time the Forum has been organized outside of Singapore's borders.
Singapore Regional Business Forum 2023 to be held for the first-time outside Singapore's borders.
At the event, representing one of Vietnam's leading agricultural corporations, Mavin Group, Mr. David John Whitehead joined the panel discussion on the "Future of Human Resources - The Evolution of Work, Workforce, and Workplace." The discussion saw participation from representatives of various organizations, including the Singapore Business Federation, PWC Vietnam, BIPO, Vero, Glints, and others.
As per the theme of the panel discussion, it was agreed that the future of work is rapidly transforming. Artificial intelligence, machine learning, smart manufacturing, and automation will reshape jobs, similar to the way industrial revolutions have done in the past. Some jobs will disappear, and new ones will emerge, but most jobs will undergo changes in one way or another.
"The challenges posed by artificial intelligence, automation, and machine learning create difficulties and opportunities for both businesses and the workforce. Digital transformation and advanced technologies bring efficiency in production and may lead to cost reduction. However, they will also create and develop new roles in the workplace. Companies need to be prepared to adapt, and the workforce must be ready to enhance their skills and undergo retraining to align with the ever-changing business environment," stated Mr. David John Whitehead during the panel discussion.
Mr. David John Whitehead spoke about the Future of Human Resources at the panel discussion on July 7
He emphasized the importance of training and developing human resources aligned with the company's mission, vision, and core values. Particularly in an era where AI can replace some human tasks, businesses should consider developing new positions and roles in the workplace, and individuals should be prepared to adapt to the new business environment, rather than fear being replaced by artificial intelligence.
Mr. David and other panelists also analyzed how the pandemic has accelerated macro trends and forced businesses to reevaluate their work environment, including geographical positions, human resources, and skill sets.
"When we talk about human resources, employees, workforce, or human capital, we are essentially talking about 'people.' Companies need to recognize that people are individuals with specific needs and ambitions in the workplace. They will give their best in an environment that is safe, flexible, supportive, fair, and offers them responsibilities, allowing them to see how their capabilities contribute to making a difference for the company, the industry, and the country."
"We don't just 'hire' a person; we utilize a resource with various skills, experiences, and expertise. To make the most of this resource, we must be flexible and understand the needs of each individual we recruit." Chairman of Mavin shared.
Under the theme of "Enhancing Regional Collaboration for Sustainable Growth," SRBF 2023 aims to expand economic relations and forge stronger ties between Singapore and Vietnam.
The decision to host the 7th SRBF® in Vietnam reflects the importance of developing bilateral relations and expanding business cooperation into new growth areas for Singapore, such as the digital economy, cybersecurity, clean energy, sustainable development, and smart cities."