BUCK up are two words companies can say more easily to employees in a recession, without fearing they will get angry and quit.

Employees are more receptive to improving themselves in such times, and overall, the company can use the time to prepare workers for the next economic recovery, veteran human resource practitioner Elizabeth Martin-Chua told The Straits Times.

The just-retired senior vice-president with Royal Philips Electronics was speaking on the sidelines of the inaugural Singapore Human Capital Summit.

She echoed what other business executives at the conference said: That a recession presents opportunities for companies to spot potential leaders, ramp up training of workers and build up trust between management and employees.

At a gala dinner last night for conference participants, Acting Manpower Minister Gan Kim Yong called on the business and other leaders present to keep investing in their workforce in a downturn.

'I urge all organisations not to let up on talent development efforts and cut back on investments in human capital.

'When the economy recovers, organisations with a team of talent and skilled personnel would be better positioned to take full advantage of the new opportunities.'

Mr Gan launched an award given by his ministry and French business school Insead to recognise Asian-based organisations with exemplary human capital management practices. He also introduced two new sets of national-level competency standards - in human resource, and in leadership and people management.

They are part of a growing pool of certifications for workplace skills that are designed to be comparable to formal academic qualifications.