'Employers should think twice before laying off their people, as recruitment and training costs can also be very high,' said Dr Ahmad Magad, MP for Pasir Ris-Punggol GRC on Wednesday. He also chairs the Government Parliamentary Committee for Manpower.

'They should take the longer-term view and take advantage of this period help their staff hone their skills and improve themselves,' he added.

He was speaking at the launch of the Practising Management Consultant Certification Scheme (PMCCS), which aims to raise the standard and professionalism of the management consulting industry.

First announced last Oct, the scheme requires candidates meet a stringent set of criteria including diploma qualifications, at least five years of experience, taking training courses and passing an exam to obtain accreditation.

The industry-led initiative followed a rising number of complaints about the varying levels of management consultancy services in Singapore.

It is conducted by the Practising Management Consultant Certification Board which operates independently to award the accrediation.