Peg consultants' fees to productivity improvements
THE Government is leaving no stone unturned in its push to raise productivity ("What's out: Outsourcing?/What's in: Insourcing"; Dec 22).
There are numerous examples from around the world, such as in Scandinavian countries and General Electric in the United States, on how innovation and productivity have helped companies and economies compete in the international market and be more cost-effective.
Singapore has had enough of cheap labour. Businesses, especially small and medium-sized enterprises (SMEs), should turn to productivity. This will enhance our confidence to do business in the open market.
One possible reason why SMEs are not engaging consultants is that they are unable to gauge the consultants' efforts.
One way to attain good results is to have the consultants' fees tagged to improvements in the business process. This will mean a win-win situation for both the consultants and SMEs.