A total of 296 companies have already signed on to a new tripartite standard that specifies better employment conditions for term contract employees.
Launched yesterday, the new standard identifies and recognises progressive employers who are committed to practices that go beyond what is required under the Employment Act in the key areas of leave benefits, notice period and training.
Among the early adopters are DBS Bank, OCBC Bank, The American Club, Resorts World Sentosa, Rajah & Tann and several employers in the government service.
In total, they account for about 26,000, or around 15 per cent, of all term contract employees in Singapore. About 10 per cent of resident employees, or about 170,000 workers, are on term contract arrangements.
