For the past few years, productivity growth had lack behind wage
increases, what that mean..that mean that, most industrial today
work on cheap labours to enhance their net profit, not by
productivity.
So, as the years go by, productivity grew into negative, and
that is scaring. And when govt tightened the foreign workforce, you
see those industrial who engage in lots of foreign workforce start
to panic and dunno what to do, because the skill of productivity
are lost, unlike in the 70s and 80s, where productivity is at its
highest, you do not need foreigners, the Jap taught us
productivity, innovative and automation, we all gain from it.
But today management fail miserably in productivity concept,
because they are pampered by cheap foreign workforce that do not
need much managment skill and brain to mantle with..just call 100
young foreign workers can get rid of 10 old local workers, business
will be good again. No need to invest in skill development,
robotics, RND and so on..