3E Accounting Featured in The Straits Times on SME Challenges and Parental Leave Policies
Singapore, August 21, 2024 — 3E Accounting, a leading corporate service provider in Singapore, is pleased to announce that its Director, Ms. Abigail Yu, has been featured in a recent Straits Times article titled “SMEs Hope for More Support with Added Parental Leave, Large Firms Confident of Coping.” The article highlights the concerns of small and medium-sized enterprises (SMEs) regarding the impact of new parental leave policies announced during Prime Minister Lawrence Wong’s National Day Rally speech on August 18, 2024.
Ms. Yu, an esteemed leader within the SME community, provided valuable insights on the operational challenges that smaller firms face in adapting to these policy changes. With SMEs like 3E Accounting already navigating the complexities of limited manpower and resource constraints, the new mandate for extended parental leave presents implications for the sector.
Additional Strategies Might Be Necessary to Cover for Employees on Extended Parental Leave
“SMEs are generally more susceptible to such policy changes due to their smaller headcount,” Ms. Yu commented in the article. She elaborated on the proactive measures 3E Accounting has implemented to mitigate potential disruptions, such as maintaining extra capacity on standby and ensuring manageable workloads. However, Ms. Yu acknowledged that additional strategies might be necessary moving forward, including hiring more part-timers or considering outsourced solutions to cover for employees on extended parental leave.
Ms. Yu’s participation in the Straits Times article underscores 3E Accounting’s commitment to fostering a supportive and adaptable workplace environment while addressing the evolving needs of its employees. As the company continues to lead in corporate services, it also recognizes the importance of long-term sustainability and the need to balance operational efficiency with employee well-being.
The discussion initiated by The Straits Times highlights a broader industry conversation on how SMEs can navigate policy changes while maintaining business viability. 3E Accounting is proud to contribute to this article and will continue to explore innovative approaches to support its workforce in the face of new challenges.
