The first time he stepped into Temasek’s sixth-floor reception, Lim Boon Heng’s attention was held by a framed quote on the wall: “We must do things today with tomorrow very clearly in our minds.”

It had been delivered by S Rajaratnam, Singapore’s founding Foreign Minister in his 1966 National Day Message. But that day in 2012, it served as a reminder for the newly appointed Director to Temasek‘s Board of why he was there, and what was at stake.

“I benefited greatly from the work of past generations, and now, we have to do the same – navigate the challenges we face with the future in mind.”

It proved especially poignant when a few years in, Temasek sought his input on a platform that could facilitate dialogue and collaboration between key stakeholders shaping Singapore's workforce. The concept behind the Temasek Tripartite Conversations (TTC) was simple: as the pace of change picks up, solid relationships would be key in navigating the ensuing complexities with mutually beneficial outcomes in mind.

“If we could have a meal and get to know one another, we could facilitate a common understanding and a foundation for future discussion,” explains.

What he brought to the table was 30 years of facilitating similar conversations as Secretary-General of the National Trades Union Congress (NTUC) and Minister in the Prime Minister’s Office.

“I have been – and still am – a bridge.”

An investment in potential

The decision to join Temasek – and then to assume the role of its fourth Chairman a year later – were not decisions Lim had taken lightly. When the naval architect was offered the opportunity to make the move from Neptune Orient Lines to join politics in the early 1980s, he had spent about a day thinking about it. He mulled this move to Temasek for over a month.

“I knew little about investing at that time,” he laughs, “but Temasek had enough good people who did. What I did know about was how to operate a company, and I understood people. My time with NTUC and in politics helped me understand their hopes, aspirations and fears – and focus on how their lives could be made better.

“At Temasek, that purpose continued.”

He recalls one of the earliest conversations he had with former CEO Ho Ching about TTC, when she drew on Temasek’s experience with helping to restructure Singapore’s power generation companies at the turn of the decade. The various parties had to work through manpower priorities that sometimes pulled in different directions, and embrace the need for change. She was convinced that Temasek could play the role of “facilitator” in other contexts.

In 2017, the TTC was launched as a closed-door “makan session”. Since then, it has struck up critical and varied conversations over dinner, durians, and drinks, on topics ranging from the impact of technological disruption to emerging “green jobs” created by climate action. As he kicked off the conversations each year, Lim rallied union representatives, corporate leaders and policymakers to candidly exchange insights and explore perspectives – and they did.

The relationships formed proved invaluable as parties in embattled sectors like air transport came together to preserve jobs, cut costs, and reskill and upskill workers when COVID-19 sent shockwaves through the economy in 2020.

“Relationships have to be built all the time, not only when you have a crisis or when you have to make a transformative change,” says Lim. “When you are having an ongoing conversation, facilitating change becomes much easier.

TTC provides a platform for these conversations to take place.

“When you look at the news and what’s going on around the world, a lot of labour conflicts arise because of a lack of communication, and it really is not necessary to repeat those mistakes...You can go further when there is already trust between the various parties.”

Driving sustainable success

As TTC continues to evolve, it has embraced even hotter topics. Most recently, these have centred around the debates – and escalating anxieties – over emerging technologies like Generative AI. For Lim, some of the arguments have been all too familiar.

He remembers how, in the 1980s, when Singapore was embarking on computerisation, workers resisted the expensive and unfamiliar machines that they were convinced would take over their jobs. A task force came up with a 10-part course to win over wary public sector workers.

“In the first lesson, we learnt to use the keyboard, and in the second, everyone played Pacman. After that, no one was scared anymore,” he laughs.

The reality is that technology will continue to race forward, and the world of work will only keep changing, he says. Doing its part to facilitate the conversations that allow both companies and communities to thrive is how Temasek can remain true to those important words on its wall, says Lim.

It also ensures that the work Temasek does lives up to its purpose.

“So Every Generation Prospers are four beautiful words that express what we hope our work will achieve. That’s our North Star.

“It is something that every generation of workers at Temasek will have to think about… so we continue to create a bright future for both current and future generations.”