Government Funding and Assistance Schemes Available in Singapore: Upskilling And Retraining, Part III

Government Funding and Assistance Schemes Available in Singapore: Upskilling And Retraining, Part III

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In this article, we’ll look at the remaining upskilling and retraining support offered by the Government to companies and individuals.

 

IMDA Company-Led Training Programme (CLT)

The Company-Led Training (CLT) programme aims to accelerate professional development through on-the-job structured training programme for fresh to mid-level professionals acquiring competencies for jobs in the Digital Economy.

Companies may hire professionals for specialist tech roles, upskill existing employees to be expert-level specialists or digital tech leaders. Companies can customise a structured training plan for their needs. This would typically be a combination of instructor-led training, on-the-job training, mentorship, and local or overseas attachment where relevant.

Training will explore emerging areas such as 5G, Internet of Things, Cloud Computing, Digital Marketing and Enterprise Software As A Service (SaaS), and core ICT capabilities including Software Engineering, Cybersecurity, Data Analytics.

 

Training Partners under the programme will receive funding support for qualified items as follows:

  • Trainees’ Monthly Stipends/Salaries
  • Local or overseas training course fees
  • Overseas Attachment (Airfare and Cost of Living Allowance)

 

To qualify:

  • Individuals must be Singaporeans with qualification as deemed necessary by the company
  • Companies must be registered or incorporated in Singapore.

 

CLT is also directly applicable to individuals directly.

 

iNnovative Learning 2020

iN.LEARN 2020 is an experimental Continuing Education and Training (CET) program to meet the learning needs of business enterprises and individuals. This brings the training and learning to employers’ workplaces, saving time and the cost of sending employees out for training, while garnering a potential increase in business performance when the employees apply their skills directly at work.

SMEs that are keen to embark on learning innovation projects or trial new learning technology can apply through iN.LAB for SPRING’s Enterprise Development Grant (EDG). EDG will help defray up to 70 percent of the project costs subject to merit.

iN.Lab also hosts a series of miscellaneous resources, grants and infrastructure for CET trainers, partners and practitioners to develop their practice and share their knowledge.

 

P-Max

Professionals, managers, executives and technicians (PMETs) made up 76% of the locals who were retrenched in 2018. PMETs are becoming the new vulnerable group as highly skilled workers are in disproportionate danger of being retrenched. In order to mitigate the risk of them being displaced, Singapore has launched P-Max.

P-Max is a Place-and-Train Programme that aims to assist SMEs to better recruit, train, manage and retain their newly-hired PMETs, encourage the adoption of progressive human resource practices within SME and help to place job-seeking PMETs into suitable SME jobs. Firms that recruit PMETs may get a one-off $5,000 assistance grant ($10,000 if the PMET is above 50 years old) as well as HR assistance.

 

To qualify, SMEs must:

  • Be registered or incorporated in Singapore;
  • Have a group employment of not more than 200; OR Annual group sales turnover of not more than S$100 million;
  • Have at least 30% local shareholding; and
  • Have hired a PMET within the last 90 days prior to enrolment into programme, offering a gross monthly salary of at least $2,500.

 

The PMET must:

  • Be a Singapore Citizen or Permanent Resident who is keen to pursue a full-time career in an SME;
  • Possess educational qualifications that are Diploma or higher, or employed/have prior work experience in a PMET position; and
  • Have graduated or completed National Service for a minimum period of 12 months.

 

Professional Conversion Programmes (PCP) for Employers

Place-and-Train

To encourage employers to take on mid-career switchers without the requisite experience or skills, the Place-and-Train programme provides up to 70% of monthly salary (capped at $4,000) and 70% of retraining course fees to employers who have hired Singapore Citizens. For Singapore Citizens who have been unemployed long term, or are over 40 years old, this is enhanced to 90% per month (capped at $6,000) and 90% of retraining course fees.

 

Attach-and-Train

Under the Attach-and-Train programme, PMETs may be provided with training and work attachments, before job placement in growth sectors with good future job opportunities. Trainees may obtain training allowance of between 50-70% of base salary, and up to 70% of the course fee. For SC/PR trainees sponsored by SMEs, or Singapore Citizens who are above 40 years old, support can be extended to 90% of course fees. To qualify, employers:

 

  • Must co-fund at least 10% of the salary;
  • Are strongly encouraged to offer employment to eligible trainees who have met satisfactory training and performance requirements.

 

CONCLUSION

That is all for Government-assistance schemes with regard to training and upskilling for individuals and companies. Stay tuned for next week when we continue exploring government assistance providing support for internationalisation for Singapore companies.

At Silvester Legal, we work extensively with SMEs and start-ups to understand our clients’ needs. We want our clients to take full advantage of the opportunities available to them as they pursue their business ventures.

 

Disclaimer: The materials prepared here are for general information purposes only to inform you about Silvester Legal LLC, our services and related matters. The information presented is not legal advice and is not to be acted on as such.

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