The Benefits of SkillsFuture for Employers
The Benefits of SkillsFuture for Employers

By Geralyne Kaye

Posted on 05 September 2016

HR strategiestight labour marketSkillsFuture
 
Earlier this year, the Singapore government launched the SkillsFuture initiative to encourage Singaporeans to take charge of their personal training. With an initial credit of $500 given to every eligible Singaporean, the initiative has been a success with a relatively high adoption rate. More courses, programmes and initiatives have also been added under the SkillsFuture umbrella, to increase its reach since inception.

Aside from the better known SkillsFuture Credit initiative for the general public, there is another arm of which caters especially to employers. This side of SkillsFuture for employers, focuses on helping companies cope with manpower shortages and talent acquisition, by opening up an avenue to train prospective candidates.
Here are two programmes under the SkillsFuture initiative, created to benefit employers and companies at large.

 
P-Max
Catered to Small and Medium Enterprises (SMEs) seeking to hire Professionals, Managers and Executives (PMEs), the purpose of P-Max is to help SMEs better manage their manpower resource. This initiative follows a two-pronged approach, firstly to help SMEs attract and retain suitable PME talents. Secondly, to encourage SMEs to adopt better human resource and communication practices within the company. 

P-Max operates by having appointed Programme Managers (PMs) match relevant PME candidates to SME job vacancies. Once successfully matched, SME supervisors and PMEs will then attend pre-dictated workshops. Upon completing these workshops, PMs will monitor the progress of both PME and SME representatives for a period of six-months. SMEs which successfully retain their PME employee after the six-months, will be eligible for a one-off grant of $5,000.

Eligibility:
·        SMEs must be registered or incorporated in Singapore
·        Annual sales of not more than $100 million
·        Company of not more than 200 employees
·        PMEs must be Singaporean and have at least one year of full-time working experience

 
SkillsFuture Earn and Learn Programme
The fundamental features of the SkillsFuture Earn and Learn Programme are similar to an attachment or internship programme. While this programme is designed to give fresh graduates from polytechnics, and the Institute of Technical Education a quick start to their career, employers also stand to benefit. The programme aims to promote growth in specific sectors, and be a viable solution for companies who experience manpower shortages. 

Similar to P-Max, PMs will match your company’s job vacancy with a suitable candidate based on their certifications. Employers would need to provide these candidates with the relevant training and mentorship needed for them to perform their assigned roles. To help cover the costs of training, companies will receive up to $15,000 in grants per individual hired - upon completion of the 12 to 18 month on-the-job training.

Eligibility:
·        Company must be registered or incorporated in Singapore
·        Graduates must be Singaporean


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