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Various Government Initiatives and Training Budget (Grants (Professional…
Various Government Initiatives and Training Budget
Definition: Initiative is specific projects or programs undertaken to achieve specific objectives in the near-term, such as to reduce costs, increase efficiency, and improve sales performance.
Advantages
receive generous amounts of money
Once you have obtained one grant, you are more likely to receive others
Improves your organization's visibility and credibility.
Disadvantages
Competition is fierce, and the success rate is low.
Slow reimbursements
Increased monitoring of program activities
Initiatives
SkillsFuture
Earn and Learn Programme
Skillsfuture Credit
iNLearn 2020
WTS Scheme
Individuals
Employers
Grants
Professional Conversion Programme (PCPs)
Productivity- Max (P-Max) Programme
Enhanced Training Support for SMEs
Capability Development Grant (CDG)
Workforce Training and Upgrading (WTU)
WorkPro
Workforce Singapore
Objective
Help workers meet their career aspirations
secure quality jobs at different stages of life
Develop a manpower pipeline to support industry growth
Match the right people to the right jobs.
Training Budget
Definition: How money can be allocated for training development and delivery for an organization
Effectiveness
Forecasting
Planning
Monitoring
Flexibility
Elements of a good training budget
Prioritising training needs
Planning a comprehensive Training budget
Budgeting for training needs
Using E-Learning to maximise your training budget