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Government Initiatives and Training Budget (Various Government Initiatives…
Government Initiatives and Training Budget
Training Budget __ Forces an organization to assess and forecast short- and long-term skill and knowledge gaps, plan the best resource allocation and monitor effectiveness.
Benefits
Ensures
Readiness
in Employees
Help to make
better Investment Decisions
for Sponsors and Stakeholders
Helps to
Align
training programmes to Organisation's goals
Helps to
Monitor
the effectiveness of Programmes
Training Managers
are in-charge of planning, managing and developing Programmes
Why Leverage on Government Initiatives
'Free' Funding
Government Agencies are more willing to take risks than Banks/Investors
Company receives Validation
More Credible, Attracts more Investors
Various Government Initiatives
Funding for Workfare Training Support
(WTS) Scheme
Encourage employers to sponsor lower wage employees for training by providing up to 95% course fee subsidy
To Qualify, employees have to be;
A Singaporean Citizen
Aged 35 Years and Above (13 Years and above for persons with disabilities)
Earn an average gross monthly income of not more than $2,000 for the months worked.
Enterprise Training Support Scheme
Training Grant
(Up to $200,000 per company)
Curriculum Contextualisation and Alignment Grant
(Up to $52,000 per company)
HR Development Grant (One-time Grant)
(Up to $60,000 per company)
Compensation and Benefit System Review Grant
(Up to $15,000 per company)
Capability Development Grant
(One-time Grant of $20,000 per company)
Career Trial
Employers can assess jobseekers’ job fit through a short-term work trial before offering employment paying $1,500 or more to suitable Singapore Citizens.
30% of monthly salary will be
subsidised
by the government for up to 6 months, capped at $5,400 per hire,
SkillsFuture Mid Career Enhanced Subsidy
Supports and encourages lifelong learning and helps Singaporeans stay responsive to a changing workplace
for Singaporeans aged 40 years old and above.
Eligible individuals will receive higher
subsidies of up to 90% of course fees
for over 8,000 SSG-supported courses with effect from 1 October 2015, and at least 90% of programme cost for MOE-subsidised full-time and part-time courses