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Government Funding Initiatives + Training Budget - Coggle Diagram
Government Funding Initiatives + Training Budget
Government Funding Initiative
Benefits
Organisations
Employees experience low turnover rate and increased productivity at work
Economy
Reduces unemployment
Objective of Government Funds
To encourage enterprises to embark on the transformation
Importance of Government Funds
Helps organizations cope better financially and assist them with their external funds
Existing Government Funds
Enterprise Portal for Jobs & Skills
Enterprise Transformation
Workforce Transformation
SkillsFutureSG & Workforce Singapore (SSG-WS)
Enhanced Training Support for SMEs (ETSS)
Enhanced Training Support Package and Enhanced Absentee Payroll (ETSP & AP)
Senior Worker Early Adopter Grant and Part Time Re-Employment Grant Employers (SWEAG & PTRG)
Definition
Financial assistance for non-government organizations in the form of grants, loans and subsidies.
Training Budget
Definition
How much money should be set aside for sending employees for training
Objective of Training Budget
Plan the best resource allocation
Importance of Training Budget
Forces organization to evaluate employees' skills and knowledge gaps.
Components of Training Budget