SINGAPORE — The Ministry of Finance has reminded employers to make their full Central Provident Fund (CPF) contributions for their employees by Jan 14 to…
MOM Introduced New Scheme to Help Firms Tap Foreign TrainersGENERAL Management NEWS People Development October 11, 2017
Under a new scheme piloted by the Ministry of Manpower, local companies can tap into foreign trainer potentials from overseas to help fill skill gaps in their organisation. Named as the Capability Transfer Programme, the initiative will help boost crucial areas in which local companies lack expertise.
During Human Capital Partnership event on Tuesday (Oct 10), Minister for Manpower Lim Swee Say said the programme will focus on small and medium-sized enterprises and organisations that have high impacts on the entire industry. Mr Lim gave an example of a local interior furnishing company which wanted to improve its capabilities in healthcare interior furnishing. The scheme will provide 30 to 90 percent of co-funding that can be used to salary and training support to both foreign and local trainers.
First launched in November 2016, the programme aims to help employers develop their workforces. Besides local training, the new funding support will be available for overseas on-the-job-training as well. Additionally, the ministry will also help facilitate work permits for foreign trainers if needed, Channel News Asia reports.
Mr Lim emphasised that Singapore needs to ensure that it has more innovative and productive economy in the future. He also pointed out that it is important for all parties to work together in creating a more inclusive future growth. Further, Mr Lim said that Singapore’s resident working-age population is projected to see a declining figure for about 0.1 percent per year on average from 2015 to 2025, indicating a reversal from 1.3 percent annual growth between 2005 and 2015.
Meanwhile, the Human Capital Partnership Programme has been extended to invite 56 more new participating companies, including BreadTalk, Gardens by the Bay and Jurong Port, bringing the total number of partners to 130.
In an effort to give better support for industries and companies, the Ministry of Manpower and Workforce Singapore are also collaborating with other agencies such as the Economic Development Board, SPRING Singapore and the Singapore Tourism Board.
“We all share the same objective of speeding up capability transfer by reaching out to a wider base of companies in more sectors, so as to improve the skills and capability, jobs and careers of our local workers,” said Mr Lim.
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