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New SkillsFuture Scheme to Help Companies Provide Better Training

May 17, 2018

As part of the efforts to help firms in Singapore make training and development as key part of the business strategy, the Ministry of Manpower (MOM) is set to roll out a new SkillsFuture scheme.

With further details to be unveiled later this year, MOM stated that the initiative will help employers develop better human resource systems, structures, and processes so they can provide better training and development program for their employees.

Speaking in an addendum to the President’s Address on Thursday (May 10), Manpower Minister Josephine Teo, the new initiative aims to better support companies in growing and expanding into overseas markets. Aside from the scheme, Mrs Teo said MOM is looking to work towards creating a more inclusive workforce, more progressive workplaces, as well as providing workers with better retirement plan, Straits Times reports.

She also urged businesses to stay abreast with latest trend and transform. To spur this transformation, MOM will work through economic agencies to provide selective flexibility in its foreign manpower policy to help businesses and industries meet short-term or emerging skills gaps.

Read also: Maybank Allocates RM30 Million to Improve Employee’s Digital Literacy Programme

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