Most employees across the world demonstrate keen interest in upskilling themselves, but they need government’s help to provide financial aid for that purpose. According to recent study commissioned by Randstad, about eight in 10 employees globally said that they seek government’s training incentives such as tax rebates and subsidies when they want to develop professional competencies.
Office workers in the Southeast Asia region show even higher enthusiasm towards this statement, as majority 90 percent believe that they should receive incentives if they remain employed or have upskilled themselves.
In Singapore, a whopping 92 percent said that the government should offer incentives to employees if they choose to develop their professional competencies in particular field or stay in the workforce. Experienced professionals are also more eager to receive these incentives than the younger ones, as they are likely to pay more for training programmes to deepen their professional capabilities. The survey also revealed a higher expectation of getting government’s incentives from the female population (94 percent) than men (87 percent).
Commenting on the findings, the Managing Director of Randstad Singapore, Jaya Dass said that amidst the rapid rate of change in today’s business landscape, it is crucial for the workforce to constantly stay abreast of the latest trend in order to advance in their careers. Singaporeans who want to deepen their capabilities and acquire relevant skills and experiences can tap into public programmes initiated by the government such as SkillsFuture and Professional Conversion Programmes (PCPs). By doing so, they can deliver higher value to their jobs.
“Local institutions are already providing subsidised courses to encourage professionals to upskill and re-skill. With the acquisition of new knowledge and deeper capabilities, employees will also be able to command a higher salary and benefits package due to limited talent in high-demand sectors,” he added.
Meanwhile, employees in Hong Kong SAR also share similar expectation when it comes to training and development incentives. 91 percent staff in Hong Kong say that the government should provide subsidies to motivate employees to stay employable or to develop more skills. There is also a slightly higher expectation from the male population (92 per cent) than women in the workforce (90 per cent). The younger employees between the age of 18 and 34 expect more financial support from the government to acquire highly demanded skills to potentially offset or better manage the high cost of living in Hong Kong.
The survey was also conducted in Malaysia, where it was found that nine in 10 employees in the country expect more incentive support from the government to encourage them to retain their employment status. However, despite it being higher percentage than the global average, it remains the lowest across the three markets surveyed by Randstad. More women in the workforce said that the government should offer policy incentives (92 per cent) as compared to men (89 per cent). Additionally, unlike Hong Kong, there are more experienced professionals in Malaysia (93 per cent) seeking policy incentives from the government to ensure employability.