There’s nothing better then getting something that our truly need. Except, maybe when someone else is paying for it? We’re blessed in Singapore to have a structured and forward thinking Government that knows how to pamper it’s citizens and yet secure our economic future – How? With government grants in Singapore for training. Read about the best 2 below (in our opinion).
The SkillsFuture Mid-Career Enhanced Subsidy is a government grant in Singapore that supports and encourages lifelong learning and helps Singaporeans stay responsive to a changing workplace. Acknowledging that mid-career individuals may face greater challenges and have higher opportunity costs in undertaking training, this programme aims to encourage mid-career Singaporeans to upskill and reskill.
The SkillsFuture Mid-Career Enhanced Subsidy is for Singaporeans aged 40 years old and above. Unfortunately, this is not available to Permanent Residents or Pass Holders at this time.
Eligible individuals will receive higher subsidies of up to 90% of course fees, applicable for over 8,000 SSG-supported courses. On top of this, eligible individuals will receive at least 90% of programme cost for MOE-subsidised full-time and part-time courses ranging from Nitec to postgraduate level in the following institutions.
More information on benefits, eligibility and sign-up can be found here.
The SkillsFuture Enterprise Credit (SFEC) is another type of government grant in Singapore that provides funding support to encourage employers to invest in enterprise transformation and capabilities of their employees. Eligible employers will receive a one-off S$10,000 credit to cover up to 90% of out-of-pocket expenses on qualifying costs for supportable initiatives, over and above the support levels of existing schemes.
Existing programmes eligible for the $10,000 credit are:
In an effort to prioritise skills transformation for workers, $3,000 of the credit will be designated for Workforce Transformation, with the remaining $7,000 available for both Workforce Transformation and Enterprise Transformation.
Employers who meet the following conditions will qualify for the SFEC:
(PRs) every month over the same period; and
The four qualifying periods are:
You can view the SFEC framework-aligned courses here.
Most people jump at these opportunities for the very reason that it is almost free. However, this reason misses the main point and benefit of these grants. They are rolled out for the purpose of creating greater accessibility to a wealth of resources to help you attain skills mastery. And the best part is, it is applicable to all Singaporeans at different stages of their lives, regardless of their starting point.
Beyond being an industry buzzword, upskilling has connotations that determine the relevance of an individual or a business in light of evolving industry demands. How individuals and businesses respond to these changes will largely define the outcome of your business.
On a business level, good employees should be adaptable and forward-thinking, hence the investment in education is an indispensable cost to any business looking to stay relevant and afloat industry trends.
In fact, making use of the available grants is a cost-efficient and economically sound for all Singaporean businesses. It helps businesses to remain competitive and capitalise on the talent they have, reducing the need for further recruitment and hiring costs. Moreover, having a knowledgeable and agile team will also do wonders for productivity and ensure business continuity by having the right talent in the right place.
All in all, investing in your employees’ education can contribute to greater employee engagement and retention, creating a direct impact on your company’s bottom line.
On an individual level, many workers are at greater risk of job displacement due to mismatch of skills. This problem will continue to surge when a large number of the workforce does not possess the relevant knowledge or skill set qualifying them for available job opportunities.
Even for employees with presumably stable jobs, digital automation and Artificial Intelligence have become commonplace technologies that continue to grow in capabilities and range of application. Fortunately, “automation is not a singular trend” and the outcome on the economy is determined by an array of factors from good business planning (identifying and counteracting disruptive forces to good leadership planning (learning to manage humans and machines).
According to a Forrester report, “As much as companies must become learning institutions, so must employees become learners — learning core skills, adapting to new working models, and understanding what it means to be ready and fit for the future.” In short, upskilling helps employees to stay relevant, enhance job security, and boost employability prospect.
At Auston Institute of Management, you can expect a quality learning experience through compact and insightful courses that are sure to give you the edge you need in sales and marketing.
From creative thinking to consumer strategy, our courses are kept up-to-date with industry trends and are specially designed to help learners transit from a beginner level to a seasoned practitioner.