With intent to tackle the skilling crisis amid technological disruptions, the government of Singapore will give firms an opportunity to tap an extra 10 percent in funding support through the Enterprise Development Grant, but only if they work with unions to train workers.

The opportunity to get extra funding will be provided from 1st April next year by the National Trades Union Congress (NTUC). The Enterprise Development Grant currently provides up to 70 percent of project costs for companies to upgrade, innovate and venture overseas. Further, the extra funding will apply only to unionized companies and partners of the Employment and Employability Institute which set up company training committees (CTCs).

In addition to the grant, earlier, NTUC Secretary-General Ng Chee Meng had shared in his May Day message that NTUC will set up 1,000 CTCs over the next three years.

Addressing more than 1,600 unionists, workers, employers and Cabinet ministers on his first day as Deputy Prime Minister, Heng said, “The relationship between companies and workers is a mutually reinforcing one. More competitive companies provide better jobs and higher pay for workers, and highly skilled workers make companies stronger, more productive, and more competitive.” 

Besides future-proofing the skills of the workforce, Heng said that it’s crucial that companies commit themselves to other positive worker outcomes, such as raising salaries. 

Singapore has repeatedly emphasized the need for skilling its workforce and has continuously been making investments in promoting the culture of learning across companies in the country. 

As Heng also shared in his speech preparing workers for the jobs of the future through lifelong learning is one of three key strategies as the nation transforms. He believes that technological advancements should help workers do their jobs better and not replace them. 

Among the many skilling initiatives led by the government, SkillsFuture and Professional Conversion Programmes have helped workers do well amid the economic transformation. However, despite so many efforts there still remains a gap when it comes to preparing for the skills of the future.  

Future-proofing the skills of the nation is a journey and it shall continue as the government works on more initiatives and strategies to accelerate towards the milestone.  

I