Invest in your workforce and boost business outcomes
Investing in the career health of your workforce should be part of your business growth strategy. In today's labour market, the ability to attract and retain talent across all segments of your workforce is crucial for the success and sustainability of
companies. Talent acquisition and retention are no longer a HR exercise; they are strategic imperatives that directly impact an organisation's performance, innovation, and long-term growth.
Building a workforce that continuously harness new skillsets and acquire new capabilities can help your business adapt to the rapidly evolving market and stay competitive.
Skills-based Hiring
Skills-based hiring is an approach to recruitment that focuses on assessing and selecting candidates based on their specific skillsets and abilities rather than relying on traditional academic qualifications or previous job experience. By placing an emphasis on practical and applicable skills that have been demonstrated by candidates, employers can widen their talent pool and better navigate the competitive talent market.
How can employers practice skills-based hiring?
MyCareersFuture | Employers can streamline skills-based hiring through MyCareersFuture’s Talent Search and Suggested Talent tools. These features enable employers to identify and reach out to candidates with the relevant skill sets who haven't applied directly to their job vacancies. |
Career Conversion Programme (Place-and-Train) | Employers can identify potential candidates and reskill them through On-the-Job Training (OJT) or industry-recognised training to take on a new growth job role. Salary support of up to 90% will be provided. Long-term unemployed or mature jobseekers aged 40 and above are eligible for higher funding support. |
Mid-Career Pathways Programme | Host organisations can use the MyCareersFuture portal to shortlist suitable candidates on attachments upon application approval. Host organisations can tap on experience of mature mid-career individuals, and receive 70% training allowance support funded by the government for the duration of the attachment. |
Employment Support for Vulnerable Groups | Gain access to an alternative pool of workers from the following programmes:
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SkillsFuture Work-Study Programme | Employers can participate in the Work-Study Programme (WSP) as a host employer by opening their workplace and offering structured training to the WSP trainees. By doing so, employers will have the opportunity to groom and retain suitable talent with the relevant skills and aptitude to meet organisational needs. |
SkillsFuture Career Transition Programme | The SkillsFuture Career Transition Programme (SCTP) is a train-and-place programme that supports mid-career individuals in acquiring skills to pivot to new sectors or job roles. The programme includes industry attachments and projects. Employers can partner training providers to offer industry attachments and projects at their company as part of the SCTP and have access to these mid-career individuals. This can also widen their reach to a skilled talent pool to support manpower needs. |
Optimise Your Manpower
In this labour market where there is strong competition for talent, cultivating your workforce to be equipped with new skillsets is crucial for addressing talent gaps. Investing in upskilling and reskilling of employees across various levels and job roles in your company enables them to advance in their careers and simultaneously boosts productivity, contributing to business growth. Developing talents from within not only reduces recruitment costs but also enhances employee satisfaction when new career pathways are made available for them, which in turn increase the retention rate of your workforce.
Fostering a culture of continuous learning and professional development positions your company as an employer of choice. This can lead to a positive reputation in the industry and make it easier to attract top talent, while also preparing your workforce to adapt swiftly to sudden transformations due to disruptions.
How can employers optimise their manpower?
Support for Job Redesign under Productivity Solutions Grant (PSG-JR) | As the world evolves, so will jobs. Through job redesign and the restructuring of job roles, work processes, tasks and responsibilities, employers can improve job productivity and attractiveness for workers; thereby benefiting employers in the hiring and retaining of good workers. Collaborate with pre-approved Job Redesign consultants to implement customised solutions and embark on business and workforce transformation for your organization. |
Career Conversion Programme (Job Redesign Reskilling) | Maximise the potential of your current workforce by reskilling employees for new or redesigned roles. Workers can undergo OJT training to elevate their skills and prepare for the new role. Salary support up to 90% will be provided for the period of transition. Mature employees aged 40 and above are eligible for higher funding support. |
Job Redesign Centre of Excellence | Looking to embark on Job Redesign (JR), but not sure how? The recently established Job Redesign Centre of Excellence (JRCoE) is dedicated to assisting companiess in their transformation efforts by providing access to industry-specific expertise and resources. Through the latest JR resources,
best practices, tools and grants, JRCoE is well-equipped to support your company on your business transformation journey. |
HR Industry Transformation Plan | Sustaining and upkeeping the career health of your workforce requires HR professionals with the right capabilities. The HR Industry Transformation Plan outlines a 5-year roadmap to strengthen HR capabilities in Singapore, evolving the role of HR professionals to be strategic enablers of transformation and maximise the potential of your team. |
National Centre of Excellence for Workplace Learning | The National Centre of Excellence for Workplace Learning (NACE) equips companies with the capabilities to train and develop their workers. Through training and consultancy projects, NACE can help employers identify learning and development gaps, strengthen workplace learning and build in-house training systems to raise the capability of their staff with minimal disruptions to business operations. |
Jobs Transformation Maps | As jobs evolve, WSG has worked with government agencies and industry partners to develop Jobs Transformation Maps to provide insights on the impact of technology and automation to jobs across industries. By knowing the changes that are coming, employers can proactively help workers acquire the requisite skills and redesign their jobs for the future. |
Capability Transfer Programme | The Capability Transfer Programme speeds up the transfer of global capabilities into Singapore to equip our local workforce with requisite skillsets. By localising the expertise that reside with foreign specialists, companies can build key capabilities in their local workforceto improve the skills of our local workforce. By leveraging on the expertise of foreign specialists for locals to learn from, businesses can quickly gain new capabilities and stay competitive in today’s fast-changing global market. |
Enhanced Training Support for SMEs and SSG-funded courses | Tap on the Enhanced Training Support for SMEs to receive course fee subsidies of up to 90% for SSG-supported courses that can drive your business forward. Employers can visit the Enterprise for Jobs and Skills course directory to view the wide range of SSG-supported courses that are highly subsidized with out-of-pocket costs further offset using the SkillsFuture Enterprise Credit (SFEC). |
SkillsFuture Enterprise Credit | The SkillsFuture Enterprise Credit (SFEC) encourages employers to invest in enterprise transformation and capabilities of their employees. Eligible employers will receive a one-off credit of up to S$10,000 to cover up to 90% of out-of-pocket expenses on qualifying costs for supportable initiatives. |
SkillsFuture Queen Bee | SkillsFuture Queen Bee Networks: The SkillsFuture Queen Bees (SFQBs) are industry leaders who take on a leading role to champion skills development in organisations, particularly for the SMEs. Companies who join a SFQB network receive skills advice and support for business transformation. |
Skills Profiling for SMEs | SMEs can use the Skills Profiler to benchmark employees’ competencies to discover their strengths and skills gaps, and identify training courses personalised to their skill needs. |