On 14 November 2014, the Ministry of Manpower (the “MOM”) announced two new initiatives to strengthen the support for Professionals, Managers and Executives (“PMEs”) and enhance their employability. The two new initiatives are implemented in recognition that PMEs are an important and growing part of the Singapore workforce and seek to build a career-resilient PME workforce with skills that meet the evolving needs of the economy.
The two new initiatives announced are (a) a one-stop career resource portal, and (b) enhanced funding support for Professional Conversion Programmes.
The two new initiatives will enhance the employment support which PMEs currently receive. Existing support for PMEs include CaliberLink which the Singapore Workforce Development Agency (the “WDA”) set up in 2011 to help PMEs with their job searches. More recently, the Jobs Bank was launched in July 2014 to facilitate better job matching between local job seekers and employers. The WDA is a statutory board established under the MOM.
One-stop career resource portal (www.CareerResource.sg)
Driven by the tripartite partners, the MOM, National Trades Union Congress (NTUC) and Singapore National Employers Federation (SNEF), the portal provides a one-stop suite of comprehensive resources for PMEs on career development, training and employment assistance. The portal will also feature the relevant Government and unions’ PME events, programmes and services.
Enhanced funding support for Professional Conversion Programmes
To help PMEs re-skill to take on new jobs in different industries, the WDA will increase the monthly salary support given to employers who hire PMEs on a Professional Conversion Programme (“PCP”)from the current 70% of monthly salary (subject to a cap of S$2,000), to up to 90% of the monthly salary (subject to a cap of S$4,000). The enhanced support applies to industries/sectors that have existing as well as upcoming PCPs in the place-and-train mode. PMEs aged 40 years old and above, as well as those unemployed for more than six months, will be eligible for the enhanced support.
The following materials are available from the MOM website www.mom.gov.sg: