SINGAPORE: Companies looking to send their employees overseas to gain experience will be able to tap into government funding through a newly launched programme under Workforce Singapore (WSG).
Minister for Manpower Tan See Leng announced the launch of the Overseas Markets Immersion Programme on Friday (Nov 15). The programme was first announced at the Ministry of Manpower's Committee of Supply debates in March, although it said then that details would be announced later in the year.
Through the programme, firms can receive support for 70 per cent of a deployed employee’s salary and 70 per cent of their overseas allowance for up to nine months. This will be capped at S$5,000 (US$3,700) and S$3,000 respectively.
“In total, companies can receive up to S$72,000 for each eligible individual that they send for an overseas posting,” said WSG and the Singapore Business Federation (SBF) in a press release on Friday.
Companies must be registered or incorporated in Singapore to be eligible for the programme.
They must also provide a fixed monthly salary of at least S$4,000 for individuals they send overseas.
A detailed career development plan outlining progression over 24 months, along with quantifiable short-term key performance indicators to be achieved after training, must also be drawn up.
To be eligible for the new Overseas Markets Immersion Programme, firms must:
As for eligible employees, existing workers must:
Those who are mid-career news hires need to:
SBF, which was appointed as the programme’s first partner, will work with participating firms to develop these training plans.
According to the release, WSG has set aside S$16 million for the initial run of the programme.
“This will enable local companies to send up to 250 local employees to participate in (the programme) over a period of two years, where they will take on overseas (postings) for at least six months,” WSG and SBF said.
Through the programme, “companies will receive generous support to send their Singaporean employees with little or no overseas market experience abroad to gain such exposure and experience”, said Dr Tan.
Seventeen trade associations and chambers, such as the Singapore Manufacturing Federation, inked agreements in support of the programme on Friday, said WSG and SBF.
“With the support of these partners, more than 100 companies with internationalisation plans, and their local employees, will stand to benefit from (the) Overseas Markets Immersion Programme,” they said.
The programme is part of the government’s efforts to build a globally competitive workforce.
“To seize growth opportunities beyond Singapore, our companies require workers with experience in overseas markets, knowledge of the local operating environment and the ability to work across multi-geographical teams,” said Dr Tan.
The minister acknowledged the challenges some might face in moving overseas, citing concerns on the employer's and employee's sides, such as losing workers or family responsibilities.
However, he shared that from his personal experience, overseas exposure can be “hugely rewarding”.
“Singapore has made our living as a global city and an international hub,” said Dr Tan.
“As a small island state, we have no other option. Our survival depends on us doing business with the world.”
The programme is the newest addition to the government’s toolbox of schemes to support companies’ internationalisation efforts, said Dr Tan.
It will also help companies attract and retain Singaporean talent, he added.
Ms Dilys Boey, chief executive of WSG, said the launch of the Overseas Markets Immersion Programme marked a key milestone in WSG’s efforts to build Singapore’s workforce with the experience to operate in complex overseas markets.
“By immersing our talent in diverse overseas markets, we aim to empower individuals to take charge of their career health and seize new growth opportunities overseas, whilst reinforcing Singapore’s position as a hub for globally minded talent,” she said.
“This programme reflects WSG’s commitment towards developing a future-ready workforce capable of thriving in an increasingly interconnected global economy."
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Minister for Manpower Tan See Leng announced the launch of the Overseas Markets Immersion Programme on Friday (Nov 15). The programme was first announced at the Ministry of Manpower's Committee of Supply debates in March, although it said then that details would be announced later in the year.
Through the programme, firms can receive support for 70 per cent of a deployed employee’s salary and 70 per cent of their overseas allowance for up to nine months. This will be capped at S$5,000 (US$3,700) and S$3,000 respectively.
“In total, companies can receive up to S$72,000 for each eligible individual that they send for an overseas posting,” said WSG and the Singapore Business Federation (SBF) in a press release on Friday.
Companies must be registered or incorporated in Singapore to be eligible for the programme.
They must also provide a fixed monthly salary of at least S$4,000 for individuals they send overseas.
A detailed career development plan outlining progression over 24 months, along with quantifiable short-term key performance indicators to be achieved after training, must also be drawn up.
Overseas Markets Immersion Programme eligibility criteria
To be eligible for the new Overseas Markets Immersion Programme, firms must:
- Be registered or incorporated in Singapore.
- Be committed to working with WSG or its appointed partner on the necessary administrative matters related to the programme.
- Have a detailed career development plan outlining progression over 24 months, along with quantifiable short-term KPIs to be achieved after training.
- Provide a fixed monthly salary of at least S$4,000 for individuals posted overseas.
As for eligible employees, existing workers must:
- Be in a full-time permanent or contract position with a minimum fixed monthly salary of at least S$4,000.
- Be employed by the company for at least one year at the time of application.
- Have a detailed career development plan outlining progression over 24 months, along with quantifiable short-term KPIs to be achieved after training.
- Have identified business-related short-term KPIs and outcomes post-training.
Those who are mid-career news hires need to:
- Be in a full-time permanent or contract position with a minimum fixed monthly salary of at least S$4,000.
- Have a clearly defined job role for the identified market with delineated differences from previous roles.
- Not be an immediate ex-employee of their company or its related entities.
SBF, which was appointed as the programme’s first partner, will work with participating firms to develop these training plans.
According to the release, WSG has set aside S$16 million for the initial run of the programme.
“This will enable local companies to send up to 250 local employees to participate in (the programme) over a period of two years, where they will take on overseas (postings) for at least six months,” WSG and SBF said.
Through the programme, “companies will receive generous support to send their Singaporean employees with little or no overseas market experience abroad to gain such exposure and experience”, said Dr Tan.
Seventeen trade associations and chambers, such as the Singapore Manufacturing Federation, inked agreements in support of the programme on Friday, said WSG and SBF.
“With the support of these partners, more than 100 companies with internationalisation plans, and their local employees, will stand to benefit from (the) Overseas Markets Immersion Programme,” they said.
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BUILDING A COMPETITIVE WORKFORCE
The programme is part of the government’s efforts to build a globally competitive workforce.
“To seize growth opportunities beyond Singapore, our companies require workers with experience in overseas markets, knowledge of the local operating environment and the ability to work across multi-geographical teams,” said Dr Tan.
The minister acknowledged the challenges some might face in moving overseas, citing concerns on the employer's and employee's sides, such as losing workers or family responsibilities.
However, he shared that from his personal experience, overseas exposure can be “hugely rewarding”.
“Singapore has made our living as a global city and an international hub,” said Dr Tan.
“As a small island state, we have no other option. Our survival depends on us doing business with the world.”
The programme is the newest addition to the government’s toolbox of schemes to support companies’ internationalisation efforts, said Dr Tan.
It will also help companies attract and retain Singaporean talent, he added.
Ms Dilys Boey, chief executive of WSG, said the launch of the Overseas Markets Immersion Programme marked a key milestone in WSG’s efforts to build Singapore’s workforce with the experience to operate in complex overseas markets.
“By immersing our talent in diverse overseas markets, we aim to empower individuals to take charge of their career health and seize new growth opportunities overseas, whilst reinforcing Singapore’s position as a hub for globally minded talent,” she said.
“This programme reflects WSG’s commitment towards developing a future-ready workforce capable of thriving in an increasingly interconnected global economy."
Continue reading...