Singapore Widens the Scope of Career Conversion Programmes
Singapore’s Ministry of Manpower (MOM) has announced significant enhancements to the Career Conversion Programme (CCP). Effective from April 1, employers will benefit from increased salary support for hiring of mid-career workers and upskilling of existing employees.
Upgraded Funding Assistance
Under the revamped CCP scheme, employers can now get up to 90% funding support for training mature workers or those facing long-term unemployment, with the funding cap raised to S$7,500 per month. This adjustment translates to a maximum of S$45,000 in salary support per worker for a six-month conversion programme. Additionally, other CCP participants will get an increase in the salary support cap to S$5,000 per month, widening the scope for employee upskilling across diverse industries.
Expanding Reskilling Horizons
The expansion of CCP support extends beyond roles at risk of redundancy, now encompassing new growth job roles identified under the Industry Transformation Maps or Jobs Transformation Maps. This strategic shift encourages employers to proactively upskill their workforce, aligning them with evolving industry demands. The initiative, administered by Workforce Singapore, has already made significant strides, benefiting over 7,300 employers and 47,000 workers between 2017 and 2023, showcasing its substantial impact on the workforce.
Early Success of CareersFinder Tool
Minister of Manpower Tan See Leng also highlighted the early success of the CareersFinder feature on Workforce Singapore’s MyCareersFuture jobs portal. With over 15,000 users in its initial six months, the tool aids job seekers in exploring a wider range of career opportunities and relevant training programmes. This initiative aligns with the national effort to foster a culture of lifelong learning, enhancing the employability of Singaporeans in a dynamic job market.
Continued Government Support
Looking ahead, the Government pledges to refine CareersFinder further and expand the suite of support for both workers and employers. These initiatives underscore Singapore’s dedication to nurturing a skilled workforce, thereby solidifying its position as an attractive destination for businesses and investors alike.
Need Further Help?
The Career Conversion Programme (CCP) is indeed, a unique opportunity for both business owners and those looking for a fresh new start. You can contact 3E Accounting if you need further guidance on it.
