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All You Need To Know About Employee Training Grants In Singapore
The government of Singapore has launched a new initiative to help businesses improve their skills and knowledge base by offering grants for training programs. The program is called the SkillsFuture Fund, which will provide funding for companies that want to train employees on specific skills or upgrade existing training programs.
It is a fund that will provide grants to companies for training their employees. The grants are given on a per-employee basis and the amount of money that each company can receive depends on how many employees they have. This will not only help the company’s bottom line but also improve their business processes like productivity and competitiveness in the market.
This article will discuss about the wide range of employee training grants employer in Singapore can apply, including what are the benefits of such grants, how to apply for them and more.
Benefits Of Employee Training for Employers
Employee training courses can be an expensive and time-consuming process. It doesn't always have a guaranteed outcome, but it can provide many benefits for both the employer and employees.
Training has been shown to improve employee performance and job satisfaction. It also helps with positive workplace culture and team building. Training is also beneficial for the company because it reduces turnover rates, which saves money in the long run.
Finally, training is a great way to retain employees who are thinking of leaving or retiring from their jobs.
Improved Workplace Productivity
The most obvious benefit of training your employees is improved workplace productivity. When you invest in training, you get better results at work. Employees learn new skills and gain confidence in themselves as well as their abilities. They become more productive and efficient.
Another benefit of training is increased competitiveness. Companies that invest in training their employees are able to compete against other companies that don't offer this type of training.
In addition, training gives employees the opportunity to advance within their current role. If they are already performing well, they may be promoted into a higher position. On the other hand, if they aren't doing so well, they may be moved to another area where they can excel.
Reduced Turnover Rates
Turnover rates are high in some industries, especially when there is a lack of opportunities for advancement. However, training provides a solution to this problem. By providing opportunities for growth, it allows employees to stay longer with the company.
In fact, studies show that companies that offer training tend to have lower turnover rates than those that do not.
Enhance The Organization's Standing Among Stakeholders
When you train your employees, you give them the tools needed to succeed in their roles. This improves the organization's standing among stakeholders. For example, when you train your sales representatives, they will know exactly what to say to customers. As a result, they will be more successful in closing deals.
Similarly, when you train your customer service reps, they will be able to handle any questions or concerns that come up. This will make your customers feel valued and appreciated.
Improved customer experience and better services may be perceived by clients and business partners as an enhancement to the company's reputation among its stakeholders.
Better Customer Service
Another benefit of training your employees comes in the form of customer service. Your customers will feel more valued when you offer them quality services.
When your employees know their strengths and weaknesses, they can use these to give the best possible service to your clients. For example, if one of your employees knows he's good at sales, he'll focus his efforts on selling to potential clients. He won't waste time trying to sell products to people who aren't interested.
If you're looking to increase your workforce, consider investing in employee training programs. Not only will they help you attract and keep top talent, but they'll also make your business more competitive.
Available Employee Training Grants For Employers
1. Courses offered by SSG-appointed CET Centres
The Singapore government is being proactive in making sure that Singaporeans are well-equipped and trained for the jobs of the future. They are doing this by providing grants to employers who offer courses at SSG-appointed CET centres. These courses are known as SSG-approved courses.
This is a great initiative taken by the government as it will help employers to train their staff better and equip them with skills that they need, while also giving employees opportunities to learn new skills that will make them more employable in the future.
Check out below to understand more about SSG-supported certifiable courses and different non-certifiable development courses for your employees.
|Courses offered by SSG-appointed CET Centres||Funding Support|
|Singapore Citizens (SCs) & Permanent Residents (PRs)||Up to 70% course fees|
|SCs aged ≥ 40 years old|
(More on SkillsFuture Mid-career Enhanced Subsidy)
|Up to 90% course fees|
|Small & Medium Enterprises (SMEs): Enhanced Training Support for SMEs||Up to 90% course fees|
|Persons with Disabilities (PwDs) - SCs & PRs|
(Only for eligible courses supported by SG Enable)
|Up to 95% course fees|
2. Other Certifiable Courses: External & In-house
For External Training
|Courses offered by external training providers||Funding Support|
|Singapore Citizens (SCs) & Permanent Residents (PRs)||Up to 50% course fees|
|SCs aged ≥ 40 years old|
(More on SkillsFuture Mid-career Enhanced Subsidy)
|Up to 70% course fees|
|Small & Medium Enterprises (SMEs): Enhanced Training Support for SMEs||Up to 70% course fees|
For In-house Training
|Courses offered for in-house training||Funding Support|
|Singapore Citizens (SCs) & Permanent Residents (PRs)||Up to $7 per hour|
|Small & Medium Enterprises (SMEs): Enhanced Training Support for SMEs||Up to $15 per hour|
3. Non-certifiable Courses
|Non-certifiable courses||Funding Support|
|Singapore Citizens (SCs) & Permanent Residents (PRs)||Up to $2 per hour|
Please be aware that MOM allowances must be paid to employees for training that takes place outside of regular business hours and may be used in place of overtime pay. The amount of the allowance that will be given to the employees must follow the rate(s) specified on the MOM website.
How To Apply For These Funding Grants?
Companies can enroll directly on the above SSG-approved courses for employees that need training.
Employers need to be aware of the benefits and drawbacks of SSG’s CET Centers or training providers offering SSG-supported courses.
If you're interested in taking an online course from SSG, be aware that after December 31, 2024, they won't offer any funding for in-house trainings and non-certifiable classes. So make sure you have the application forms ready for your employees' training and we hope you the best application outcome from those courses!
Read also: All You Need To Know About NTUC CTC Grant
Read also: Guide to Google Ads Grant for Non-Profit Organisations- Singapore
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