- Xiaomi’s New Logo – Marketing Farce, or Ridiculous Masterpiece?
- What To Do When Your Business Gets Tax Audited
- Singapore Employment Rights for Interns and Trainees
- Singapore Income Tax: Are Your Jobs Support Scheme (JSS) or Job Growth Incentives (JGI) COVID-19-Related Payouts Taxable?
- Top Payroll Systems for Singapore SMEs
- ***LOWEST COMMERCIAL LOAN RATES*** MAYBANK 2YR 3M SIBOR Year 1:1.24%, Year 2:1.24%, Year 3:3.24%, Year 4:3.24%
- ***LOWEST RESIDENTIAL LOAN RATES*** RHB 3YR 1M SIBOR Year 1:1.08%, Year 2:1.08%, Year 3:1.13%, Year 4:1.53%
- “Golden Handcuffs” – Incentivising Star Employees to Stay
- Singapore Businesses’ Guide to Hiring Interns 2021
- Understanding Your Credit Report from Credit Bureau Singapore
COVID-19 And Work-Life Grant 2020
Read more about other Government initiatives and support that help SMEs stay afloat during Covid-19.
The Work-Life Grant is an existing scheme by Workforce Singapore and Ministry of Manpower, and has been implemented and enhanced since 2018. It is used to promote work-life balance in companies by offering an incentive of $2,000 for every local worker on FWAs, up to 35 workers per company. This funding support will help to implement and sustain FWAs for all employees.
So how does the WLG benefit companies during the Covid-19 situation?
Instead of the usual six months to qualify, companies only need to have their workers on FWAs for one month. Which is great news for companies that have already been implementing telecommuting and staggered work hours during this period. However, do note that the Enhanced WLG is only applicable for permanent employees or those with a minimum employment contract term of 12 months. Ad hoc or temporary workers will not be eligible.
Senior Parliamentary Secretary for Manpower Low Yen Ling also said the Work-Life Grant can be used to buy laptops, software and related equipment for telecommuting. By adopting flexi-work arrangements, it will not only help companies to overcome the immediate challenges posed by Covid-19, but also help companies to “ride the wave of changing workplace norms, become a more inclusive, caring, and also attractive employer, and thereby attracting better talent.” in the long run.
Companies can start applying for the Work-Life Grant from 20th April 2020, and the lower requirements will apply after the “Circuit Breaker” period ends on 4th May 2020.
How to apply
SNEF, NTUC’s e2i and Singapore Manufacturing Federation (SMF) are the only official Programme Partners for Work-Life Grant.
If you are interested, you must apply directly to SNEF, NTUC’s e2i or SMF. Application is free.
Third party applications through consultants or vendors will not be accepted. MOM, WSG, SNEF, NTUC’s e2i or SMF do not endorse any consultants or vendors and their services and products.
For more information, please visit https://www.mom.gov.sg/employment-practices/good-work-practices/work-life-grant.
Not sure whether your company can be qualified for bank loans or alternative lending? Try our A.I assisted loan, and Smart Towkay team will send you a lending report within 24 hours' time. With the lending report, we aggregate and recommend the highest chance of approval be it with BANKS / FINANCIAL INSTITUTIONS or Alternative lenders like Peer to Peer Lenders or even B2B lender!
Share with us your thoughts by leaving a comment below!
Stay updated with the latest business news and help one another become Smarter Towkays. Subscribe to our Newsletter now!