SkillsFuture for Enterprise
SkillsFuture is a national movement to empower individuals and enterprises in developing skills to achieve their fullest potential, regardless of the starting point. For enterprises, there is a suite of SkillsFuture initiatives to support the skills development of the workforce to keep up and advance with the business as it transforms and grows.
Benefits of investing in skills training
In 2021, the Ministry of Trade & Industry (MTI) and SkillsFuture Singapore (SSG) published a study on the returns to employer-sponsored training and found positive effects. The study observed
training adoption of close to 150,000 enterprises over an 8-year period and found that:
For every 10% of the local workforce that companies supported for training:
- Labour productivity of firms was 2.2% higher on average per year for two years
- Company’s revenue was 0.7% higher on average each year for up to three years after training
- Employee retention was 0.6% higher in the year of the training.
Read more about the MTI-SSG study.
Many employers have benefitted from participating in the various SkillsFuture programmes.
Read about their stories at SkillFully.
Get started on your SkillsFuture journey
Here are five key steps to start your SkillsFuture journey:
Step 1: Understand Your Skills Needs
Assess your business goals and determine your skills needs based on the job function.
Step 2: Check your eligibility for subsidies and funding
As Small and Medium Enterprises (SMEs) benefit from enhanced course fee subsidies, you will need to declare if you have changed status from non-SME to SME.
Step 3: Identify Suitable Courses and Initiatives
Use the results from Step 1 to search for relevant training courses and SkillsFuture initiatives.
Step 4: Claim Absentee Payroll Funding
Companies can claim for Absentee Payroll (AP) funding for SSG-funded courses, by doing a simple declaration.
Step 5: Build a Workplace Learning Culture
Continue to upskill your workforce and foster a culture of continuous learning at the workplace.