Prior to the release of the annual Budget on February 18th, the National Trades Union Congress (NTUC) is pressing for more funding for company-led coaching programs over the next five years.
One in three Singapore are concerned about their job security in the upcoming three times, according to a new NTUC study.
By 2032, 70 % of Singapore’s workforce will need to undergo coaching or mentoring, according to a report from the World Economic Forum, and 60 % of Singapore companies identified skill gaps as barriers to their company transformation efforts.
” NEEDLE-MOVING INITIATIVE”
Ng Chee Meng, the head of the NTUC, reiterated the demands made by the labor movement for more government funding for the Company Training Committee ( CTC ) grant, which aids businesses in transforming their operations in order to attract and retain staff.
Since the grant was launched in 2022, 85 per cent of the initial S$ 100 million ( US$ 75 million ) has been used for approved projects to support about 7, 000 workers.
Mr Ng said “anything important” in terms of extra money may become “useful”, though he did not give a distinct figure.
He had first made a demand for more state funding next month at a NTUC-organized work good.
Calling the CTC grant a “needle-moving initiative”, Mr Ng said NTUC and employers have “done good work to promote workers ‘ wages ( and ) workers ‘ employability, in conjunction with better businesses”.
” Productivity benefits have allowed employees to have, on average, 5 per share wage rises over the monthly increments. And this is not just for blue collar workers, but also for PMEs ( experts, managers and executives )”, he added.
So we hope the government will approve the CTC offer so that we can expand our work on the ground.
Job placements for PMEs and skilled technicians by NTUC’s Employment and Employability Institute (e2i ) almost doubled from 8, 800 in 2023 to 17, 000 last year, said NTUC in an update.
In the same way, the proportion of PME job seekers who turned to e2i for assistance increased from 45 to 61 % between the last quarter of 2023 and the same period last year.
MENTORSHIP PILOT
In an effort to join employees with coaches for skills and career direction, NTUC also announced on Thursday that it will captain a program called the Company Mentorship Circle.
Under the program, unionised businesses will be able to touch 1, 200 coaches and experienced business leaders in the NTUC Mentors Network.
The unions for medical services employees, No engineering staff, and United Workers of Electronic and Electrical Industries will join this.
In due course, more information about when and how much the captain will begin may be made available.
Moving forward, Mr Ng told investigators that he hopes to work with the government and employers to table Singapore’s development.
He reaffirmed the labor group’s dedication to improve PMEs ‘ ability to advance career advancement and job security.
Many of these programs will be implemented by NTUC in collaboration with our bilateral lovers. In the grand scheme of things, he said,” We are looking forward to the Budget also for the government to share what might be the growth strategies for Singapore.”
“( This is ) to allow our tripartite partners to rally behind those policies and give us the best chance to have a robust economy with flourishing businesses, and to ensure that our workers can make a good living.”