SINGAPORE: To help retrenched workers get back on their feet confidently, a new scheme to offer temporary financial support to these workers while they upgrade their skills is in the works, Prime Minister Lee Hsien Loong said on Sunday (Aug 20).
“This scheme will ease the immediate pressure that job seekers experience so they can focus on upgrading their skills for a better long-term job,” said Mr Lee.
Speaking in Malay during the National Day Rally 2023 at the Institute of Technical Education Headquarters in Ang Mo Kio, Mr Lee noted that the digital domain offers a wide range of job opportunities, but the “flip side” of such opportunities is anxiety.
“Anxiety to keep up with the latest trends. Worry that your job may be taken over by robots or AI applications. We can certainly expect more job disruptions. More of our workers will be affected by such disruptions and may lose their jobs several times throughout their careers,” he said.
“The pace of change is expected to increase,” Mr Lee added.
This is why the government has put in place various initiatives to help job seekers pick up new skills or move to different sectors, such as through the SkillsFuture Career Transition Programme, he said.
But while retraining to find better jobs is the way out for retrenched workers, it remains a challenge for them to go for skills courses.
“Financial pressure and the need to support our families will affect our minds and choices,” noted Mr Lee, adding that these concerns cropped up during the government’s public consultation exercise, Forward SG.
“So it is very difficult to go for skills courses. Thus, often out of desperation, we seize whatever jobs are offered.”
Mr Lee said the scheme is currently being “fine-tuned”, and more details will be shared by the fourth-generation (4G) leadership team when they wrap up the Forward SG initiative.
In recent months, the government has repeatedly indicated that it was looking into providing financial support for retrenched workers, most recently in April 2023 when Deputy Prime Minister Lawrence Wong said the government was considering a re-employment scheme to help displaced workers make ends meet.