Techblog
Singapore Budget 2015: SkillsFuture and WDA's Training Solutions for SMEs
A new initiative has been introduced by the Singapore government during the Singapore Budget 2015. SkillsFuture is a scheme that targets Singaporeans through lifelong learning and aims to maximise every Singaporean's potential.
It is crucial for Singapore to have a workforce that not only has the right skills but is also equipped with offering workers a chance to upgrade their skills or develop new industry-relevant ones as they progress throughout their careers.
What is SkillsFuture?
Presenting during the recent Singapore Budget 2015 reading in parliament on February 23, SkillsFuture is a national movement to provide Singaporeans with the opportunities to develop their fullest potential throughout life and their careers.
Through this initiative, it is the government's hope that the skills, passion and contributions of every individual will drive Singapore's next phase of development towards an advanced economy and inclusive society.
How can SkillsFuture benefit Singaporean employers and employees?
SkillsFuture aims to help SMEs and employees as shown in the following table:
Going hand in hand with SkillsFuture, there are many courses which the Workforce Development Agency (WDA) offers that SMEs can can take advantage of to further employees' training. Though the range is extensive, a few key programs for employers are highlighted below:
1. Workforce Skills Qualifications (WSQ)
The WSQ This is a national level tool which SMEs can leverage on to strengthen in-house training as well send their workers for a different levels of courses. There are many courses catering to a wide array of industries ranging from aerospace to creative industries to retail.
2. Productivity Initiatives in Services & Manufacturing (PRISM)
PRISM represents a group of productivity-related programmes supported by the WDA across both cross-sectoral and selected industries. The various programmes under PRISM primarily target supervisory and managerial-level staff become more productive in key industry areas of expertise (e.g 6 sigma, lean management, process engineering)
3. Skills Training for Excellence Programme (STEP)
Aimed at Professionals, Managers and Executives (PMEs) across all job functions, STEP was introduced to help PMEs update their skills, knowledge and expertise so as to remain competitive in their respective industries.
With government assistance such as the SkillsFuture initiative targetted at SMEs, Singaporeans can look forward to a future of lifelong learning and constant professional improvement in their careers and beyond.