NTUC fund to get up to S$200 million more to support mid-career workers

The Labour Movement intends to raise S$50 million to work with universities to support mid-career workers in training, and the Government will match S$3 for every dollar that NTUC raises.

People crossing a street in Singapore's central business district. (File photo: Ngau Kai Yan)

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SINGAPORE: Up to S$200 million more could soon be available in the NTUC-Education and Training Fund, with the goal of helping 30,000 mid-career workers a year in learning new skills, Prime Minister Lee Hsien Loong said.

Speaking at this year's May Day Rally on Sunday (May 1), Mr Lee said the Labour Movement intends to raise S$50 million to work with universities to support these workers, including professionals, managers, executives and technicians (PMETs), in training.
The Government will, in turn, match S$3 for every dollar NTUC raises – up to S$150 million.
The scheme is an extension of what NTUC has been doing with polytechnics and Institutes of Technical Education (ITEs). It will start first by partnering Nanyang Technological University (NTU) and will focus on short courses to help working people keep up with technology and industry development.
Mr Lee added that down the road, NTUC will expand the programme to more universities and develop more programmes to cater to more workers.
TRANSFORMING INDUSTRIES
In his speech, Mr Lee outlined how Singapore will deal with changes in industries, jobs and the workforce amid a slow global economy.
Mr Lee noted that industries are changing rapidly, with new business models disrupting existing ones. He cited examples like online retailer Taobao, home-share booking site Airbnb, and private-car hire services like Uber and Grab.
"But we cannot stop this phenomenon nor should we try," he said. "We would end up hurting ourselves because these new businesses have improved our lives as consumers."
Instead, Singapore will make sure that businesses with new models compete on fair terms with existing ones. For example, authorities are reviewing regulations to ensure a more level playing field between traditional taxi operators and apps like Uber and Grab.
More fundamentally, the Government is helping industries and companies to compete by supporting them as they transform, such as setting aside S$4.5 billion dollars over five years for the Industry Transformation Programme in this year's Budget, Mr Lee said.
TRANSFORMING JOBS
But as the economy is being transformed, the jobs that are available will also change, stressed Mr Lee.
"That is why even while the economy is growing, retrenchments have gone up," he said, adding that this loss is not only felt among rank and file workers but also supervisory and management jobs.
This is even though there is a steady flow of quality investments coming into Singapore at the same time.

"So our problem is not that there aren't enough jobs. Our problem is in matching workers' skills and expectations with what is needed in the market. This means we have to prepare our people for the jobs that are becoming available."

For PMETs who have been retrenched mid-career, Mr Lee said the new Career Support Programme has seen promising signs in its first five months.
The initiative sees employers provided with wage support for one year, to defray the cost of hiring. About 200 mature PMETs have participated in the programme, with half of them securing employment.
But Mr Lee also stressed that with changing industries and jobs, the shape of the workforce is also changing and he called for the Labour Movement to be strengthened.
While it traditionally catered to blue collar workers, the Labour Movement needs to adapt to meet new needs and stay relevant, with a growing number of PMETs in Singapore, he said.
Today, about half the workforce is made up of PMETs. By 2030, this will grow to about two-thirds.
He also called for employers to be bolder, as the unions try to negotiate collective agreements to include PMETs.
"Do not believe that if the Labour Movement leaves your PMETs alone, you will be able to manage them more directly and easily," said Mr Lee. "If employers work with us, you will find that here in Singapore, we have a different Government and a different Labour Movement."

- CNA/cy