Since 2015, all Singaporeans aged 25 and above are given $500 of SkillsFuture Credits, with a one-time top-up of $500 for those aged 25 and above in 2020. For those aged 40 and above as of 31 December 2020, a one-off Additional SkillsFuture Credit of $500 was provided.
On 1 May 2024, those between 40-60 years old received SkillsFuture Credit (Mid-Career) which gives an additional $4,000 for approved courses to upgrade their skills make mid-career switches. This credit will be given to younger Singaporeans when they turn 40 years old.
On the corporate level, the SkillsFuture Enterprise Credit (SFEC) gives $10,000 to encourage companies to embark on business and workforce transformation.
Aside from these credits, SkillsFuture Course Fee Funding offsets up to 90% of course fees for various courses, depending on which category you belong to and what kind of courses are taken. SkillsFuture Credits can then be used to offset the remainder of the course fee, and this means that in most cases, Singaporean Citizens and PRs could attend courses for free.
Upgrading Critical Core Skills (CCS)
Critical Core skills are soft skills such as presentation skills, leadership skills, or even people development skills. These skills comprise of competencies that lie across three skill clusters as identified by SkillsFuture.
The skill clusters are thinking critically, which mainly involves problem solving and decision making by individuals, interacting with others, which involves interpersonal communication at the lower levels, and leadership skills at the higher levels, and staying relevant which involves self-management skills.
Since these skills are soft skills, they are hard to teach in a classroom environment. Nevertheless, these courses are aimed at raising awareness about these skills and providing useful frameworks for individuals to make sense of past experiences, and to develop more effective strategies for interaction in their work environments.
While the courses do not guarantee mastery of these skills at the end, they function more like a starting point for individuals to change behaviour such that they can function more effectively at work.
Most CCS classes are relatively short duration classes, ranging between 5-20 hours, and cost under $500 after SkillsFuture Funding.
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Pivoting Careers
The SkillsFuture Career Transition Programme (SCTP) is structured to assist mid-career switches for people who are looking for opportunities to transition to a different industry. This programme includes courses and employment facilitation services and career advisory to enhance employment prospects. Courses which are geared towards a career transition will have a (SCTP) prefix to the course name.
Some of these courses are geared towards helping people transition into the care economy (healthcare & counselling), the green economy (agribusiness and sustainability), and the digital economy (cybersecurity, IT and data analytics).
The SCTP offers a baseline subsidy of up to 70% of course fees, and up to 90% of course fees under the SkillsFuture Mid-Career Enhanced Subsidy for those who are aged 40 and above.
For people who are contemplating a mid-career switch, it may help to have a consultation with a skills ambassador who will help you identify the skills required to support your career transition, as well as resources you can tap upon to achieve this. This consultation is free, and individuals can book a face-to-face session or virtual call.
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SkillsFuture Enterprise Credit (SFEC)
Companies have $10,000 worth of SFEC which can be applied to a broader range of applications. Up to $7,000 of these credits can be used for enterprise transformation. However, up to the full $10,000 can be used for workforce transformation, and this includes sending staff for Skills Framework-aligned courses, Job Redesign initiatives, Career Conversion Programmes, and other sector-specific programmes.
In addition to this, employers who sponsor employees for training can make use of Absentee Payroll funding, which is a grant intended to help employers defray manpower costs incurred when sending eligible staff for training.
Before sending staff for training, companies can make use of Skills Profiling for SMEs to help identify suitable courses for training.
Learning Does Not Stop Here
Many things can be learnt without having to go for courses. Staff who go for courses can indirectly benefit the organisation through sharing their learning points or passing down experience. In addition to this, other learning resources exist on platforms such as YouTube and learn.gov.sg, where skills can be acquired for free. Creating a culture of continual learning helps the individual and the organisation function more effectively as a whole.
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