SINGAPORE: A new programme launched last week by Workforce Singapore (WSG) is aimed at helping local companies to expand into markets in other countries.
Manpower Minister Tan See Leng explained that the Overseas Markets Immersion Programme (OMIP) will not only give Singaporeans who have little or no experience of working overseas the opportunity to do so but will also help firms attract and retain talent.
He announced OMIP’s launch at the “Scale Internationally: Developing Singapore’s Global Leaders, Conquering Global Markets” event on Nov 15.
The programme is part of the government’s thrust to build a workforce that is globally competitive as it enables more Singaporeans to have work experience overseas.
OMIP’s first programme partner is the Singapore Business Federation (SBF), which will work with firms to explore internationalisation opportunities.
At the Nov 15 event, which was organized by WSG and SBF, agreements in support of the programme were signed by 17 trade associations and chambers, such as the Singapore Manufacturing Federation and the Singapore International Chamber of Commerce.
This will allow over 100 firms with plans for internationalisation to benefit from OMIP.
Through the programme, 70 per cent of the employee’s salary, as well as 70 per cent of their overseas allowance, will be provided, up to a maximum of $5,000 and $3,000 each month, respectively.
A company may receive as much as $72,000 for each qualified employee sent for a posting in another country.
Eligibility for OMIP is as follows: Firms should provide a fixed monthly salary of at least $4,000 for employees taking on a posting overseas. They also need to submit a detailed career development plan showing progression over 24 months, together with quantifiable short-term KPIs after training.
SBF will partner with companies to develop training plans for overseas posting.
An amount of $16 million has been allocated for the programme’s initial run, allowing firms to send as many as 250 local employees to participate in OMIP for two years, with an overseas posting for at least six months.
Dr Tan called OMIP part of a broader suite of government programmes to widen career development opportunities for Singaporean professionals, managers, executives, and technicians.
“Together, we can develop a globally competitive workforce and continue providing good jobs for Singaporeans. Take the bold step to venture beyond our shores!” he wrote in a Facebook post earlier this month.
Firms interested in participating in OMIP may contact SBF at 6827 6828 or email ccp@sbf.org.sg. /TISG
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