Take-up rates of Schemes that Encourage SMEs to Hire Fresh Graduates and Interns
Ministry of Trade and IndustrySpeakers
Summary
This question concerns Mr Chen Show Mao’s inquiry into the take-up rates of the SME Talent Programme (STP) and SkillsFuture Earn and Learn Programme (ELP). Minister for Trade and Industry (Industry) S Iswaran reported that the STP facilitated 155 job matches and over 700 internships in 2015, benefiting 192 enterprises. Regarding the ELP, 144 individuals were placed in 55 companies by December 2015, with SMEs making up about half of the participating employers across 12 sectors. Minister for Trade and Industry (Industry) S Iswaran highlighted that the ELP will expand in 2016 to provide more graduates with structured workplace learning and mentorship. SPRING will continue working with trade associations and educational institutions to further increase the flow of talent into the SME sector through sponsorships and training.
Transcript
27 Mr Chen Show Mao asked the Minister for Trade and Industry (Industry) what are the take-up rates of the schemes aimed at encouraging SMEs to hire fresh graduates and interns, such as the SME Talent Programme and SkillsFuture Earn and Learn Programme.
Ms S Iswaran: The SME Talent Programme (STP) helps local SMEs attract talent from Institutes of Technical Education (ITEs), Polytechnics and Universities by co-funding student internships, study sponsorships and fresh-hire training. Participating students are required to work in the sponsoring SMEs after graduation. In 2015, 155 STP job matches and over 700 STP internships were conducted, benefiting 192 enterprises. This was an increase from the 116 enterprises that benefited in 2014.
SMEs also benefit from the SkillsFuture Earn and Learn Programme (ELP), a work-study programme to encourage fresh graduates from Polytechnics and ITEs to enter industries which they are trained for. The ELP provides these graduates with opportunities to deepen their skills through structured workplace learning and mentorship, as well as competitive starting salaries and clearly-defined career advancement pathways. The programme started in April 2015, and as at December 2015, 144 individuals had been placed in 55 companies across 12 sectors. SMEs have responded positively to the programme, making up about half of the companies that hired new graduates from Polytechnics and ITEs under the ELP in 2015. The ELP will be expanded to more sectors in 2016.
SPRING will continue to work with trade associations and chambers, universities, polytechnics and ITEs to increase the flow of talent to the SME sector.