Complimenting Budget Support for Human Resource adjustments
Singapore’s latest Fortitude Budget was introduced by Deputy Prime Minister and Finance Minister Heng Swee Keat in Parliament on Tue, 26 May 2020.
What It Means –
The Foreign Worker Levy waiver and discount will be reached out by 2 months for organizations who can’t continue nearby activities. The Government will likewise concede higher CPF commitment rates for senior employees by one year to 1 January 2022, to assist organizations with overseeing costs in these difficult occasions.
The Jobs Support Scheme will be improved. All organizations will get an extra month of help. Firms that continue nearby tasks after the electrical switch will keep on getting wage support at 75% until August 2020, or when they are permitted to revive. Higher compensation support at 50-75% will be given to aviation, retail, fabricated condition, marine and seaward segments.
Jobs creation and upskilling:
The Government has set aside S$2bn for the new SGUnited Jobs and Skills Package, which aims to create close to 100,000 opportunities in jobs, traineeships, and skills training.
Working from home should be default mode
In supporting businesses, especially the less digitally savvy that have been hit hard during the Circuit Breaker, the Government will allocate an additional $S500mn in supporting their digital transformation.
Too much information with too little clarity on how to utilize the allocated relief as soon as possible?
About Enable Consulting
Established in 2013, enable Consulting is a specialised HR solutions provider for small and medium-sized enterprises.
We believe that having a strong and robust HR function is a key driver for continuous growth in any successful business. It is on this belief that we have built many successful partnerships with clients across different industries.
We are a people business and it is our talent pool that defines us. Each and every one of our consultants is highly professional with many years of experience in HR management and services.
Our Consultants are PMC certified to further be able to help local SMEs improve and optimise their HR operational efficiency through Singapore Grants. enable is about offering affordable, high value adding solutions to improve business performance; while at the same time nurturing and inspiring a fair and respectful working environment. But above all, enable is about enabling you.
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News Aggregation (8 June 2020)
- Singapore’s $S33bn Fortitude Budget: Key highlights for HR and employers
- NTUC to focus on preserving and matching jobs, worker training, says Ng Chee Meng
- Singapore heads for worst recession since independence; economy to shrink by 7% to 4% on Covid-19 impact
- Working from home should be default mode in first 2 phases of reopening ater Covid-19 circuit breaker: MOM