Fewer people took up SkillsFuture courses in 2023 despite more employers sponsoring them

Fewer people took up SkillsFuture courses in 2023 despite more employers sponsoring them

Fewer men and women took up SkillsFuture courses but extra mid-occupation staff using subsidies to do so

The number of people today who took up SkillsFuture courses has fallen, in accordance to figures presented by the company.

In 2023, 40,000 much less staff participated in training programmes compared with the 12 months in advance of.

Resource: Skillsfuture SG on Facebook

This is regardless of extra companies sponsoring their staff for these training programmes.

40,000 much less men and women took SkillsFuture programs in 2023

The lessen in SkillsFuture participation was exposed by SkillsFuture Singapore in a news launch on Friday (22 March).

It explained about 520,000 people today participated in SkillsFuture-supported courses in 2023.

Even so, that’s a lot less than the 560,000 who did so in 2022 — a fall of 40,000 people today.

Resource: Skillsfuture SG on Fb

This is inside expectations, even though — SkillsFuture expects “in the location of all over 500,000” people to take part in its programs each individual year, it stated. This is about a person-fifth of Singapore’s workforce.

A lot more employers sponsored staff members for SkillsFuture programs

The drop in get-up comes just after close to 23,000 employers sponsored their workers to go on SkillsFuture courses in 2023, the statement reported.

228,000 employees in total benefitted from this sponsorship.

This is an maximize in contrast with the figures in 2022, when 20,000 businesses sponsored 168,000 workers for Skillsfuture courses.

Source: Skillsfuture SG on Facebook

Out of the 23,000 companies that sponsored employees final year, 97% were small and medium-sized enterprises (SMEs). SMEs “generally require more assist to devote in their personal workforce”, SkillsFuture reported.

It is “encouraging” that more businesses are sponsoring their workers for classes, said SkillsFuture main executive Tan Kok Yam, incorporating:

It displays an ever more collective dedication to lifelong mastering, across the ecosystem of businesses, workers and education suppliers.

More mid-job personnel using subsidies for SkillsFuture programs

On the bright side, the quantity of mid-job workers who utilized subsidies to pay back for their SkillsFuture courses went up.

In 2023, about 200,000 mid-career workers tapped the SkillsFuture Mid-Occupation Improved Subsidies (MCES) to address an additional 20% of their study course expenses.

This represented an increase of 28% from 2022.

Additionally, about 192,000 Singaporeans utilised their SkillsFuture credits last calendar year.

95% of them employed them for courses certain to industry sectors. The relaxation utilised them for basic classes curated by the Peoples Association or the Nationwide Silver Academy.

Supply: Skillsfuture SG on Fb

Additional participation anticipated from mid-vocation personnel

SkillsFuture expects increased participation from mid-occupation workers with the advent of the SkillsFuture Stage-Up Programme, which was released during this decades Funds announcement.

As section of this programme, all Singaporeans aged 40 years and higher than will get an excess S$4,000 worthy of of SkillFuture credits with no expiry date, to encourage mid-career workers to upgrade their competencies and raise their employability.

Finances 2024: S$4,000 SkillsFuture best-up in May well for S’poreans 40 decades aged & earlier mentioned

Mr Tan reported that with the SkillsFuture Stage-Up Programme coming into impact, “we need to have to carry on to function collectively to give Singaporeans the instruction, that is of high good quality, of substantial relevance, and of superior impression to their occupation and their means to add as an employee”.

Fewer young individuals employed SkillsFuture credits in Sep 2023

Having said that, do the job might even now be necessary to persuade youthful staff to just take aspect in SkillsFuture programs.

About 80% of qualified Singaporeans aged below 30 hadn’t applied their SkillsFuture credits nonetheless, in accordance to a Channel NewsAsia (CNA) report in September 2023.

Also, 70% of persons throughout all ages hadn’t utilized SkillsFuture credits since 2015, when the initiative was started.

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Showcased image tailored fromSkillsfuture SG on Facebook.

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