Singapore Government – Searching New Talent for the SMEs
The Productivity and Innovation Credit (PIC) Bonus is a programme launched by the government to encourage small and medium enterprises (SMEs) to engage in qualifying activities that are helpful in improving business through productivity and innovation. The bonus can be considered as the icing on the cake as it can be an indicator for the companies that are taking more initiatives to further improve their business through the programme. More so, the recruitment of locals can also be included in the dollar-for-dollar cash bonus.
Along with one of the best ways to fund the SME, the government searched for new ways to increase productivity, as well as compatibility with other local businesses. Searching of new talent is partnered with the Trade Associations and Chambers (TACs) which work to attract the local. Students can apply for the talent programmes and obtain study scholarships along with job opportunities in an SME graduation.
The Talent Search Programme is one of the best ways to search for young talents who may be interested in small scale industries. This programme is designed to simplify the way to recruit graduates and competent heads to the industry which needs more strength and needs to compete with multinational companies that co-exist in the Singapore market. Other than recruiting, the talent programme also provides scholarship for management programmes and recruitment after the completion of the programme. This talent hunt by the government of Singapore basically aims at putting the best head, managers and entrepreneurs to either start new SMEs or guide the existing ones to increase their business.
The SMEs in Singapore work together to give half of the total economic activity of the country and therefore, this step has been learnt to provide better growth in overall industries and other economic activity. Furthermore, the Talent Search Programme also aims to recruit locals which will further improve the finances as the money will trickle down to the residents only. This supports the policy by the Government to reduce foreign workers in the small and medium scale industry in Singapore.
In addition to the Talent Search Programme, the Government has also taken substantial measures for job support and training so that the existing employees can also train and improve their skills and working capacity by integrating various measures that put their business in the forefront. The young graduates can then lead Registered Singapore Company (SME) and form a part of their industry and also collaborate with other firms aiding in exposure, more productivity and also better management.
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