SMEs are the lifeblood of economies and the best hope of employment for the largest number of people – Michael Sippitt, Chairman of the Commonwealth Environmental Investment.
How SME can attract and retain top talent and leaders through SkillsFuture Mentors Program?
In Singapore, there are over 180,000 Small and Medium-sized Enterprises (SMEs) which represents 99% of total companies. These SMEs employ 70% of the local workforce, contributing over 50% of Singapore GDP. This signifies the importance of SMEs in Singapore, as they remain the backbone of the country’s economic progress.
The critical success factor for any SME is its ability to attract and retain top talent and leaders. In a country with limited natural resource, people and their ability to upskill will increasingly be the lifeblood for many SMEs. The Singapore government recognises these importance and have implemented the SkillsFuture program coupled with various grants to help SMEs in this area.
SMEs would also have to rethink about their strategy and outlook towards attracting talents and developing their leaders. The competition for talent from MNCs and the global economy will continue to exist. SMEs would have to create their own unique Organisation Branding to remain relevant and attractive for these talent. Below are some of the government programs and funding that can help SMEs build up their Human Capital Capabilities:-
SkillsFuture Mentor Program
SkillsFuture Mentors programme is a SkillsFuture initiative that aims to enhance SMEs’ capabilities in learning & development and to build up their value proposition as employers of choice offering good career development and growth opportunities. By understanding the SME’s business strategy and needs, the SkillsFuture Mentor is able to help the company skill up their people to meet their business goals.
The mentors will help participating SMEs enhance their systems and processes for learning and development. They will also coach managers and supervisors to improve their team performance.
ENTERPRISE Singapore (ESG) provides 100% funding support to the participating SMEs for the nine-months programme.
Success Stories and Feedback from our SME Customers
What were the changes you see in yourself after the guidance from the SkillsFuture Mentor?
“It has expanded my perspective on situations in work and life. The SF Mentor created self-awareness and realisation through the open & safe sharing. She facilitated the process for me to find my own customised solution. The solution has been working well for me to-date. The SF Mentor shared relevant principles/concepts to enhance my coaching skills to develop team members.” Desmond H. (Senior Service Manager)
“I am now able to help my team develop their confidence and competency with the equipped skills. They can play a stronger role in contributing to the company. By delegating job tasks to team members based on their competency and ability, I am able to help them set reachable goals and to break difficult tasks into smaller achievable steps. Through the guidance of the SF Mentor, I am able to focus on team members strength and encourage them to put their skill to practice with confidence.” Gerald C. (Senior Sales Manager)
“Through this program, we now have a structured training plan with training analysis & individual need analysis. We can continue to identify training needs for all the other employees. The SF Mentor helped us improve our coaching skills.” Cynthia N. (HR Manager)
Check out the video below by Enterprise Singapore on the SkilsFuture Mentor programme.
HR Maturity Diagnostics (HRMD) for SMEs
SMEs who want to strengthen their HR capabilities but do not know where to start can tap on the assistance provided by Enterprise Singapore to use the HR Diagnostic tool. The HR Diagnostic tool aims to help SMEs understand their current state of HR maturity and identify gaps for improvement, across 11 HR functional areas such as recruitment, training and development, performance management, talent management and employee engagement. HR maturity describes the state of a company’s leadership and mind-set towards human capital, including its practices and processes.
Upon completion of the diagnosis, SMEs will receive a report with an analysis of their current HR maturity level, including its strengths and opportunities for improvement. Discussions on actionable steps that the SMEs could take to improve its HR practices would then take place. ESG provides the diagnostics tools at no cost to qualified SMEs.
Our coaches are trained in HRMD by Korn Ferry HayGroup and would be able to guide you through the diagnostic process. For more information, please contact us or visit SME Portal HRMD website for more information.
Leadership Development Plan (LDP)
Leadership Development Initiative supports the development and implementation of a Leadership Development Plan (LDP). This initiative aims to catalyse SMEs to adopt a strategic approach towards leadership development, strengthen leadership competencies of key leaders and facilitate succession planning of their high potential staff.
For more information about the Leadership Development Initiative, please refer to the SkillsFuture LDI program.
The SME Talent Programme (STP) helps local SMEs attract talents from the Institute of Technical Education (ITE), Polytechnics and Universities, through student internships, study sponsorship and fresh hire training.
SMEs are eligible for up to 70% funding support covering the internship, sponsorship or fresh hire training. Building a robust Learning and Development program is part of building an Organisation Branding to attract talent to SMEs. Our coaches have helped SMEs enhance their Learning and Development capabilities that are aligned to the criteria set out by ESG Singapore. Please contact us for more information or visit ESG SME Talent Program (STP) website.