Professional Conversion Programme – Get Funding To Offset Salary When Hiring New PMETs

April 27, 2021
|In Grant Advisory, HR Outsourcing
|By Kevin Yeo

In addition to the Jobs Growth Incentive which helps to lower the hiring costs of locals, companies may further tap on the Professional Conversion Programme (PCP) when hiring Professionals, Managers, Executives and Technicians (PMETs) to further reduce their salary expenses.

There are several types of PCPs and for this article, we will be focusing on the Place-and-Train (PNT) and Redeployment / Job Redesign (JR) Re-skilling. 

The place-and-train is where the PMET is hired by a participating company before undergoing training to take on the new role. JR is for companies undergoing internal restructuring. The existing PMETs might be rendered redundant due to the restructuring, the JR programme is to retrain and redesign the Job scope of these PMETs.

Benefits of The Professional Conversion Programme

In a nutshell, the PCP aims to encourage companies to be open to the possibility of hiring PMETs who are mid-career switchers.

WSG recognises that the PMET may not have all the necessary skillset required for the new job role. Thus, they are offering to help companies co-share up to 90% of the salary payable to the new hire. In return, the companies must commit to a structured plan in order to retrain and re-skill the new PMET hire.

The funding support from PCP is stacked on top of the Jobs Growth Incentive if the company is eligible.

Who Is Eligible For Professional Conversion Programme?

To enrol on this programme, the PMETs and companies must meet the following requirements:

PMETs

  • Singapore Citizen or Permanent Resident
  • At least 21 years of age
  • Have graduated or completed National Service for at least 2 years
  • The new job role must be substantially different from the previous one
  • Of no relations to shareholders of the hiring company
  • Not shareholders of the hiring company
  • Not ex-employees of the company or related entities

Company

  • Registered or incorporated in Singapore
  • Must offer employment with remuneration in line with the market rate
  • Commit to the PCP training requirements
  • Be cooperative with WSG or its appointed partner on the required administrative matters related to PCP
  • For applications for redeployment/JR Re-skilling PCPs, companies are required to submit details of their business transformation plan for evaluation by the appointed programme partners.

Funding Support From PCP

This funding support will be given to companies directly. The balance salary and course fees shall be borne by the companies.

Singapore Citizens and Permanent Residents below the age of 40

  • Salary Support – Up to 70% of monthly salary for PCP training duration (up to a maximum of S$4,000 monthly)
  • Course Fee Subsidy – Up to 70% course fees (subject to cap)
  • In-House Training: Up to S$15 hourly

Singapore Citizen Trainees Above 40 or Long Term Unemployed Singapore Citizen Trainees

  • Salary Support – Up to 90% of monthly salary for PCP training duration (up to a maximum of S$6,000 monthly)
  • Course Fee Subsidy – Up to 90% course fees (subject to cap)
  • In-House Training: Up to S$15 hourly

Get Funding Support For Your Next Hire In Singapore

If you would like to effective use the grants available to help you offset hiring costs, do feel free to get in touch with us for a non-obligatory consultation.

 

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