Incentives for Skills

Upskilling should come with government rewards.

Incentives for Skills

Asia Pacific

Randstad research has found 90 per cent  of employers in South East Asia believe the government should offer incentives such as tax rebates and subsidies if they choose to further develop their professional competencies. The compares with eight in 10 employees across the world. In Singapore, a whopping 92 per cent said that the government should offer incentives to employees if they choose to develop their professional competencies or remain in the workforce.

Jaya Dass, managing director of Randstad Singapore said: “It is critical for the workforce to constantly keep up with the rapid rate of change necessary to advance in their careers. Singapore employees can tap into public initiatives such as SkillsFuture and Professional Conversion Programmes (PCPs) to deepen their capabilities and acquire relevant skills and experiences required to deliver higher value to their jobs. Local institutions are already providing subsidised courses to encourage professionals to upskill and re-skill. With the acquisition of new knowledge and deeper capabilities, employees will also be able to command a higher salary and benefits package due to limited talent in high-demand sectors.”

Singapore

Compared to the region, the sentiment is highest in Singapore with 92 per cent of employees seeking more incentives from the government if they stay employed. The survey also revealed a higher expectation of the government from the female population (94 per cent) than men (87 per cent). Experienced professionals are also more eager to receive these incentives than the younger population as they are likely to pay more for training programmes to deepen their professional capabilities.

 

Hong Kong SAR.

Employees in Hong Kong have a similar expectation around incentives as Malaysian employees. 91 per cent of Hong Kongers believe that the government should offer tax rebates or subsidies to encourage employees to stay employable or to develop their professional competencies. There is also a slightly higher expectation from the male population (92 per cent) than women in the workforce (90 per cent). The younger employees between the age of 18 and 34 expect more financial support from the government to acquire highly demanded skills to potentially offset or better manage the high cost of living in Hong Kong.

 

Malaysia

Nine in 10 Malaysian employees expect more incentive support from the government to encourage them to retain their employment status. Despite it being higher than the global average, this is the lowest across the three markets. More women in the workforce said that the government should offer policy incentives (92 per cent) as compared to men (89 per cent). Unlike Hong Kong, there are more experienced professionals in Malaysia (93 per cent) seeking policy incentives from the government to ensure employability.



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