COMPANIES seeking to expand overseas can receive up to S$72,000 in salary and overseas allowance support to send their employees abroad under a new Workforce Singapore (WSG) programme.
Under the Overseas Markets Immersion Programme (OMIP), companies can receive salary and overseas allowance support of 70 per cent, capped at S$5,000 and S$3,000 a month, respectively, for up to nine months for each eligible employee they send for an overseas posting.
To qualify, companies must pay employees on an overseas posting a fixed monthly salary of at least S$4,000, said WSG on Friday (Nov 15). They must also provide a detailed career development plan outlining progression over 24 months, along with “quantifiable short-term KPIs (key performance indicators) to be achieved after training”.
More than 100 companies are expected to benefit from the new programme. WSG has set aside S$16 million for the initial run, enough to support up to 250 local employees posted overseas for at least six months over a period of two years. The Singapore Business Federation (SBF) has been appointed by WSG as the first OMIP programme partner, and will work with companies to explore internationalisation opportunities. It will also work with companies to develop training plans for the employees that they wish to send overseas.
Eligible individuals can expect overseas postings in roles such as global and regional sales and marketing, regional business development, market analysis and franchise operations, said WSG. They will undergo on-the-job, in-market training to “gain a deeper understanding of diverse business operating environments”, it added.
Employees can also expect to benefit from networking opportunities with international counterparts, where they can learn about the culture of the foreign market and business practices there.
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WSG chief executive Dilys Boey said: “The launch of OMIP marks a significant milestone in WSG’s efforts to enable overseas business expansion, by building our local workforce with experience to operate in complex, overseas markets.”
She added: “By immersing our talent in diverse overseas markets, we aim to empower individuals to take charge of their career health and seize new growth opportunities overseas.”
SBF chief executive Kok Ping Soon said: “Establishing overseas operations is a complex undertaking that requires careful planning, risk management, good knowledge of the markets, as well as a strong focus on human capital, which is possibly the most critical asset in an overseas operation.”
With more businesses keen to expand overseas, the business chamber hopes that Singapore businesses will see the usefulness of the OMIP, he noted.
