COMPANIES struggling to fill overseas postings with the right talent are getting more help to equip their next-generation workforce with relevant overseas experience.
The Global Ready Talent (GRT) programme, launched by Enterprise Singapore on Thursday, will provide funding to local enterprises that offer overseas stints for students, fresh graduates and young employees.
It aims to create a pipeline of talent that supports the global aspirations of Singapore companies, by exposing the younger workforce to overseas work opportunities and equipping them with skills related to internationalisation, said Enterprise Singapore. These skills range from business and in-market knowledge to better understanding of cultural and language nuances.
Said Png Cheong Boon, chief executive officer of Enterprise Singapore: "We encourage and support Singapore companies' efforts to seize new growth opportunities beyond our shores. However, for companies to succeed in their ventures abroad, besides having the right talent, they must ensure that these talents have the ability to understand and navigate the markets.
"GRT connects exciting regional opportunities from local enterprises with a pipeline of young talent keen to gain in-market experience. The companies we have with us today are committed to investing in grooming their talent, and we hope to see more of such companies coming on board this programme."
So far, 60 Singapore companies have signed up to offer 110 overseas internship positions and 86 management positions in a variety of industries including lifestyle and consumer, infocomm and media, trade and connectivity, manufacturing and engineering, and urban solutions and infrastructure services. A majority of the overseas placement positions will be in South-east Asia, China and India.
The positions should see strong take-up among students and recent graduates, judging by the results of a recent Enterprise Singapore survey of 3,000 students and 750 graduates from Institutes of Technical Education (ITEs), polytechnics and universities. About 86 per cent of students and 70 per cent of graduates said they were willing to consider an overseas job posting in South-east Asia, and 97 per cent were open to working in a Singapore enterprise.
The GRT programme is a combination of three existing programmes (the SME Talent Programme, Young Talent Programme and Go South-east Asia Award) and comprises two components with funding support for both.
The GRT (Internships) component involves local enterprises seeking support for their business expansion strategies. They will offer local and overseas internship placements to students from the ITEs, polytechnics and local universities.
Meanwhile, the GRT (Management Associate) component supports enterprises in training and deepening the in-market knowledge of their young Singaporean employees, who can be fresh graduates or young employees with up to three years of work experience. These companies will receive support to post such candidates to regional markets such as South-east Asia, China and India for at least one year.
Enterprise Singapore will partner trade associations and chambers (TACs) and institutes of higher learning (IHLs) to facilitate internship placements. In particular, it will work with TACs to assess enterprises that wish to join the programme, and with IHLs to encourage student participation.
Companies interested in the programme must be committed to internationalisation efforts and possess strong human capital practices, Enterprise Singapore said. This includes having a clear job scope, learning objectives and mentorship plans for internships, and clear and structured training and development plans with significant overseas exposure for the management associate positions.