Firms can tap CSP to hire older PMETs and get salary support
Mr Victor Hong was unemployed for 10 months before he was hired by accounting firm KLP in 2018 to handle quality assurance.
The career switch from working as a manager in the telecommunications industry meant he had to learn the basics of accounting to fulfil his role.
However, he took the hurdles in his stride.
Mr Hong, 63, told The New Paper: "I am happy that I got a job despite being so close to retirement, and I can still sustain myself and be independent."
His employment was made possible with Workforce Singapore's (WSG) Career Support Programme (CSP), which was launched in 2015 to provide salary support to employers who are open and looking to hire eligible Singaporean professionals, managers, executives and technicians (PMETs).
Companies who are still hiring during this period can tap on the CSP to receive up to 18 months of salary support, capped at $42,000 to defray wage costs.
Over the years, the CSP has been further enhanced to provide higher salary support to mature Singaporean PMETs who have been unemployed and actively seeking jobs for at least six months or made redundant.
Employers will gain greater access to a pool of experienced and skilled PMETs, while individuals, including mature job seekers, will be able to land a job that matches their salary expectations.
The CSP is part of WSG's Adapt and Grow initiative, which has helped over 100,000 job seekers get placed into new jobs since 2016.
On hiring Mr Hong using the CSP, KLP managing partner Lim Yeong Seng said: "(His) IT expertise and experience have helped fill the gap in our team.
"The CSP also allows older workers time to adapt and get up to speed with the younger staff."
IT solutions company Percept Solutions has utilised the CSP for eight employees since December and uses some salary support funding to upskill them.
One of them is a 62-year-old Singaporean who used to work for a multinational corporation, said Percept Solutions director and chief country officer Satish Kosaraju.
The employee's expansive skill set and 20 years of work experience proved advantageous to the company's projects.
Mr Kosaraju said: "It is a win-win situation. It also minimises the risk of hiring someone who has been unemployed for five years."
For more information on CSP, visit go.gov.sg/tnp-may2020