SPRING unveils $30mln initiative to build SMEs' talent pool

2 talent training programmes aim to produce 2,000 fresh talents for SMEs in next 5 years.

Two new programmes by SPRING Singapore targeted at tertiary students and university graduates will help build a talent pipeline for SMEs. With stiff competition in the job market, SMEs frequently face difficulties in attracting fresh talents. The new programmes aim to change this and offer students and graduates the opportunity to experience the rewarding career prospects of working in an SME. At the same time, this will help build capabilities within the SMEs to gear them up for growth.

Close to $30 million has been set aside for the two programmes. The first, Management Associate Partnership (MAP), works with high-growth SMEs as partners to attract, develop and retain fresh talents. Targeting local university graduates, SPRING will co-fund these SMEs to train the graduates to run core and expanding operations of the company. The graduates will benefit from an accelerated learning path, coupled with coaching and mentoring by the SME senior management team over an 18-month period. Qualifying SMEs can receive up to $15,000 grant for the training and development of each Management Associate, according to a SPRING report.

The second programme Enterprise Internship Programme (EIP) seeks to expose local university and polytechnic students to the dynamic and rewarding working environment in high-growth SMEs through short term internships. SPRING will co-fund with the SMEs the internship stipend and book prize. SPRING will also co-fund a leadership development activity for the interns. This programme will complement MAP in influencing young entrepreneurial talents during their school days to consider SMEs as an attractive career choice.

The two programmes aim to attract 2,000 fresh talents into the SMEs over the next 5 years. SPRING will work with SMEs and local Institutes of Higher Learning (IHLs) on the participation and profiling of high-growth SMEs at career fairs. Under the banner of Careers@Enterprise, the career fairs will be supported by an online portal to profile SME employers and the career opportunities.

At the Business Leaders Forum on Wednesday, SPRING Chairman Mr Philip Yeo shared that it was critical for SMEs to attract the young talents to help them drive promising SMEs to become globally competitive companies. “These efforts aim to establish SMEs who are committed to talent development as Employers of Choice over time. Through these initiatives, SPRING will provide SMEs with a leg up in attracting, developing and retaining talent.”

Jason Marine, a leading provider of integrated solutions for the marine and offshore oil and gas industries, is growing aggressively. Founder and CEO Mr Joseph Foo is looking for more talents to nurture and believes that bountiful opportunities can attract graduates deciding between working for an SME or MNC. “An MNC is departmentalised and you only carry out one specific function. However, in an SME, you are exposed to various responsibilities within the company and have the opportunity to learn many different functions. The MAP will certainly help us gain greater visibility among a wider pool of graduates from not just engineering, but other disciplines as well.”

Ms Jamie Lim, Regional Marketing Director of Hawaii Furnishings (Scanteak) commented that it is not easy to find smart and analytical graduates who are also resourceful, able to gain the trust of customers and relate well to people from the shop floor to management. “As the company is growing very quickly, we are always on the lookout for such graduates and business interns who can take on key assignments in sales and marketing across our Singapore and Japanese operations.” She welcomes SPRING’s support towards training of the graduates, to infuse creative energy and upgrade operational capabilities within the company.

Mr Kang Puay Seng, Managing Director of Super Bean International Pte Ltd gave positive comments on the EIP. “The opportunity to engage and connect with quality students while they are still in school will give me a head start in my search for future leaders of the company. Engaging them before they graduate is a bold step forward and a good approach by SPRING to expose students to the SME environment.”

These two programmes are part of SPRING’s Business Leaders’ Initiative, which looks at developing leaders at every level of high-growth enterprises. Since 2007, it has received a very encouraging response from the SMEs.

Targeting at CEOs and senior executives, more than 400 have participated in the Advanced Management Programme (AMP) to upgrade their leadership and management capabilities. 50 promising mid-managers have been awarded the Management Development Scholarship (MDS) for part-time or full-time MBA programmes while 90 undergraduates have been awarded the Executive Development Scholarship (EDS). These undergraduates will serve a 2-year bond with SPRING upon graduation, where they will be deployed to work at SMEs or associations.

Under the AMP, a new business club has recently been formed by its alumni members. Called the Business Leaders Alumni Club (BLAC), it serves to further harness the learning journey and networking among like-minded business leaders.