New Jobs Development Partners to proactively work with firms to create new roles, Government & Economy

Fri, Oct 16, 2020 – 3:34 PM

TO help firms create new jobs and traineeship opportunities more proactively, the National Jobs Council has appointed the Singapore Business Federation (SBF), the Institute of Banking & Finance (IBF), and NTUC’s Employment and Employability Institute (e2i) as Jobs Development Partners (JDPs).

The three institutions will “go beyond preparing and matching Singaporeans to existing job vacancies”, by identifying companies with hiring potential and helping them to create or redesign jobs, the National Jobs Council said in a press statement on Friday.

They will work with the government’s tripartite partners to identify gaps between the requisite skillsets for new roles and jobseekers’ existing skills, and work with the companies and training providers on suitable training programmes to plug these gaps.

The SBF, for instance, will explore opportunities for its member companies to internationalise and engage in cross-border B2B e-commerce. Together with e2i, the federation will train a pool of individuals who can be deployed into these companies to support their transformation efforts.

e2i and SBF will also advise companies on the skills and talent available in the market and help facilitate the placement of jobseekers into the new roles.

The IBF, in collaboration with the Monetary Authority of Singapore, will step up to its role as a partner by launching a six-monthly survey on hiring opportunities and potential job losses in the financial services sector. Based on the data, the IBF will reach out to relevant financial institutions to support their affected staff through pre-emptive reskilling and possible redeployment within the firm or the industry.

Thus far, the IBF has focused on supporting workers who are in job roles that are being transformed due to the wider adoption of technology in financial services.

The survey data will also help the institute prioritise new training and attachment programmes for mid-career professionals making career transitions.

The IBF will also complement its pool of professional career coaches with senior financial services practitioners as adjunct coaches, who will be able to share specialised knowledge and experience. It also plans to hold more targeted career fairs that will bring the hiring and traineeship opportunities offered by various financial institutions onto a common platform.

The new appointments were announced on Friday in conjunction with Senior Minister Tharman Shanmugaratnam’s learning journey to OCBC’s headquarters on Chulia Street, organised by OCBC and the IBF.

Urging companies to make use of these partnerships, Mr Tharman said: “Many companies are looking to adapt or transform their operations in light of Covid-19. This presents opportunities for companies to create or redesign jobs. The JDPs will work proactively with firms to help individuals to equip themselves for these new roles.”

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