The Career Conversion Program is another notable initiative in Singapore, offering mid-career individuals a platform to switch to entirely new careers or industries. This program provides comprehensive training and financial support to help mid-career professionals acquire the skills and knowledge needed for roles in sectors with high growth potential.
Key Aspects of the Career Conversion Program:
- Industry Relevance: The program focuses on equipping individuals with skills that are in demand in industries experiencing growth. This ensures that program participants can find stable and rewarding employment in their new careers.
- Customized Training: Training under this program is tailored to the needs of each participant, addressing gaps in knowledge and skills required for their new roles.
- Funding Support: Financial assistance is available to help offset the costs of training and education, making it more accessible for mid-career individuals who wish to make a significant career change.
- Career Guidance: Career Conversion Program participants benefit from career guidance and mentorship, enabling them to navigate their transition successfully.
- Positive Outcomes: The program has proven effective in facilitating successful career shifts, helping individuals find fulfilment in their new roles and contributing to the overall workforce growth.
Funding Table:
| Type of Employee | Duration of Claim | Singapore Citizen (SC) & Permanent Resident (SPR) – below 40 years old | Singapore Citizen (SC) & Permanent Resident (SPR) – above 40 years old or long term unemployed |
| New Hire | Up to 4 Months | Up to 70% of Fixed Monthly Salary (Capped at Maximum of $4,000/month of claim) | Up to 90% of Fixed Monthly Salary (Capped at Maximum of $6,000/month of claim) |
| Existing Employee | Up to 6 Months |
Eligibility Criteria:
- Registered or incorporated in Singapore with a valid Unique Entity Number (UEN) with Accounting and Corporate Regulatory Authority (ACRA);
- Ensure that new hires / existing staff cannot be:
- A shareholder of the CCP company, or its related companies;
- Related to the owner(s) of the company; and
- (For New Hires only) Immediate ex-staff of the company or its related companies.
- (For new hires only) Offer a full-time PMET position employment contract on permanent terms or on contract terms that are no less than one (1) year;
- Offer employment directly related to the job which the CCP is for, with remuneration that is aligned to the market rate;
- Must put in place On-the-Job Training for the trainees; and
- Commit to CCP training arrangements for the trainees
