3 Enterprise Singapore Initiatives to Boost Human Resource Operations
SMEs can enjoy yet another grant to aid their business operations and development.
In a collaboration with the Ministry of Manpower and other agencies, Enterprise Singapore has commenced 2 new initiatives and improved on an existing measure, all in the hopes of boosting human resource operations.
On 6 April 2018 at the Institute for Human Resource Professionals (IHRP) Conferment ceremony, Josephine Teo (Second Minister of Manpower and Home Affairs) shared how HR operations could benefits from these measures.
Namely, it would ease the access to self-help human resources, enhance HR shared services for more efficient operations and encourage businesses to leverage on data and technology.
HR Shared Services Scheme (HRSS)
This scheme allows companies to utilise trained HR professionals and outsource human resource functions that are more manual and operational in nature (e.g. payroll and admin claims). Since 2015, HRSS has empowered more than 130 companies. In a 12-month pilot period each company was able to save 68 man-days on average. With the enhanced “fixed price” scheme, companies will not have to directly negotiate with service providers.
Online Self-Help Human Resource Portal
The online self-help human resource portal for businesses was jointly launched in March by Enterprise Singapore, Chartered Institute of Personnel and Development (CIPD) and NTUC Learning Hub. The easy-to-use portal is home to self-help HR resources like best practices and solutions to common problems.
HR Tech Pilot Programme
The HR Tech pilot encourages companies to leverage on innovative HR technologies. Companies can choose from several HR Tech solutions that are appointed by Enterprise Singapore to become more operationally efficient. The initiative aims to streamline recruitment processes and boost employee development programmes.
To aid the utilisation of technology in HR activities, Enterprise Singapore is holding a 1-year pilot programme for businesses. Companies can cut costs when they adopt these solutions in their HR activities and put resources to better use in other areas of the business.
Businesses can choose from the following 4 HR Tech solution areas:
Compensation and benefits
Learning and development
Recruitment and Selection
Under this pilot programme, businesses are entitled to a funding of up to 50% on the costs of the project.
How can my company be part of the HR Tech pilot?
Before getting started, make sure your company meet the following eligibility criteria.
If your company are eligible, here’s how to go about the application process.
First, choose one of the appointed service providers from the list below.
Next, fill up the HR Tech Project Template form.
In your company Business Grant Portal (BGP) account, navigate to Human Capital Development.
Lastly, submit your application form and project proposal onto the portal.
More details about the application process can be found on Enterprise Singapore’s website here.
With such a generous grant and the easy application process, SMEs in Singapore should take advantage of this opportunity to streamline their HR operations. Other than more efficient HR workflow processes, there could be potential spillover effects to the company. Some of these benefits include increases in productivity and freeing up resources to be used in other essential areas of the business. So what are you waiting for? Strike while the iron is hot and see your business flourish today!
You may have noticed that Mednefits is one of the appointed service providers.
Adapted from the article "Enterprise Singapore launches three initiatives to boost human resource operations" originally published on The Straits Times.
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