NTUC launches benefit package for SME workers

For an additional $10 a month per employee, SMEs can tap into a new initiative of the NTUC

NTUC launches benefit package for SME workers
For an additional $10 a month per employee, small- and medium-sized enterprises (SMEs) can tap into a new initiative of the National Trades Union Congress (NTUC) to bolster their workers’ welfare.

The funds pay for the recently-launched NTUC Club Corporate Membership Scheme (NCCMS). Employees will be able to apply for scholarships, bursaries and NTUC U Care vouchers. Other benefits include access to club facilities, participation in sports and recreational activities, and promotions from NTUC merchant partners.

NCCMS is only open to SMEs who have signed a memorandum of understanding (MOU) with NTUC’s U SME. It currently has signed over 100 MOUs with 16 trade associations representing SMEs, along with individual SMEs as well.

The initiative came as a response to feedback from SMEs, who said they faced challenges in providing staff welfare due to a lack of resources.

“The companies also have problems in trying to match to bigger companies with the kind of staff benefits that they can extend to their workers,” said NTUC assistant director-general Yeo Guat Kwang, who oversees U SME.

By extending such benefits, SMEs will be more equipped to retain their workers, Yeo added. NTUC cited the case of Greenpac Singapore CEO Susana Chong. She said her company does have its own welfare, but it has always been a cost issue. As an SME, the challenge they face is the resources. The SME employs 40 workers.


Related stories:
APAC companies struggling to attract top talent
Singapore bank offers 20-week maternity and adoption leave
 

Free newsletter

Our daily newsletter is FREE and keeps you up-to-date with the world of HR. Please complete the form below and click on subscribe for daily newsletters from HRD Asia.

Recent articles & video

HR lacks critical leadership support to transform

Manila’s IT talent to tackle Industry 4.0 challenges

Google workers and investors join forces at shareholder meeting

What is the future of HR tech?

Most Read Articles

How HR can support working dads

Many jobs remain unfilled in Singapore: MOM

Why diversity and inclusion policies are failing