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