An estimated 4,500 workers to see 'real wage growth of about five per cent above their annual increment'
Around 4,500 employees from approximately 260 organisations will receive a wage hike of about five per cent, thanks to the NTUC Company Training Committee (CTC) Grants.
The NTUC CTC Grant, managed by the NTUC's Employment and Employability Institute, provides organisations with up to 70% of qualifying training costs to support their transformation efforts.
NTUC Secretary-General Ng Chee Meng said nearly 6,000 workers from approximately 260 companies will see wage increases and enhanced career development opportunities from the grants.
"Nearly three-quarters of them will benefit from real wage growth of about five per cent above their annual increment, while the rest will enjoy structured career pathways through Career Development Plans," Ng said as quoted in an article for the NTUC.
According to Ng, the grant now also covers in-house or external training programmes tied to their transformation projects.
"The CTC is an NTUC innovation that would enable workers to gain access to training, better wages, welfare, and work prospects," he said. "We will continue to partner with companies and the Government to ensure that the CTCs remain a win-win outcome for all."
To be eligible for the grant, organisations must first form their Company Training Committees (CTC), bringing together management staff, union representatives, and relevant partners to develop concrete-level transformation plans to ensure the workforce remains future-ready.
Over 2,700 CTCs have been established their launch in February 2019, surpassing the initial target of 2,500 by 2025, according to the NTUC.
Among the targeted outcomes for the grant are enterprise transformation, such as enhanced business capabilities, innovation, and/or productivity.
It also aims for workforce transformation, such as better career prospects and better wages for employees.
