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Advantage Scheme

What ADVANTAGE! Support

The enhanced ADVANTAGE! Scheme now offers a grant of up to $400,000 to support your company’s initiatives and efforts in the following areas:

 

1) Recruitment of new workers aged 40 and above
2) Retention of existing workers aged 55 to 61
3) Re-employment of existing workers aged 62 and above

 

It also supports initiatives to implement HR systems for the retention and re-employment of mature workers.  These may include, but not limited to:

 

  • Wage restructuring – From seniority-based wages to more job-based, competency-based and performance-based wages
  • Institution of re-employment policy
  • Institution of non-discriminatory recruitment/hiring policy
  • Career and retirement counselling especially for workers withdrawing their CPF at age 55
  • Redesigning of medical benefits – To fixed quantum per worker so as not to disadvantage cost competitiveness of mature workers
  • Introduction of part-time work to attract economically inactive workers
  • Improving working environment to help mature workers to be more productive
  • Skills upgrading or re-skilling of mature workers
  • Health promotion programmes
  • Performance management systems
  • Job re-design to raise productivity or introduce new roles and responsibilities for mature workers

 

How does ADVANTAGE! work



The enhanced ADVANTAGE! scheme is open to companies registered or based in Singapore.  Upon successful application, your company may receive a grant amount of up to S$400,000.

 

The grant will fund the cost of your company’s efforts to recruit, retain or re-employ mature workers, including the developing and/or implementing of re-employment systems.  These may include costs incurred for training, absentee payroll, staff salary, consultancy, Intellectual Property Rights and equipment.  The grant, however, cannot be used for the purposes of retention bonus or salary support.

 

Companies applying for the ADVANTAGE! Grant is required to submit the following:

 

1. A simple proposal of their project, stating:
a) Number of workers aged 40 and above to be recruited and/or,
b) Number of workers aged 55-61 to be retained and/or,
c) Number of workers aged 62 and above to be re-employed
d) Details of its re-employment system

 

2. A statement declaring the estimated cost of the project

 

If your company is currently employing workers aged 55 and above, you will need to commit to at least Option B and/or C.

 

If your company does not currently employ any staff aged 55 and above, you may still apply for ADVANTAGE! but only for Option A (recruitment only) and the grant amount will be capped at S$100,000 per company.

 

Grant Computation

 

The method of calculation of the grant amount will be based on:

 

A. Number of workers aged 40 and above to be recruited x $3,000 +
B. Number of workers aged 55-61 to be retained x $3,000 +
C. Number of workers aged 62 and above to be re-employed x $4,000

 

OR

 

80% of declared project cost

 

Whichever is lower, subject to a cap of $400,000, per company.

 

If your company has received ADVANTAGE! grants before, you are still eligible to apply for the enhanced ADVANTAGE! Scheme. The total cumulative grant that your company may receive for all the ADVANTAGE! Projects will be subject to an overall cap of $400,000.

 

Grant Disbursement

 

The grant will be disbursed over three tranches and it is tied to the achievement of the following outcomes within a year:

 

Disbursement Tranche

Outcomes

Recruitment of new workers 40 and above

Retention of existing staff 55-61

Re-employment of existing staff 62 and above

1st Tranche – 30%

Efforts made to recruit mature
workers through job advertisements, indicating that mature workers are
welcome

New re-employment system announced or committed to
staff/union, e.g. through HR circulars or new re-employment clauses in
Collective Agreements

New re-employment system announced or committed to
staff/union, e.g. through HR circulars or new re-employment clauses in
Collective Agreements

2nd Tranche – 30%

At least 50% of recruitment target achieved six months
after 1st disbursement

At least 70% retention rate achieved six months after
1st disbursement

At least 70% of staff re-employed six months after 1st
disbursement

3rd Tranche – 40%

100% of recruitment target achieved nine months after
1st disbursement

At least 50% three-month retention rate achieved

At least 70% retention rate sustained 12 months after
1st disbursement

At least 70% of staff continue to be re-employed 12
months after 1st disbursement