Spring Singapore is helping to groom bosses of small and medium-sized enterprises (SMEs) into world-class managers.
They can take management development courses offered by the National University of Singapore (NUS), Nanyang Technological University (NTU) and Singapore Management University to upgrade their skills.
The $20 million Spring Singapore Management Development Programme launched in April aims to train 1,000 chief executive officers and senior managers of SMEs over the next five years.
Starting this month, the first batch of 25 CEOs and senior managers will spend 18 months studying for the customised executive master's degree in business administration offered by NUS and NTU.
Apart from acquiring additional knowledge, the strong network they build will also benefit their businesses.
Spring Singapore's new programme will assist SMEs to recruit, develop and retain the talent they need to grow.
These enterprises often lose out to larger firms with better brand names and more resources in the global competition for talent.
This problem was highlighted in last year's annual SME development survey conducted by DP Info, Singapore's leading provider of credit and business information services.
Joining an SME may not be the first choice for many job-seekers in a growing economy with a low rate of unemployment, says DP Info's managing director, Ms Chen Yew Nah.
'There is a perception that multinational corporations and government-linked companies offer superior benefits, career opportunities and job security,' says Ms Chen.
'SMEs, however, can be dynamic and exciting workplaces offering good remuneration, flexibility and high levels of job satisfaction.
'Working for an SME can often be a fast track to greater responsibility and experience. It is a continuing challenge for SMEs to make themselves more attractive for potential employees to join and remain in SMEs.'
Spring Singapore is urging SMEs to map out career paths for employees to entice the recruits they want to hire.
SMEs can also work with educational institutions, participate in career fairs and tap the expertise of professional recruiters to get the right staff.
Spring Singapore is also working with key industry associations to identify gaps and possible solutions to facilitate the supply of skilled manpower to SMEs.
It notes that several associations plan to offer new scholarships. They will also strive to spruce up the image and enhance the standards of professionalism in the industries they represent.
