An additional S$150m has been earmarked for the training of professionals under the Skills Programme for Upgrading and Resilience (SPUR).

The additional money brings SPUR’s operating fund to S$750 million over the next two years. This was announced in Budget 2009.

SPUR was set up to help Singaporeans upgrade their skills so that they can stay employed or seek re-employment.

But how much help is such a retraining programme to the professionals and what are the long-term implications?

One quarter of the 900 people retrenched by DBS Bank last November have joined professional conversion courses or are already working in a different industry.

And with universities now coming on board to help professionals re-skill for a new industry, this number is expected to go up.

Where could retrained professionals be employed?

Companies set up for a social cause are getting more tax incentives in this year’s Budget, so some say it may be timely to get trained for this sector.

Associate Professor Annie Koh, Singapore Management University’s Dean for Executive & Professional Education, said: “I would think that a lot of them would love to work in the non-profit sector. But how many people know about non-profit (sector)? So we are not going to make them social workers. They could have accounting skills and they could be attached to a non-profit (organisation) to look at how to professionalise it.”

Other industries that are looking to hire retrained professionals include healthcare, education, clean energy and tourism.

As one undergoes training under SPUR, he will also be entitled to a monthly allowance not exceeding $1,000 from the government to help him with his expenditure.

Together with a 90 per cent course fee subsidy, it makes professional conversion programmes an attractive option.

But the question is: how high will attrition rates be a few years down the road when the economy recovers and people decide to go back to their old areas of expertise?

Ang Hin Kee, CEO of Employment & Employability Institute (E2i), said: “Give and take, 10, 15 per cent attrition happens in every other industry in terms of turnover. So if that happens, I guess it is part and parcel of business.”

To keep attrition low, there is a screening process for those applying for professional conversion programmes.

E2i also holds career seminars to help professionals understand the sector they are getting into.

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