Firms in Singapore eligible for Job Growth Incentive will receive payouts automatically from March 2021 | Malay Mail

The incentive will support companies when they hire local employees over the next six months by subsidising the salaries of all these new local hires in firms that qualify for one year, subject to a cap. — TODAY

The incentive, announced by Deputy Prime Minister Heng Swee Keat last month, will support companies when they hire local employees over the next six months, by subsidising the salaries of all these new local hires in firms that qualify for one year, subject to a cap. To be eligible for the salary support, employers must have achieved an increase in their local workforce in the period from September to February next year, compared with the size of their local workforce in August this year.

For each new local hire aged below 40, the authorities will co-pay 25 per cent of the first S$5,000 of gross monthly wages for 12 months from the month of hire. In order to receive the full amount of wage support, companies must also continue to meet the eligibility criteria for the 12-month period.

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