SINGAPORE - Companies need to play ball in providing attachments and traineeships to engage workers who had been retrenched amid the Covid-19 outbreak, said Senior Minister Tharman Shanmugaratnam on Thursday , adding that the Government will be"very generous" in supporting their efforts.
"We're going to be very generous in doing that, and, effectively, the state will pay for a good part of the wages or allowances, of those who have these traineeships and attachments," he added. Firms know that they will ultimately need to hire more people to grow their business, and the Government's role is to"help them to bring forward hiring to today, this year next year", he added in a dialogue with DBS chief executive Piyush Gupta and Professor Raghuram G. Rajan of the University of Chicago.
Prolonged unemployment will also put a strain on the psyche of workers who had been made redundant, he added. In the first phase of the crisis, governments have helped firms to"keep workers where they can, even if it's preserving jobs which may not be relevant two or three years from now", he said. "So, they keep accumulating skills," he said, even if workers' placements"may not be the same type of firm or exactly the same industry, it may be an adjacent industry".
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