Is $500 too small for further learning?
A survey by the Institute of Singapore Chartered Accountants (ISCA) revealed that while most Singaporeans intend to use their $500 SkillsFuture credit, there are certain hurdles to making the most of this national movement.
ISCA’s survey revealed that there is good level of awareness of the SkillsFuture development effort with only 14% of respondents indicating that they are not aware of this national movement. 75% of respondents expressed that they intend to tap on the SkillsFuture programmes and initiatives in the short-term of 1 to 3 years.
Around half (55%) of the respondents indicated that the initial SkillsFuture Credit will be effective in starting them on the journey of continuous learning. Over a third or 29% of respondents were undecided.
However, almost half or 47% of the respondents cite time as the key challenge for them in starting the journey of continuous learning. Another 30% said that the lack of support system, such as employer support will be the biggest hurdle, while 20% said that individual motivation will keep them from embarking on SkillsFuture.
Some respondents also noted that the $500 credit is insufficient and request for greater flexibility in the eligibility of courses beyond work-skills related courses supported by public agencies.
Some respondents suggest that unstructured training, such as books or even subscriptions to business websites be eligible for SkillsFuture Credit.
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