Singapore launches Overseas Markets Immersion Programme to boost workforce internationalisation

Companies seeking to give employees international exposure can now access government funding through Workforce Singapore’s (WSG) new Overseas Markets Immersion Programme, announced by Minister for Manpower Tan See Leng on 15 November 2024.

The programme offers firms financial support to cover 70 per cent of a deployed employee’s salary and overseas allowance, capped at S$5,000 and S$3,000 per month respectively. Each eligible employee may receive total support of up to S$72,000 over a nine-month overseas stint.

“In our interconnected world, overseas experience is vital for nurturing a globally competitive workforce,” Dr Tan said during the launch. “This programme provides a robust framework for our companies to groom employees for the challenges and opportunities of international markets.”

Requirements for participation

To qualify, companies must be registered in Singapore and offer a fixed monthly salary of at least S$4,000 to employees sent abroad. A comprehensive 24-month career development plan and measurable short-term key performance indicators are also required.

“Such structured plans ensure that the programme delivers tangible benefits to both the company and the employee,” said Ms Dilys Boey, chief executive of WSG. “Participants gain meaningful exposure, and firms build long-term capabilities.”

Programme funding and initial targets

WSG has allocated S$16 million to the programme’s initial phase, which will support up to 250 local employees over two years. Employees must undertake overseas postings of at least six months.

SBF, the Singapore Business Federation, will assist companies in crafting tailored training plans. According to WSG and SBF, over 100 firms with internationalisation ambitions have already expressed interest.

“This funding signals our commitment to equipping Singapore’s workforce with the skills needed to thrive globally,” said Dr Tan.

Seventeen trade associations and chambers, including the Singapore Manufacturing Federation, have endorsed the initiative. Their involvement aims to encourage industry-wide participation.

Benefits for businesses and employees

Dr Tan emphasised the value of overseas exposure, sharing insights from his own career. “Living and working abroad can be life-changing, offering unparalleled opportunities for professional and personal growth,” he said.

However, he acknowledged challenges such as family responsibilities and fears of losing staff. “These are valid concerns, but the rewards—for individuals and companies alike—can far outweigh the risks.”

Ms Boey added that the programme aligns with Singapore’s long-term strategy to attract and retain globally minded talent. “Our goal is to immerse individuals in diverse environments where they can enhance their adaptability, cultural intelligence, and leadership capabilities,” she said.

Stakeholder support

With strong backing from the business community, the programme is expected to boost Singapore’s international standing. “Singapore has made its mark as a global hub,” Dr Tan stated. “For our economy to remain vibrant, our workforce must be prepared to engage with the world.”

The Overseas Markets Immersion Programme builds on other government schemes designed to support companies’ internationalisation. It represents a strategic investment in Singapore’s future as a knowledge-based, globally connected economy.

“This initiative is more than funding—it’s about creating pathways for talent to succeed on the world stage while ensuring that Singapore remains a magnet for top-tier professionals,” Dr Tan concluded.