LOCAL bunker trader Sing Fuels aims to grow at least 300 per cent within the next three years, but faces a major challenge – talent development. The company hopes to improve its talent management policies as a participant of the newly-launched Singapore Global Executive Programme (SGEP), said chief executive officer Vikash Dhanuka.

Announced at Budget 2022 and launched on Friday (Dec 16) by Minister for Manpower and Second Minister for Trade and Industry Tan See Leng, the programme aims to strengthen the talent development capabilities of local companies with a global presence.

Up to 20 participants will be brought onboard in the next three years. The first two batches of three companies each have already been chosen, with more to join in the second half of 2023.

“In today’s jobseeker’s market, it is tough to find the right talent at the right place and at the right time, and even harder to continue to retain existing good employees within the system,” Dr Tan said. “And it is especially tough for local companies and SMEs (small and medium enterprises), as jobseekers may be less familiar with the opportunities available in these companies.”

SGEP participant Castlery, a local design and home lifestyle brand, faces that exact issue. “As a young consumer company, we are competing now against global brands for staff,” co-founder Declan Ee said.

“Without this partnership, potential employees and talent may not feel that they will get the right opportunities or they may not even be aware that we are a global company,” he added.

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The SGEP will thus provide resources and expertise to help high-growth local companies enhance their human capital capabilities and attractiveness as employers, said Dr Tan.

Companies will receive training and consultancy support, said Enterprise Singapore in a media release. They will work with industry partners, such as LinkedIn and Procter & Gamble, to improve their capabilities so that they can draw up a talent development roadmap for their growth.

Local talent who join SGEP companies can expect to build industry expertise through job rotations across core business functions, global attachments, and mentorship by company leaders.

Dr Tan encouraged locals “to seriously consider overseas exposure in the form of overseas work opportunities”, adding: “Global readiness is key to our workforce competitiveness and young talent can look to local companies for such opportunities.”