Covid-19 has wreaked havoc on Singapore’s economy, particularly in the area of job security. As companies incur steep losses, they’ve had to downsize, letting go of staff or cutting their income.
Though the initial stages of the crisis were plagued with seemingly insurmountable challenges, a silver lining of sorts has emerged.
Singapore has now transitioned into an employment landscape where diverse industries are offering job opportunities to those displaced from other sectors.
One of those is AIA Singapore, which has just announced that it will create up to 500 jobs in financial services for Singaporeans.
In a media release on Monday (21 Sep) by AIA Singapore, the insurance provider stated there will be 500 career opportunities for fresh graduates and mid-career job seekers.
The Financial Career Scheme 2020 aims to to combat the rise of unemployment caused by Covid-19 by creating and sustaining job opportunities for Singaporeans, the media release stated.
AIA chief executive Wong Sze Keed said it’s vital that the company supports Singaporeans and permanent residents by creating jobs for the long term that are sustainable.
This is especially during a time when so many Singapore have been affected by retrenchment or are struggling to find jobs.
Thus, she added that the scheme will help individuals gain the skills and knowledge to pursue a new career path and contribute to Singapore’s economic future.
Applicants who meet the requirements will be enrolled in groups between 15 Sep and 31 Mar 2021.
Suitable candidates will undergo an initial 10-month training programme that will earn them 3 certifications in finance and investment:
After this preliminary programme, further training courses will be offered for 2 years based on candidates’ preferences and development needs, said AIA.
The aim of the training is so that candidates will receive sound financial and investment knowledge that will enhance their employability prospects.
What’s more, while candidates get trained, the company will help sustain them and their families by providing financial support.
Support of between $2,000 and $5,000 per month will be provided, based on the 6 financial allowance schemes candidates may qualify for.
Should they complete certain training modules, they will also be given a bonus.
Candidates will also get a mentor to guide them through the programme, aiming for successful completion.
This arrangement will also help open doors for mentees to have a career as a consultant with AIA.
Those interested to apply for the scheme, do contact AIA here.
It’s heartening that AIA isn’t the only company to step forward to take on displaced workers.
MS News previously reported that employers like the Restaurant Association of Singapore, Jumbo Seafood Group, Etonhouse International Education Group and Commonwealth Capital investment firm will offer over 2,000 jobs to displaced SIA staff.
Financial institutions such as Citi and DBS have also pledged to create 6,000 jobs in the Asia-Pacific region and 2,000 jobs in Singapore respectively.
Most recently, the Ministry of Manpower said on Monday (21 Sep) that more than 800 companies in the food sector have offered about 6,700 opportunities in the form of jobs and traineeships since April, reported Channel NewsAsia.
As the news of retrenched and jobless workers reverberates through the country, it’s understandable that Singaporeans will feel discouraged.
However, as we reach the last few months of 2020, signs may be showing that slowly but surely, there could be a better employment outlook over the horizon.
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