S’pore labour group’s new initiative to benefit SME employees
The National Trades Union Congress, Singapore’s labour movement, has launched the NTUC Club Corporate Membership Scheme, an initiative that will give SME employees access to a range of welfare benefits.
Except for workplace protection, SME employees will now be granted the same set of welfare benefits afforded to union members.
The initiative is open only to SMEs with memorandums of understanding (MOUs) with the National Trades Union Congress’ U SME initiative. There are over 180,000 SMEs in Singapore.
Under the scheme, SMEs need to pay S$10 monthly for each worker, who will have access to benefits from both NTUC Club and U SME. The NTUC Club benefits include access to club facilities and venues, discounts at select merchants, and group insurance coverage of up to S$30,000.
NTUC Assistant Director-General (ADG) Yeo Guat Kwang said that by extending such benefits, SME bosses will be able to better retain their workers.
Meanwhile, at NTUC U SME — a labour movement scheme that seeks to combat obstacles facing SMEs- companies and employees can partake in training and development initiatives, and networking events, among other benefits.
According to Yeo Guat Kwang, NTUC’s assistant director-general, a total of around 13,000 SMEs have inked MOUs with NTUC U SME, and they comprise of an estimated 300,000-strong workforce.
Benefits at a glance
Benefits provided by NTUC Club:
- Group Insurance coverage of up to $30,000
- Discounts and promotions at over 1,000 participating merchant outlets
- Discounts and assistance on courses and training programmes\
- Recreation options such as club facilities
Benefits provided by NTUC U SME:
For both employers and employees
- Participate in engagement and networking events
- Participate in training and development programmes
- Greater awareness on productivity-related grants