MR No.: 046/18
Singapore, Wednesday, 14 November 2018
1. The new Skills Framework for Wholesale Trade, launched by Dr Koh Poh Koon, Senior Minister of State for Trade and Industry today, offers employers and employees in this sector with a comprehensive guide to plan their career paths, identify suitable training programmes and develop new skills required for the jobs. It is jointly developed by Enterprise Singapore, SkillsFuture Singapore (SSG) and Workforce Singapore (WSG), in consultation with employers, industry associations, training providers and unions. The framework is one of the strategies under the Wholesale Trade Industry Transformation Map that was rolled out by Enterprise Singapore in 2017 to help more trading companies adopt digital technology and internationalise.
2. The Wholesale Trade sector is a major contributor to Singapore’s economy, comprising over 34,000 establishments and contributing to more than 320,000 (or 9% of all) jobs in 20172. With more than 80% of its sales derived from overseas markets3, the sector is highly influenced by the evolving global business environment. Hence, trading companies and their employees have to remain open and flexible to changes and develop the skills required to compete effectively in such an environment.
Disruptive Technologies Bring About Emerging Skillsets
3. Disruptive technologies such as blockchain, big data analytics and artificial intelligence are rapidly changing the way trade is being conducted, while global B2B e-Commerce transactions are increasing with the rise of digital marketplaces4. Other trends impacting the sector include the growing emphasis on sustainable trade processes and practices, and changes in international trade standards and requirements. These developments play a key part in changing existing job roles, and the reskilling and upskilling of the workforce as companies transform their businesses.
4. The Skills Framework for Wholesale Trade has identified core career tracks5 for businesses in this sector, covering 42 job roles. These career tracks allow users to better plan their careers by identifying progression pathways within the sector. The framework also outlines 76 technical skills and competencies required in emerging areas such as Research and Data Analytics, Risk Management & Regulatory Compliance and Digital Marketing and e-Commerce. Training providers can refer to the framework to design and offer relevant curriculum to support the skills needs of the sector. (Refer to Annex A for more information on the Skills Framework for Wholesale Trade).
Enterprise Singapore Partners U SME to Support Employers in Developing People
5. To help Wholesale Trade employers adopt the Skills Framework more efficiently, Enterprise Singapore partnered NTUC U SME to co-develop the Wholesale Trade Leaders Circle. The initiative will bring together a community of like-minded business leaders who are advocates of progressive human resource practices, and work together with the Government on manpower training and reskilling efforts for our workers.
6. For a start, 18 companies, including Agrocorp International and Star 360 Holdings, are on board the initiative and will take proactive steps to make use of the Skills Framework to improve their human resource practices and talent development. These include mapping clear career paths for employees and identifying emerging competencies required. Companies will also provide employees with opportunities in training and development based on their strengths and needs. In the next two years, companies within the Wholesale Trade Leaders Circle will aim to send at least 50% of their employees for training and skills upgrading.
7. Companies can also refer to the list of training options indicated in the Skills Framework, such as WSG’s Adapt & Grow programmes6, to address their manpower needs. The Adapt and Grow programmes provide companies with training and wage subsidies to hire and reskill workers.
One of them is the new Professional Conversion Programme (PCP) for Wholesale Trade Professionals announced today. The PCP equips workers with new skills so that they can assume roles in emerging areas such as blockchain technology and data analytics more effectively. Beyond new hires, employers moving into new business areas can also tap on the PCP for Wholesale Trade Professionals to reskill and redeploy their existing workers. (Refer to Annex B for more information on the PCP for Wholesale Trade Professionals)
8. For more information on the Skills Framework for Wholesale Trade, visit skillsfuture.sg/skills-framework/wholesaletrade. For companies who are keen to find out more about the Wholesale Trade Leaders Circle, contact firstname.lastname@example.org.
For more information, contact:
Senior Business Partner, Corporate Communications
DID : 6279 3177
Mobile : 9762 4802
Email : email@example.com
Senior Manager, Corporate and Marketing Communications
Manager, Corporate Marketing and Communications
About Enterprise Singapore
Enterprise Singapore, formerly International Enterprise Singapore and SPRING Singapore, is the government agency championing enterprise development. We work with committed companies to build capabilities, innovate and internationalise.
We also support the growth of Singapore as a hub for global trading and startups. As the national standards and accreditation body, we continue to build trust in Singapore’s products and services through quality and standards.
Visit www.enterprisesg.gov.sg for more information.
About SkillsFuture Singapore
SkillsFuture Singapore (SSG) drives and coordinates the implementation of the national SkillsFuture movement, promotes a culture of lifelong learning and strengthens the ecosystem of quality education and training in Singapore. Through a holistic system of national SkillsFuture initiatives, SSG enables Singaporeans to take charge of their learning journey in their pursuit of skills mastery. SSG also works with key stakeholders to ensure that students and adults have access to high quality and industry-relevant training that meet the demands of different sectors of the economy for an innovative and productive workforce.
For more information, visit www.ssg.gov.sg.
About Workforce Singapore
Workforce Singapore promotes the development, competitiveness, inclusiveness, and employability of all levels of the workforce. Its key mission is to enable Singaporeans to meet their career aspirations, take on quality jobs at different stages of life, and help enterprises be competitive and manpower-lean. Workforce Singapore’s focus is on strengthening the Singaporean core and ensuring that Singaporeans are able to have better jobs and careers. Workforce Singapore, in partnership with key stakeholders, also provides support to business owners and companies to enable them to transform and grow, while building a future-ready workforce.
For more information, visit www.wsg.gov.sg.
1 Sustainable trading refers to a trading system that does not harm the environment or deteriorate social conditions when promoting economic growth, for example, fair trading, organic trading etc.
2 Source: Ministry of Manpower
3 Source: Department of Statistics
4 Digital B2B e-Commerce transactions are expected to reach US$6.7 trillion by 2020. Source: Frost & Sullivan, “The Global B2B E-commerce Market will reach US$6.7 trillion by 2020”, 9 April 2015.
5 Four career tracks include Marketing, Business Development and Analysis, Trading and Sales, Operations, Procurement and Sourcing, Finance and Regulations.
6 For information on the various manpower programmes, visit www.adaptandgrow.sg/wholesaletradecareers.