Productivity Solutions Grant
Job Redesign (PSG-JR)
Support for Job Redesign (JR) under Productivity Solutions Grant (PSG-JR) encourages accounting firms to redesign work processes, tasks and responsibilities. Through JR and leveraging on relevant technology, this will help firms automate processes for improved efficiency and accuracy, and enhance the firms’ ability to focus on higher value-adding tasks requiring judgment, deep technical knowledge and business acumen. JR not only supports business transformation, but also helps make jobs more productive and attractive for employees, and train employees with skills in demand, thereby helping companies hire and retain talent.
WHO CAN APPLY?
- All participating enterprises must fulfil the following criteria:
- Registered or incorporated and operating in Singapore; and
- Must have at least three local employees1 at the point of application;
- In addition to the criteria above, at the point of application, the applicant must not have:
- Made any payment to a pre-approved JR consultant or third party in relation to the engagement of JR-related consultancy service,
- Signed or confirmed any contract or purchase order with a pre-approved JR consultant or third party in relation to the engagement of JR-related consultancy service
- All applications will be evaluated on a case-by-case basis.
1 Local employees can be Singapore Citizens and Singapore Permanent Residents. For enterprises related to the same parent enterprise, these affiliates will have to prove that their employees are not double counted in the enterprises applying for PSG-JR.
- Enterprises will receive funding support through PSG-JR for JR related consultancy costs incurred in their projects, at up to 70% of JR consultancy cost, capped at $30,000 per enterprise.
- Participating enterprises have up to one year from date of Letter of Offer to complete their JR project.
- On top of the above funding support for PSG-JR, eligible enterprises can also tap on the SkillsFuture Enterprise Credit (SFEC) to defray out-of-pocket (OOP) expenses for supportable programmes and components. Eligible enterprises will receive a one-off $10,000 credit per firm to cover up to 90% of OOP expenses. More details can be found here.
HOW IT WORKS
- Under the programme, the pre-approved JR consultant will support the enterprises on JR taking reference from the broader sectoral transformation detailed in the Accountancy Industry Transformation Map and the Jobs Transformation Maps for In-House Finance & Accounting functions and Accounting Practices, and deliver the following programme outcomes where applicable, i.e.:
- Review accounting work processes to streamline administrative or transactional tasks and improve productivity;
- Increase job value and attractiveness through job enrichment or enlargement; and/or
- Implement accounting technology solution(s).
- There are four phases. Upon receiving project approval (Phase A), enterprises will complete Phases B and C with support from JR consultants for various JR services, which may include technology implementation if relevant to the project. At Phase D, enterprises will submit a project report that is required for funding claims.
- Details of Components in Phase B and C:
- Consultancy for Business Progress Redesign (BPR) and technology solutions (if relevant)- Review and redesign work processes to improve efficiency and productivity. Curate and recommend technology solutions to be embedded, if relevant to project.
- Implement BPR and technology adoption - Implement BPR plan and implement technology solution(s) procured by enterprise, if relevant.
- Consultancy for JR - Following BPR and technology adoption (if relevant), recommend how accounting and finance job roles can be enriched or enlarged to enable business objectives.
- Consultancy for HR Interventions - Recommend how HR practices can be aligned to support the redesigned job roles.
The full list of pre-approved PSG-JR Consultants can be found here.