Skills improvement has been an aspect a number of countries focusing on. Therefore, in the last few years, they have developed innovative funding mechanisms to finance workers recovery. According to World Economic Forum, Singapore has recently complemented its pioneering Skills Future Initiative through the deployment of the Enhanced Training Support Package (ETSP). As an attempt to support workers and organizations in maintaining investment in re-skills and upskill program during COVID-19. In addition, the package includes a significant increase in funding for Absent Payroll Support and Course Fee Support. This funding is among industries which hit hard by the pandemic.
At the end of 2019, France created individual skill accounts with an integrated mobile application. This app will be useful for vocational training and life-long learning. Under “moncompteformation. Gouv.fr” (“MySkillsAccount”), 28 million eligible full and part-time workers will receive € 500 each year directly into their skills account. That amount of money is for skills improvement and continuing learning. Low-skilled workers and those with special needs receive up to € 800 annually, totaling € 5,000 and € 8,000, respectively.
The Danish Ministry of Manpower has introduced a number of measures aimed at providing additional opportunities for skills improvement and education. The move focuses on jobs destined for workers who are on leave as a consequence of the economic impact of the pandemic. First, both skilled and unskilled workers pursuing vocational education are provided with 110% of their usual unemployment benefits. In addition, the Danish government is expanding the scope of its current apprenticeship scheme, at the same time extending its job rotation scheme. Thus, enabling more unskilled workers to have access to skills upgrading and re-skills opportunities.