Analysis of Skills Future to the Youths

Question: Discuss about the Analysis of Skills Future to the Youths. Answer: Introduction The SkillsFuture is a Singaporean program that is aimed at creating opportunities for the Singaporeans for their development and growth of the country. The initiative was developed by the Ministry of Finance in 2015 during the reading of the annual budget. The main key issues addressed by the movement were based on acquisition of education, career development and job opportunities for the younger generation and the whole population. In this note, this paper will discuss matters of the impact of SkillsFuture on the Singaporean youths in regard to education, social welfare and economic statues. In light of the study evidence of the SkillFuture will be analyzed giving weight on the social and economic status of the country and evidence against the program. Thesis Statement In response to the contemporary issues involving growth of economy, social issues and technology, the government initiated the SkillsFuture movement to look at the issues relating to invention of new job opportunities, doing away with old occupations. This objective was to be accomplished by establishing small programs under the initiative to address matters concerning acquisition of education, career development and employment. Consequentially the movement has had an impact on the youths as they are the people who were majorly focused on during its creation. The stance for this paper is that, the SkillsFuture is important for the growth and development of the youths economic status and of the government. The countrys development is associated to the quality and quantity of the human capital and resources available. The SkillsFuture through the Credit initiative the financial needs for acquiring education and other trainings have been met. According to the report made by the Minister of Finance and Chairman of SkillsFuture Council, Mr. Mr Tharman Shanmugaratnam, the program will be used to create new opportunities for the citizens by providing financial help and guidance. School going children will get assistance in training and guidance through learning programs and counseling. For example, the government looks forward in establishing a key professional in education and counseling career. The initiative will equip counselors the industrial experience and knowledge to be useful in proving informed guidance to the trainees. One of the evidence for this movement is the support given to the Singapore Workforce Development Agency (WDA) to help in growth of the counselors. The trainees wil l benefit from the program in getting internships mostly in the Institutes of Higher Learning to give them guidance in their career pathways. There will be continuous development of the skills and potentials in the career and other new courses for individuals through the SkillsFuture Study Awards and SkillsFuture Fellowships. This will help in creating new opportunities and helping the citizens to gain more skills that will assist them to venture into other areas of the economy. The use of the benefits from the programs in the SkillsFuture into the practice and economy. The SkillsFuture Credit of $500 was created to help the citizens to acquire training in different courses or further their careers. The funding was to be released in 2016 to serve the needs of the individuals who were to improve and develop their skills and talents. This was to be done at regular intervals and would only be used for educational purpose. The program also advocated for creation of online platform by 2017. The online platform was established under the Learning Portfolio 2017 and it had the following features that assisted the individuals have a plan for their education; one-stop education, training and career guidance resource. The SkillsFuture Earn and Learn Program and the Support for Mid-Career Singaporeans was also to further the progressive plan of education. The government for example provided subsidies for the Singaporeans aged 40 and above that constituted 90% of the total costs for courses financed by MOE and WDA. The government further in creating a sustainable environment for businesses and development of the economy under the SKillsFuture established the New Industry Collaboration. The initiative was intended to improve the relationship among the key stakeholders for the Singaporean economy. For example, the government geared collaboration between the training organizations, trade unions and associations, and employers in development of skills and talents of the citizens. According to the Chairman of the SkillsFuture the plan on industrial collaboration was to ensure that the plans under the program have developed and implemented by 2020 thorugh involving the Sectoral Manpower Plan (SMPs). Contrary, the initiative has not established the main problem involved in development of the youths economy such as unemployment and the national economy. The program has overlooked the challenges that it might cause on the citizens such as increase of tax rates therefore burdening them in paying taxes and other levies. Further, it has not created good relationship between the private sector and the public. Much weight has been given on development of skills through the main educational initiatives that have been established. It will improve the potentials of the citizens but it has not created job opportunities for the beneficiaries. In conclusion, the SkillsFuture program is an effective means of looking into the future of the country and the citizens. It has created opportunities for every person and majorly the youths are to benefit from it and be able to develop and improve their economic, social and educational status. References Report from the Minister of Finance and Chairman of SkillsFuture during Budget. 2015, p. 9. ANG,J.C. Leaders that Make or Break Your Career. Singapore Teachers. 2016, p. 29 SkillsFuture. The objectives of the movement. , 2015, p.7. Abdul Rahim,A. SkillsFuture and the Malay/Muslim Community Opportunities for the Future.Majulah! 2016, p. 21 Clutterbuck,D. Mentoring Programs and Coaching Initiatives. Wiley Encyclopedia of Management. 2015, p. 14. Raj,P., Iyengar,J. URA Card Game: Career Awareness Among Children To Understand Career Options in A Fun Way And Make Informed Career Choices. Edulearn16 . 2014, P. 19. Clutterbuck,D. Mentoring Programs and Coaching Initiatives. Wiley Encyclopedia of Management. 2015, p. 14. Raj,P., Iyengar,J. URA Card Game: Career Awareness Among Children To Understand Career Options in A Fun Way And Make Informed Career Choices. Edulearn16 . 2014, P. 19.