NEW!! Jobs Growth Incentive
07/09/2020
NEW!! Jobs Growth Incentive:
Businesses that hire local workers over the next six months will receive a subsidy of up to 25 per cent of their salaries for one year, subject to a cap.
This applies to growth firms that meet the qualifying criteria:
- The company must maintain its local workforce size of more than 10 if it wants to enjoy the incentive for the full 12 months
- The total payout to a company will be reduced proportionally every time there is a “churn of the original team” (meaning if new hire is for replacement position and not growth position).
For example, if one of the original 10 employees leaves the company and is replaced by a new local hire, the incentive support rate is reduced.
The co-payment goes up to 50 per cent for workers aged 40 and above.
Want to know how to leverage on the new incentive? Feel free to approach us +65 66363691, +65 9326 2271 or info@lnmsolutions.com!