SINGAPORE: Insurance provider AIA Singapore has pledged to create up to 500 job opportunities for fresh graduates and mid-career job seekers to help cushion the blow of rising unemployment amid COVID-19.
Successful candidates will undergo an initial 10-month training programme, leading to three certifications in finance and investment.
Financial support of between S$2,000 and S$5,000 per month will be provided during the programme, with a bonus awarded upon completion of certain training modules.
“At a time when so many are impacted by retrenchment or are struggling to find jobs, it is vital that we support Singaporeans and permanent residents by creating sustainable and long-term career opportunities,” said Ms Wong Sze Keed, CEO of AIA Singapore in a media release on Monday (Sep 21).
“The AIA Financial Career Scheme 2020 equips individuals with the skills and necessary financial knowledge to pursue a new career path in the financial services industry,” she added.
The scheme is a collaboration between AIA Singapore and AIA Investment Management.
READ: Retrenchments in Singapore spike in first half of the year, surpassing SARS peak: MOM
AIA’s hiring initiative comes rising retrenchment and unemployment in Singapore, as the COVID-19 pandemic continues to batter the economy.
In Singapore, retrenchments have spiked along with the unemployment rate. In June, 89,700 residents were unemployed, compared with 76,200 in March. Retrenchments rose sharply to 11,350 in the first half of the year, surpassing the 10,120 recorded during the SARS period.
Amid the labour situation, the public sector as well as several corporates including Citi, DBS, EtonHouse, Jumbo Group and Commonwealth Capital have pledged job commitments.
“By sharing our expertise and industry knowledge, candidates will embark on fulfilling and successful careers, contributing to Singapore’s economic future well beyond COVID-19,” said Ms Wong.
READ: Commentary: More bold measures needed to protect against the job losses heading Singapore’s way
Those who meet the requirements will be enrolled progressively between Sep 15 this year and Mar 31 next year.
After the initial 10-month programme, further training courses will be offered over a two-year period based on individual candidate preferences and development needs, said AIA Singapore.
A mentor will be assigned to all successful candidates.
The mentor “will partner and guide them toward successful completion of the programme and potentially a rewarding career with AIA Singapore or AIA Financial Advisers as an AIA Premier Consultant”, said the insurer.
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