Could Singapore’s new laws for foreign talent mark the beginning of a new era of talent acquisition in the global economic powerhouse?
Newly increased salary thresholds for foreign workers are likely to increase demand for local talent, changing the dynamics of talent acquisition for many of the global businesses with a presence in the city-state.
Sid Suhas, Senior Vice President – EMEA & APAC Sales, spoke to Al Jazeera to share his insights into the changes and what they could mean for employers in the region.
From the article:
“Suhas said the visa changes are likely to prompt large employers to ‘focus more on attracting, developing and nurturing the local talent pool, particularly for junior professional and mid-level lower-skilled roles.’
With the higher salary threshold, companies are likely to adopt “a skills-first approach” when employing foreigners, Suhas said, focusing on talent in areas such as AI, technology, engineering and healthcare.
‘The trend of limiting foreign talent deployment to specific skills and industries is inevitable. In the past, foreign talent had the opportunity to develop their careers in Singapore across various roles but now, the focus will likely be on senior and niche positions,’ Suhas told Al Jazeera.
Suhas said he has already seen companies exploring alternative locations in the Association of Southeast Asian Nations (ASEAN) such as Thailand, Malaysia and Indonesia, as a means of relocating key talent while still maintaining proximity to Singapore.”
For the full article, visit Al Jazeera.
