Singapore chooses candidates based on the compass system, followed by countries like the UK and Canada. Criteria for evaluation will be- Education, Skills and pay. These new work visa rules aim to lure talented visa applicants for hiring them in next-generation industries like computing, aeronautics and even Arts.
Highlights
- “For a country like Singapore, having less or no resources at all, talent is the only resource”, said Minister for Manpower Tan See Leng. However, also added that talent acquisition is an offensive strategy for them.
- Alterations in the policies came in order to pull in international labour. Also, to reduce some competition in labour market, which had ultimately led to a hike in wages and costs.
- The country aims to attract foreign investment to fulfill the state’s status as a ‘global financial powerhouse’.
- The objective is also to gain back all the ‘white collar foreign workers’ lost during the endemic era by luring them.
As the post-Covid era commenced in Singapore, officials have become busy in updating the new rules for hiring foreign workers in the country. The new rules were made, tearing down all the coronavirus restrictions which will also ultimately lead to a fierce competitive battle for global talents.
Earlier, five year visa rules and sex between men made headlines and now Singapore has come with new work visa rules. With new rules, city-state’s leaders aim to lure the talents in the next generation industries like computing, aeronautics and even the Arts.
“Singapore is still a global city,” Prime Minister Lee Hsien Loong said in an address last month. Also added, “We cannot survive in any other way.”
How Singapore sees the battle for foreign workers and what are the steps taken by it to tackle
COMPASS SYSTEM: Education, Skills, Pay
From next year onwards, Singapore will institute a point-based system for all visa applicants. The criteria for evaluation will be – education, skills and pay. Also, how the nationality of the candidate will bestow to the diversity of the workplace.
This compass system is taken from the systems of the UK and Canada.
In this program, applicants have to earn at least 40 points across six categories. Candidates may earn 0, 10, or 20 points in each category. For ex- If a candidate has a Harvard Degree.. 20 points for you.
Visa Duration
A five-year work visa will be extended to the Overseas Networks Expertise (ONE) pass – eligibility earning at least S$30,000 ($21,300) per month. This would be quite an ascend from the two-year pass that many other foreign workers have.
The new work visa rules will also permit workers dependants to seek employment and open doors for candidates excelling in arts, sports, academic or science.
The Competition
Speaking about the competition for workers across the world, it is said that the competition is not limited to Hong Kong. Recently, in his national Day speech, Lee mentioned other countries like Germany and UK that have relaxed their visa rules for candidates.
Lee singled out Germany and asserted how Germany was permitting applicants even before they are actually securing a job. Also adding the UK which has presumed what can be called a special visa for graduates from the top universities in the world- out of which two are also in Singapore.
“This is an age where talent makes all the difference to a nation’s success,” Prime Minister Lee Hsien Loong earlier said. “We need to focus on attracting and retaining top talent, in the same way we focus on attracting and retaining investments,” he adds.
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