SINGAPORE: International companies in Singapore said the Government’s move to raise the minimum salary requirement for foreign workers will not affect their plans here, as many firms already make an effort to hire locals.
READ: Minimum qualifying salary to rise by S$600 for Employment Passes and S$100 for S Passes, higher requirement for financial services The medical technology giant has been in Singapore for more than 30 years. Thermo Fisher said it has 1,600 employees here and plans to expand its workforce by another 400 “very soon”.TALENT TRANSFER TAKES TIME
"These types of roles typically require the employee being relocated to Singapore to possess skills and experience which means that the salaries they will earn will generally be in excess of the minimum wage requirements.” She pointed to a manpower report that will be published by the chamber this month, which found that among half of the 127 companies surveyed, Singapore residents filled up only half or fewer of their senior level positions, that is, manager and above.
Thermo Fisher said it has been part of Workforce Singapore’s professional conversion programmes and SkillsFuture’s work-study programme - formerly known as the earn and learn programme - since 2017.Industry players and observers all said the tightening of foreign workforce requirements will not affect Singapore’s standing as an international hub, as it remains a place that is business-friendly.
They cautioned, however, that Singapore should not take its reputation for granted, and that any perception that the country is turning inwards will cause it to lose its competitive edge. “Remember, all talent has choices. Why come here if they are not welcome? Singaporeans and their leaders took 50 years to build an exceptional brand,” he said, listing Singapore’s positive attributes like political stability and accessibility to Asian markets.