In Singapore, it’s employment pass renewal season, and Friday after-work cocktails are all the talk about the new administration.
Beginning in September, foreign workers with work permits will have to meet the requirements of the city-state’s new points-based system and make a minimum income threshold in order to maintain their employment. Although this is similar to what occurs in other nations, it runs the danger of alienating foreign businesses and harming the country’s reputation as a center of international commerce.
The program’s announcement in 2022 was an attempt to encourage equitable hiring procedures. Points are given for factors such as a candidate’s education and skill level, how much they make compared to their local counterparts, and whether or not their nationality broadens the firm’s diversity.
Highlights: Just 40 points are needed to qualify for the new Singapore skilled worker visa.
- The new Singaporean skilled worker visa is available to graduates of eight Indian universities via a points-based application process.
- September 1, 2024, is when the new Singapore Skilled Worker Visa regime will go into effect.
- Applications for renewal must receive at least 40 points using the Complementarity Assessment Framework (COMPASS).
- According to reports, Singapore offers a number of career prospects for digital expertise.
Singapore’s New Framework for Skilled Worker Visa
Candidates for skilled worker visas would be selected using a points-based system, according to the announcement made by the Singapore IT industry. The point-based system is only applicable to eight Indian universities, and all nationalities would be equally weighted.
The new framework will be put into effect in Singapore on September 1st, 2024. In order to obtain a Singapore Employment Pass, renewal candidates must achieve the wage requirements and receive at least 40 points under the new Complementarity Assessment Framework (COMPASS).
When it comes to choosing applicants for the visa, Singapore prioritizes IIITs. Under the COMPASS qualifications pillar, graduates of IIT Delhi and IIT Bombay can receive 20 points, while graduates of the other IITS and IISCs can receive 10 points.
This is corroborated by data from AmCham’s 2023 Manpower survey. Although the new framework offers transparency, predictability, and assurance, employers are less confident and more apprehensive about whether they will be able to get the talent they need.
The government must strike a delicate balance between promoting economic growth and assisting the local labor force in realizing their professional goals. In an email, the Ministry of Manpower mentioned the many work permits available for foreign employees, such as the Overseas Networks & Expertise Pass, which is designed for “top talent.”
It also mentions that foreign investment and the number of foreign companies seeking to establish regional headquarters have both increased, as has the number of foreigners who have been given permission to work.
IT highlights the new skilled visa program in Singapore.
According to Shivendra Singh, vice president of global trade development at Nasscom, vital skills must be brought in on non-immigrant visas, such as the EP, because Singapore is well known for having a dearth of digital expertise.
“Our government has been extremely supportive of our issues when the tech industry faces global challenges,” Singh stated. We have been bringing up the Singapore problem with them, and we humbly ask the Singaporean government to take it into consideration, as the resolution will strengthen our industry’s presence there and forge a mutually beneficial cooperation that will add value to Singapore’s tale of economic success.
One of the world’s leading centers for digital talent is India. In comparison to the rest of the world, India has a sizable pool of workers with digital skills because of our focus on STEM education. Therefore, giving each nationality the same weight in the diversity assessment may not accurately reflect the demand-supply dynamics that exist in the real world, according to Singh.
Additionally, Nasscom wants more information about what counts toward points under the pillar of strategic economic priorities.
The website of Singapore’s Ministry of Manpower states that this category aims to recognize organizations that are either endorsed as “strong partners on company and workforce transformation activities” by the National Trades Union Congress of Singapore or that are engaged in “ambitious investment, innovation, and internationalization activities in partnership with economic agencies.”
