British Future’s Post

Singapore's new employment rules could harm foreign companies: For a nation that trumpets an open and free economy, Singapore's new employment rules for foreigners could have unintended consequences, Bloomberg reports. From September, overseas employees on a work visa will need to meet the city-state's new points-based system and earn a minimum salary threshold to stay in their jobs. While the move aims to promote fair hiring practices, it risks turning foreign companies away and tarnishing Singapore's image as a global business hub. The government's focus on employment prospects for homegrown talent will win votes in the short term, and it does indeed seem to be working, with employment growth for residents higher than in previous quarters. Nevertheless, the government must strike a balance between keeping the economy open and helping the local workforce achieve their career aspirations, Bloomberg says.

Talent is going to waste here in the UK. Over 150,000 Hong Kongers have moved to Britain since 2021. Many are highly skilled and qualified, so why are they not snapped up by employers? An excellent report published by the Welcoming Committee for Hong Kongers and British Future explains reasons why so many of these highly skilled job seekers are unemployed or underemployed. Here at English Unlocked we've noticed the same obstacles mentioned in the report. We've been training Hong Kongers to adapt their job-seeking behaviours to the UK because (in the words of someone quoted in the report)- “We come from a completely different culture and the job-hunting process is entirely different.” (Man, 35-44, South East) We hope this training will be funded again, so that we can help Hong Kongers directly. Other ways we can help is by- ✅educating employers ✅educating employability advisors 👉🏻We help employers refresh their recruitment practices so they can avoid missing out on international talent. 👉🏻If you work in employability, ask about our one-hour workshop called 'How to help Hong Kongers adapt to UK job-seeking behaviours. If you would like to know more please get in touch. #employability #diversityrecruitment

It's a fine balance but our next PM is right: "Citizens will not become the minority in Singapore: DPM Lawrence Wong". This means a focus on levelling off work passes, as has happened in the last quarter with less work passes overall being issued and an increase in automation along with careful issuing of citizeships along our ethnic quotas of 76% Chinese, 14% Malay, 9% India and 1% the rest. Given that we have one of the lowest birth rates in the world at less than 1% we have to manage the balance between we citizens and foreigners who we need to help service the country and enable it to grow. That conundrum is PM Wong's biggest challenge. Too many foreigners is not popular with voters. Too few and the country won't grow. This is why he gets paid the million dollar salary to work that out! What do you think? If you don’t have the time to do this yourself you can outsource all of your personal branding and LinkedIn marketing needs to my highly recommended team at Black Marketing and we can do it all for you, details here: https://lnkd.in/dqWRi6EZ https://lnkd.in/geDPSMCU

DecodeHR’s APAC Employment Updates Bringing you updates on employment law developments and insights from around the Asia-Pacific region. 💡Taiwan: Taiwan to offer high-earning foreigners permanent residence Taiwan plans to introduce a "global elite" card offering high-earning foreign professionals permanent residency after one year, along with benefits for their families, to attract talent and counter a potential brain drain. Read more: https://buff.ly/3ByaSAQ 💡Malaysia: Malaysia’s job market shows 14% year-on-year growth in August 2024 In August 2024, hiring activity in Malaysia increased significantly, with strong growth in sectors such as retail (83%) and engineering (55%). Despite challenges in the BFSI sector, the overall job market remains resilient, reflecting ongoing economic recovery across various industries. Read more: https://buff.ly/4evGxBf 💡Singapore: Job market worsens for retrenched workers, but Singapore’s overall labour market remains robust in Q2 Singapore’s labour market remained strong in Q2 2024, with employment rising and unemployment rates improving, though re-employment for retrenched workers slowed. MOM expects continued wage and employment growth. Read more: https://buff.ly/4eINq1K For advice on labour and employment practices in the Asia-Pacific region, get in touch with us here: https://buff.ly/3zFfo9P #DecodeHR #DecodeHRLabourNews #employmentlaws #labourlaws

🔍 Digging deep into the latest stats, it's clear that the trend of foreign PMETs holding significant roles in our workforce hasn't budged over the past decade. But what does this mean for our local talent pool? 🤔 Are we witnessing a fair and inclusive workplace, or is this a silent struggle for Singaporeans to secure high-skilled jobs? 💼🇸🇬 Dr. Tan's insights shed light on the complexities, but are we doing enough to protect the interests of our citizens? 🛡️ Are policies like the Fair Consideration Framework truly effective, or are they just band-aids on a deeper wound? 💔 #Singapore #Workforce #ForeignTalent #FairConsideration #Employment #Diversity #Inclusion #LocalTalent #PolicyChange #FutureOfWork

Interesting article on the new EP policies.

As we witness significant shifts in immigration policy under Donald Trump's administration, the recruitment landscape is evolving rapidly in both the U.S. and Singapore. In the U.S., Trump's recent executive orders signal a crackdown on undocumented immigrants, with deportation raids expected to impact workplaces nationwide. This could lead to increased scrutiny for employers regarding hiring practices and compliance with immigration laws, ultimately reshaping workforce demographics and recruitment strategies. Simultaneously, Singapore is tightening its immigration policies with new Employment Pass (EP) criteria, raising salary thresholds and prioritizing local talent. This shift aims to ensure that Singaporeans are at the forefront of job opportunities while also fostering a diverse workforce12. Key Insights: Higher Salary Thresholds: From January 2025, the minimum salary for EP applicants will rise to 5,600 SGD, ensuring that local talent remains a priority in a competitive job market14. Focus on Local Talent: Companies are encouraged to nurture and develop local professionals, especially for junior and mid-level roles, fostering a more inclusive workforce12. Diversity in Hiring: This is an opportunity for organizations to enhance their diversity strategies while complying with new regulations. Let’s embrace these changes to build a stronger, more resilient workforce in Singapore! 💪🌍 #SingaporeJobs #Recruitment #Diversity #EmploymentPass

FSC's chief economist Youssef Zad was recently quoted in Yle article regarding working situation for immigrants in Finland. Many are facing uphill battle to find gainful employment. Yle reported that Youssef Zad has expressed concerns that a Finnish government proposal could introduce uncertainty for the futures of immigrant workers in Finland. The proposal also dictates that companies laying off workers will now be obliged to report this information to Finland's immigration authority Migri. You can read the full article here 👉 https://lnkd.in/d5s5cSRh #startupyhteisö #startupcommunity #immigrationpolicy #workbasedimmigration

Just launched: Korea’s Integration of Employment Impact Assessments in Policies and Budgeting As part of its growing expertise in Employment Impact Assessments (EmpIA), the #STRENGTHEN2 project has published a comprehensive report on the Republic of Korea’s pioneering efforts to integrate EmpIA into employment policies and budgeting. This report offers insights into Korea's "Jobs Budget", ensuring central employment targets, and the role of its Employment Impact Evaluation Center (EIAC), showing how #employment-focused budgeting can drive job creation and #inclusive growth. Korea's approach serves as a global model, providing practical guidance for other countries looking to institutionalize EmpIA and align policies with employment goals. Read the full report and learn more about STRENGTHEN2: https://bit.ly/4hSvq7E #employmentpolicies #employment #inclusivegrowth #budgeting #decentwork #futureofwork International Labour Organization, European Union, Korea Labor Institute, Mito Tsukamoto, Ralf Krueger, Maikel Lieuw-Kie-Song, Samuel Asfaha, Peter Stalker, ILO Regional Office for Asia and the Pacific, KOICA, Korea Employment Information Service

Hong Kong has a talent issue. Is it talent shortage? NO It is a failure-to-recognize-talent issue. Case and point: an individual with top schools credentials, over 20 years of experience, with diversified investment products knowledge as well as thorough understanding of the entire process of client servicing, from onboarding to AML and compliance, and an active social lifestyle with private club memberships and a multitude of interests and volunteer work. You would think that such profile should attract a lot of interest with private wealth/private banks, for various posts as this individual has front/middle/back office experience? Not even close. Not even an interview. This is probably beyond just an HR issue, because all the boxes are ticked. If you ask me, I’d say it is an issue of wanting 100% fits. Hong Kong employers want the perfect fit yesterday. No names but just 4 letters. Another recruitment wants 10 years of ESG investing experience in Hong Kong. I’d imagine I won’t need to elaborate further on why this doesn’t work… #hongkong #hongkongbusiness #privatebank #privatebankinghongkong #privatewealthmanagement #privatewealthmanagementhongkong #talent #hongkongtalent #investmentcounsellor #HR #hrbp #hrhongkong