Government incentives to hire Singaporeans will add another advantage to tapping into what is already one of the most attractive contingent labor pools in Asia, especially with regards to higher skilled positions.
Singapore’s move to reduce its dependence on migrant workers and increase employment opportunities for its citizens should prove beneficial to employers looking to tap into the country’s highly productive source of contingent labor across multiple industries.
While companies with operations in Singapore should take extra precautions to ensure that they are taking steps to treat Singaporeans fairly in their hiring practices, they will continue to gain benefits from Singapore’s highly productive workforce, helped by Singapore’s longer work week and fewer annual leave days.
Singapore is also well-positioned as a well-connected and trusted regional hub among Asian countries benefiting from Southeast Asia’s rapid growth. In addition to Singapore’s leading position providing contingent labor across multiple industries, it offers an impressive eco-system supporting research and development, a developed infrastructure, strong manpower capabilities and ease of doing business.