Tightening Labour Market In Singapore Forcing Local Firms To Hire More Foreigners On S Passes.
More foreigners are coming to Singapore to work on S passes instead of Employment Passes.
Singapore (I-Newswire) October 12, 2012 - Singapore’s tightened foreign labour rules are forcing more local companies to hire foreigners on S Passes instead of Employment Passes (EP). The increased number of foreigners coming to Singapore to work on S Passes is the result of stiffer rules for Employment Passes.
This has caused a spike in the number of S Passes to rise to 14,200 in the first half of 2012 as compared to the about 700 EP holders. Firms are bringing in junior executives on S Passes to ease the demand for manpower. In July last year, the minimum monthly salary for EP holder was raised from $25,00 to $2,800. It went up further to $3,000 in January.
Under Singapore’ new work pass rules, firms hiring EPs do not have quotas and do not pay foreign worker’s levies. As of June 2012, Singapore has 174,000 foreigners on EP and 128,100 on S Passes.
Various industry sectors are hiring more S Pass holders. In the marine engineering sector, S Pass holders fill the mid level supervisory jobs where locals lack the skills and experience. In the food and beverage sector, S Pass holders are needed to help conduct research and development. In the hospitality sector, S Pass holders are hired because they are often shun by Singaporeans and some S Pass nationality actually are more hospitable and more suited for the service industry.
With more demand for S Pass foreigners in Singapore's labour market, Singapore property market will see increased rental demand especially the smaller units at more affordable prices.
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Published On:October 12, 2012
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