During his National Day Rally 2011 speech, Prime Minister Lee spoke of several plans to improve the employment/job market for Singaporeans. He also assured Singaporeans that the government would continue to put locals first, in all their policies.
In recent times, one area of concern for Singaporeans has been the number and type of job opportunities available. In this regard, the Prime Minister mentioned the following:
- Singapore has let in a steady flow of foreign workers at many levels. This policy has helped the economy to thrive. However, he understands that Singaporeans worry about competition from foreigners
- The country needs some non-Singaporeans at all levels to complement Singaporeans and make up shortfalls. But it is essential that Singaporeans remain the core of the workforce, to avoid becoming like the Gulf States, where the workforce is predominantly foreign
- The government has been tightening up on foreign workers progressively through foreign workers’ levy and dependency ratios. For example, the ‘S’ Pass cut-off was raised to $2,000 recently. They will continue to protect Singaporean workers, especially at lower end. But it is important to be mindful especially of local SMEs, who often need foreign workers most
- At upper end, Singapore needs to allow in high quality professionals and entrepreneurs liberally to grow businesses here, and help Singapore compete internationally
- Main issue is the middle-lower range, where foreigners on Employment Passes work alongside Singapore’s middle level managers and executives. Most of Singapore’s younger executives are university and poly graduates, who are not near the top yet and feel vulnerable to unrestrained competition from foreigners. The government will tighten further on this middle range of foreign workers
- There will be further increases in the salary thresholds for Employment Passes and tightening of educational qualifications as well. The proposed increase in salary requirements for foreign talent will be the second one this year. At present new employment pass applicants must earn a monthly income of at least S$8,000, S$4,000 and S$2,800 to qualify for the three categories of employment passes (P1, P2, Q1)
- MOM will announce details soon and will also work together with tripartite partners to develop guidelines for fair and responsible recruitment and employment practices
- But it is important to maintain a balance and bring in enough foreign talent so that the economy has the manpower and talent to grow. This will help Singapore to keep attracting investments from foreign companies, maintain global competitiveness, keep the society vibrant and also increase opportunities for locals
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