The war for global talent is ruthless and opinions change quickly.
In February, Bloomberg reported that multinational corporations are increasingly choosing Singapore over Hong Kong for their Asia headquarters to tap our broader talent pool. Then barely five months later, it published an opinion piece arguing that Singapore's recent manpower policies risked "turn(ing) foreign companies away".
Perceptions shift in the blink of an eye. It's small wonder, then, that the top five economies in Swiss business school IMD's World Competitiveness Ranking (Singapore, Switzerland, Denmark, Ireland and Hong Kong) keep switching the pole position among themselves, with Singapore claiming top spot this year. All are small, open economies with similar strengths, credited for being nimble and agile, and well-known for being diverse, cosmopolitan and welcoming to global talent.
Competition for global talent is now coming even from countries that were traditionally thought of as net exporters of talent. Recent findings from Indeed.com show that searches for jobs in India surged by 60 per cent between June 2021 and June 2024, while outbound job searches declined by 17 per cent over the same period as more Indian professionals chose to take up opportunities at home.
As I highlighted in an opinion piece in The Straits Times earlier this year, Singapore needs to grow its foreign manpower to realise its 2 to 3 per cent economic growth targets. This is just simple mathematics for a country with limited local manpower, and a fertility rate that has dropped to historic lows.
Bu hikaye The Straits Times dergisinin September 12, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye The Straits Times dergisinin September 12, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
HORSEBACK FISHING ALIVE IN BELGIUM
A fisherman on horseback drags his net in the sea to catch grey shrimp in Oostduinkerke in Belgium in October.
K-pop star Jessi cleared of charges in case of fan assault
South Korea-based American singer-rapper Jessi has been cleared of all charges in the case of a fan assault that took place in front of her.
S'pore movies Wonderland and A Year Of No Significance selected for China film festival
Two made-in-Singapore movies have been selected to take part in the China Golden Rooster & Hundred Flowers Film Festival.
JJ Lin's concert tour to return to Singapore in December
Home-grown Mandopop star JJ Lin is set to return to Singapore's National Stadium on Dec 28 and 29 for the second leg of his JJ20 World Tour.
Three charged in Liam Payne's death
Three people have been charged in relation to One Direction singer Liam Payne's death in a fall from his Buenos Aires hotel balcony in October, the Argentine authorities said on Nov 7.
Looks like a lion, purrs like a pussycat
The two-door Mercedes-AMG CLE53 appears stout and aggressive, but is a friendly and easy-to-drive car
Dramatic electric roadster bolsters MG's street cred
The Cyberster is a two-seater convertible that mixes brawn and beauty as well as value and efficiency
V12 performance and looks define new Aston Martin Vanquish
After a six-year hiatus, the Aston Martin Vanquish returns as a meaner and bigger grand tourer.
Lively and sublime all-French concert by Red Dot Baroque
The Tastes Reunited comes from the French phrase Les Gouts-reunis coined by Baroque composer Francois Couperin, referring to a glorious unification of Italian virtuosity and dramatics with French elegance and restraint in musical performance.
Golden age for parks in America
Cities are sprucing up waterfronts, transforming abandoned industrial sites and bringing green space to neighbourhoods
