Talent is one of the most important factors that organisations looking to set up or expand their operations in Singapore must consider. The country has a population of over 5.5 million people, which means there is an ample pool of talent from which to draw upon.
However, it is not just the population that makes Singapore a desirable location for businesses. The country also has a strong economy, which is supported by an impressive infrastructure. In addition, it boasts an English language-friendly environment, the only place in Asia, so it's ideal for foreign companies looking to expand globally.
Many organisations in Singapore are already doing well and they continue to grow because of the excellent talent pool that is available. For businesses that are looking to set up in Singapore, the benefits of doing so are clear.
One of the biggest benefits is that organisations will be able to tap into a highly skilled workforce. The country has a well-developed education system, which is renowned for its quality. Business leaders will also find the country to be a very open society that is free from much of the discrimination that is often found in other parts of the world.
When looking to set up or expand operations in Singapore, it is important to consider the talent pool that is already available. By doing so, businesses will be able to gain access to a highly skilled workforce that is capable of delivering quality results. Singapore’s government prioritises the talent that is available from Singaporean nationals or permanent residents before others. Although Singapore is rich in leadership talent, it is scarce for developers and engineers.
One of the most critical considerations companies looking to make an investment decision have to make is how they will gain access to the talent they require. Businesses all around the world will be faced with a similar challenge over the coming years as the world population continues to grow and develop. If a business cannot find the right talent for their company in Singapore, they can apply for an employment pass or visa for a specific foreign worker. They must be well experienced or be a specialised expert and add to the Singaporean economy.
While many established economies are facing potential skills shortages as certain industries begin to mature, many emerging economies still have plenty of available talent and resources. In Singapore, for example, the population is growing rapidly and this means that there are plenty new graduates available to start working for companies as soon as they graduate. This is common in Singapore to recruit graduates and train them within the business, rather than employing foreign talent.
Over the past few years, Singapore has enjoyed some of the highest rates of GDP growth in the world and its Government is striving to build on its already impressive position as one of the leaders of the global economy in the coming years. As the country's economy continues to grow and develop, many companies will be looking to set up their operations in the country to take advantage of the growth opportunities that are available there.
At the same time, it is important to note that Singapore has some of the most rigorous employment laws in the world. The Employment Act and the Tripartite Guidelines on Fair Employment Practices are two laws most business people need to be aware of when it comes to employment issues in the country.