Securing an employment pass (EP) in Singapore has always been “cumbersome,” which is why it would not be surprising if firms—especially those looking to hire more foreigners for niche jobs—would have a negative reaction to the imposition of stricter rules for work permit applications. But according to Drew & Napier LLC’s Co-Head of Employment, Kelvin Tan, the new rules hold several advantages for employers.
Tan told Singapore Business Review that there will be two main changes to EP applications: 1) an increase in the qualifying salaries which will be benchmarked to the top 33% of local professionals, managers, executives and technicians (PMET) by age; and 2) the introduction of the new points-based Complementarity Assessment (COMPASS) framework.
“Raising the qualifying salaries for EP applications goes towards ensuring that EP holders are comparable in quality to the top one-third of our local PMET workforce,” said Tan.
Changes in salary and evaluation
Bu hikaye Singapore Business Review dergisinin Issue 100 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Singapore Business Review dergisinin Issue 100 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Giriş Yap
Singapore's health data bill mandates regulated information sharing
To ensure data disclosure and sharing, the Ministry of Health can impose up to $1m in fines for non-compliance.
Venture capitalists sharpen focus on targeting startups' profit paths
Deal activity in Asia Pacific fell 26.3% YoY in 2023, reflecting VC firms' caution.
Strategic locations and value-added services drive growth in self-storage sector
In Singapore, StorHub has introduced online booking for storage spaces of various sizes.
Why Tim Hortons vies for top spot in Singapore's 'third place' Western coffee scene
Capturing this market is better than competing directly with kopitiams and grab-and-go concepts.
CEO Justin Quek steers OrangeTee to real estate centered around customers
A step toward this commitment is the launch of the consumer-centric event 'Property Festival' in 3Q24.
Retailers are urged to view returns management as loyalty drivers
15% of customers abort a transaction if the return policy is subpar.
National security is put front and center with new Significant Investments Review bill
Legal experts believe cybersecurity and AI entities are likely to be affected by the measure.
Three strategies to mitigate BEPS 2.0's tax impact for MNEs
Should the directive be implemented, selected MNES will be subject to a global minimum tax of 15%.
JustCo debuts first pay-per-minute airport hub for business nomads
The co-working space has around 50 hot desks and nap pods, allowing travellers to 'check-in' at work.
Fr8Labs secures major backing to digitalise Asia's freight sector
Investors are showing strong support for Fr8Labs, a company set on transforming the freight forwarding sector traditionally bogged down by manual processes.