All abroad

Why some Singaporeans take the overseas leap, and others don't

- Wong Pei Ting Correspondent and Tay Hong Yi

Openings abound for Singaporeans with the chops to work and lead across borders in the many multinational firms with global or regional hubs here, or in home-grown ones seeking to expand overseas.

The latest salvo to help workers here take on these roles was launched in November, with Workforce Singapore's (WSG) $16 million Overseas Markets Immersion Programme (OMIP) promising employers up to $72,000 for each local talent they send abroad.

The programme is the latest in a set of moves to invest in local workers rolled out since the October 2023 Forward Singapore report made clear that developing Singaporeans for top regional roles is one of the Government's priorities in the years ahead.

In the report, the fourth-generation leadership said it will encourage more Singaporeans to venture overseas as part of their career development, and will find ways to address their worries, such as how their children will adjust when the family returns home.

Such stints will be crucial if local talents want to climb the ranks in the majority foreign-owned companies registered here, which the Economic Development Board (EDB) said number 60,000 and employ some 1.2 million Singaporeans.

"With MNCs (multinational corporations) continuing to locate decision-making functions and critical activities such as manufacturing and innovation here, there will be more opportunities for Singaporeans to take up senior roles within these firms," said EDB executive vice-president Alvin Tan.

Even with this push, signs point to professionals here forgoing overseas stints that may prime them for plum roles, including in Singapore.

A 2023 poll by the Boston Consulting Group and two global recruitment firms found that 64 per cent of Singaporeans were willing to work abroad. This was down 23 percentage points from five years ago.