October saw the rollout of tighter employment requirements for foreigners working in Singapore. Aimed to help businesses grow and support employment opportunities for locals, the rules make it more costly to hire foreigners across the board and increase the minimum salary in certain industries. In addition, companies must commit to a minimum of four weeks of advertising on government job boards instead of the previous two weeks and adhere strictly to the Fair Consideration Framework (FCF) hiring practices.
The Ministry of Manpower (MOM) monitors the overall proportion of foreigners hired in a company. If the ratio is higher than an organization’s industry peers or if there is a high concentration of foreigners from a single nationality, the company may be flagged and put on the FCF Watchlist. Companies on the FCF Watchlist will face scrutiny by MOM during their hiring process and face additional intervention or be banned from hiring foreign workers altogether.
Takeaway: Companies with a diverse mix of workers should work closely with a talent solutions partner that operates in line with MOM’s strategy and guidelines. In many cases, the talent solutions partner can also provide expertise to the best approaches for upskilling the local workforce to stay competitive and relevant in today’s market.
Coronavirus Considerations for Businesses
US: Worker Classification Laws Further Defined
US: Federal Regulators Tighten Rules on H1-B Visas
US: Joint Employer Ruling Struck Down for Now
Canada: New Ruling Reinforces Employer Responsibility in Terminations
UK: Migration Committee Advises Review of Shortage Occupations List
UK: IR35 Tax Update – Clarifies End-User Liability When Supply Chain Fails to Pay
Spain: Government Issues New Law on Remote Working
Australia: Underpayment of Workers Prompts Fines
This update contains general information only, and AGS is not rendering legal advice. Before making any decision or taking any action that may affect your business, you should consult qualified legal counsel. AGS shall not be responsible for any loss whatsoever sustained by any person or company who relies on this update.