Pass for top talent, 5-year EP for talent-scarce tech roles among Singapore’s new foreign talent moves

A new pass for top foreign talent across all sectors and a longer 5-year Employment Pass (EP) option for specific tech occupations are among several upcoming moves to strengthen Singapore’s position as a global hub for talent, said Manpower Minister Tan See Leng said on Monday (Aug 29).

A new S$22,500 salary benchmark, pegged to the top 10 per cent of EP holders, will also align and raise the requirements for 3 existing policies.

These are the exemption thresholds for the Fair Consideration Framework (FCF) advertising requirements and the upcoming points-based Complementarity Assessment Framework (Compass), both currently at S$20,000, as well as the qualifying salary for the Personal Employment Pass. The new benchmark will take effect from Sep 1, 2023.

Singapore needs to make these moves now to be clear that it is open to the world, said Dr Tan at a press conference announcing the new changes.

“We are emerging from the pandemic, but significant geopolitical uncertainties and economic uncertainties remain,” said the minister. “There are countries that are turning inwards. There are also others that are going out of their way to compete for global talent.”

“In this climate, all the more, we need to be clear about where Singapore stands. We cannot leave any room for investors to doubt or have questions as to whether Singapore remains open.”

Singapore Business Federation chief executive Lam Yi Young said the enhanced schemes “address some of the feedback that businesses have been giving about the need to bring in talent”. Over time, the moves will also help to raise the capabilities and the level of skills of Singaporeans, he added.

Applications will open for the new Overseas Networks and Expertise (One) Pass from Jan 1, 2023. Valid for 5 years, the personalised pass will allow holders to start, operate and work for multiple companies in Singapore at any given time.

Applicants must earn at least S$30,000 or have “outstanding achievements” in arts, sports, science or academia.

Separately, experienced tech professionals whose skills are in short supply will have the option of a 5-year EP from Sep 1, 2023. This will help Singapore “anchor tech capabilities” while developing its local talent pool, said the Ministry of Manpower (MOM) in a statement. Currently, the maximum validity is 2 years for new EPs and 3 years for renewals.

Applicants must earn a monthly salary of at least S$10,500 – more if they are older – and fill specific tech occupations on the Compass Shortage Occupation List, to be released in March 2023.

Wong Wai Meng, chair of SGTech, said the longer EP option is a “much-welcomed measure” that will allow companies to make better manpower plans to meet their mid-term demands.

Asked what tech roles might be on the list, Dr Tan said various government agencies are currently working together to determine what tech skills will be in demand, given that the industry changes very quickly. For instance, he noted that coding was at one stage “very hot”, but now people have moved on to data analytics, natural language processing and machine learning.

Wong said SGTech hopes to work closely with the government to identify the job roles and skills that are currently in shortage. “Businesses are telling us that the top 3 in-demand technical skills are cybersecurity, cloud computing and product development or management. Sustainability and digital trust are also 2 key emerging fields to watch out for.”

Candidates must also pass Compass and score at least 10 points on its diversity criterion, meaning that their nationality must account for less than 25 per cent of the firm’s professionals, managers, engineers and technicians (PMETs).

As for the new salary benchmark, Dr Tan said it was introduced to provide employers with greater clarity and transparency on the work pass framework.

“Going forward, we will review these thresholds annually against the benchmark, taking into account prevailing economic conditions,” added MOM in its statement.

To help companies be more responsive to business needs, the required FCF job advertising duration will be shortened back to 14 days with effect from Sep 1. It had been lengthened to 28 days in October 2020 amid a weak job market during the Covid-19 pandemic, but is being restored to its original length as the labour market has recovered.

This will certainly help employers, especially those struggling to hire enough Singaporeans in a tight labour market, to meet their business needs, said the Singapore National Employers Federation in a statement.

And with immediate effect, EP applications will be processed – or an update given to employers – within 10 business days. Currently, 85 per cent of online applications are processed within 3 weeks, said MOM.

Singapore Indian Chamber of Commerce and Industry chairman Neil Parekh said the group especially welcomes the improvements to the processing time for EP applications, as it remains a “key concern” of its members.

“MOM’s announcement of improving the processing time to within 10 business days is excellent news for employers who need to bring in workers on EP.”

Source: The Business Times © SPH Media Limited. Permission required for reproduction.