Tag: jobs

Housing, Jobs And Healthcare Concerns Weigh Heavily On Singaporean Minds

Are Singaporeans happy with life as a whole now – and do they feel confident about the next 10 years?

According to a survey commissioned by MediaCorp’s Current Affairs Unit, 66 per cent of residents said they are happy while 14 per cent said they are not. Asked whether life is close to ideal, five in 10 said yes.

Many expressed concerns over issues ranging from transport to housing and security. But even more people said they expected to be more worried about these issues 10 years down the road, reflecting a sense of uncertainty about the future.

Overall, six in 10 residents think economic conditions here will allow them to reach their personal goals.

CONCERNS OVER NEXT 10 YEARS

With the buzz of a General Election in the air, what weighs heaviest on the minds of Singaporeans?

The affordability of healthcare, availability of affordable housing, and the loss of potential jobs to foreigners were the top three concerns of respondents. All three were hot-button issues in the last General Election in 2011.

Concerns about elderly needs and the availability of integrated healthcare came in fourth and fifth, respectively.

The survey involved 2,000 citizens and permanent residents from the ages of 18 to 65, across all races and income groups. Half were surveyed via email while the rest were interviewed face to face.

HEALTHCARE

Despite more state funds being pumped into healthcare and subsidies such as the Pioneer Generation Scheme, as well as Medishield Life starting on Nov 1, healthcare affordability topped the list of respondents’ concerns, with 83 per cent saying they were worried about increasing healthcare costs.

Low-to-middle income workers (earning S$3,000 to S$5,000) were more worried about rising healthcare costs than low-income earners, who are on the receiving end of heavier subsidies and aid.

One respondent said: “Healthcare costs have increased exponentially over the years, notwithstanding the increase in subsidies.”

Associate Professor Paulin Straughan of the National University of Singapore’s sociology department said these are real concerns as life expectancy increases. “This quote sums it all. When you ask an individual to project their anxieties to the next 10 years, the only thing they can think of is the trend,” she said.

“This is one area we’ve been worried about because of the rise in costs. We are living much longer now, and we anticipate that we will be spending a significant portion of our life living with disabilities.

“And there’s nothing more worrisome than being ill when you don’t have an income any more.”

HOUSING

Despite HDB resale and private housing prices falling since early 2014, 78 per cent of respondents said they were concerned about the affordability of housing, with 47 per cent “extremely concerned”. The concern was greater among those aged 18 to 24.

78% of residents surveyed are concerned about the affordability of housing.“I think it would take at least 2 general elections before people actually change their attitude towards housing,” says cultural critic Nazry Bahrawi. Also hear from sociologist Paulin Straughan and social changemaker Rebekah Lin.Watch the full episode at http://video.toggle.sg/en/series/talking-point/ep24/338939.

Posted by Talking Point on Friday, August 7, 2015

Mr James Chia, a financial educator from Innervative Learning, said: “Ultimately you expect the trend to go up, especially with population increasing. It’s demand and supply, so the concern will always be there.”

Respondents, especially the younger generation, expressed worries about the difficulties of buying their own home.

Miss Rebekah Lin, co-founder of 50 For 50, a social enterprise, said: “The prices of property have risen much faster than an increase in salary. It is increasingly harder for young couples and singles to afford.”

Mr Chia said: “Housing is the biggest ticket item you’re going to buy in your life, so there will always be a concern.”

LOSS OF POTENTIAL JOBS TO FOREIGNERS

Since the 2011 General Election, the Government has scaled back foreign worker numbers and employment passes. It has also introduced initiatives such as the Jobs Bank, closer scrutiny of companies’ hiring practices, and even a wage subsidy if companies hire unemployed Singaporean professionals, managers and executives aged 40 and above for mid-level jobs.

But respondents said they are still worried that they will lose out on potential jobs to foreigners over the next five to 10 years.

Said Assoc Prof Straughan: “I’m not denying the fact that there are tension spots, but certainly we shouldn’t accept these as broad strokes to describe the implications of having immigration.

“Because truth of the matter is we don’t have enough of ourselves with a sustained low-fertility rate, (and) we’re not able to maintain the kind of buzz in our labour market.”

Mr Chia noted: “I think the concern runs deeper than the issue of foreigners.”

He said foreigners may be an easy target in terms of loss of jobs, but innovation, too, has the potential to displace jobs as Singapore gears towards being a smart nation.

Agreeing, Assoc Prof Straughan said that this boils down to being “future ready”.

She said: “You need to be able to future-proof your skill set so that you will always remain relevant no matter who is with you in the competitive arena.”

“The real issue (concerning foreigners) is really about a disparity that people perceive,” said Dr Nazry Bahrawi, humanities lecturer at Singapore University of Technology and Design (SUTD).

“I guess the PMETs are probably the ones that feel these most. And some find a bogeyman that is easy to seek,” Dr Nazry added.

“What we should do then is to look at how we can develop the groups that are caught up in this disparity rather than shape the discourse towards blaming a certain group that may not be the real concern here.”

Source: www.channelnewsasia.com

August 12, 2015
HSBC To Cut Jobs Globally To Focus On Asia

HSBC will slash as many as 50,000 jobs worldwide in an effort to streamline its businesses and improve its sluggish performance as it shifts its focus back to fast-growing Asian economies, Europe’s biggest bank said yesterday.

About half of the staff cuts will come from the sale of HSBC’s businesses in Brazil and Turkey, while the other half will come from cutting about 10 per cent of the remaining 233,000 staff by consolidating IT and back-office operations, and closing branches. About 7,000 to 8,000 of the workforce reduction are expected to be in Britain, where it is based.

When asked by TODAY, Mr Daniel Fitzpatrick, head of HSBC Singapore’s corporate communications, declined to comment on whether there would be any job cuts or gains in Singapore. The bank, which has been in Singapore since 1877, employs about 3,000 people here, its website shows.

The global workforce reduction exercise is part of a second attempt by HSBC chief executive Stuart Gulliver to boost profits since he took the helm at the start of 2011. The previous effort was foiled by high compliance costs, fines, low interest rates and weak growth.

The cuts will leave HSBC with about 208,000 staff by 2017, down from 258,000 at the end of last year, though the bank said it would be hiring in growth businesses and its compliance division.

HSBC also said it will cut its assets on a risk-adjusted basis by US$290 billion (S$392 billion) by 2017. That will include a reduction of US$140 billion in the Global Banking and Markets division, its investment bank, where returns have suffered in tough market conditions.

HSBC also lowered its target for return on equity to “greater than 10 per cent” by 2017, down from a previous target of 12 to 15 per cent by next year. Overall, HSBC aims to cut costs by between US$4.5 billion and US$5 billion by the end of 2017.

A key tenet of HSBC’s strategy unveiled yesterday is to expand its presence in China and across the Asia-Pacific region. HSBC has a sizeable presence across Asia deriving from its deep historic ties to the region.

It was founded in Hong Kong in 1865 when the city was a British colony in order to finance growing trade between China and Europe.

“Asia is expected to show high growth and become the centre of global trade over the next decade,’’ said Mr Gulliver.

HSBC’s plans to accelerate its investments in Asia will involve the expansion of its asset management and insurance businesses in a bid to earn more profits from the region’s rapidly expanding class of newly wealthy.

In particular, the bank is planning to expand in southern China’s Pearl River Delta manufacturing hub in southern Guangdong province, which is next door to Hong Kong and one of the wealthiest regions in the world’s No 2 economy.

It is also planning a similar expansion exercise in South-east Asia, where booming economic growth in countries such as Indonesia is swelling the ranks of the middle classes.

The Asian pivot raises the likelihood that HSBC will shift its headquarters to Hong Kong.

HSBC has set out criteria it will use to evaluate whether to move its headquarters from London, where a bank levy cost the lender £700 million (S$1.45 billion) last year. These include factors such as economic growth, the tax system, government support for the growth of the banking system, long-term stability, and the possibility of attracting good staff.

The bank said it would complete the review of the possible move by the end of this year.

Source: www.todayonline.com

June 10, 2015
Filipinos Are United And Hungry For Jobs In Singapore

As the saying goes, “The hunger of a worker makes him work. His hunger drives him on.”

A post (‘PROOF THAT PAP ALLOWS FOREIGNERS TO SNATCH PMET JOBS!‘) on allsingaporestuff.com has revealed that Filipinos are united and hungry for jobs.

Apparently, a blog site called “Singapore OFW” was set up not too long ago this year. It has a corresponding Facebook page – https://www.facebook.com/theSingaporeOFW.

The site helps to gather job information posted by some prominent companies in Singapore in one place so that Filipinos can easily search for job vacancies in Singapore.

This is what its home page says:

Here are the top 5 reasons why Pinoys go to Singapore for work:

1. Easier to apply
With the fast pace environment we currently face, technology is a helpful tool that makes our lives easier. Nowadays, many employers post job openings through their website or any job sites. This way, job seekers can readily upload resumes while employers can screen applicants through their submitted curriculum vitae. This is a great method of pre-screening potential hires.

Once selected, employers will directly contact the applicant for scheduled interviews. Singapore also just needs a few basic employment requirements, such as transcript of records, NBI clearance, certificate of employment, NSO birth certificate, and a Philippine passport. You sure have all these, right?

2. Better job opportunities and career growth
Singapore has numerous jobs offered to expats not only focusing on the corporate world. From finance and accounting to administration and human resource management, Filipinos possess the necessary qualifications and are highly skilled. In the medical field, a growing number of nurses and caregivers are needed in the hospitals. IT professionals such as web or mobile app developers are also in demand in Singapore. The hotel and restaurant industry never ceases its expanding multinational business. Filipinos are competitive enough to work here so, when opportunity knocks, grab that chance!

3. Location is just near the Philippines
Yes, it just takes an hour or two to get to Singapore, and Filipinos find this very convenient. During holidays or days-off, some would just easily book a ticket, fly to the Philippines and get back to Singapore for the working days again. Airlines are also offering low fares, so traveling is so quick that homesickness is minimized. As an OFW in Singapore, you do not need to miss your sibling’s graduation or your mother’s birthday, just because you work abroad.

4. Place is beautiful, clean and safe
You may be working all day long but at the end of the day, you will feel relaxed because the environment is simply amazing. During your free time, you can spend time wandering in the famous Universal Studios, Gardens by the Bay and many others. After all, you still need to preserve the work-life balance.

Cleanliness is also of utmost importance in Singapore. They are strict in implementing rules regarding littering, smoking, and others. Lesser crime rates are also reported in Singapore because not only are their people disciplined, but the government is serious of implementing its laws. How wonderful to work in a safe surroundings, isn’t it?

5. Good salary, benefits and privileges
Compared to other Asian countries, Singapore is one of the many that offers a competitive salary package. What’s more catching here is the fact that same privileges are also given to foreign workers. As a starter, you need to undergo probationary period lasting 3 to 6 months, similar with the Philippines. As years go by, you may even apply for citizenship following their requirements and regulations. Great opportunity, right?

On its Facebook page, allsingaporestuff.com goes through all the job postings in May 2015 made by prominent Singapore companies and organises them:

Clicking on a link on the website enables pinoy job seekers to see a list of jobs offered by that company. For example, clicking on the Singtel link enables one to see the following:

Singtel is hiring this month! Here are the job vacancies below:

Job Title: IT Project Associate – 12 months – Consumer Sales
Consumer Singapore | Contract | Singapore
APPLY HERE

Job Title: Manager, Regulatory
Group Corporate Functions | Permanent | Singapore
APPLY HERE

Job Title: Finance Manager
Group Corporate Functions | Permanent | Singapore
APPLY HERE

Clicking the “APPLY HERE” link takes the job seeker directly to the company’s job page.

In the comment section of allsingaporestuff.com. com’s Facebook page, one can literally see hundreds of follow-up comments with multiple tags, informing friends and relatives of the availability of jobs:

It can be seen that Filipinos are truly united, trying to help each other to get a high-paying job in Singapore for a better life.

The Singaporean who alerted everyone about “Singapore OFW” on allsingaporestuff.com asked, “When PAP say foreigners are here to create jobs for us or they are here to do the jobs Singaporeans don’t want to do, are you sure that’s the truth?”

One can’t exactly blame the Filipinos for trying to land a good job in Singapore so as to secure a better life for themselves and their families.

Whether Filipinos getting jobs in Singapore can help create more jobs for Singaporeans is a question that Singaporeans have a right to ask the Singapore government.

Assuming all the jobs in the links above go to Filipinos, do you think it will somehow benefit Singapore by creating more jobs for Singaporeans in turn?

What do you think?

Source: www.tremeritus.com

May 26, 2015
The Hottest Jobs And Highest Paying Sectors In Singapore

The five highest-paying sectors in Singapore are banking and finance; oil, gas and petrochemicals; pharmaceuticals; semiconductors; and, information technology, according to a new report by staffing firm Kelly Services.

Its 2015 Singapore Salary Guide also highlighted several jobs as particularly high-paying. Network and systems engineers can make up to $4,000 to $7,000, while application development consultants can earn up to $5,000 to $7,000 and financial accountants can earn up to $4,500 to $9,500. Supply chain managers can earn up to $5,000 to $14,000 and compliance managers can make up to $10,000 to $12,500. These figures apply to experienced professionals.

Four other things Kelly Services says about the Singapore jobs market:

1. Industries that are expected to grow in 2015 are banking & finance, life sciences, supply chain, procurement and logistics and advanced manufacturing.

2. In banking and finance: Changes in financial regulations have raised demand for staff managing compliance and risk management. Compliance managers can expect to earn $10,000 to $12,500 monthly, while risk managers can look forward to salaries of $12,500 to $14,000.

The entry of new players into the banking scene has also increased demand for relationship managers. They can expect to earn $7,500 to $18,000 per month.

3. In healthcare: With eight of the top 10 pharmaceutical and medical technology firms basing their headquarters in Singapore, there is growing demand for those with expertise in the laboratory, technical sales and regulatory affairs.

4. In information technology: Growing demand for mid-level IT professionals, with businesses increasingly concerned with cyber-security.

Source: www.straitstimes.com

April 23, 2015
Positive Outlook For Singapore Economy In Immediate Future

With a strong pipeline of investments, the overall outlook for Singapore looks positive in the immediate future, said Minister for Trade and Industry Lim Hng Kiang.

However, he also cautioned that Singapore faces some challenges in the immediate one to two years – these include an ageing population and the task of matching Singaporeans’ aspirations.

Mr Lim was speaking during a visit to the Braddell Heights ward on Sunday (Feb 1) – his first visit in 20 years. During a dialogue with residents of the ward, he was asked for his take on Singapore’s future economy and population.

Citing a 2011 World Bank study of 101 middle-income countries, Mr Lim noted that Singapore was one of just 13 countries that managed to move from middle- to high-income, over a period of 50 years.

But he stressed that Singapore still has to be cautious: “What it means for us as we celebrate 50 years is – number one, it is not very easy to become a high income country; and number two, it is also not very easy to stay there.

“There is a lot of competition and if you mismanage like some countries – for example Greece – you can drop very quickly and the drop need not be gradual, it can be a very severe drop over a period of five years. As we look after Singapore and we look to our future, let us be careful and reinforce those things which make us successful. Let us also be careful not to fall down the slippery slope and end up with such problems.”

With investments coming into Singapore and local companies investing overseas, Mr Lim said he is confident that the country will be able to maintain steady growth of between two and four per cent. This is because of Singapore’s strong pipeline of investments, the Economic Development Board still being able to attract investments to Singapore, and Singapore companies investing overseas – which allow them to generate good jobs with their headquarters in Singapore to look after their overseas subsidiaries.

However, he cautioned that there may be some ups and downs. One challenge is the slowdown in Europe, China and Japan’s economic engines.

“We have to find new opportunities for our companies. But overall, we are still optimistic that we can generate the jobs and the big challenge now is how to match Singaporeans with these jobs,” said Mr Lim.

“HUMAN RESOURCE IS THE BEST AND ONLY RESOURCE WE HAVE”

Thus the need for Singapore’s focus on education and training. “Human resource is the best and only resource that we have. Other resources, like land and energy, will face greater constraints. If you look at what we’ve achieved in the last 50 years and look ahead to the next 50 years, there’s optimism we can do more,” said Mr Lim.

He cited how in 1966, only half of Singaporeans continued education past the primary six level. This is reflected in a high percentage of the current workforce having primary and secondary level qualifications.

But Mr Lim noted that this demographic has changed – more than 50 per cent of those who are under 30 and entering the workforce are now graduates. Another 30 per cent are polytechnic graduates, with less than 15 to 20 per cent having primary or secondary school qualifications.

He said that while an increasingly educated workforce is welcomed, this poses challenges as well and the economy has to adapt: “If your restaurants depend currently on the older workers with less education to be serving them – 10 to 15 years from now, these people will not be in the workforce. Your new workforce are polytechnic diploma holders and graduates. Therefore, you have to restructure your service industry to cater for this new profile of workers.

“In MTI and MOM, we are very concerned and we study all these statistics very carefully… The objective given to us is to make sure we are able to restructure the economy, make sure we can generate good jobs that satisfy and meet the aspirations of our new workers.”

About 280 people attended the dialogue, which lasted for over an hour. Questions ranged from Singapore’s education system, to changing consumer habits and the Central Provident Fund. One participant also asked what the role of SMEs looks like in Singapore’s future. Mr Lim said that moving forward, it will be key to have a strong pipeline of startups and SMEs, and to facilitate local SME tie-ups with big companies and foreign SMEs.

Source: www.channelnewsasia.com

February 2, 2015