Singapore To Emerge As Asia's Talent Hub

By Author: Roger Lee
Total Articles: 1
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Singapore is all set to groom itself into a regional talent hub that will serve to complement its position as a leading business hub in the region.

The most critical corporate resource that determines the success of companies is talent. The hunt for the best and brightest is on and is gaining momentum with every passing day. Today, smart-minded, well-educated, sophisticated, tech savvy, and well-experienced business executives are what drive companies forward - at least for the large part. With Asia taking center stage in today's economic landscape, MNCs and SMEs alike are gravitating towards the Orient. The demand for talent is going up and Singapore is already on its way to fulfilling that demand.

At the opening of the 2010 Human Capital Summit in Singapore, Deputy Prime Minister Mr. Teo Chee Hean said

Singapore is uniquely positioned at the confluence of global talent flows between the East and the West, where we can develop new products, services, knowledge and practices customised for both markets.

There is no denying that foreign professional talent has played a key role in shaping Singapore's ...
... economic success. The government has taken definitive steps towards building an enviable workforce whether it's adopting an open immigration policy, building a strong education system, or introducing programs to harness skills and productivity.

The various Singapore work visa schemes demonstrate an openness to foreign professionals and entrepreneurs who are encouraged to work, set up a business and eventually settle down in Singapore. With Singapore emerging as one of the best countries to work, live and play, Singapore permanent residency schemes have also been gaining popularity. Singapore is now home to world-class universities and not only churns out top-class local talent but also serves to attract capable foreign students who go on to build their careers in Singapore. Furthermore, more MNCs are setting up their corporate training institutions in the city state. For instance, Procter and Gamble recently opened its Asia Leadership Development Center to train its managers across Asia while PWC set up its first Asia-Pacific HR research center in the city-state earlier this year. Various executive programs such as the Singapore Business Leaders Programme and Human Resource Strategies for Transforming Organisations, to name a few, prepare professionals on doing business in Asia.

For companies talent is what matters; capital, R&D, strategy, etc. come into the picture much later. Access to good talent translates into access to good ideas, therefore good projects and it is important to keep the talent pipeline full. This is where Singapore scores over its competitors. One of the reasons why businesses want to set up a company in Singapore is because they know they will have access to a readily available and highly talented workforce. Needles to say, the Singapore government's money, time, effort and energy on attracting, developing, and retaining talent is beginning to pay off. With Singapore fast emerging as the talent hub of Asia, it won't be long before it emerges as a global talent hub.

Interested in doing business in Singapore? Find out how to form a company in Singapore.