In this article
- Singapore’s Newest Strategy to Attract the Best
- ONE Pass — Unmissable Opportunities
- Advantages of the ONE Pass for Singapore and Top Talent
- Attracting Top Talent
- Enhancing Singapore’s Global Competitiveness
- Fostering Innovation and Growth
- Supporting Singapore’s Diversification Efforts
- Secure ONE Passes for Your Employees
There’s an arms race between boardrooms worldwide to attract and retain the best talent. And with 75% of companies reporting talent shortages — a 16-year high — it’s a battle of attrition.
These are challenging times for companies, especially when innovation is becoming a top priority for forward-thinking organisations that wish to future-proof their revenue streams.
Regarding this sort of foresight, Singapore has consistently demonstrated remarkable precognition in guiding the country towards economic success.
Singapore’s Newest Strategy to Attract the Best
Its efforts have transformed Singapore from an underdeveloped country into one of the world’s strongest and most dynamic economies. Their visionary approach has led to steady economic growth and helped establish Singapore as a hub for international business and finance.
It’s little surprise then that Singapore has bought out the big guns with their new Overseas Networks and Expertise (ONE) Pass, which aims to attract the best talent worldwide.
While this will be a game changer for Singapore and distinctively propel it in the global talent race, we should take a look at several attributes of this ONE Pass. Let’s assess the ONE Pass, and find out why it’s such a powerful tool to attract global talent.
ONE Pass — Unmissable Opportunities
The ONE Pass promises to make immigration into Singapore more accessible and alluring. It allows preferential access for overseas professionals who possess expert knowledge or skills that would benefit society and businesses in Singapore.
Key Features of the ONE Pass
- Eligibility Requirements: Individuals who earn a fixed monthly salary of at least $30,000 or more, or have outstanding achievements in arts and culture, sports, science and technology, or academia and research, are eligible to apply
- Multiple Employer Capabilities: ONE Pass holders can concurrently start, operate, and work for multiple companies in Singapore, which is a unique advantage compared to the Employment Pass (EP) that is tied to the specific job of the pass holder
- Longer Duration: The ONE Pass is valid for 5 years, which is longer than the typical two to three-year duration of an EP. It is also renewable for another 5 years
- Dependant Sponsorship: ONE Pass holders can sponsor dependants, and their spouses will be allowed to work upon obtaining a Letter of Consent
- No Foreign Worker Levy or Quota: Unlike other passes, the ONE Pass does not come with a foreign worker levy or quota
Advantages of the ONE Pass for Singapore and Top Talent
Why is the ONE Pass advantageous for Singapore? We look at some of its benefits for the competitive country in its battle for the best:
Attracts Top Talent
The ONE Pass is designed to attract top talent from around the world and provide them with the opportunity to work and thrive in Singapore.
With its long duration, multiple employer capabilities, and attractive salary requirements, the ONE Pass offers a unique and compelling proposition to top talent.
Enhances Singapore’s Global Competitiveness
The ONE Pass is part of a broader set of policies to ensure Singapore’s workforce remains competitive in the global talent race.
With a strong and dynamic economy, world-class infrastructure, and a favourable business environment, the ONE Pass further cements Singapore’s position as a hub for top talent.
Fosters Innovation and Growth
The ONE Pass provides top talent with the opportunity to work for multiple companies in Singapore, which creates a fertile environment for innovation and growth.
Being able to work for multiple companies simultaneously enables top talent to share their expertise and insights across different industries, leading to new and innovative solutions.
Supports Singapore’s Diversification Efforts
The ONE Pass supports Singapore’s efforts to diversify its economy and attract top talent in new and emerging industries.
With its focus on business, arts and culture, sports, academia and research, the ONE Pass will help to bring a new generation of top talent to Singapore, which will help drive the country’s economic diversification efforts.
One of the key factors behind Singapore’s economic success is the government’s commitment to being proactive and forward-thinking.
They have consistently made strategic investments in areas with the potential for long-term growth, such as technology and innovation.
They have also worked to create a business-friendly environment that supports entrepreneurship and attracts foreign investment.
Secure ONE Passes for Your Top Executives Now
The ONE Pass is another major step forward for Singapore and its efforts to attract and retain top talent.
With its long duration, multiple employer capabilities, and attractive salary requirements, the ONE Pass offers a compelling proposition to top talent and further cement Singapore’s position as a hub for top talent.
Whether you are a top talent looking to work in Singapore or a company looking to hire top talent, the ONE Pass is a unique and innovative solution that should be considered.
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