atans1

Tightening FT immigration helps S’poreans PMEs

In Political governance, Public Administration on 20/05/2014 at 4:41 am

Al least for finance and accounting professionals.

Salaries for finance and accounting professionals in Singapore are expected to rise, with the tight labour market likely to force companies to increase wages to attract and retain employees, said recruitment firm Robert Half on Thursday in a press release.

55 per cent of companies in Singapore plan to increase wages for professionals in their finance and accounting department. Only 1 per cent of firms plan to cut wages, while the remaining 43 per cent plan to maintain salaries.

This is in contrast to the other five markets surveyed. (CNA last week). These markets are China, Hong Kong, New Zealand, Australia and Brazil.

So waz this rubbish that welcoming FTs with open arms helps S’poreans get better wages? The extract implicitly shows that a liberal Ft policy helps repress wages of locals PMEs; and even ST reported that the liberal FT immigration policy deprive young of jobs:https://atans1.wordpress.com/2013/10/28/proof-that-fts-displace-sporeans/.

An example of tightening polices: a Pinoy couple and their son are PRs, but their young two-month old child only has a long-term pass. The couple are KPKB about discrimination and fear. I think they are barking up the wrong tree. But then they are Pinoys , playing the “victim” game, like PIDCS . ST reported:

PIDCS is currently being targeted, presumably by Singaporeans who oppose the staging of the event (‘Organisers of Philippine event targeted’, 17 Apr).

PIDCS is said to have received anonymous phone calls demanding the cancellation of the event. The organisers have reportedly felt harassed.

“The callers say we have no right to hold the event in Orchard Road,” a PIDCS spokesman said. “We do not dare to pick up phone calls now if we don’t recognise the number.”

As I told a Pinoy community adviser, “S’poreans, unlike Filipinos, don’t go round shooting people in malls. Nor do they go round burning the Filipino flag. So pls tell the organisers not to BS their fear. This is S’pore not Manila or Mindanao.”

(Related post: https://atans1.wordpress.com/2014/04/25/grandfathers-place-is-it-pidcs-finest-filipino-talents-at-work/)

But let me end constructively. Three cheers for OCBC and may others follow it. I’ll let BT tell the story

For the first time, a local bank will be giving its employees payouts from the Wage Credit Scheme (WCS), instead of using the funds for training and development initiatives.

OCBC Bank will be disbursing $3 million of its first WCS payout to 1,500 eligible Singaporean employees of the bank and its securities subsidiary …

Introduced in Budget 2013 as part of the three-year Transition Support Package, the $3.6 billion WCS helps firms cope with rising wages in a tight labour market. It also encourages businesses to channel resources towards enhancing productivity and subsequently share productivity gains with employees. The WCS payouts co-fund 40 per cent of pay rises given to Singaporeans who earn a gross monthly income of $4,000 and below.

The 1,500 recipients of OCBC’s WCS payout make up about 25 per cent of OCBC … total staff strength in Singapore. Most of these recipients are junior executives and unionised employees, serving as assistant managers, bank officers and clerical staff in the bank’s consumer financial services as well as operations and technology divisions. They will receive the payouts in June and July.

Recipients can opt to have their payout credited to their Central Provident Fund (CPF) accounts or to invest in shares through the OCBC Blue Chip Investment Plan, which is open to all employees of the bank. Employees can choose only one of the two payout options.

 

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  1. This Pinoy couple appears to be part of PAP’s orchestra singing “singapore citizens are xenophobia!”

    • Hit it on the nail. They’d for their own gd realise that there is big difference between xenophobia and immigration concerns. What really upsets me is that the Philippines is 100x more violent than S’pore. Yet the Pinoys like to say they are afraid for their safety here. As for discrimination, the Pinoy elite trreat the others like dirt. But come here, quick to shout discrimination. WTF.

  2. […] – My Little Corner: Commenting anonymously is a bad habit – Jeraldine Phneah: Four main arguments for the reintroduction of Chinese dialects on Singapore’s free-to-air television – Thoughts of a Cynical Investor: Tightening FT immigration helps S’poreans PMEs […]

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