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15 Mar 2012, 4.59PM

4 comments & replies |by Guest

I refer to an article that appeared yesterday on Efinancialcareers, aka a "premier" site for hiring in the finance sector, found here: http://news.efinancialcareers.com/87337/banks-fall-even-more-in-love-with-local-candidates-as-expat-hiring-slumps/

The article, which is published internationally, concludes:

".... is also seeing some banks move senior people from the US, Europe and the Middle East into Asia Pacific. It’s an alternative way of using internal talent that could be retrenched, scaling up businesses or providing career growth. He anticipates “a continued desire to localise positions wherever possible...”

Certainly, if this is the view of Asia Pacific HR firms of what's happening on the ground, what is the effect of "senior people" being parachuted in, as opposed to promoting a deserving local?

Keeping in mind that hundreds of millions of our tax dollars are being spent on improving productivity, with Finance as one of the target sectors. So what is being done to help Singaporeans get a fair shot at upward career mobility?

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KM-W

15 Mar 2012, 6.18PM

This should not be allowed or else again we will see more of our LT being displaced, replaced or misplaced. There must be something to protect locals by not allowing foreign companies to shift their redundent personnel to replace ours. Matter of fact is, if we face an economy downslide, our companies should let go their foreign employees first. If not, what will happen next? Your guess is as good as mine. Only question is: Are We Allowing This To Happen?

Guest

16 Mar 2012, 1.18PM

KM, it's not "Are we allowing this to happen"

It's already happening.. Actually, probably been happening for years. We are too "free market" with our labour pool. :(

Guest

24 Mar 2012, 10.37AM

This has happened across various industries for the past 5 years!!

Our own locals had to report to foreign trash who is 10 years their junior, does not know the asia banking regulations nor system. Many locals were replaced by foreigner Managers/ Directors who CANNOT do the job. While I myself had to train a caucasian who is paid 55% more than me who does not know regional laws nor capable of handling corporate responsibilites!

Why does the government not want our own locals to climb up the corporate ladder to earn a higher salary? This is a ridiculous government who yearns after pure GDP growth only. In fact, thousands of us ended -up jobless for years because Singapore is just too small to have 3 direct competitors in the same market of the size structure/ size and least to say, the same equipments or Accounting system, to even want to consider you.

So, WHEN will these recruitment agencies and Employers ever grow- up?

When will the government start to tell them, Singapore has only 2 million workforce, not 20 million for you to pick & choose in Asia?

Guest

24 Mar 2012, 11.02AM

ST, 01 March 2012. Can MP Indranee wake-up?

You argued in parliament against MP Chen's suggestion to form clusters with regards to Dependecy Ratio Ceilings! Frankly, arguing for the sake of arguing shows your myopic sight, and worse, you failed TERRIBLY without providing a better suggestion! Gosh!

Anyway, with DRC in these clusters, citizens will be able to fight into good companies with good jobs. What is bad about this idea? At least many of us will have room to grow in these foreign MNCs from Regional Manager to Regional Director.

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