Singapore and Hong Kong are two of the most competitive cities in the world for talent. Both cities offer a high standard of living, a strong economy, and a diverse range of job opportunities. However, the competition for talent is fierce, and both cities are constantly striving to attract and retain the best and brightest.

In this post, we will take a look at the competition for talent in Singapore and Hong Kong. We will discuss the factors that make these cities attractive to job seekers, as well as the challenges that they face in attracting and retaining top talent.

Factors that make Singapore and Hong Kong attractive to job seekers

There are many factors that make Singapore and Hong Kong attractive to job seekers. These include:

• High standard of living: Both Singapore and Hong Kong offer a high standard of living. The cost of living is high, but so are salaries. This means that people who live in these cities can afford to live comfortably.
• Strong economy: The economies of Singapore and Hong Kong are both strong. These cities are major financial centers, and there are many job opportunities in the finance sector.
• Diverse range of job opportunities: In addition to finance, there are many other job opportunities in Singapore and Hong Kong. These cities are home to a wide range of industries, including technology, manufacturing, and tourism.
• English language: English is widely spoken in Singapore and Hong Kong. This makes it easy for job seekers from other countries to find work in these cities.
• Multicultural environment: Singapore and Hong Kong are both multicultural cities. This means that people from all over the world live and work in these cities. This can be a great experience for people who want to learn about different cultures.

Challenges in attracting and retaining top talent

Despite the many advantages that Singapore and Hong Kong offer, they face some challenges in attracting and retaining top talent. These include:

• High cost of living: As mentioned above, the cost of living in Singapore and Hong Kong is high. This can be a barrier for some job seekers, especially those who are not earning a high salary.
• Competition for talent: The competition for talent is fierce in Singapore and Hong Kong. This means that companies have to offer competitive salaries and benefits in order to attract and retain top talent.
• Lack of affordable housing: The lack of affordable housing is a major challenge in both Singapore and Hong Kong. This can make it difficult for people to find a place to live, which can impact their decision to move to or stay in these cities.

The competition for talent in Singapore and Hong Kong is fierce. Both cities offer a high standard of living, a strong economy, and a diverse range of job opportunities. However, they also face some challenges in attracting and retaining top talent. These include the high cost of living, the competition for talent, the lack of affordable housing, and the political instability in Hong Kong.

Despite these challenges, both Singapore and Hong Kong remain attractive cities for job seekers. They offer a great quality of life and many opportunities for career advancement.

The Asia Pacific workforce is in a state of flux. The COVID-19 pandemic has upended the way we work, and employees are rethinking their priorities. In PwC's Asia Pacific Workforce Hopes and Fears Survey 2022, they surveyed nearly 18,000 workers across the region to get a sense of what they're thinking and feeling.

The survey found that employees are restless, with just over half satisfied with their job, over a third planning to ask for a pay rise in the next 12 months, and one in five intending to change employers. Given the acute skills shortage across the region, companies must do more than attract new staff; they'll also need to 're-recruit' the talent they already have by creating the conditions that make people want to stay.

Here are seven reasons why you should read PwC's Asia Pacific Workforce Hopes and Fears Survey 2022:

1. To understand what employees want

The survey found that employees want more meaningful work, a better deal around fair pay, and to be able to bring their authentic selves to work. But are their leaders listening?

2. To identify the key trends shaping the future of work

The survey also found that employees are concerned about the impact of technology on their jobs, the future of work, and the future of the workplace. By understanding these concerns, companies can start to develop strategies to address them.

3. To benchmark your company against the competition

The survey provides a wealth of data on employee sentiment and behavior across the Asia Pacific region. By benchmarking your company against the competition, you can identify areas where you're doing well and areas where you need to improve.

4. To attract and retain top talent

In a competitive job market, it's more important than ever to attract and retain top talent. By understanding what employees want and need, you can create a workplace that people are excited to be a part of.

5. To improve employee engagement and productivity

When employees are engaged and productive, they're more likely to stay with your company. By understanding what drives employee engagement and productivity, you can create a workplace that helps people reach their full potential.

6. To make better business decisions

The survey provides valuable insights into the mindset of the Asia Pacific workforce. By understanding what employees are thinking and feeling, you can make better decisions that will impact your business.

7. To stay ahead of the curve

The world of work is changing rapidly. By staying ahead of the curve, you can ensure that your company is prepared for the future.

Conclusion

PwC's Asia Pacific Workforce Hopes and Fears Survey 2022 is a must-read for anyone who wants to understand the current state of the Asia Pacific workforce. The survey provides valuable insights into the mindset of employees, the key trends shaping the future of work, and how companies can attract, retain, and engage top talent.

ASIA TALENT MOBILITY ALLIANCE (ATMA) WELCOMES ECA International WHO JOINS AS FOUNDATION PARTNER

Foundation Partners play a fundamental role in the development of Talent Mobility in Asia and the formation of ATMA's supportive programs and services for the industry across the region.

Hong Kong, March 27 -  Asia Talent Mobility Alliance (ATMA), a not-for-profit organization dedicated to enhancing the innovation and development of the talent mobility industry of Asia welcomes the support of ECA International, a leading provider of data, specialist software, consultancy and training to business on international talent mobility management as a Foundation Partner.

Foundation Partners provide substantial financial, talent and knowledge resources to help fulfil the vision and mission of ATMA. The program stands apart from a typical sponsorship and involves a deep partnership and leadership position for developing the organization. Invitations were extended to those companies with a demonstrated dedication to the professionalism and advancement of the talent mobility industry in Asia. 

"As cooperation and trade grow through agreements like RCEP and ASEAN and as Asian headquartered corporations expand regionally and globally, we believe an association built in Asia for the Asian talent mobility community and wholly focused on advancing that community is necessary," stated Sean Collins, ATMA Board Chair. "ATMA is a not-for-profit and relies on the support and active participation of members and sponsors. As a Foundation Partner, ECA extends its deep investment and involvement in ASIA and highlights a strong commitment to the Talent Mobility community here."

“ECA has been a leader in the global mobility industry for over half a century and has a long-standing presence in Asia. We are honoured to be joining ATMA as a Foundation Partner and are excited to help advance Talent Mobility in the region.," says Lee Quane, Regional Director for Asia at ECA International. "The movement of people into and within Asia will be critical for the continued social and economic development of the region and we look forward to supporting the work of ATMA."

About:

Asia Talent Mobility Alliance (ATMA) is dedicated to empowering the talent mobility industry in Asia. It is the first not-for-profit mobility organization developed in Asia specifically for Asian and Asian headquartered companies. Members include HR, Talent Acquisition, and Global Mobility teams, as well as those in related fields that provide the support and structure to position employees wherever needed. ATMA advances its mission through services and programs that support members' communication, education, community, and advocacy.

For more information, please visit: https://asiatma.com

Media Contact: Sharon Michnay, Relo Network Asia, +1.312.521.0871 sharon.michnay@relonetworkasia.com.

ECA International is the market-leading provider of knowledge, information and technology that enable businesses to manage their international mobility programmes. Partnering with thousands of clients globally, we provide a fully integrated suite of quality data, specialist software, consultancy and training. Our unparalleled insights guide clients as they mobilise their most valuable resource: people. We make the complex world of international mobility simple, providing clients with the expertise and support they need to make the right decisions - every time.

Mobility solutions for a world that’s constantly moving.

For more information, please visit: www.eca-international.com

Media Contact: Jenny Chiang, ECA International
jenny.chiang@eca-international.com

The government of Thailand has recently passed a new bill that allows employees to work from home.

This bill aims to promote flexible work arrangements and modernize the country's workforce. With the increasing trend of remote work globally, Thailand has taken a step forward to provide a legal framework for employees to work from the comfort of their homes.

The new bill requires employers to provide the necessary equipment and technology for employees to perform their job duties effectively. It also ensures that employees working from home receive the same benefits and protections as those working in a traditional office setting. The bill also establishes telecommuting guidelines and outlines employees' and employers' rights and responsibilities.

The bill's passage is in line with the government's commitment to promoting digitalization and modernization in the country. It is expected to encourage more businesses to adopt remote work policies. Adopting the Work-from-Home bill in Thailand marks a significant milestone in formalizing this workforce category.

You can read more on the ASEAN Briefing.

Top Notes from “A Corporate HR Perspective on Work-From-Anywhere” Webinar

• Asian companies are starting to see mobility in a more strategic direction rather than just a transactional one.
• There is more than just getting employees to the US and back, there is a shift to focusing on mobility for movement across and within Asia.
• Next year, Asia will account for 75% of global economic growth.
• There is a lower demand for work from home in Asia compared to the rest of the world.
• Success in work from home relied upon a group of employees who have worked together for years and had long-standing relationships and company cultural knowledge.
• Hybrid work is here to stay, even if remote work is not.
• Hybrid and flexible work arrangements are more viable than virtual assignments. Technology makes it possible, but an assignment isn’t just about getting work done.

Get more insights, watch the recording:

Our gratitude to Daniel Wan, Shumin Yeo and Avrom Goldberg for the great conversation.

Shumin Yeo | Singapore

Senior Manager, Global Mobility

Micron Technology

Micron has over 40 offices across Asia and globally.

On November 24, Shumin will join panelist Daniel Wan of Atotech and moderator Avrom Goldberg of Weichert Workforce Mobility for an open discussion on managing talent mobility across Asia in a remote work environment.  

Based in Singapore, Shumin leads the global mobility function worldwide for Micron. Shumin and her team provide strategic partnership with business leaders to deliver best in-class People solutions and exceptional Talent experience with the aim for attracting top and diverse Talent to Micron, living core Micron values and enabling Micron’s vision.

In addition: Shumin is also part of the Steering Committee for the Micron Women’s Leadership Network’s Singapore chapter (MWLN) which aims to promote developmental opportunities for everyone at Micron. The MWLN is a voluntary, employee-led resource group to foster an inclusive workplace for Micron’s women team members and allies. In November 2021, this group was recognized with the Singapore Human Resources Excellence Award for Excellence in Women Empowerment Strategy. Shumin has been recognized as 1 of the Top 250 Global Mobility Professionals in the world in a worldwide poll. She was recognized in April this year by the Forum for Expatriate Management in the Americas with the award for Rising Star in Mobility.

We are grateful for Shumin's time on this webinar as well as her overall dedication and work as a member of the ATMA Launch Committee.

November 24 09:00 HKT | Asia Talent Mobility in a Remote Work / Work from Anywhere Environment

Topics of discussion will include:

• What is the current status of COVID induced changes to the way we work, deploy talent and travel for business in Asia? How are these likely to translate into the ‘post-COVID’ era which the Asia region has yet to emerge into, fully? Are Virtual Assignments really a viable form of Talent Mobility?
• What are likely to be the priorities in APAC for the corporate talent mobility agenda through 2023?

Click here to register to attend or receive a recording. 

Daniel Wan | Hong Kong

Vice President, Worldwide Human Resources

Atotech - an MKS Brand

Atotech Group has a team of 4,000 experts in over 40 countries.

On November 24th, Daniel will join panelist Shumin Yeo of Micron and moderator Avrom Goldberg for an open discussion on managing talent mobility across Asia in a remote work environment.

Daniel has 30 years of international HR management experience.  He has served as Senior Vice President, Global Human Resources at Rotam, a Taiwan-listed agrochemical company. Other previous appointments include Group HR Director for AZ Electronic Materials, Senior Director – Corp Learning & Organization Development for Avery Dennison, and APAC HR Manager – Networking, Internet & Communications for Intel. Daniel began his career in 1989 as a Consultant in the field of Organizational Development and Human Resources.  Based in Hong Kong, Daniel is responsible for formulating and driving strategic HR initiatives and advancing the people priorities that support Atotech Group’s business.

We are grateful to have Daniel's time and talents for the next ATMA webinar. 

November 24 09:00 HKT | Asia Talent Mobility in a Remote Work / Work from Anywhere Environment

Topics of discussion will include:

• What are the key current and near-term challenges for talent attraction, development and retention in Asia?
• What role does mobility play, and should mobility play, in advancing corporate talent agendas worldwide? Are there any material differences in approach required in Asia?

Click here to register to attend or receive a recording.  

ASIA TALENT MOBILITY ALLIANCE WELCOMES GRAEBEL COMPANIES, A LEADING GLOBAL RELOCATION MANAGEMENT COMPANY, AS A FOUNDATION PARTNER

Foundation Partners play a fundamental role in the development of Talent Mobility in Asia and the formation of ATMA's supportive programs and services for the industry across the region

Hong Kong, October 11, 2022 - Asia Talent Mobility Alliance (ATMA), a not-for-profit organization dedicated to enhancing the innovation and development of the talent mobility industry of Asia, today announced that Graebel Companies, has been named an ATMA Foundation Partner. Graebel is a leading provider of global talent and workplace mobility solutions for some of the world’s most recognizable brands and their employees in 165 countries.

Foundation Partners provide substantial financial, talent and knowledge resources to help fulfil the vision and mission of ATMA. Unlike a typical sponsorship, becoming a Foundation Partner involves a deep partnership and leadership role in developing ATMA and helping the alliance reach its goals.  Invitations were extended to companies with a demonstrated dedication to the professionalism and advancement of the talent mobility industry in Asia. 

"As cooperation and trade grow through agreements like RCEP and ASEAN and as companies headquartered in Asia expand regionally and globally, we believe the time is right for an association built in Asia for the Asian talent mobility community, one that is wholly focused on advancing that community," stated Sean Collins, interim Board Chair. "ATMA relies on the support and active participation of member patrons and sponsors. As the only relocation management company serving as a Foundation Partner, we look forward to Graebel’s leadership in helping us to foster a dynamic, thriving talent mobility community in Asia."

“Asia represents 39 percent of global GDP and is home to several of the world’s fastest growing economies – a diverse, dynamic region where Graebel has supported mobility clients and their employees for many years,” said Akhbar Hameed, GMS-T, Graebel’s Singapore-based Asia-Pacific managing director. “By becoming an ATMA Foundation Partner, we can help create exceptional experiences for companies served by the industry, their mobile employees, the value chain of suppliers and partners, and the talented mobility professionals who call Asia home.”

About:

Asia Talent Mobility Alliance (ATMA) is dedicated to empowering the talent mobility industry in Asia. It is the first not-for-profit mobility organization developed in Asia specifically for Asian and Asian headquartered companies. Members include HR, Talent Acquisition, and Global Mobility teams, as well as those in related fields that provide the support and structure to position employees wherever needed. ATMA advances its mission through services and programs that support members' communication, education, community, and advocacy.

For more information, please visit: https://asiatma.com

Media Contact: Sharon Michnay, Relo Network Asia, +1.312.521.0871 sharon.michnay@relonetworkasia.com.

Graebel Companies, Inc. is a leading provider of global talent and workplace mobility solutions for some of the most recognizable brands in the world and their employees in 165 countries. Since its founding in 1950, Graebel has innovated and grown to deliver excellent relocation service and results for clients, all while remaining family-owned and focused on people-first mobility. With custom technology solutions, Graebel develops and implements mobility strategies that help companies attract and retain talent; respond faster to global market trends; maximize return on mobility programs; and create exceptional experiences that make global talent mobility more humane and as seamless as possible. As a full-service relocation management company (RMC), Graebel addresses every part of the mobility lifecycle for employers and employees, including services for departure and move management, destination, settling-in and ongoing assignments. For more information, visit Graebel.com. Here’s to the world ahead®.

Media Contact: Paul Raab, Linhart PR, praab@linhartpr.com

As Asian countries look to attract new residents, complications arise from confusion over employers' impact.

Working from home during the pandemic developed from a way to get business done when going to the office wasn't an option into a lifestyle with various interpretations. Employees took a "work from home" and turned it into "work from anywhere." Anywhere, in this case, could be a different, larger home in the same city, a different city inside the same country, or anywhere in the world. Governments had been lenient over the highly-impacted years but started pulling back permissions and stopped looking the other way as borders began opening.

This article from the ASEAN Briefing highlights several new opportunities for individuals looking to work from home in another country. Starting 1 October, Malaysia will begin offering its De Rantau Digital Nomad visa; offering stays up to 12 months. Foreign professionals who want to work from Thailand and make at least US$80,000 can receive up to a 10-year visa for themselves and family. Indonesia is also considering a five-year digital nomad visa.

The article highlights the requirements for the employee, but identifying any employer requirements is more challenging. A thorough review of Malaysia's De Rantau website is heavy on the qualifications for the digital nomad visa but light on the obligations for both the employer and employee. 

Will recipients of digital nomad visas and other like-programs establish a tax presence for themselves or their employers? What is the impact on social, health and welfare programs in the home or host location? 

From the employer's perspective, should a Singapore salary based upon a high-cost location be paid on remote work completed in a lower-cost area such as Indonesia? The situation may be more straightforward for contract workers, although other questions remain relevant, including questions regarding data security of the network in the new location

Countries' invitations to employees to participate in these cross-border working arrangements seem to come faster than other stakeholders in the situation can react. Domestically, governmental tax and social security laws must be developed or clarified in conjunction with new types of nomad visas. As a result, employers may be hesitant to knowingly engage in the program without it, putting a dent in what otherwise could be a mutually positive situation. In the interim, Human Resources and Talent Mobility teams need to investigate their company's appetite for risk vs. reward in this area. 

Recent months have been challenging enough with the present work-from-home culture. Without clear rules regarding how to be locally compliant with cross-border remote work, companies will need to implement internal policies that reflect their capabilities as employers and promote those to their employees.

The Asia Talent Mobility Alliance is a growing community of professionals from all areas of the industry.  

The strength and success of an alliance that includes a wide variety of companies across a region the size of Asia relies on membership with diverse backgrounds, unique perspectives, and different locations.  

Our Launch Committee members mirror that ideal and, while standing firmly behind ATMA’s mission, vision and pillars, find personal meaning in each.  We asked them to share their individual views and to permit us to publish their profiles in this series.