23 11 月, 2022

Job Platform Monster Transforms to an End-to-end Talent Management Platform; Reinvents Itself as foundit

SINGAPORE, Nov 23, 2022 - (ACN Newswire via SEAPRWire.com) - Monster.com, leading global job search portal, today announced a significant milestone in its journey as it transforms to a full-fledged talent platform. Starting today, Monster will be known as 'foundit' with a new logo and vision, ushering in a new revolution in the job market. Left to Right: Sekhar Garisa, CEO- foundit.in (previously Monster), Ajit Isaac, Non-Executive Chairman - Quess Corp and foundit.in, and investor Mohandas Pai unveil Monster's new identity as 'foundit' in Asia Pacific and the Middle EastSynonymous with recruitment, Monster has been serving more than 70 million job seekers and 10,000 customers spread across 18 countries. As the Company now transforms itself to an end-to-end talent platform, it will offer comprehensive solutions to recruiters and highly personalised and contextual services to job seekers across Asia Pacific and the Middle East. The transition is in line with the company's mission towards connecting the right talent with the right opportunities. Speaking at the new brand unveiling event, Sekhar Garisa, CEO, foundit (previously Monster) said, "Technology is leading disruption across sectors and Talent Acquisition is no exception. The pandemic has fundamentally changed the way we work and the way we hire. We have been privileged to witness the talent acquisition landscape evolve over the last three decades, giving us an unparalleled depth of insights into recruitment. The platform of the future needs to cater to a highly dynamic job market, skill-based hiring & changing expectations from career. We are excited to unveil a new direction for Monster from simply facilitating job and candidate discovery to enabling significantly better talent management outcomes."Commenting on foundit's role in realising its parent Quess Corp's future-forward strategy, Mr. Ajit Isaac, Founder and Non-Executive Chairman of Quess Corp and foundit, added, "Over the last 15 years, Quess has always been known for its service led offerings that have won the confidence of its associates and customers alike. As an institution, steadfast on our commitment to formalise jobs, we have been focusing on building a product-led portfolio that can help democratise access to formal employment across White, Blue and Grey collar workers. We acquired Monster APAC & ME with a vision to transform white-collar talent acquisition. Over the last couple of years, organisations experienced everything from the Great Resignation and the Great Regret leading to mass hiring at an unprecedented pace. But now as the market settles, hiring is going to be a lot sharper, focused and skill based. Such precision can only be achieved through the combination of human ingenuity and technology, and this is what we have to offer our recruiters and job seekers through foundit."In 2018, Quess Corp acquired Monster Worldwide's APAC & ME businesses as a strategic investment to strengthen its HR services portfolio, and has been operating in Singapore, Malaysia, Philippines, Hong Kong, Vietnam, Thailand, Indonesia, India, UAE and Saudi Arabia. In 2021 Monster raised USD 18 Million in a funding round led by investors Akash Bhanshali of Volrado Venture Partners and Mohandas Pai of Meridian Investments to fuel its product led offerings and market expansion. As part of its brand evolution, foundit is placing renewed focus on the users of the platform to bring forward the perfect career experience. By leveraging disruptive technology such as AI and ML for precision hiring to superior UI, the company aims to offer recruitment solutions unrivalled by any other player in the market. One of the key features that job seekers can look forward to is personalised job discovery. With foundit's customised search results feature, candidates will receive results and recommendations that are curated to their educational background, employment experience & validated skills. Other features include community lead mentorship marketplace, skills validation through assessments, mobile first UI, personalised recommendations, and self enhancement tools like upskilling courses. As the market leader in offering recruitment solutions to the best in business, foundit is transforming into a platform that reflects and adapts to the diversity of the SEA job market. For recruiters, it will offer the richest data set for each candidate along with insights & analytics that will make the process efficient as well as customized for each role requirements. The new interface and features allow for seamless and smart interaction between recruiters and candidates. About foundit in APAC & the Middle East foundit, formerly Monster, is a leading talent platform offering comprehensive employment solutions to recruiters and job seekers across APAC & ME. Since its inception, the company has been assisting over 70 million registered users to find jobs, upskill, and connect with the right opportunities across 18 countries. Over the last two decades, the company has been a catalyst in the world of recruitment solutions with advanced technology, seeking to efficiently bridge the talent gap across industry verticals, experience levels, and geographies. Today, foundit is committed to enabling and connecting the right talent with the right opportunities by harnessing the power of deep-tech to sharpen hyper-personalised job searches, and precision hiring. foundit strongly believes that a job title doesn't define one's potential and leverages technology to dig deeper to curate opportunities central to the needs, aspirations, and dreams of each user. To learn more, about foundit in APAC & Gulf, visit: www.foundit.sg | www.foundit.my | www.foundit.id | www.foundit.hk | www.foundit.com.ph | www.founditgulf.com | www.foundit.in Contact:Neha Nayyar: neha.nayyar@monsterindia.com Namrata Sharma: namrata.sharma@adfactorspr.com +65- 81383034 Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

16 6 月, 2022

Legend Capital Increases Carbon Neutrality Investments: Portfolio Company Talent New Energy Completes A++ Financing Round with Several Hundred Million RMB

HONG KONG, Jun 16, 2022 - (ACN Newswire via SEAPRWire.com) - Legend Capital's portfolio company Talent New Energy, a new Chinese powerhouse in the solid-state battery industry, recently announced the completion of its Series A++ financing round with several hundred million RMB. Legend Capital initially invested in Talent New Energy by joining the Pre-A financing round and continued to support the company's development by following up this Series A++ financing round.With the improved battery technology and continuous high oil prices, the penetration rate of new energy vehicles is rising. The penetration rate of new energy vehicles in China reached 25.3% in April, and according to the industry forecasts, it will increase to 35% by the end of the year. Under the global background of carbon peaking and carbon neutrality, the wind power, photovoltaic and energy storage industry are also ushering in a golden era, gradually replacing the traditional fossil energy. With the technical advantages of high safety and high specific energy, it is widely believed in the industry that solid-state batteries will become the next trillion-level super track and the ultimate solution for battery technology.Technology innovation is the core path to support the realization of carbon neutrality. With the acceleration of vehicle electrification, applications such as energy storage have opened up a new trillion-level market. Legend Capital actively explores suitable investment opportunities in more advanced lithium battery technologies. As a brand-new technology solution, new energy solid-state batteries have been deeply explored by many giants and startups in China and around the world. With nearly 20 years of international and domestic solid-state battery R&D technology accumulation, the Talent New Energy team has determined the oxide technology route and the gradual development path from mixed solid-liquid to all-solid-state lithium battery since the establishment of the company in 2018.Legend Capital stated: "under the leadership of the founder Dr. GAO Xiang, the Talent New Energy team has been conducting R&D with the goal of industrialization, not only achieving a comprehensive breakthrough in product performance but also making Talent New Energy the leading semi-solid-state battery company in the market in terms of mass production capability. After the completion of the first investment in Talent New Energy last year, Legend Capital has continued to support the company's development by investing in each subsequent round of Talent New Energy's financing, helping the company become a leader in the solid-state battery industry in various aspects such as capital and industrial resources." It is reported that Talent New Energy's first semi-solid-state power battery production line in Chongqing will be put into production in October this year. Talent New Energy said that after this round of financing, the company would accelerate the integration of technological resources to set up an advanced energy materials research institute and a new energy technology industrialization joint R&D center in Beijing. The company is accelerating the mass production and commercialization of semi-solid-state lithium batteries and striving to launch the all-solid-state lithium-ion battery at the end of this year, providing advanced and reliable energy solutions to the new energy vehicle industry and electrochemical energy storage industry and providing "energy blocks" for the construction of new infrastructure for high-efficiency cross-space-time energy storage in the future human society. Under the goals of carbon peaking and carbon neutrality, Legend Capital's investments focus on energy system decarbonization, vehicle electrification/intelligence and synthetic biology. Energy decarbonization includes photovoltaics, wind power, smart grids; vehicle electrification/intelligence includes lithium battery vehicles, hydrogen fuel cell vehicles, battery recycling and others.Legend Capital has long been optimistic about the electrification, intelligence, and automation of new energy vehicles. It has invested in numerous enterprises in automation equipment, lithium batteries and material in the past 10 years, many of which were went public successfully, such as Wuxi Lead Intelligent (300450.SZ), CNGR Advanced Material (300919.SZ), Putailai New Energy (603659.SH), Hymson Laser (688559.SH), Colibri Technologies (002957.SZ). Legend Capital is also one of the early investors of CATL (300750.SZ). Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

2 6 月, 2022

The 20th CIEP: Serving Scientific and Technological Innovation and Promoting Exchange

SHENZHEN, CHINA, Jun 1, 2022 - (ACN Newswire via SEAPRWire.com) - The 20th Conference on International Exchange of Professionals (CIEP 2022) opened online May 26, kicking-off at the Shenzhen Forum with the theme "Accelerate the Building of Talent Centers and Global Innovation Hubs".Following the concept of innovation as its primary resource, and establishing a strategy of innovation-led development, China is creating a favorable atmosphere of 'Pooling global talent and innovation, to best use', said Wang Zhigang, China's Minister of Science and Technology, in the opening keynote speech.China upholds globalization, and has established scientific and technological cooperation with more than 160 countries and regions worldwide, while participating in more than 200 international organizations and multilateral agreements, Wang said.Committed to further opening up its science and technology sector with a broader vision and more pragmatic measures, China will continue building international scientific programs and facilitating communication on innovative strategies.China is actively building an international science and technology platform, joining hands with global researchers, and promoting the exchange of global talent in all fields, and at all levels, said Wang.CIEP 2022 continues to promote mutually beneficial international scientific and technological cooperation and facilitate the exchange of worldwide talent, providing fertile grounds for collaboration and a stage for innovative talent from around the world.Already an exhibition and trade fair for international scientific and technological achievement and international talent exchange, CIEP is also an important platform and well-known brand for gathering global talent. This year's CIEP has set up online services including a "Virtual Exhibition Hall", "Project Cooperation" and "Online Recruiting".CIEP aims to provide a comprehensive platform for staging scientific and technologic activities, forums, discussions and international matchmaking as an online exchange for globally innovative scientific talent.Email: wangchan@ciep.gov.cnWebsite: https://www.ciep.gov.cn/ Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

20 10 月, 2021

Good HR systems key to managing human capital, which is S’pore’s ‘most precious resource’: Tan See Leng

SINGAPORE - Human resources (HR) is a sunrise industry, and management of human capital is important because it is Singapore's "most precious resource", said Manpower Minister Tan See Leng on Wednesday (Oct 20). A well-managed HR structure - adopting a fair and meritocratic system of recruitment, onboarding, career progression and mentorship - will help companies ensure the sustainability of their efforts and their competitive advantage, he added. Dr Tan was speaking to reporters on the 26th Jobs Situation Report via teleconferencing after a visit to Sentosa's Tanjong Beach Club, a food and beverage establishment under the Lo & Behold Group. The report highlighted the importance of HR transformation in supporting businesses to manage the impact of Covid-19 and drive workforce transformation for recovery and growth. The Ministry of Manpower (MOM), which issued the report, noted that the HR community has played a central role in helping businesses navigate the challenges of Covid-19, from managing manpower disruptions and the changing nature of workplaces, to engaging staff and looking out for their mental well-being. "They have also implemented fair and responsible cost-saving measures to save jobs," said MOM. "As many businesses accelerated their pace of digitalisation and transformation amid the pandemic, HR's ability to drive strategic workforce planning, redesign jobs and develop talent will be pivotal in helping businesses and their workers to succeed." The ministry urged HR professionals to take up the Institute for Human Resource Professionals' (IHRP) certification, which is a national certification framework that recognises the experience, skills and competencies of HR practitioners in Singapore. More than 4,500 aspiring and existing HR professionals are currently IHRP-certified, MOM noted. IHRP offers resources for companies to strengthen their human capital practices and support business transformation. These include the Human Capital Diagnostic Tool (HCDT), which evaluates businesses' strengths and gaps within their human capital processes, and identifies solutions. The HCDT Navigator, officially launched last month (September), is a free-to-use self-help version that can be completed within 30 minutes. The Human Resource Jobs Transformation Map was rolled out in December last year to identify key technology drivers and analyse the impact on HR work over the next five years. Dr Tan See Leng and Lo & Behold founder Wee Teng Wen holding a virtual media conference at Tanjong Beach Club in Sentosa, on Oct 20. ST PHOTO: GAVIN FOO More on this topic Related Story Employers with good HR practices should be recognised, get competitive advantage: Chee Hong Tat Related Story New initiative to create more training, job opportunities in HR for persons with disabilities New technologies such as artificial intelligence, robotics and the Internet of Things will redefine business models and jobs, said MOM. For the HR sector, new and emerging roles such as "people strategist" and "head of talent enablement" will be created to better design and deliver talent solutions, it added. Some existing jobs will need to evolve and expand to drive higher value. For instance, an HR payroll administrator would need to manage automated processes and perform payroll analysis, while a traditional HR business partner would need to think about long-term workforce planning and use data-driven insights to customise talent management solutions. Dr Tan added that in times like a pandemic, an enlightened, nimble and proactive HR system within the company, led by managers who are very forward looking, will be even more essential to protect the workforce. He lauded "exemplary employers" who are Human Capital Partners - meaning they have implemented progressive workplace practices and invested in human capital. (From left) Lo & Behold founder Wee Teng Wen, Tanjong Beach Club Senior Assistant Guest Relations Manager Shamini Krishnan and Dr Tan See Leng at the club in Sentosa, on Oct 20. ST PHOTO: GAVIN FOO One such employer is the Lo & Behold Group, which built an integrated HR platform to automate tasks such as employee time-off management, among other functions. By digitalising, the group's HR team reduced time spent on administrative tasks by 40 per cent and saved 30 man-hours per HR staff each month, said MOM. This allows them to focus on higher value-added work such as strategic workforce planning and talent management. Dr Tan said he met a senior assistant manager with the Lo & Behold Group on Wednesday who has been able to pursue a degree in psychology while working, thanks to the company's flexible working arrangements. "She is one example of how progressive workplace practices can help attract and retain local talent," he added. There are about 600 recognised Human Capital Partners employing more than 250,000 workers in total. Of these, more than 80 per cent are Singaporeans and permanent residents. More on this topic Related Story F&B firms which managed manpower crunch well cited in HR playbook for sector Related Story Lack of local talent a big challenge in building workforce for S'pore firms: Survey

8 10 月, 2021

Cielo Survey Finds That 50% of HR and Talent Acquisition Professionals in APAC Face Challenges in Quality of Hire

SINGAPORE, Oct 8, 2021 - (ACN Newswire via SEAPRWire.com) - Cielo, the world's leading strategic Recruitment Process Outsourcing (RPO) provider, has found that talent acquisition professionals in the APAC region are challenged with factors that are distinct from general trends faced by organisations globally.The global survey, conducted by Cielo, consisted of an online survey of over 300 senior Talent Acquisition (TA) and HR leaders, plus over twenty in-depth interviews with key senior executives from multi-national companies across a range of industries. With digitisation efforts undertaken by many industries globally, the requirement for talent equipped with digital skills is also increasing. Digital skills and experience remain the most highly in-demand and least available in the global and regional marketplace. Furthermore, talent acquisition professionals today are increasingly challenged with attracting a future-proof talent pool and ensure new hires meet organisational objectives.The survey found that globally, a large majority (73.6%) of respondents agree that their business faces a skills shortage, and 78.2% believe that skills shortages and gaps are among the three most significant issues they will face in the near future. However, APAC diverges from this global trend, identifying quality of hire as the main challenge at 46.2% - skills shortage ranks second, jointly with time to hire at 35.4%.Furthermore, this challenge is exacerbated for APAC respondents that do not leverage RPO models compared to those that do (26.7%). However, APAC also sees many of its organisations willing to implement new recruitment technologies; at 26.2%, this figure diverges greatly from the global average of 8.2%."Skills-based talent acquisition has the potential to address many of APAC's unique concerns, as well as those which the region shares with talent acquisition teams worldwide. In the near future, I believe that professionals are less likely to be concerned with headcount and more concerned with whether a team has the requisite experience to take on their tasks," said Kumar Bhaya, Cielo's VP of Client Solutions for APAC."That being said, instead of the focus being solely on identifying technical skills gaps in candidates, we should also be looking at their soft skills. These are more in demand in the changing landscape of business as they take longer to develop in a person. Shifting our focus to softer skills such as being able to positively cope with change and to be an inspiring leader to a remote team enables talent acquisition professionals to unshackle themselves from traditional limitations, but more importantly, allows them to access a far wider talent pool," Bhaya adds.The survey results also confirm that those who do not leverage RPO face more issues with quality of hire (39.4%), as opposed to the professionals who do use RPO (27.2%) for its technological benefits and recruiter expertise that result in better quality of hires. Experts in the Asia-Pacific (APAC) region highlighted unique factors that were distinct from the general trends that this report identifies. Specifically, concerns included international skills shortages, breaking free of regional roles, and increasing attention to diversity, equity, inclusion and belonging (DEI&B)."In APAC there are definitely [skill] shortages, which is why we need to look at relocating people or look at other industries," said Mayur Chaturvedi, Regional Director Rewards, Talent Management and HRBP of Zimmer Biomet. "For example, in Southeast Asia, the developed countries have good talent availability, and there are no problems. But when you go to emerging or developing countries, talent supply is low. Leadership roles and niche skill roles, in particular, are hard to find."Across national borders, skills shortages can vary significantly. While Singapore and Malaysia host transient markets of available talent, Thailand, the Philippines, Vietnam, and Indonesia are markets where talent remains harder to find. The survey also found that particular pain points in these markets include hiring talent with leadership roles and niche skills; a challenge that may be eased through partnership with an RPO.DEI&B continues to be a significant focus in APAC. However, in relation to feedback from their global peers, TA professionals in APAC are generally less concerned with DEI&B. Just 24.6 percent of recruiters in Asia listed it as a top concern compared to 45.6 percent globally. Regardless, APAC respondents who used an RPO were more committed to diversity and inclusion efforts (53.3%) than those who were not using an RPO (17.4%). Organisations and leadership teams are also taking this issue on to ensure they have the right perspectives for further internationalisation.The whitepaper reports that the modern-day workforce is undergoing rapid, unexpected change, and organisations will be well-served by investing in agility and flexibility, using skills-based workforce planning as a lens to understand business needs and hiring. By considering the unique soft skill needs of a given team or business, TA professionals can focus on hiring based on the needs of their organisation and market, recruiting the right talent that is fit for the future.To read the full Cielo whitepaper on the 'Beyond the Skills Shortage', please visit: https://www.cielotalent.com/insights/skills-based-workforce-planning-the-future-for-talent-acquisition/Notes to the editors:The Future of Talent Acquisition research was commissioned by Cielo to better understand talent acquisition (TA) approaches by international businesses.The comprehensive survey, consisting of 26 questions, engaged businesses across multiple industries in the UK, Europe and the Asia Pacific. 308 leading businesses were surveyed, with fieldwork conducted across June and July 2021. In addition, 21 in-depth interviews were conducted with HR and TA experts.About CieloCielo is the world's leading strategic Recruitment Process Outsourcing (RPO) partner and industry innovator delivering RPO, Total Talent Acquisition, Consulting, and Executive Search services in over 100 countries. We design comprehensive, people-centric solutions and leverage Cielo TalentCloud - our agile technology platform featuring CRM, AI, automation, and analytics capabilities - to help our clients find, attract, and hire the specific talent to move their businesses forward. To learn more, visit www.cielotalent.com. Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)

19 4 月, 2021

Sanofi Renews Partnership with Cielo to Strengthen its Talent Acquisition Strategy in Asia

SINGAPORE, Apr 19, 2021 - (ACN Newswire via SEAPRWire.com) - Cielo, the world's leading Recruitment Process Outsourcing (RPO) provider, has renewed its partnership with Sanofi, a global biopharmaceutical company, to help them hire the best talent in Asia.Cielo has been working with Sanofi in Asia since 2018 to provide cutting-edge talent sourcing and recruiting strategies in the region, helping Sanofi transform its approach to talent acquisition. The partnership covers key Asian markets of Singapore, Malaysia, Indonesia, Thailand, Philippines, Hong Kong, Taiwan, Vietnam and Cambodia. Cielo is also Sanofi's RPO partner in the US and Latin America - a testament to our strategic approach and global offering."Life sciences leaders such as Sanofi are rapidly transforming their talent acquisition strategies. We are excited to renew our strategic partnership with Sanofi and continue to help them deliver on their commitment in offering innovative healthcare solutions to patients by providing in-demand talent in Asia," said Seb O'Connell, President of EMEA and APAC, Cielo. "We believe that the right talent is a key enabler for any organisation to unlock its true potential and achieve its business goals, and we are proud to support Sanofi."Speaking about the partnership, Andrea Paola Poggio, Head of Talent for Sanofi Asia said, "At Sanofi, our employees are key to our success, and we are always looking for talent who are willing to join us to drive our ambition in empowering lives of our patients. As one of the leading providers of RPO for life sciences and being agile and flexible to deliver at a fast speed, Cielo has enabled Sanofi to benefit from scalable talent acquisition solutions, and reduced time-to-hire; key elements to build a diverse & talented workforce with targeted capabilities for a rapidly changing context.""At Cielo, our teams are driven by an overarching purpose of providing superior experiences and outcomes to our clients and this relentless drive to challenge ourselves to do better fosters a strong sense of trust and mutual respect with our clients. Sanofi's renewed partnership is a validation of this trust and a testament to our Life Sciences domain expertise, commitment and value that we bring to customers," stated Kumar Bhaya, Vice President, Client Solutions APAC, Cielo Talent.About CieloCielo is the world's leading strategic Recruitment Process Outsourcing (RPO) partner and industry innovator delivering RPO, Total Talent Acquisition, Consulting and Executive Search services in 100+ countries. They design comprehensive, people-centric solutions and leverage Cielo TalentCloud - an award-winning technology suite featuring CRM, AI, automation and analytics capabilities - to help clients find, attract and hire the specific talent to move their businesses forward. To learn more, visit cielotalent.com.About SanofiSanofi is dedicated to supporting people through their health challenges. They are a global biopharmaceutical company focused on human health. They prevent illness with vaccines, provide innovative treatments to fight pain and ease suffering. They stand by the few who suffer from rare diseases and the millions with long-term chronic conditions. With more than 100,000 people in 100 countries, Sanofi is transforming scientific innovation into healthcare solutions around the globe. To learn more, visit www.sanofi.com Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)

29 11 月, 2020

Singapore firms keen to use new EDB Tech.Pass scheme to boost talent pool

SINGAPORE - When cyber protection company Acronis wanted to grow the team for its research and development centre here last year, it targeted locals. But when it could not hire enough with the required know-how, the Singapore-based firm tapped the Tech @ SG programme, which provides for more flexible requirements for foreign professionals to secure an Employment Pass (EP). The programme, jointly administered by the Singapore Economic Development Board (EDB) and Enterprise Singapore, endorses EP applications to the Manpower Ministry (MOM). Acronis is now eyeing another EDB initiative - the Tech.Pass - while hiring and training more locals. Unlike an EP, foreign professionals with the new work pass are free to choose who they work for. "We could definitely use Tech.Pass to recruit the best people and expand our engineering team - the new scheme provides certain flexibility to the holder, since it's not tied to one company," Acronis' co-founder and Technology President Stanislav Protassov told The Straits Times. Many tech companies here like Acronis say it has been difficult to secure enough top-tier talent to grow their Singapore workforce and boost capabilities. EDB says Tech.Pass, announced on Nov 12, is an attempt to address this manpower issue while simultaneously growing Singapore's tech ecosystem and creating opportunities for locals. The Tech.Pass is valid for two years and can be renewed once more for another two years. Holders of the pass can serve on the board of directors of a Singapore-based company or be a shareholder or investor in companies here. They can also start and operate a business. Applications for the Tech.Pass will open in January, with 500 passes available. Candidates must meet at least two of three criteria: • A last-drawn monthly salary of at least $20,000 in the past year; • At least five years of cumulative experience in a leading role in a tech firm with a valuation or market capitalisation of at least US$500 million ($669 million) or at least US$30 million funding and beyond; • At least five years of cumulative experience in a leading role in the development of a tech product that has at least 100,000 monthly active users or at least US$100 million in revenue. Senior director for information technology at recruitment agency Randstad Singapore Daljit Sall said the bar has been set high to ensure that Tech.Pass attracts only "serious movers and shakers" in the global tech industry. "This group of individuals should have a proven track record and the expertise to not just fill the talent gap, but also drive the industry forward," he added. Associate Professor Lawrence Loh from the National University of Singapore (NUS) Business School, said tech titans in the field of computer graphics cards - the chief executive officer of Advanced Micro Devices (AMD) Lisa Su and Nvidia's CEO Jensen Huang - would be the type of talents who would secure a Tech.Pass. "They reside in the United States now. If only they were to sink root in Singapore, we would have the world's best leaders in graphic cards," he added. More on this topic Related Story New work pass in Singapore for top-tier foreign tech professionals to launch in January Related Story Debrief: New Tech.Pass work pass scheme a response to stiff competition for global tech talent Developing talent Beyond filling up key roles in organisations, EDB said that Tech.Pass holders can also groom local tech professionals by taking up lecturing roles in institutes of higher learning, serve as a mentor or advisor to companies here, and conduct corporate training. Speaking at the Singapore Tech Forum on Nov 17, Prime Minister Lee Hsien Loong said while the country has a supportive environment for technology in terms of infrastructure, the key factor is talent. "We need more tech talent to grow the industry, and to tackle the urgent problems that we have and that tech can help us to solve," he added. Mr Chng Kai Fong, managing director of the EDB, said pass-holders who pursue entrepreneurship will also generate business spending locally and create jobs and opportunities for locals to learn. Responding to concerns that Tech.Pass may only attract talents from a few sources overseas, some industry watchers said safeguards are in place. "I'd expect the first 500 of eligible candidates to come from diverse backgrounds, countries and fields," said Dr Protassov, who has a PhD in physics and mathematics from Moscow Institute of Physics and Technology. "There will also likely be quotas in place to ensure the even distribution of the arriving foreign professionals, as is standard practice." Country director of Google Singapore Ben King said that the tech giant welcomes the introduction of Tech.Pass, "to support the growth of the tech industry in Singapore". More on this topic Related Story Singapore needs top tech talent to build world-class teams, says PM Lee Related Story Fears over foreign professionals: How best to put S'poreans first when it comes to jobs? Prof Loh said the people who apply for Tech.Pass should also be able to value-add to the organisations they work for in multiple ways. "These leaders should be able to take on a comprehensive suite of initiatives beyond innovation and investment - capability development of the local pipeline should be a key priority," he explained. EDB's Mr Chng said that schemes like Tech.Pass and Tech @ SG could facilitate the growth of tech companies here and serve to attract established tech talent to Singapore. "EDB will continue to conduct regular reviews and consultation with industry on talent programmes and work with partner agencies to meet evolving industry and talent needs," he said.

13 11 月, 2020

Debrief: New Tech.Pass work pass scheme a response to stiff competition for global tech talent

What's the story In a bid to raise its attractiveness to top-tier foreign tech talent, Singapore is launching a new work pass next year called Tech.Pass, which will be valid for two years and have the option to be renewed once for another two years. Pass holders can start and operate a business, serve on the board of directors of a Singapore-based company or be a shareholder or investor in companies here. They can also take up lecturing roles in institutes of higher learning, serve as a mentor or adviser to companies here, and conduct corporate training. Applications for it will start in January, and for a start, 500 places will be available when it is launched. Candidates for Tech.Pass must meet various criteria to show that they are high-level professionals in the tech industry. Renewal has stringent requirements too. The Economic Development Board will administer Tech.Pass, with the support of the Ministry of Manpower. Tech.Pass builds on the Tech@SG programme, which was introduced last year and which spells out more flexible requirements for foreign professionals to apply for an Employment Pass (EP) that applies to those with a fixed monthly salary of at least $4,500. Why it matters A global race for top tech talent is on, and like Singapore, many other countries have been trying to make their pitch for these individuals whose capital, networks and know-how will be valuable in helping them grow their tech industries and create jobs. With Tech.Pass, Singapore now ranks among countries like France, Malaysia, Thailand and Britain, which have all introduced special visas meant to woo international tech talent. Competition is stiff - Britain, for instance, saw a record number of applicants last month for its Tech Nation visa, despite the ongoing Covid-19 pandemic. And given the many options that tech professionals have, firms in the region are finding it difficult to get tech experts to lead their teams and projects. In a study released last year, recruitment consultancy Robert Walters found that in South-east Asia, close to 70 per cent of hiring managers took at least three months to fill an open tech position. Local firms are getting worried too - research by specialised recruiter Robert Half last year found that more than 90 per cent of Singaporean IT leaders were concerned Singapore does not have the IT talent readily available to build a Smart Nation-ready workforce. But with Tech.Pass, there is an attempt to make Singapore even more appealing to these people. While the EP requires the sponsorship of an employer, Tech.Pass will be tied to the individual. This gives flexibility to the professionals to decide what they want to do. What lies ahead Singapore's Internet economy - or business conducted online - is on track to reach US$22 billion (S$29.7 billion) by 2025, which makes it poised to be a large engine of growth for the country. But other countries in the region also have their eyes on the potential for growth that the tech sector has. Despite the disruptions from Covid-19, South-east Asia's Internet economy is expected to hit over US$300 billion by 2025. More on this topic Related Story Singapore's education and training sector must adapt to stay competitive globally: Chan Chun Sing Related Story Iswaran outlines Singapore's 3-pronged strategy to grow digital economy In order to fully realise the potential of tech, the Republic will need more movers and shakers to grow the industry here and create opportunities for its local workers. It has its work cut out for itself to meet the high demand from companies here for skill manpower. There is now a small window to act before these talents get scooped up by other locations, and Singapore's efforts now will decide if it gets to entrench itself as a tech hub. More on this topic Related Story Parliament: Short-term work passes can fill skills gap in disruptive industries while S'poreans are being trained, says Leon Perera Related Story Fears over foreign professionals: How best to put S'poreans first when it comes to jobs?

12 11 月, 2020

New work pass in Singapore for top-tier foreign tech professionals to launch in January

SINGAPORE - A new work pass will be launched next year for top-tier foreign professionals and experts looking to start businesses, lead corporate teams or teach here, in a bid to woo these people to Singapore and develop its high-potential tech ecosystem. The Economic Development Board announced plans on Thursday (Nov 12) to launch Tech.Pass, which is planned to put Singapore ahead in the global race to attract highly skilled technology professionals in fields such as e-commerce, artificial intelligence and cyber security. Tech.Pass will be valid for two years, with a one-time renewal for a subsequent two years that will depend on certain criteria. Applications for the pass will start in January 2021, with 500 places available upon launch. Having such experts in Singapore will not only allow them to bring their capital, networks and know-how to the country's tech ecosystem, but it will also create opportunities for Singaporeans too, said Minister for Trade and Industry Chan Chun Sing. "Tech.Pass will add to the critical mass of established tech talent in Singapore and create a flywheel effect to further strengthen our position as a leading tech hub for the region," said Mr Chan at the launch of Tech.Pass on Thursday at a dialogue with the European Chamber of Commerce. The tech sector is poised to be a large engine of growth for Singapore, and a study done by Temasek, Google and consultancy Bain & Company published on Tuesday found that the country's Internet economy - or business conducted online - is on track to reach US$22 billion (S$29.7 billion) by 2025. The same report noted that Singapore houses the highest number of headquarters for companies with a valuation over $1 billion among South-east Asian countries, including e-commerce platform Lazada and Internet platform Shopee owner Sea. In order to be eligible for Tech.Pass, candidates must meet two of the three criteria: a last drawn monthly salary of at least $20,000 in the past year, at least five years of cumulative experience in a leading role in a tech firm with a valuation or market capitalisation of at least US$500 million or at least US$30 million funding and beyond, or at least five years of cumulative experience in a leading role in the development of a tech product that has at least 100,000 monthly active users or at least US$100 million in revenue. With the work pass, these individuals can perform activities like starting and operating a business, serve on the board of directors of a Singapore-based company or be a shareholder or investor in companies here. They can also take up lecturing roles in institutes of higher learning, serve as a mentor or adviser to companies here, and conduct corporate training or workshops. For Tech.Pass to be renewed, pass holders will need to fulfil several requirements, which include having earned at least $240,000 in assessable income over the two years or demonstrating total annual business spending of at least $100,000. More on this topic Related Story Singapore's education and training sector must adapt to stay competitive globally: Chan Chun Sing Related Story Iswaran outlines Singapore's 3-pronged strategy to grow digital economy The EDB will be administering the applications of the pass, with the support of the Ministry of Manpower, said Mr Chan. Tech.Pass builds on the Tech @ SG programme, which spells out more flexible requirements for foreign professionals to apply for an Employment Pass (EP). The EP is for foreign professionals who have a job offer here, work in a managerial, executive or specialised job, earn a fixed monthly salary of at least $4,500 and have acceptable qualifications. Singapore is not alone in this quest to woo international top-tier talent, and Mr Chan noted on Thursday that many countries have their own schemes to compete for these people. He said in Parliament last year that countries like Thailand, China and France are already making their pitch for highly skilled technology professionals, and cited how both France and Thailand have special visa programmes to make it easier for technology talents to work in their countries. More on this topic Related Story Parliament: Short-term work passes can fill skills gap in disruptive industries while S'poreans are being trained, says Leon Perera Related Story Fears over foreign professionals: How best to put S'poreans first when it comes to jobs? He had warned then that Singapore would "almost certainly be left behind" if it did not attract such talent too. The EDB said in a statement on Thursday that both Tech.Pass and Tech @ SG allow fast-growing tech companies and established tech talent to enter Singapore and anchor themselves here, which is part of Singapore's multi-pronged approach to develop a strong base of technology companies and talent to ensure it remains globally competitive. "This will also create more opportunities for local tech talent to work in globally competitive teams alongside top tech talent from all over the world," it added.