The competition gets even more intense
With the credit crunch in full swing, many US and UK based finance professionals are heading to Singapore's shores.
This mass exodus of 'talented' foreigners into sunny Singapore to escape or as a result of the mass culling in New York and London looks set to continue at least for the next few months.
With this exponential arrival of skilled migrants, there will be new opportunites to be uncovered but yet stiffer competition to be faced.
Local Singaporeans will once again, as usual, have to prove their worth in this rising tide of skilled foreign talents. Hopefully, the quality of our people will be enhanced through even tougher competition.
3 comments:
I'm not too sure whether the quality of Singaporeans will be lifted from the influx of foreign talent. For most part, they're unlikely to be trained in foreign companies.. the locals are merely roped in to fill positions at the lower rungs of the ladder.
Maybe I'm wrong but it does seem the case when I left.
I've spoken to a trainer who's now based in HK. In his opinion, HK and S'pore are not hit that hard by the credit crunch because the impact will descend only after Olympics, which is uncomfortably near...
Your thoughts?
Hi CK,
I was hoping that the increased competition would raise the bar for locals. I was fortunate enough to join a foreign company and it was a great learning experience working alongside my foreign colleagues. Their perspectives towards life, work and challenges are worth emulating.
It is true that Hong Kong and Singapore remain relatively unscathed by the recent crisis. I do think however that Asia will be affected at some point in time though the transmission mechanism (of a slowdown in US and Europe) is not as strong as before due to the huge reserves built up since the last Asian crisis.
Hope that what you said will turn out to be correct and that Singapore and HK have indeed delever themselves from a mainly American tied economy.
Well, I'm a pessimist. I get the feeling that the axe is about to fall....
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