The Global Talent Crunch in Asia
ChapmanCG Managing Director Finian Toh was recently called upon to provide commentary on the global talent crunch phenomenon on a Singaporean current affairs TV program, Focus 焦点.
As economies around the world recover from the COVID-19 pandemic, the demand for global talent has intensified as organisations are trying to grow as quickly as possible. This talent shortage is worsened by a “hangover” from border closures that has brought about a slowdown of talent flow between countries, especially in Asia. As a result, organisations are clinging on even harder to their existing employees.
As part of the country’s strategy to enhance its position as a global hub for talent, Singapore has unveiled the Overseas Networks and Expertise (ONE) Pass. The ONE pass is aimed at top talent in business, arts and culture, sports, science and technology, and academia and research.
At ChapmanCG we are observing an increased tendency from candidates in APAC to consider new career paths as countries around them are ramping up their economic activity. The ONE pass allows its holders in Singapore to simultaneously start, operate and work for multiple companies at any one time, contributing to this growing trend.
See the full episode in Mandarin here, Finian shares his thoughts at 1:05.