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12 Reasons Why You Should Consider Working in Singapore

12 Reasons Why You Should Consider Working in Singapore

Nine out of 10 foreign workers are satisfied with working in Singapore, a recent governmental survey reports. Being ranked best for numerous criteria from best intellectual property protection laws to the easiest country to do business in, Singapore also receives a bunch of accolades for the overall quality of life, top education standards and efficient medical system, ranking the nation as the healthiest in the world. So, what exactly makes the City of Lions such an impeccable place to start your career or relocate your business? Here are just 12 reasons why you should consider doing it!

1. Singapore ranks second as the most globalized economy in the world

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    The Global Competitiveness Report 2014 – 2015 named Singapore as the world’s second prospering economy. By defining “competitiveness” as the set of institutions, policies and factors that determine the level of productivity of a country, the report claims to be the most authoritative assessment of the country’s prosperity and well-being. What does that mean for you and me? High wages, low unemployment rate, excellent work conditions and nourishing business development and investment climate.

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    2. Salaries are extremely lucrative

    As the economy is booming, Singapore companies are hungry to acquire overseas specialists, offering top salaries and lucrative benefit packages to attract highly-skilled workers and talents. With a median salary of 3.500$ per month, software engineers can earn up to 72.000$ annually, whereas general practitioners usually receive around 80.000$ per year, according to PayScale. Elementary school teachers earn around 34.000$ per year and working as a waitress part time will bring you around 1100$ per month.

    3. Progressive personal tax system

    Calculating and paying taxes in Singapore is extremely easy and usually takes around 30 seconds to submit your online tax return. If you already obtained a residence permit, your personal taxes in Singapore range from 0% if you earn less than S$ 22.000 per year to 20% for incomes above S$ 320,000. Non-residents are expected to pay a flat rate of 15% from all income gained in Singapore. In addition, all of your earnings gained overseas and brought to the country are not subjected to any taxes.

    4. Getting a work/residence permit is really easy…

    With a population of only five million, and dropping fertility rates, Singapore is highly interested in acquiring new residence and labor force to boost the country’s economy to soaring heights. If you already have a job offer secured, applying for a work permit would take only a few clicks on the governmental website and you will know the outcome within just one day. No lines, no paper bureaucracy and no huge list of supportive documents or blankly stated requirements. Their entire procedure is even simpler if you are a business owner wishing to relocate your business to Singapore, or a start-up entrepreneur wishing to develop your company within the island. You are likely to receive your work permit for a longer term, plus the renewal process is fast and simple. Residence permits are usually issued along with your work permit for the same period of time.

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    5. …And the same with permanent residence status

    If you have lived and worked in Singapore for over a year and enjoyed your experience, you can start considering applying for a permanent resident card. Again, the whole process can be done online without much hassle or paperwork involved. Among the factors of a successful outcome, expats name young age (below 50), educational background (degrees obtained in Singaporean universities will earn you extra points), the industry you work in (again extra points to those who are involved in scientific research and working with innovative technologies), and your ability to speak one of the four languages. The processing time does take up to six months.

    6. The adaptation process goes easy

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      As English in the main working language you won’t experience the dreaded language barrier. The local society is an absolute melting pot of Chinese, Malay, Indian and British cultures with 42% of population being foreigners. There is a huge amount of expat communities and meet-ups, restaurants serving awesome foods from all over the world, and imported goods you are used to buying back at home. As expats say, “Singaporeans are generally very comfortable with diversity and have been very welcoming to foreigners” with rare case of racism or religion discrimination occurring. There are numerous international and English schools available, along with pre-school daycare centers, so your kids won’t experience much troubles either when changing environments.

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      7. Top notch higher education

      If at any stage you feel like lacking relevant educational background or certain skills to get a promotion, you should consider getting a degree in one of the six Singapore universities. National University of Singapore currently ranks number one in Asia and 22nd in the world offering degrees in Arts, Law, Medicine, Computer Sciences, Public Policy and nearly any other profession in demand. Tuition fees for undergraduate programs range from S$ 28.600 to S$ 129,200 for medical degrees. However, all students (foreign or resident) can apply for governmental grants and tuition aid, cutting down the costs by 50%, as currently around 20% of government spendings go into education. If you are aiming at a top executive position, getting an MBA in Singapore will cost you S$ 58,000 full-time or part-time.

      8. It takes three days to open a business

      Being ranked #1 for the ease of doing businesses by World Bank consequently for seven (!!!) years, starting your business in Singapore is easy and fast indeed. The whole process is done online and your registration will be deemed completed within a few hours after you pay a registration fee of the S$65. Afterwards, you can either refer for further assistance to ACRA (Accounting and Corporate Regulatory Authority) offering you a huge selection of agencies and providers to handle all your business needs – from business start-up services to preparing all the documents for your annual returns.

      9. Singapore is rated #1 as the best labor force in the world

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        As your business grows and you feel it is time to expand, hiring new professional team won’t be much of a struggle. With expats and work migrants flooding the market, local labors are known for their effectiveness, strong work ethics and superb educational profiles. Filling in top executives and managerial positing will not be a problem either as the share of high-skilled professionals with relevant background rose from 27% in 2003 to 31% in 2013. Moreover, 25% of residents reported to have worked for the same company for 10 years, which means less personnel changes and headhunting.

        10. Low crime rates and zero corruption

        Currently ranked the 5th least corrupted country in the world, Singapore surpassed a long chain of reforms and law enforcement practices on the road to a bribe-free society. The Corrupt Practices Investigation Bureau has kept an eye on matters since 1952 and tries all cases according to strict Singapore laws with long-term jail sentences and huge fines up to S$ 100,000. Same goes towards any sort of crimes–even minor offenses are treated with extreme severity. Think: three months of jail and three hard cane strokes for painting graffiti on a war memorial. When living and working in Singapore you don’t need to worry about your belongings getting stolen, nor your life threatened. Besides, you don’t need to have any sort of “special connections” to do business and get through all the legal and bureaucratic procedures.

        11. You can become a millionaire in less than 10 years

        According to a recent report issued by Boston Consulting Group, over one half of wealthy Singaporeans accumulated the majority of their wealth in less than 10 years. That’s the quickest growing rate in the world. Now, Singapore boasts one of the highest millionaires’ density in the world with 8.8% of the population having assets over one million US dollars. The phenomenon exists due to the ease of doing businesses in Singapore, advantageous location with easy access to nearby booming markets of India, Indonesia and Malaysia and quick implementation of progressive new technologies.

        12. Absolute political stability

        Obviously, your business and you as an employee do not exist in a vacuum and are highly dependent on governmental policies and law-making. The Singaporean government is known for conducting open and fair policy towards constantly introducing new laws, tax relieves, and regulations to enhance the countries’ business environment even more. With the People Action’s Party forming the majority in Parliament since 1965, Singapore has a very stable and orderly government indeed.

        Featured photo credit: Financial District at Marina Bay…/William Cho via flickr.com

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        Elena Prokopets

        Elena is a passionate blogger who shares about lifestyle tips on Lifehack.

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        Last Updated on July 13, 2020

        15 Ways to Set Professional Goals (Examples Included)

        15 Ways to Set Professional Goals (Examples Included)

        It’s hard to describe the frustration you feel when your professional goals keep falling flat. You’re floundering and you’re not where you want to be professionally, which bleeds into your personal life and causes you to get upset and sad easily.

        You need a system, a way to set goals that makes them attainable 100 percent of the time. When you establish your system, it takes the guesswork out of goal achievement and makes it a matter of completing specific steps.

        Where would you be right now in your life if you had followed such a system from the beginning of your professional career and stuck with it? Would you be owning and running your own business, would you be working for a company you love, or would you be independently creating great work that keeps you in high demand?

        This is where it gets good. The following tips will cover the most actionable ways to set professional goals (with professional goals examples included). If you follow these tips and do your absolute best each step of the way, you’ll have no choice but to launch into a new, exciting period in your professional life.

        Start with tip number 1 — this tip is essential to any and all of the other tips on this list. Although you’re starting with 1, this is not a linear list. You can take each tip by itself and run with it, or you can implement as many as possible — the choice is yours. That said, the more action you take, the closer you are to making tip 1 a reality.

        Ready to grasp the very essence of what it is to succeed? Keep reading.

        1. Identify What You Love — and Make a Statement

        This is it — the single most important word is not career, it’s love. Your primary, overarching, life-defining career goal must center around what you love.

        You figured out what you love when you were young, and then somewhere along the way you lost it in the noise, the pressure, and the clutter of everyday life.

        Billions of people exist on this Earth, and things aren’t what we wish they could be because we succumb to fear instead of doing what we love.

        How can you take what you love and serve this love with your career?

        • Create a statement, a single sentence that encapsulates your overarching career goal. Make it specific.
        • Write the love-of your-life career goal sentence down and pin it to the wall where you’ll see it every day.
        • Make sure this sentence informs all your other objectives.
        • Make sure your primary career goal is the result of what you love to do.

        Example:

        “Be a successful nonfiction author: Write nonfiction content — books, poems, essays, blog posts — to help people realize the priceless importance of love and the imagination, and get your content published.”

        2. Don’t Just Create SMART Objectives — Be Ultra-SMART

        Now that you have your ultimate career goal nailed to the wall, it’s time to get SMART. That is, use the SMART acronym to create objectives:

        • Specific
        • Measurable
        • Achievable
        • Relevant
        • Timed

        Your SMART objectives are micro-goals that fit all of the above criteria. They are not nebulous, vague, and tough to complete. They are daily objectives you know you can handle, and they’re necessary.

        You have to complete SMART objectives in order to meet other, tougher goals, which ultimately contribute to your main goal.

        So how do you make your SMART objectives ultra-SMART? Push yourself. Don’t settle for the same level of output every day. Don’t hold yourself to low standards. Think about quality and do your absolute best.

        Example:

        SMART: “Today I will write 500 words about the power of love between 10am and 2pm.”

        Ultra-SMART: “Today I will write 500 words about the power of love between 10am and 2pm, and will find 3 accredited, scientific sources to backup my argument.”

        Note that “Ultra-SMART” is not about writing more — more isn’t necessarily better, and if you’re just starting out, may not be achievable; rather, ultra-SMART is about focusing on quality within a reasonable framework.

        3. Identify an Absolutely Essential Stepping Stone and Step to It

        No one realizes their ultimate goal without finding a job that will push them in that direction. Jobs pay, and you need money to survive, but you don’t want a job that has nothing to do with your career goal. Pinpoint a job that is like an apprenticeship for what you ultimately want to do.

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        Example:

        When famous author Neil Gaiman delivered his commencement address[1] — which, by the way, is phenomenal — to University of the Arts in Philadelphia, he said something that makes perfect sense:

        “I wanted to write comics and novels and stories and films, so I became a journalist, because journalists are allowed to ask questions, and to simply go and find out how the world works, and besides, to do those things I needed to write and to write well, and I was being paid to learn how to write economically, crisply, sometimes under adverse conditions, and on time.”

        Note that Gaiman’s goal was to be a creative writer, but he took a position in journalism, which isn’t creative writing; it’s about facts, writing them well, and having discipline. For Gaiman, journalism was a stepping stone towards achieving his overarching goal.

        4. Get Really, Really Good at Crafting Your Resume

        You’re not going to settle, and there are multiple stepping stones towards your final destination. But here’s the clincher:

        Crafting a great resume is about more than landing a job.

        Crafting a great resume is about learning how to think from someone else’s perspective. If you can imagine what someone else wants to see in a great resume, you can view other things from their perspective too, and that’s important in the professional world.

        To do a resume the right way, consider the mistakes you should avoid:[2]

        • Avoid disorganization: Provide your name, work experience and corresponding titles, education, relevant skills.
        • Avoid irrelevant information: Consider the position you’re applying for carefully and focus on information relevant to it.
        • Avoid length: A one page resume with just the right wording is a thing of wonder.
        • Avoid showy fonts and words: Be basic but let your personality shine through.
        • Avoid sloppiness: Check for typos, misspelling, and grammatical mistakes.

        Example: Here’s a great resume example, courtesy of Shayanne Gal from Business Insider:[3]

          5. Ask Yourself the Most In-Depth Questions

          Throughout your educational career, you heard teachers say, “There are no bad questions” or something to that effect.

          It’s true; however, this mantra ignored the fact that some questions are better than others.

          Asking, “How can I do x in a unique and interesting way?” is better than asking “How can I do x?”

          You can set professional goals that you might accomplish, or you can set professional goals you’re highly likely to accomplish because you went in-depth with your questions. This goes very well with SMART goals. Specificity and detail are the hallmarks of achievable goals.

          Example:

          Say, for instance, you’re at the point where you feel you can start your own business from home. The Hartford offers pertinent questions you should ask before doing so:[4]

          • Will your house accommodate your business?
          • Can you find work-life balance?
          • When you interact with customers, how will you showcase a professional image?
          • Are there city zoning ordinances you need to consider?
          • Do you have the insurance and tax liabilities covered?

          6. Use a Digital Assistant to be Insanely Efficient

          Executives and bosses have personal assistants to help them with scheduling, organization, and other time-consuming tasks.

          You may not be at the point in your career where you can afford to hire somebody, which is why it helps to have a productivity assistant to help you be more efficient.

          Use an app to keep track of mundane scheduling and other minute details so you can free up your mind for creativity.

          Example:

          See this list of task management apps . Out of all of them, Any.do has one of the best interfaces, and it will give you the reminders you need to stay on task.

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            7. Create a Vivid Mental Picture

            Discouragement can and will happen — it’s a part of life, whether professional or personal. Don’t wait until you get discouraged to visualize yourself doing well.

            Practice your mental picture of success even at the times when everything is going so well it’s unbelievable, but you’re not quite at the end-point yet.

            When things aren’t going well, it’ll be the much easier to remain in a positive mind-state because you practiced being there.

            Example:

            Social scientist Frank Niles provides a perfect example of goal visualization:[5]

            “Former NBA great Jerry West is a great example of how this works. Known for hitting shots at the buzzer, he acquired the nickname ‘Mr. Clutch.’ When asked what accounted for his ability to make the big shots, West explained that he had rehearsed making those same shots countless times in his mind.”

            Note that West visualized sinking the exact shots; again, specificity matters.

            8. Express Your Professional Goals Positively

            This goes directly with the visualization process. Goals can seem like chores, which is why it’s important to use positive, proactive wording when you’re vocalizing or writing things down.

            Through positive expression, you’re training your brain to take a certain path whenever you think about your professional goals. This translates into forward, positive momentum whenever you take action.

            You’re more likely to take action if you associate that action with positive thoughts and feelings.

            Example:

            Instead of, “It isn’t that hard to type 500 words in 4 hours,” say, “I like taking advantage of the time I set aside to zone in and really have fun with what I’m doing.”

            Note that the specific goal — 500 words in 4 hours — is implied because you already know it.

            The point of this statement is to associate a feeling of enjoyment with commitment and focus.

            9. Build Your Network with Passion and Purpose

            A professional network will help you hit those stepping stones necessary to achieving your ultimate goal. But you don’t want to network with just anyone.

            Build a network with other people who share your passion, build it based around your specialty, but also look for people from outside your usual sphere who can help you gain a different perspective.

            Demonstrate your passion by helping other people, and listen more than you talk.

            Example:

            Find a mentor — it’s perhaps the most critical networking move you can make. MileIQ provides some examples of where to start:[6]

            • The SCORE Business Learning Center
            • Small Business Development Centers
            • Women’s Business Centers
            • Veteran’s Business Outreach Centers
            • Minority Business Development Agency
            • A trade association through your SBA district office

            10. Benchmark a Competitor Like a Boss

            If you’re freelancing or running your own business, this one is particularly applicable to you.

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            Is there an exemplary freelancer or small business owner with whom you’re impressed? Analyze what this person has done to get where they are, find a metric to serve as a benchmark of their success, and aim to do better.

            Example:

            Benchmark social metrics — say, for example, you’re writing an article on cryptocurrency for a finance website. Buzzsumo[7] provides a tool you can use to benchmark the number of social shares a competitor has earned for this topic:

              11. Master Time Management

              Here’s the thing about professional goals:

              You must master time management to accomplish them. Understand how much time to set aside for each objective; and when you’re working on objectives, use your time not just efficiently, but mindfully.

              That means immersing yourself in the activities that are essential to completing objectives. Focus on what works best to achieve your desired outcome.

              Example:

              Life and business strategist Tony Robbins recommends “chunking your goals,” otherwise known as compartmentalization:

              • Write down tasks you need to get done during the week.
              • Group different tasks together based on their categories, e.g. “Consult SCORE about a mentor” and “talk to Ted about job opportunities” would be categorized under “Networking.”
              • Set aside time for each category.
              • Work on the tasks for a single category during a specific chunk of time.

              12. Identify Your Strengths and Weaknesses — and Get Strategic

              As you move toward accomplishing your primary career goal, you’ll note that different objectives fit into different categories, and you’re better at some categories than you are others.

              Once you know what you’re good at, focus on it. Spend as much time as you can concentrating on your strong-points.

              When it comes to your weaknesses, ask for help.

              Forbes contributor Elana Lynn Gross reveals that asking for help the right way can advance your career. “Ask targeted questions that will allow you to set your strategy,” Gross says.[8]

              Within any category, work on what you’re good at first, and then ask your network for help with blind spots.

              Example:

              Christine Wallace, VP of Branding and Marketing at Startup Institute, told Fast Company how she ended up dropping her first venture:[9]

              “I took a train from the Valley up to San Francisco and met with two mentors, who agreed that it was the end of the road for Quincy [Apparel]. After it was all over I spent three weeks straight in bed. Then after 21 days of sleeping, crying, I put on my big girl pants and rejoined the world.”

              In Wallace’s case, she needed to ask her mentors for help to understand when to move on.

              Don’t be afraid to ask for advice when something isn’t working.

              13. Take Advantage of Awesome Resources at Your Disposal

              When it comes to setting professional goals, tunnel-vision and short-sightedness are big problems for many of us.

              We think there’s only one way to complete an objective. The truth is there are multiple ways to approach any problem.

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              This implies taking a moment to step back, view your objective from a distance, and survey your options. Think differently, use your imagination, and do a thorough search — online and off — for resources.

              Example:

              Get a library card, scour the shelves, AND crowdsource ideas from social media — you may find something unexpected.

              14. Be a Brand That Stands Out

              Believe it or not, your brand is a very important part of your overall career goal. There are two aspects here:

              • How you appear via any published format
              • How you appear in person

              It’s more important to have a quality brand than it is to be prolific, so don’t publish anything — on social media or elsewhere — that you will regret.

              You will make mistakes in your endeavors, and in fact it’s important to take risks and make mistakes.

              There are good mistakes. Good mistakes are the screw-ups that show you’re striving toward your goal. Anytime you set an objective, think about how it aligns with brand and overall goal. In other words, know when to say “no” to projects that don’t compliment your brand and overall mission.

              Example:

              View yourself as a thought leader, be one, and make content that showcases your thought leadership:[10]

              • Videos: Post on YouTube, your website, and social media
              • Podcasts: Learn how to start podcasting.[11]
              • Workshops or meetups: Look for a community space and invite others to join you in discussion.
              • Blog posts and newspaper op-eds: Share your knowledge and opinions.

              15. Steal Ideas from Your Competitors

              This is the one truth that’s hard to stomach. Great ideas come to those who steal. You may not be sure of your next step, your next objective, and time is precious.

              Observe what other great professionals are doing, capture the core of their objectives, make them your own, and craft them into something new.

              Example:

              Steve Jobs, the visionary behind Apple, fully endorsed the Picasso quote, “Good artists copy, great artists steal.”[12]

              In 1989, Xerox sued Apple for stealing ideas and incorporating them in the Macintosh and Lisa computers, but lost the lawsuit. That’s because Apple made something new.

              Here’s a simple way to go about this. Say you’re writing about freelancing, and the Freelancers Union blog is one of your top competitors. Pop the URL into Buzzsumo. You’ll see that the top articles are about taxes:

                In that case, you can write a “Definitive Guide to Taxes for Freelancers” or “Definitive Guide to Tax Breaks for Freelancers.”

                It’s About Passion and Practicality Combined

                Your primary career goal must be about what you love to do. Otherwise, why would you want to do it?

                To reach your goal, you must make small, practical steps. Don’t expect everything to go perfectly along the way, and don’t eschew hard work that isn’t exactly exciting.

                Too often, we get caught up in the excitement of the dream, and when the step-by-step isn’t nearly as exciting, we quit.

                Learn how to do the boring, rote tasks with joy because you’re doing them to achieve greatness.

                Always remember why you set out on a mission to begin with, and let your brain follow your heart.

                More Tips for Setting Professional Goals

                Featured photo credit: rawpixel via unsplash.com

                Reference

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