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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

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        Last Updated on October 16, 2019

        How to Bounce Back Gracefully After Getting Fired

        How to Bounce Back Gracefully After Getting Fired

        Whether you saw it coming or not, getting fired is a real shock and its impact is daunting. What did you do wrong? What are you supposed to do next? When will you stop feeling so angry?

        But there are ways to deal with a layoff.

        The most important thing is to remain calm and see it as an opportunity to reflect, change and improve. This is a great time to consider what happened, look again at your needs and desires and start afresh on a stronger, more constructive basis.

        Let’s take a look at how you can bounce back gracefully after getting fired.

        1. Deal with the Shock of Getting Fired

        To lose your job is to lose your identity as a worker and as a person. Debbie Mandel, author of Addicted to Stress, states that 7 out of 10 of us define ourselves by our job titles, since work is where we spend the majority of our time and energy.

        Being laid off affronts your sense of self-worth—it implies that you simply are not good enough. It’s no wonder you feel confused and emotional.

        The first thing, then, is to take some time to digest what happened and deal with the overflow of sensations. People who quickly recover from the pain of a job loss tend to do two things very well:

        First, they accept their feelings of sadness, anger, fear and shame as a part of the natural healing process.

        Second, they do their complaining to a friend.

        Never call out your boss in the office or on social media. It’s a bad form to speak ill of the company you work for. Stay stylish, and your employer will speak better of you when you need a reference.

        2. Stay Away from the Drama Queens

        Mass layoffs are, unfortunately, very common. If this is your situation, then you may be surrounded by a lot of angry people, ruminating and lamenting their fate.

        “It’s not fair!” they say. “After everything we did for this company! We don’t deserve this!”

        You’ve lost your job and that’s tough. But please resist the urge to join in the negativity. Positivity is by far the most important attitude to apply right now. If staying upbeat means you have to limit your exposure to the Negative Nellies, then that’s what you have to do.

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        Remember, life is not harder for you than it is for other people on this planet. You live in a democracy, you have freedom of choice and you enjoy a certain material abundance.

        Stay positive and focus on what’s going well in your life and the exciting future opportunities available to you. Getting fired is only a temporary setback.

        Staying positing could be challenging in a difficult situation, so these tips can help:

        10 Questions To Ask Yourself To Stay Positive When Facing Difficulties

        3. Take a Break and Let the Dust Settle

        Instead of running straight into another job that may not be the right one either, take a short break to recover from the job loss. You need a week or two to de-stress and meditate on the next step.

        Be attentive to your need for self-care during this interlude. Everything goes so fast these days that we often do not stop to think or give ourselves the permission to do a little mourning.

        Getting fired is a big shock: you need time to refocus and take stock of the new reality. Do not make things harder for yourself!

        What you need is to pause a while and do some self reflection:

        How Self-Reflection Gives You a Happier and More Successful Life

        4. Be Anchored in the Present

        Since you no longer have a hold on the past, but have not yet designed your future, try to build yourself up with the present. What do we mean by that?

        We mean that right now is the only time you have any control over. Focus on that instead of losing yourself in memories or reliving the awful day you got fired over and over in your head.

        Get up at 7 a.m. each day, whatever happens. The body needs rhythm and habits. You will feel much more energized if you keep a consistent routine. Maintain a healthy lifestyle, revisit your budget, play sports, volunteer. Take care of the practical stuff like claiming unemployment. Enjoy the small pleasures of everyday life.

        When you’re busy, there’s no room for the inner critic to raise up and derail you. Keep active, and you will gain more of the precious energy you need so much to move forward.

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        Try these things to help you live in the moment:

        34 Ways To Live in the Moment And Grow in the Moment

        5. Understand the “Why”

        There are lots of reasons why people are fired. Sometimes the mistake is yours and it’s embarrassing to admit you backed yourself into this corner.

        Other times, it’s not your fault. Businesses change direction all the time—maybe yours is going through a major transition or merger and your job is disappearing.

        Either way, to give the situation some closure, you need to understand why you were dismissed. What slipped? What could you have done differently? Was your boss really out to get you or did you do something to put your job in jeopardy?

        Be honest with yourself. It’s not easy to admit that you might have dropped the ball but it’s the only way to turn the situation into a learning experience. Ask yourself:

        What skills do you need to improve?

        Is there training you can access, or learning you can do?

        In the end, did this job suit you that much? Were you happy there?

        Reflecting on these questions can help you put things into perspective. What lessons can you learn to avoid reproducing the same pattern in your next job?

        6. Find out If You Were the Right Fit

        Hiring decisions ultimately come down to personality. You can study for an interview all you like, but every candidate who is chosen for interview has the right credentials for the job.

        The final decision comes down to personality. Who does the recruiter like the best? Who is a better fit for the company culture? That’s the person who strikes it lucky.

        Firing decisions are based on personality, too. Slacking off, insubordination and playing fast and loose with the company rules—these are the official reasons why people are getting fired.

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        But all of these reasons boil down to one thing: personality. Specifically, they signal a personality clash between an employee and a manager, or an employee’s fit with the company’s culture.

        Here’s an example:

        Suppose you were fired for “not being a team player.” Some people, namely introverts, lose energy when they are surrounded by other people and gain energy when they are on their own. Forcing an introvert to continuously work on a busy, noisy team without any solitary rest periods means the job is a mission impossible. This employee will never perform at her best.

        Or how about the time the Kansas City Star newspaper fired Walt Disney for a perceived lack of imagination? Talk about a clash of personalities![1]

        Getting fired can be a signal to turn inward and do some self-reflection so you can better understand your personality and how it might fit in with corporate culture.

        In particular, personality assessments based on Isabel Briggs Myers’ sixteen personality types can help you to understand your own work style and how you can find a job and workplace that better match who you truly are.

        In many cases, it is totally liberating to realize that all the crap you had to deal with was just down to a clash of work styles and not something you did wrong!

        7. Rediscover Your Strengths and Talents

        A personality test can also give you clear insights into your strengths, weaknesses, motivations and work potential. Do you have leadership abilities? How do you communicate and manage conflict? What benefits do you add to an organization?

        Identifying your working style should be your top priority right now, otherwise you risk accepting a new position that has all the same problems as before. The last thing you want is to reproduce the same old dramas the next time around.

        When you become aware of your potential, you will have the confidence to search and find the type of work you love.

        For example, getting fired from your banking job may have knocked you sideways. But you have some stellar home decorating skills, and a personality test shows that you are curious, flexible, rational and resilient—all the traits of successful entrepreneurs. Maybe this dismissal is an opportunity to launch the business you’ve always dreamed of but never dared to admit to yourself?

        By considering all your special skills and talents, you increase your chances of finding a job you would really enjoy, and not just the one you can do.

        8. Get the Word Out

        At this point, you should be ready to take action and move forward with your job search. Let’s not sugarcoat the situation: getting a new job is tough. It helps to have a clear idea of the direction you want to go in, a list of all your crossover skills and a freshly polished resume.

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        Look around for inspiration. Talk to recruiters in your sector to establish what they consider to be your most valuable skills. Use all the resources at your disposal: job search agencies, headhunters, work coaches, careers websites and so on. These resources can help you match your qualifications to the job requirements and ensure you have the right keywords on your resume.

        Don’t hold back on marshaling your networks. Put friends and family to work to pop up leads, and don’t be afraid to ask for referrals. Sometimes the simple act of getting the word out to the people who know you is the surest way to find work fast.

        9. Anticipate Questions and Know How to Answer Them

        Even if it wasn’t your fault, getting fired can hurt you if you don’t know how to explain why you were let go. You have to be honest here and tell recruiters the truth. Even if a would-be employer does not specifically ask why you left your previous job, it is better to clarify the situation upfront before it comes out in your references.

        The best approach is to take your share of responsibility and show that you want to go forward and that you understand the lesson.

        For example, suppose you got fired for asking the difficult questions that no one wanted to answer and your candidness set people on edge. Acknowledge that some people perceive your communication style as abrupt and explain how you’re taking steps to increase your diplomacy skills.

        A recruiter can be seduced by someone who knows how to evolve and who shows a great energy for personal development.

        10. Adapt and Persist

        Throughout this journey, you inevitably will go through moments of self-doubt and disappointment. There are undulations in every road, and these are the normal steps for regaining self-confidence after getting fired.

        Stay tough! Don’t conclude that your future is hopeless just because the dream job doesn’t land straightaway. You open a positive path when you maintain focus. Have the confidence to know that the perfect job for you is out there.

        Remember, you are not alone. Many people walked this road and they would urge you to keep the momentum. Stay open-minded and go where the opportunities take you: it will bring you closer to the job you really want.

        Coming Out on Top

        While getting fired isn’t the ideal situation, it isn’t the end of the world either. Even if feels like a doozy right now, you will get through it and emerge happier on the other side.

        Be clear on what you want, have courage and believe in yourself. In the end, you may decide that getting fired was the best thing that ever happened to you. It can be the catalyst for a powerful, career-fulfilling change.

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        Featured photo credit: Jesus Kiteque via unsplash.com

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