Advertising
Advertising

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

4369749617_de8457da89_b

    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.

    Advertising

    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.

    Advertising

    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

    14409597890_1229e02ec9_k

      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.

      Advertising

      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

      Advertising

      5076410500_8b93f503c7_b

        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

        More by this author

        Elena Prokopets

        Freelance Writer

        22 Amazing Pineapple Health Benefits (With Simple Pineapple Recipes) 15 Cool And Practical Apps For Couples 14 Things No One Tells You About Being in a Long-Distance Relationship 9 Tips to Prepare For Your First Multi Day Hike 10 Tips For Traveling in Europe With Class on a Budget

        Trending in Work

        110 Huge Differences Between A Boss And A Leader 217 Versatile Work Skills Employers Want to See in Potential Employees 317 Tactics to Drastically Improve Communication in Relationships 4What are MBTI Types and How Can They Affect Your Career Choices? 5How to Use Visual Learning to Boost Your Career or Business

        Read Next

        Advertising
        Advertising

        Last Updated on August 16, 2018

        10 Huge Differences Between A Boss And A Leader

        10 Huge Differences Between A Boss And A Leader

        When you try to think of a leader at your place of work, you might think of your boss – you know, the supervisor in the tasteful office down the hall.

        However, bosses are not the only leaders in the office, and not every boss has mastered the art of excellent leadership. Maybe the best leader you know is the co-worker sitting at the desk next to yours who is always willing to loan out her stapler and help you problem solve.

        You see, a boss’ main priority is to efficiently cross items off of the corporate to-do list, while a true leader both completes tasks and works to empower and motivate the people he or she interacts with on a daily basis.

        A leader is someone who works to improve things instead of focusing on the negatives. People acknowledge the authority of a boss, but people cherish a true leader.

        Puzzled about what it takes to be a great leader? Let’s take a look at the difference between a boss and a leader, and why cultivating quality leadership skills is essential for people who really want to make a positive impact.

        1. Leaders are compassionate human beings; bosses are cold.

        It can be easy to equate professionalism with robot-like impersonal behavior. Many bosses stay holed up in their offices and barely ever interact with staff.

        Even if your schedule is packed, you should always make time to reach out to the people around you. Remember that when you ask someone to share how they are feeling, you should be prepared to be vulnerable and open in your communication as well.

        Does acting human at the office sound silly? It’s not.

        A lack of compassion in the office leads to psychological turmoil, whereas positive connection leads to healthier staff.[1]

        If people feel that you are being open, honest and compassionate with them, they will feel able to approach your office with what is on their minds, leading to a more productive and stress-free work environment.

        Advertising

        2. Leaders say “we”; bosses say “I”.

        Practice developing a team-first mentality when thinking and speaking. In meetings, talk about trying to meet deadlines as a team instead of using accusatory “you” phrases. This makes it clear that you are a part of the team, too, and that you are willing to work hard and support your team members.

        Let me explain:

        A “we” mentality shifts the office dynamic from “trying to make the boss happy” to a spirit of teamwork, goal-setting, and accomplishment.

        A “we” mentality allows for the accountability and community that is essential in the modern day workplace.

        3. Leaders develop and invest in people; bosses use people.

        Unfortunately, many office climates involve people using others to get what they want or to climb the corporate ladder. This is another example of the “me first” mentality that is so toxic in both office environments and personal relationships.

        Instead of using others or focusing on your needs, think about how you can help other people grow.

        Use your building blocks of compassion and team-mentality to stay attuned to the needs of others note the areas in which you can help them develop. A great leader wants to see his or her people flourish.

        Make a list of ways you can invest in your team members to help them develop personally and professionally, and then take action!

        4. Leaders respect people; bosses are fear-mongering.

        Earning respect from everyone on your team will take time and commitment, but the rewards are worth every ounce of effort.

        A boss who is a poor leader may try to control the office through fear and bully-like behavior. Employees who are petrified about their performance or who feel overwhelmed and stressed by unfair deadlines are probably working for a boss who uses a fear system instead of a respect system.

        Advertising

        What’s the bottom line?

        Work to build respect among your team by treating everyone with fairness and kindness. Maintain a positive tone and stay reliable for those who approach you for help.

        5. Leaders give credit where it’s due; bosses only take credits.

        Looking for specific ways to gain respect from your colleagues and employees? There is no better place to start than with the simple act of giving credit where it is due.

        Don’t be tempted to take credit for things you didn’t do, and always go above and beyond to generously acknowledge those who worked on a project and performed well.

        You might be wondering how you can get started:

        • Begin by simply noticing which team member contributes what during your next project at work.
        • If possible, make mental notes. Remember that these notes should not be about ways in which team members are failing, but about ways in which they are excelling.
        • Depending on your leadership style, let people know how well they are doing either in private one-on-one meetings or in a group setting. Be honest and generous in your communication about a person’s performance.

        6. Leaders see delegation as their best friend; bosses see it as an enemy.

        If delegation is a leader’s best friend, then micromanagement is the enemy.

        Delegation equates to trust and micromanagement equates to distrust. Nothing is more frustrating for an employee than feeling that his or her every movement is being critically observed.

        Encourage trust in your office by delegating important tasks and acknowledging that your people are capable, smart individuals who can succeed!

        Delegation is a great way to cash in on the positive benefits of a psychological phenomenon called a self-fulfilling prophecy. In a self-fulfilling prophecy, a person’s expectations of another person can cause the expectations to be fulfilled.[2]

        In other words, if you truly believe that your team member can handle a project or task, he or she is more likely to deliver.

        Advertising

        Learn how to delegate in my other article:

        How to Delegate Work (the Definitive Guide for Successful Leaders)

        7. Leaders work hard; bosses let others do the work.

        Delegation is not an excuse to get out of hard work. Instead of telling people to go accomplish the hardest work alone, make it clear that you are willing to pitch in and help with the hardest work of all when the need arises.

        Here’s the deal:

        Showing others that you work hard sets the tone for your whole team and will spur them on to greatness.

        The next time you catch yourself telling someone to “go”, a.k.a accomplish a difficult task alone, change your phrasing to “let’s go”, showing that you are totally willing to help and support.

        8. Leaders think long-term; bosses think short-term.

        A leader who only utilizes short-term thinking is someone who cannot be prepared or organized for the future. Your colleagues or staff members need to know that they can trust you to have a handle on things not just this week, but next month or even next year.

        Display your long-term thinking skills in group talks and meetings by sharing long-term hopes or concerns. Create plans for possible scenarios and be prepared for emergencies.

        For example, if you know that you are losing someone on your team in a few months, be prepared to share a clear plan of how you and the remaining team members can best handle the change and workload until someone new is hired.

        9. Leaders are like your colleagues; bosses are just bosses.

        Another word for colleague is collaborator. Make sure your team knows that you are “one of them” and that you want to collaborate or work side by side.

        Advertising

        Not getting involved in the going ons of the office is a mistake because you will miss out on development and connection opportunities.

        As our regular readers know, I love to remind people of the importance of building routines into each day. Create a routine that encourages you to leave your isolated office and collaborate with others. Spark healthy habits that benefit both you and your co-workers.

        10. Leaders put people first; bosses put results first.

        Bosses without crucial leadership training may focus on process and results instead of people. They may stick to a pre-set systems playbook even when employees voice new ideas or concerns.

        Ignoring people’s opinions for the sake of company tradition like this is never truly beneficial to an organization.

        Here’s what I mean by process over people:

        Some organizations focus on proper structures or systems as their greatest assets instead of people. I believe that people lend real value to an organization, and that focusing on the development of people is a key ingredient for success in leadership.

        Learning to be a leader is an ongoing adventure.

        This list of differences makes it clear that, unlike an ordinary boss, a leader is able to be compassionate, inclusive, generous, and hard-working for the good of the team.

        Instead of being a stereotypical scary or micromanaging-obsessed boss, a quality leader is able to establish an atmosphere of respect and collaboration.

        Whether you are new to your work environment or a seasoned administrator, these leadership traits will help you get a jump start so that you can excel as a leader and positively impact the people around you.

        For more inspiration and guidance, you can even start keeping tabs on some of the world’s top leadership experts. With an adventurous and positive attitude, anyone can learn good leadership.

        Featured photo credit: Unsplash via unsplash.com

        Reference

        Read Next