Singapore ranked fifth in the list of the most competitive countries in the world, a survey reported in 2013 by a Switzerland-based business school which has been releasing the ranking for 25 years. Competitiveness in the said survey was analyzed using 333 criteria that measure the efficiency of the government, national economic stability, efficiency of business transactions and infrastructural progress. Hence, it can’t be denied that Singapore lives up to its promise of being a premier business hub not only in Asia but also in the world. However, such status imposes significant burden to ordinary employees in terms of competitive job acquisition. The impacts of this event are analyzed in this paper in order to inform students and employees regarding the status of job competition in the city-state.
Strict educational system
The educational system in Singapore is one of the best in the world. This is supported by the provision of skilled professors, national exams and overwhelming school requirements. The format of primary and secondary curricula in the nation was created by the government to ensure that graduates will comply well with the hiring requirements of international and local companies. Furthermore, the Ministry of Education sees to it that marketing or accounting degree in singapore will be able to supply the necessary training and courses that will be needed by the graduates in applying for their entry-level positions.
Advance and double degrees
To climb up the corporate ladder, education acquired from universities must be complemented with additional learning. This fact has resulted to the growing number of Singaporean workers who are engaging themselves in graduate schools and double degrees. Managers with mechanical engineering singapore degree, for example, are enrolling in businesses schools in order to advance themselves and attain higher positions in their respective corporations.
Workforce skills development
Mid-level employees who are employed in the same company for three to five years join trainings and seminars in order to strengthen their resume. This practice is a norm among Information Technology workers since they have to update themselves with the latest software innovations. Though these kinds of seminars are usually costly, employees still believe that acquiring the supplemental skills will ensure their job security in the highly competitive nature of the Singaporean industry.
Competitive hiring process
Competition for jobs in the city-state is a multi-factorial event. This is because of the fact that both entry-level and managerial positions are advertised not only to Singaporean citizens but also to foreign workers throughout the Asian and American regions. To better filter the multitude of resumes that are received by hiring officers, popular companies employ stringent conditions to select the candidate who will best fit their guidelines. This means that aside from the submission of transcript of records, diploma and certificates of employment from previous companies, aspirants must also survive several levels of panel interviews and document verification processes in order to secure the job.
Better employment terms
Highly competitive jobs are usually the ones with the best benefit packages and salary offers. This is generally true in Singapore where mid-level workers can earn about 5,000 to 10, 000 Singaporean dollars every month. Other benefits can include medical assistance, paid leaves and allowances. With this in mind, employees are willing to surpass tough hiring procedures in order to avail these benefits.
Securing a job in Singapore is not an easy task. The hiring process is very competitive and aspirants have to prove themselves against local and foreign contenders. Fortunately, the results that can be achieved once a candidate got employed are truly desirable.