Category: Blogs

COMPLEMENTARITY ASSESSMENT FRAMEWORK

Post author By hrplus
Post date October 23, 2023

With effect from 1 September 2023, all employers intending to hire foreigners on Employment Pass in Singapore are required to meet the new qualification known as Complementarity Assessment Framework (COMPASS) to assess the eligibility of foreigners for the Singapore Employment Pass.

The key purpose of this new complementarity assessment framework is to enable employers to select and hire high-quality foreign professionals to work in Singapore while improving the workforce diversity and maintaining a strong Singaporean core.

COMPASS

Under the new Complementarity Assessment Framework, all EP applications will be assessed on four foundational criteria, namely Salary, Qualifications, Diversity and Support for Local Employment. Further to the four foundational criteria, there are two bonus criteria that recognise applications bringing in skills that are not readily available in Singapore and support strategic economic priorities, which create jobs for Singaporeans.

To qualify for Employment Pass (EP), the candidate must score 40 points from the four foundational criteria, or by scoring points under the bonus criteria. There are concessions for start-ups and small firms with less than 25 employees to meet the 40 points requirements.

Renewal applications are exempted from COMPASS for 1 year from 1 September 2023 but will be subjected to the same assessment framework from 1 September 2024.

The following are a summary of the key criteria/ factors that will affect the scoring under COMPASS.

Salary:

All applicants must meet the EP qualifying salary. For a similar job role and age, the salary differences may vary according to industries. For example, the salary requirements for jobs in the banking and finance sector is higher compared to other business sectors. To gain points under the salary criteria, candidates will be benchmarks against salaries for local PMET salary in the same industries taking into account age factor.

Qualifications:

MOM has also provided a list of renown universities and foreign institutions that which would be automatically gain between 10 to 20 points under this category. For candidates with qualifications outside the list provided, employers would be responsible to arrange for verification of the qualifications by engaging approved third-party accreditation agencies. These agencies must be from the list approved by MOM.

Applicants without degree equivalent qualification can qualify for EP by gaining points through our criteria. The assessment framework recognises that not all successful entrepreneurs and talent must have gone through formal tertiary education.

Diversity:

The COMPASS framework encourages firm to have a diverse mix of nationalities so it enriches firms with new ideas and networks, and contributes to a more inclusive and resilient workforce.

Points are awarded to applications where the candidate’s nationality forms a small share of the company’s PMET employees.

As it’s not easy for firms with small number of headcount in Singapore to comply, a default score of 10 points will be awarded for firms with less than 25 employees.

Support for Local Employment:

COMPASS recognises firms that make efforts to create opportunities for the local workforce and build complementary teams comprising both local and foreign professionals.

Points are awarded to firms with a high share of locals, among PMET, compared to other firms within the same business sector. If a firm’s local PMET share is at least 70% (pegged to the 20th percentile of firms economy-wide), the application will earn at least 10 points. This is regardless of where the firm stands within its subsector. In this way, the MOM does not penalise firms in subsectors which have a relatively high share of local PMET employees. PMET is defined as local employees earning at least SGD3,000.00 per month.

Skills Bonus (Shortage Occupation List):

The COMPASS framework recognises that there are a number of occupations and specialised skills that are short in Singapore. Information technology with niche expertise such as cyber security and health care professionals such para-medical skills are well known examples of such occupations. Others include professionals in agritech, fintech, green economy etc.

The Shortage Occupation List (SOL) has been developed and published to guide employers on what occupation list can qualify for additional bonus points.

Strategic Economic Priorities Bonus:

Companies that are undertaking ambitious innovation, internationalisation activities or strategic economic projects in partnership with the government economic agencies are also recognised and will be provided additional bonus points.

In order to qualify for this additional bonus points, companies must engage, participate and meet assessment criteria in selected programmes run by various economic agencies. Typically, these programmes and support would require companies to show commitment to developing the local workforce or ecosystem.

Tags COMPASS, Complementarity Assessment Framework, Singapore Employment Pass

Blogs

Singapore Employment Pass: A Quick Guide & Update for 2024.

Post author By hrplus
Post date October 23, 2023
No Comments on Singapore Employment Pass: A Quick Guide & Update for 2024.

The Singapore Employment Pass (EP) is a work visa that allows foreign professionals with an opportunity to work in Singapore in certain specialized, managerial or executive positions. Generally speaking, it is one of the 3 types of professional work passes where employers are not required to hire any local staff before the Singapore Employment Pass visa can be approved.

Due to this concession and flexibility, the Ministry of Manpower has imposed strict yet subjective criteria in terms of the quality of the candidate and the background of the employer eligible to hire foreigners holding such a pass.

The other 2 passes are the Personalised Employment Pass (PEP), and Entrepreneurial Pass (EntrePass) have an even more stringent requirements than the Singapore Employment Pass.

Recently Introduced criterions for Singapore Employment Pass (EP)

In recent years, the application process for Singapore Employment Pass has been made stricter by the Ministry of Manpower (MOM). Nevertheless, well qualified foreigners in terms of academic qualification with specialized skills and experience are still welcome and able to qualify for the Singapore Employment Pass (EP) work visa. Since 1 September 2023, the Complementarity Assessment Framework (COMPASS) has been introduced. Under this new framework, a wider range of criterion will be taken into consideration when assessing each application. Apart from the usual salary and education criterion, the new framework introduced a few other criterion, namely the foreign employee diversity of employer, the ratio of foreigner vs local employees, shortage occupation list and strategic economic priority bonus.

The latest assessment framework further emphasises that it is not only the candidate who would be assessed. The hiring companies are also evaluated in terms of their local headcount and nature of business activities. The Singapore authorities will scrutinize whether the company have hired any Singapore citizens or plans to hire Singaporeans in their business operations. Companies with a disproportionately large numbers of foreigners would be disadvantaged compared to those that have shown commitment to hiring or giving opportunities to locals.

Companies are evaluated in terms of their capital structure and ability to pay the salaries of EP holders. Documentary evidence such as payslips and income tax statements would be required for verification during the approval process. In situation where there are doubts, the employment pass if approved, it may be for a shorter term period then applied for, typically for one year period.

In situation where companies have a healthy ratio of Singaporean employees, they will find their application process smoother. The goal of the Singapore Employment Pass policy is to encourage companies to hire more locals, provide training opportunities and develop them for the roles within the companies as they grow so that companies can reduce their dependence on foreign talent over the long term.

There are no restrictions on the nationality of applicants for Singapore Employment Pass as Singapore is opened to accepting high level talents from anywhere around the world. The key factor is whether such talent are available locally and the justification provided when applying to hire foreigners for a particular role.

With effect from November 2020, employers with 10 or more employees are required to advertise their job vacancies at the government administered portal known as https://employer.mycareersfuture.sg/ for at least 14 days before they can submit an application for Singapore Employment Pass for foreign candidates in the event they are not able to find any suitably qualified local candidates.

Alternative Work Passes to Singapore Employment Pass

In situation where a foreign applicant is not eligible for Singapore Employment Pass work visa, he or she can explore other forms of work pass to work in Singapore. These are quota based work pass which means that the company must hire a certain number of local staff before such work pass can be approved.

For example, foreigners may be able to qualify for S Pass work visa which requires lower salary, less stringent academic qualification and skills criterions.

The S-Pass work visa is for mid-level skilled foreign employees from any country. Candidates need to earn at least SGD2,400 a month and meet the assessment criteria. The hiring companies are subjected to a quota of how many S-Pass work visa they can apply for depending on their local head count numbers. Salary offered should reflect length of work experience and academic qualification, higher salary requirements for candidates with more years relevant work experience than fresh graduates or junior employees. Other than diplomas, technical certificates, such as courses for qualified technicians or specialists can be considered in the assessment for eligibility process. These certifications should preferably include at least 1 year of full-time study. The relevance of applicant’s work experience is also taken into account in the evaluation process as this is a skilled work pass.

Work Permits (WP) are work passes for foreign workers from approved source countries working in the construction, manufacturing, marine, process or services sector. The Work Permit visa is generally meant for lower skill or unskilled labor or blue collar workers but can also be used for certain professional staff as a form of work visa to work in Singapore.

Personalised Employment Pass (PEP)

The is the highest pass category for highly skilled and high income foreigners earning in excess of the equivalent to SGD18,000 per month. No employer sponsor is required unlike all other types of work passes. The approved individual is basically a self-sponsor pass holder and has the flexibility to choose to work for any employer but cannot be unemployed for more than 6 months. Personalised Employment Pass can only be issued once for a maximum period of 3 years and thereafter the applicant needs to convert to EP or other types of visa. Existing high income EP holders earning in excess of SGD12,000 per month can also convert to PEP. Holders of PEP is not allowed to be directors of or start their own company.

Entreprenuerial Pass (Entrepass)

As the word suggest, this is a category of pass targeted at business persons or entreprenuers. There is no minimum salary requirement and educational qualification criteria is less important. However, the applicant needs to demonstrate that he or she is worthy of the Entrepass. The approving criteria is varied and stringent and includes some of the following:

Applicant can demonstrate successful business track record in high value and scalable businesses.
Applicant has special expertise not available locally and has been recognized internationally.
Applicant is willing to invest substantial funds, grow the business by hiring local professional staff.

As there are many types of work passes to suit different foreigners, employers are encouraged to discuss the various options with professional human resource consultants specializing in work pass and employment pass applications in Singapore. With the support from competent HR professionals, the application process can be expedited and approvals assured.

Tags Singapore Employment Pass

Blogs

The rush for Payroll & HR Outsourcing Singapore

Post author By hrplus
Post date August 26, 2023

From start-ups, small businesses and global enterprises, the adaption of Payroll & HR Outsourcing Singapore is on the rise. HRPlus Consulting shares the benefits driving this shift in HR departments.

Forbes recently released an article on how HR outsourcing can be a powerful move for small business enterprises that goes beyond not only as a cost-cutting measure but also challenging the common notion that outsourcing is better off for bigger business players. With limited time & resources, the lack of dedicated head count for specific tasks, ever-changing work environments and regulatory policies, more and more small to medium sized companies are recognising the benefits of outsourcing business processes, especially the traditionally confidential task of payroll administration and other HR services.

Payroll & HR outsourcing ranked 3rd with 32% as one of the most commonly implemented service in outsourcing providers together with IT, finance and customer service. Instead of completing the necessary hours spent for wage calculation, timesheet tracking, insurance, retirement and benefits contributions, banking trips and its arduous demand for accuracy, timeliness and an in-depth understanding of the latest local workforce regulatory and tax matters in-house, it just becomes efficient to outsource it to a trusted partner. Beyond cost savings, it increases business flexibility and agility, which is very essential in the light of a pandemic.

Instant Scalability Competencies

Shifting HR and payroll responsibilities to an outsourced provider helps businesses to respond to sudden shifts in headcount or work environments, without having to hire additional HR staff, re-assigning, or adding workload to existing staff. A trusted payroll and HR outsourcing Singapore service provider quickly understands the changing recruitment and employee shifts and gives companies access to a full team of payroll specialists who ensure HR tasks & payroll preparation is processed on time, accurately and in compliance with Singapore statutory and regulatory requirements.

Expansion | Growth Response

For companies with regional or multi-market operations, HR consultancy and payroll outsourcing service providers combine and consolidate services from headquarters and business units into a single entity. The plan of action is based on market-like principles and the transition of HR and payroll management as shared services rendered for all teams, and across all markets keep business units in check. An outsourced payroll and HR outsourcing Singapore service provider implementing best practices will be a key differentiator for those who wants to have a competitive edge of consistency with across-the-board quality of consultancy support.

Collaborating with an payroll & HR outsourcing Singapore provider can even become strategic when there are requirements to quickly operate business in a new market and hire the right talent overseas. As an Employer of Record (PEO), they are partners of businesses that take on the legal, tax, HR, and regulatory responsibilities to build, retain and optimise the talent acquisition and management, overseas, without requiring businesses to set-up a new overseas office.

Fast-Track HR Automation

HR Technology is becoming mainstream in the workplace scene. Outsourcing payroll services enables businesses to shift from what has traditionally be an off-line process into a digital, transparent and readily accessible data for all employees. This provides businesses the convenience of running their payroll processes on cloud-based systems and an opportunity to value-add into every organisation’s digital transformation journey. Outsourcing payroll also allows businesses to take advantage of robotic process automation (RPA) that many specialist payroll service providers use to optimise HR reporting and payroll processing. These new technology features in HRMS improves both the accuracy and timeliness of managing HR & payroll information, especially for international payroll demands. This can also help in streamlining payroll processes and potentially provide advance analytics on risk mitigation.

Regulatory and Fiscal Compliance

The average payroll processing for one person requires 14 pieces of personal information. If any of these are incorrect, it results to payroll errors. Payroll mistakes are common but costly. While it may not affect employees directly, it will impact business as well with the extra fines with legal and regulatory bodies that penalises every late or incorrect payroll submission.

Payroll legal and regulatory standards may also sometimes get complicated. It becomes considerably more challenging when working on a regional and global scale. Even a single error can expose businesses to more audits and hefty penalties because regulations change continually. To mitigate risks and ensure compliance, businesses will require a thorough awareness of relevant regulations. With the ever-changing rules and legislative policies upheld across different industry sectors and states, HR & payroll outsourcing to a third-party expert eliminates this problem. The appointed payroll service provider employs payroll experts and uses specialised HRMS technology to ensure that payroll is processed accurately and on time, every time. They are also the first to learn about changes to the tax code and legislations that affect payroll and are skilled at keeping payroll compliant.

Secure Expert Services

The majority of business owners and payroll personnel do not have the time to research and study constantly changing regulations, withholding rates, and government forms. The new normal of remote work, health and safety regulations in the workplace are already requiring many organisations to rethink how they can fully focus on their business priorities while addressing the evolution of the workplace post pandemic. With HR & outsourcing payroll, even small businesses can gain access to expertise that was previously only available to large companies. This comes essential especially if your company operates in multiple states, the complexity of managing payroll grows as the number of jurisdictions increases.

Outsourcing builds business resiliency

When the pandemic completely turned the table around economically, businesses that the Coronavirus whirlwind of events have common denominators – they know how to mitigate risk, stabilise costs and increase productivity despite of unprecedented events. We are all still adjusting and this may take a considerable amount of time. Human-to-human interaction become a lesser norm, more teams are working remotely or running hybrid efforts and a greater challenge in addressing the welfare of the company’s staff welfare and corporate culture becomes top priorities, not just for big players, but likely more critical for small and medium businesses and start-ups. Business owners and HR heads are now actively considering HR and payroll outsourcing. This should ideally provide their teams an even better same level of employee care, an automated and unified payroll, better time, attendance and benefits management. As businesses open up again, HR & payroll outsourcing is a viable move to help companies bounce back with speed and accuracy, beyond just the cost savings.

HR Outsourcing Singapore

Tags HR Outsourcing

Blogs

How a Singapore PEO Service /EOR Service Firms can benefit your Business.

Post author By hrplus
Post date January 8, 2023
No Comments on How a Singapore PEO Service /EOR Service Firms can benefit your Business.

With post-pandemic changes in the HR Industry, we are seeing the demand for Professional Employer Organisations – Singapore PEO service and Employer of Record – EOR service to continue to grow in Singapore and Asia. While it has significantly dominated the massive call center industries in India and the Philippines, more companies from multiple industries are now exploring the engagement of PEO service firms to fast track overseas market entry and minimise cost in managing their overseas HR needs. A Singapore PEO service / EOR service firm is an outsourcing firm that provides the much-needed HR support for a company where it holds operations without a full office set-up either in Singapore or in the region.

Traditionally, PEO service covers support in managing payroll, tax administration and regulatory compliance assistance. In recent years, the role of PEOs has shifted with companies requiring more support overseas. Today, PEOs may be tasked to fulfil a bigger HR role and manage the overseas staff on a company’s behalf in the foreign country via co-employment models. It is also a critical asset builder for many companies as PEO service providers now offer talent acquisition and management services. Collaborating with the right Singapore PEO service providers enables companies to tap into the right resources that fits their organisation while operating in Singapore and Asia.

Aside from cost mitigation measures, here are mission critical ways the right Singapore PEO service firm help businesses to grow.

1. Speed to Market

Business expansion will always be on the checklist for business growth. With the help of Singapore PEO firm, a comprehensive human resource services can be made available to businesses that do not have a physical presence in Singapore or regional countries in Asia. This is especially useful for companies that want to dabble in a new market in Asia but aren’t ready to commit to opening an office. Doing business with accuracy and speed can give your company a competitive advantage.

2. Better HR Operation

A company that wants to go big needs to go big in managing its people too. With Singapore PEO service, businesses can have a better HR operation that does not only after the business growth but also for the employee’s well-being. This includes better work benefits that were once for large-scale businesses but are now made possible through a PEO, better compensation, hiring and more seamless HR administrative processes.

3. Compliance

There are numerous statutory regulations governing employee benefits and the human resources profession in different countries and states in Asia. Your company must properly handle the following issues related to:

Compensation for Workers
Employee Security
Human Resources Legislation
Taxation Structure

A Singapore PEO service firms have extensive experience dealing with a wide range of compliance issues both in Singapore and in the regional countries. A reliable Singapore PEO service firms can keep your company out of legal trouble by ensuring that all HR regulations are followed.

4. Risk Mitigation

Minimising risks is a key for long-term success. Doing risk management ensures that your company is ready and doing all measures to protect your businesses from this risk. However, small businesses might be aware of the importance of risk management but most of them cannot afford to hire a risk management expertise in-house. One of the common risk sources is worker’s compensation and workplace safety issues: not being able to come up with proper policies, claims and planning on effective risk management might hinder your business success. With the help of a Singapore PEO service firms, you can have a dedicated risk management expert on-board on your team to facilitate and ease the burden to focus more on value-adding tasks. They are the people who are well-versed with the policies and laws that will help you stay away from business threatening risks.

5. Scalability

PEO can ramp up your businesses regardless of the business size. It can assist businesses in increasing their success by providing personalised and tailored solutions based on the needs of the business. A large-scale company can leverage business expansion options without taking a larger risk in a simple and low-risk manner. Small businesses, on the other hand, can enjoy competitive benefits and compensations that were previously only available to larger groups, as well as onboarding expert people without having to pay twice as much, and having more seamless operations so that they can focus on growing the business. Whatever business sizes your company is currently in, PEO solutions can be an essential part of your expansion strategy.

Collaboration with a Singapore PEO service providers such as HRPlus Consulting is definitely a game-changer for companies with their head quarters in Singapore as the right Singapore PEO partner can support its clients/partners to grow their business quickly in the South East Asian or Asian region.

Singapore PEO Service

Tags PEO Service, Professional Employer Organization (PEO), Singapore PEO Service

Blogs Featured

Top 3 HR Trends to Watch in 2023 & Beyond.

Post author By hrplus
Post date January 4, 2023
No Comments on Top 3 HR Trends to Watch in 2023 & Beyond.

The way we do work is changing. Artificial intelligence and automation will accelerate this transition in the same way that mechanization did in previous generations of agriculture and industrial. While some occupations will be lost and many new ones will be created, nearly all will change. The COVID-19 crisis accelerated existing trends and forced businesses to rethink many elements of their business.

No one is in a safe zone with digitalization and automation peeking around the corner. As this progressively takes over human workplaces, it forces organisations to embrace it and think of a way on how they can maximize and make collaboration between humans and robots, and the Human Resource industry is no exception.

Not only is technology a factor driving a shift in workplaces, but so is the influence of the Covid-19 pandemic on everyone. Organisations have, for the most part, risen to the challenges of the current crisis-era with the constant unforeseen developments, businesses are pushed to be innovative, adaptive, and resilient.

Integrating technology will be the new norm

Automation comes in a lot of forms. It isn’t just about inventing a speaking robot that wanders around the workplace, it could be as simple as a set of tools housed within common business software programs. At its core, automation is about implementing a system to complete repetitive, easily replicated tasks without the need for human labour. Therefore, automation is not just about robots and it shouldn’t be scary.

As we approach the coming years and automation is inevitable, It’s time to stop accepting HR as a department that is full of manual processes, mind-numbing repetition, piles of paperwork, and other stressors, and start enjoying the benefits of HR Automation, thus the rise of demand for HR Tech.

HR Tech or HR Technology is the application of technology to redefine fundamental HR processes like recruitment, talent management, compliance, payroll, performance management and employee engagement. According to PWC, 74% of companies are planning to increase their budget solely for HR Tech. It primarily aims to make work more efficient and faster through using these intelligent technologies in doing repeatable tasks.

As HR Tech can feel like it’s been stealing the spotlight for the human work opportunities, we should also consider how many new job opportunities are created with the help of technology. We shouldn’t look at automation as something that takes over human work but as a tool.

Embracing HR Tech as soon as possible will help your firm become future-proof. Tasks like managing benefits and payroll may be done more efficiently and effectively, freeing up your core workforce for more cognitively demanding tasks. HR technology, ironically, has the potential to make the workforce more humane by allowing professionals to better understand their employees.

Look closely with talents

We all know that automation will happen at some time in our lives, but no one really knows how to deal with it until it comes their way. To remain relevant in the future of work, automation will necessitate a significant amount of unlearning and learning processes. However, not everyone has the luxury of gaining access to the knowledge required to succeed in the future of work resulting in a skills gap.

Skills gap or the mismatch happens between employers’ expectations and employees’ ability to deliver. This raises the risk of disrupted productivity, company culture, and profitability. The skills gap is also a direct result of the rising trend of using HR Technologies in the work landscape. According to the KPMG HR Pulse Survey, 3 out of 10 will reskill, 39% will work remotely, and 2 out 10 jobs will be redundant.

However, the skills gap isn’t just regarding technological skills. It is more on developing adaptability and turning people into more flexible workers, and most especially on developing their various complex cognitive skills like people management, critical thinking, and emotional intelligence.

Identifying the skills gaps in your company can be one effective way of guiding you as to how the programs should be made, thus a higher need for a diverse and expanded talent pool of human resources. As for the jobseekers, they should also consider reskilling towards more complex cognitive skills as repeatable jobs would become obsolete in the long run.

Working from home is here to stay

Everyone experienced how disastrous the pandemic, the virus hit fast, sending much of the world into lockdown just months after it was first detected. Businesses reacted rapidly, reorganizing supply chains, adopting remote-work models, and speeding up decision making with surprising velocity.

This pandemic has given people a chance to see what it’s like to work remotely, and most of them, if not all, definitely prefer having control of their work time and it shows better productivity results compared to an in-house set-up.

Millennials are looking for meaningful work and are demanding more freedom in the workplace to pursue their passions. While it may seem to manifest with the rise of the gig economy, shared resources and remote work mobility, flexibility is expected to impact more evolved work practices beyond time, location, and remuneration.

According to Harvard Business Review, 88% of today’s knowledge workers are doing their jobs remotely. This trend is expected to continue in the succeeding years, especially since the primary human resources would be millennials in the future.

We can witness less time is spent in the office because people work at their own speed. Without a strict schedule, they can work around it as long as the output is provided on time, a critical role of employee satisfaction in attracting new employees and the value of the brand image that goes beyond the company’s mission and goals.

Tags HR Consulting Services

Blogs

The difference between Personalised Employment Pass vs Overseas Network & Expertise (ONE) Pass

Post author By hrplus
Post date December 1, 2022

As the global competition for talent heats up in the post pandemic era, the Singapore’s Ministry of Manpower (MOM) has recently announced a new work visa category known as Overseas Networks & Expertise Pass (ONE) Singapore Employment Pass. This latest work visa category is similar to the existing Personalised Employment Pass (PEP) as it is a personalised pass tied to the individual and not any employer. This articles explains the similarities and differences between this 2 types of work passes.

Overseas Networks & Expertise (ONE) Employment Pass holders are allowed to concurrently start, operate and work for multiple companies/employers at any one time. There is also no need to reapply for a new pass if the foreigner chooses to change employers. Thus, ONE Employment Pass holders are given an extremely generous employment flexibility.

On the other hand, Personalised Employment Pass (PEP) holders are required to secure an employer within 6 months from the date the pass is activated. PEP holders are not allowed to work for other employers and is strictly confined to work for the declared employer.

The following table illustrates the key difference between Personalised Employment Pass (PEP) and ONE Employment Pass and other the types of work visa available to foreign talent with effect from 1 January 2023.

	ONE Pass	PEP	EntrePass	Employment Pass
Target Candidate Profile	Top talent in business, arts and culture, sports, science and technology, and academia and research.	High-earning Employment Pass holders or overseas foreign professionals.	Eligible foreign entrepreneurs who are keen to operate a business in Singapore that is venture-backed or possesses innovative technologies.	Foreign professionals, managers and executives with a job offer.
Salary Criterion	At least $30,000	At least $22,500	Not stipulated	Minimum $5,000 and increases with age
Duration	5 years	3 years	1 year	1 to 3 years
Renewal Option	5 years	Not.	1 year for first renewal, 2 years for subsequent renewals	Up to 3 years. Possible 5 years for experienced tech professionals with skills in shortage

Both Personalised Employment Pass (PEP) and Overseas Networks & Expertise (ONE) Employment Pass applicants are not subject to employers’ assessment and eligibility framework or government mandated job advertising requirement.

However, to qualify, applicants (existing work pass holders and overseas candidates) need to show that they meet either of the following salary criteria:

Earn a fixed monthly salary of at least $22,500 for PEP holders and $30,000 for ONE Pass;
Will continue to earn a fixed monthly salary of at least $22,500 for PEP or $30,000 for ONE Pass under their future employers based in Singapore

Personalised Employment Pass (PEP) cannot be renewed while ONE Employment Pass can renew for additional 5 more years IF the applicant:

Earn a fixed monthly salary of at least S$30,000 on average over the past 5 years in Singapore, or
Started and is operating a Singapore-based company that employs at least 5 locals, each earning at least S$5,000 (pegged to the EP minimum qualifying salary).

Passes for Spouse, Partners and Children

Both PEP and ONE Employment Pass holders are allowed to bring in their immediate family to live with them in Singapore on Dependant’s Passes or Long-Term Visit Passes. The duration of these passes will be the same as the main pass holders.

Work Options for Spouse and Partners

If ONE Employment Pass holder is married, his or her spouse can also work in Singapore by simply obtaining Letter of Consent to work for a specific employer. There is no salary criteria for the approval for Letter of Consent to work.

Partners or common law spouses are also allowed to live in Singapore on Long Term Visit Passes instead of Dependent Passes. However, they are required to apply for Employment Passes on their own merits and are subjected to prevailing Employment Pass salary criteria.

The spouse and children of PEP holders can obtain dependent passes to stay in Singapore. However, for the spouse of PEP holders to work, a work permit application is required and approval will be subject to quota and levies for the employers.

Source: Singapore Ministry of Manpower

Tags Overseas Network and Expertise Pass, Personalised Employment Pass, Singapore Employment Pass

Blogs HR News HRPlus Recruitment

Are You Being Paid Fairly At Work?

Post author By hrplus
Post date October 12, 2022
No Comments on Are You Being Paid Fairly At Work?

You’ve probably been working loyally at this company for a while now. Perhaps, you’ve also been thinking of taking on additional duties too. But, are you all of a sudden wondering if you’re being paid fairly at work? Don’t worry. We’ll be sharing some useful tips that can help you figure out if you’re being compensated rightfully for your time, experience as well as skill set.

No matter how productive and efficient employees can be at work, everyone gets the jitters when it comes to asking for a salary increment. It’s natural. The need to work yourself up to the conversation with your superior can be nerve-wrecking.

And if a bump in salary is not possible, perhaps it’s now time to consider switching to a position that may offer a pay raise. In this article, we’ll be providing you with some useful tips that can help you reach your salary goals sooner than later!

Read on to find out some of the tips we have that can help you figure out what to do if you’re not being paid fairly at work!

A word of caution before we delve into the article: this written piece aims to function as a guide and should not be read as a comprehensive or exhaustive list of advice when it comes to ensuring that you’re being compensated for your work fairly. The best way to find out what may work for your success would be by conducting ample research.

Browsing through this article could function as the first step you take into exploring different ways as to how you can make sure that you are indeed being paid fairly at work.

Without further ado, let’s get right into the article!

What to do if you’re not being paid fairly at work

Highlight a key achievement and ask politely
So, what can you do if you’re not being paid fairly at work? Is there a good time to ask for a better pay? Will it ever come by? Of course, it will! But when exactly should you initiate this conversation so it works out favourably for you?

Be sure to ask about being paid fairly right after achieving a key accomplishment that was directed through your efforts and from your own end. Most of the time, individuals who successfully manage to lock in a pay increment asked for one after hitting a successful work accomplishment.

Do so especially, if you’ve spearheaded any project(s) that have worked out phenomenally. That would be the perfect time to ask!In order to clinch that salary increment though, you’d most likely need to prove that your hard work has been benefiting the organisation. Whether that’s through your ideas to improve the internal departments or whether it’s cheering your clients up, take note of timing!

Be sure to avoid stressful work periods when asking for money matters too. You don’t want to step on your superior’s toes when they’re busy and focused on a different or complicated project.

When everyone’s in a cheerier mood and is aware of your contributions to the company, that would make the perfect time for you to put in a request for a pay raise.

That said, it’s also just as important to voice out your opinion on fair pay. If you’ve been putting in extra hours or going way out of your job scope to deliver projects, it’s definitely time to ask for a pay raise.
Speak in person
A mistake that many individuals tend to make when asking for fair pay at work: emailing or worse, texting your superiors about it.

Don’t do that! You’re setting yourself for an easy ‘sorry, no/maybe/later’ response from your employers or hiring managers! Besides, setting the meeting in person will also express how serious you are about the matter at hand.

Body language is also a key communication factor that you will be able to read and study when broaching the topic. This is a key benefit that can be better achieved if you hold the conversation in-person, rather than when you hold it over a phone call or video conversation.

It is crucial that your request for a fair pay remains polite and humble. Your conversation should not come across as demanding by nature. That will automatically warrant a rejection of your request. Practice respect! It goes both ways, after all 😉

Highlight your gratitude in being able to have served the company this far and express your keenness to continue doing so. Being polite and negotiating for a fair pay in person would definitely be the way to go!
Don’t give them a number
One of the best ways to ensure that you’re being paid fairly at work is by making sure that you don’t cite a figure for your employers or human resource manager to work around.

Don’t give them a number as that will then set the bar. Instead, let them be the first to share a figure with you instead. If you are put in a position where you are being asked to share an approximate amount, block or bridge the question to a response relating to your responsibilities at the firm.

Be clear that the amount may vary depending on how much extra responsibilities will be added to your existing workload. Right after mentioning that, be sure to mention how much workload you are also available and ready to take on.

This will better allow your superiors to get a clearer idea of your expectations without actually having to spell it out for them! 😉

In conclusion, there are numerous ways that you can tap on to help you chat about being paid fairly at work. If it’s been a while since your last salary increment, highlight the need to match your pay to your current responsibilities.

Worst case scenario, maybe it’s time for you to bring your talents to another workspace where they’d be more willing to ensure that you’re being paid fairly! It’s entirely up to you.

After all, each job will have its own perks and benefits to offer! With all that being said, we have to come to the end of this article. We hope this written piece has provided you with some insights as to what are some of the steps you can take to help you get a fair pay at work.

We hope the above 3 pieces of advice on how to ensure that you’re being compensated fairly at work, is useful to you! And of course, while you’re at it, you can always hop around job sites to check out what positions are open too!

In the meantime, if you’re on the lookout for fresh grad job opportunities or a side-hustle, visit GrabJobs.

Tags Professional Employer Organization (PEO)

Blogs

What is Professional Employer Organization (PEO) Service?

Post author By hrplus
Post date October 1, 2022
No Comments on What is Professional Employer Organization (PEO) Service?

What is Singapore PEO Professional Employer Organization Service?

A Singapore PEO professional employer organization company is a legally registered company in Singapore or employer in Singapore that enters into a joint employer relationship with another employer/company/client which may not necessarily be based in Singapore. The client of the Singapore PEO service company typically hires the employee and outsource the human resource management functions to the PEO Company including employment engagement contract according to Singapore’s employment practices. The Singapore PEO company shall be responsible in managing the employment engagement in accordance with Singapore’s Ministry of Manpower practices, rules and regulations throughout the duration of the agreed contract period.

What is Employer of Record (EOR)?

As the words suggest, Employer of Record (EOR) refers to the legal employer on the record, in the case of Singapore, a company legally registered in Singapore for the purpose of employment engagement, complying with local employment regulations, contribution to pension funds namely the Singapore’s Central Provident Fund (CPF), insurance policies, benefit management and Singapore work pass and visa matters if the hired employees requires work authorisation.

What is the difference between PEO and EOR?

PEO refers to the services provided by a professional HR services firm for its clients while EOR refers to the actions and scope of work provided which include processing and paying wages, contributions to pension funds (such as Singapore’s Central Provident Fund) , and other statutory and Singapore’s employment law compliances for the jointly hired employee.

Why engage PEO / EOR Service ?

Quick start to hiring employees in Singapore without the need or hassle of having to set up a company in Singapore.
Short term project work or business exploration work with no plans to continue with business presence once project has ended.
Local companies that have no management mandate to increase headcount despite operational manpower requirements due to sudden increase in work load or projects.
Due to the changing nature of employment relationship, there is an increasing prevalent of employees engaged through employer of record.

Tags Professional Employer Organization (PEO)

Blogs MOM Singapore Work Pass

Alternative Types of Work Passes to Singapore Employment Pass.

Post author By hrplus
Post date January 10, 2022
No Comments on Alternative Types of Work Passes to Singapore Employment Pass.

For example, foreigners may be able to qualify for S Pass work visa which requires lower salary, less stringent academic qualification and skills criterions.

S Pass

With effect from November 2020, employers with 10 or more employees are required to advertise their job vacancies at the government administered portal known as https://employer.mycareersfuture.sg/ for at least 28 days weeks before they can submit an application for S Pass for foreign candidates in the event they are not able to find any suitably qualified local candidates.

Work Permit

Personalised Employment Pass (PEP)

Entreprenuerial Pass (Entrepass)

Applicant can demonstrate successful business track record in high value and scalable businesses.
Applicant has special expertise not available locally and has been recognized internationally.
Applicant is willing to invest substantial funds, grow the business by hiring local professional staff.

Tags Entrepass, Personalised Employment Pass, S Pass, Work Permit

Blogs

What is a PEO? What are its advantages and disadvantages?

Post author By hrplus
Post date December 10, 2021
No Comments on What is a PEO? What are its advantages and disadvantages?

A professional employer organization (PEO) is an organization that enters into a joint-employment relationship with an employer by leasing employees to the employer, thereby allowing the PEO to share and manage many employee-related responsibilities and liabilities. This allows employers to outsource their human resource functions, such as employee benefits, compensation and payroll administration, workers’ compensation, and employment taxes.

PEOs typically serve as a professional employer of their clients’ employees. The client company reports its wages under the PEO’s federal employer identification number (FEIN), and employee liability shifts to the PEO. Employers gain economies of scale by having more benefits options, sometimes at lower rates.

Depending on the PEO and the contract, a few or all of the HR functions can be outsourced. An administrative services outsourcing (ASO) agreement provides options for companies that are not interested in co-employment but want some of the outsourcing benefits.

There can be significant advantages of a PEO, especially for a small employer that may not have the breadth of HR expertise or systems capabilities for functions such as payroll and HRIS, or the time and resources available to focus on many of the transactional HR functions.

The burdens a PEO can relieve from HR include the following:

Benefits administration.
Recruiting and hiring.
Payroll administration.
Unemployment administration.
Workers’ compensation administration.
Compliance assistance.
Drug testing programs.
Family and Medical Leave Act administration.

Some of the disadvantages might include the following:

Loss of control of essential processes and people.
An outside company’s influence on your culture.
Diminished value of internal HR department.
Lack of control and security over employee paperwork.
A loss of institutional knowledge.
Security issues with the vendor’s system.
Resistance from employees.

What are PEO services and how does it work?

PEO services help you get the peace of mind that comes with the expertise of a full-service HR department.

PEO services take care of HR requirements such as:

Essentially, you’re outsourcing your HR burdens to a third-party but you’re still in control of managing your employee’s job functions.

5 ways PEO services can support your business during a pandemic

1. Higher revenue growth and business continuity

A reputable PEO services provider will have systems and processes in place to help its clients maintain business as usual, even during a pandemic.

Although the pandemic is chaotic and may result in lower revenue, PEO services can assist businesses in overcoming any unexpected obstacles that prevent you from paying your employees on time or preventing them from accessing and using their benefits so that you can focus on growing your business.

2. Saves time by eliminating administrative processes

Keeping up with the numerous regulatory iterations is an important aspect of human resources.
In the midst of the COVID-19 pandemic, the Singapore government enacted new legislation to assist employers and employees, such as changing regulations governing second job arrangements.

The Ministry of Manpower (MOM) also implemented Safe Management Measures (SMM) at the workplace and revised their guidelines for salary and leave arrangements in light of the COVID-19 pandemic.

The numerous amendments in employment laws and regulations due to the pandemic, make it hard for business owners to effectively manage their businesses and monitor the changes.

Therefore, PEO services would enable business owners to eliminate the administrative processes of having to monitor the changes in employment laws and regulations.

3. Enables business owners to have 100% focus on their business and customers

The time saved on eliminating administrative processes enables business owners to focus on their business and revenue growth as well as ensuring customer satisfaction during these trying times.

4. Saves money and lower employee turnover

PEO services assist businesses in saving money by implementing better hiring practices that decrease turnover.

Better hiring practices also allow businesses to attract and retain better talent, further reducing employee turnover.

5. Safeguards your employees

PEOs understand the importance of retaining the best talent and reducing employee turnover.

As a co-employer, if you use the services of a PEO, they will be invested in helping you keep your employees safe. In a crisis, this is especially important.

Guide to choosing a reputable PEO in Singapore

If you’re looking for a PEO to help you offload your HR burdens, here’s what you should do to ensure you’re getting a reputable PEO services provider:

Examine your workplace to see what kind of human resources and risk management you’ll need.
Make sure the PEO can help you achieve your objectives. Meet the individuals who will be assisting you.
Ask about previous clients and professional references.

At Rikvin, we can provide you with the essential PEO services and help scale your business even amid the ongoing pandemic. Contact us to learn more.What is a professional employer organisation (PEO), and what does it do?

A Professional Employer Organisation (PEO) is a corporation that provides businesses with outsourced services.A company may, for example, hire a PEO to help with management responsibilities including benefits administration, hiring, and payroll.

Can small businesses engage PEO services?

Yes, with a PEO service, small businesses may quickly access staff resources and have HR specialists manage their employees for a fraction of the expense of hiring their own HR team.

How can PEO services help businesses during COVID?

Amid COVID-19, PEO services can help your business in these key areas:

Higher revenue growth and business continuity
- Eliminate administrative burden
- Enable business owners to have 100% focus on clients and business growth
- Save money and lower employee turnover
- Safeguard your employees

What is not covered under PEO services?

Day-to-day management of the team
The co-employment structure of a PEO allows for a variety of activities to be delegated; however, the day-to-day operations of the company remain largely your responsibility, particularly the management of your team and their operations.
- Legal and tax advisory
  While PEOs assist with a variety of HR-related tasks, as a business owner, you must still be informed of all applicable regulations and compliance requirements that apply to your company and employees.

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