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Will higher cost of foreigners spur hiring of more locals?
From September, employers who hire foreign workers on Employment Passes and S Passes will have to pay higher minimum salaries. Is it enough to nudge them to hire more locals or will it affect their business plans? The Straits Times examines the impact on the retail, F&B, infocommunication and finance sectors.
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Calvin Yang
Employers looking to hire foreign workers will - yet again - have to grapple with paying them higher minimum wages, as Singapore bumps up salary thresholds for new Employment Pass (EP) and S Pass applicants for the third time in less than three years.
The latest changes will see these qualifying salaries go up by $500 from September, Finance Minister Lawrence Wong announced in his Budget speech on Feb 18.
