Singapore drops to 7th worldwide in ability to attract and retain talent
The country fell five spots to seventh in a global talent competitiveness ranking, with weaknesses in education spending and cost of living offsetting strengths in readiness.
www.channelnewsasia.com
From the article, I found this worrying (for now): "Professor Misiek Piskorski, dean of executive education at IMD, noted that organisations are relocating to neighbouring countries such as Indonesia, Malaysia, Thailand and Vietnam, which have become more stable and prosperous, and companies can get a 'similar quality workforce for a much lower price'."
When I first start work in IT, it was mainly PRC and Pinoy. Then it was the Indians. Then now it is Burmese and Vietnamese… this is fact. Technically they are as good as us. Language wise their English is not bad also.
This is what happens if you harp on the 1960s notion that Singapore only has people as its resource and neglected building up other competitive strengths. If we keep clinging to that old playbook and fail to build world-class industries, cutting-edge research, and homegrown technology, and if we don’t create ecosystems that allow innovation, entrepreneurship, and capital to thrive, we’ll be stuck producing top students (and importing people) who end up working for foreign companies that own the patents, the platforms, and the profits. Without upgrading our strategy, we risk becoming a nation of well-trained employees in someone else’s economy.
"Singapore’s sharpest decline was in the investment and development pillar, where it dropped from 22nd in 2024 to 30th place. This pillar considers factors such as public education spending, pupil-to-teacher ratios and the implementation of apprenticeships. Another weakness was the high cost-of-living under the appeal pillar, where Singapore ranked 65th." No surprises here.
Singaporeans fail to understand the gap between us and our neighbours are smaller than ever today.
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