Debated in Parliament on 20 Oct 2022.
Mr Yip Hon Weng asked the Minister for Manpower in measuring the success of the Overseas Networks and Expertise (ONE) Pass, whether the Ministry will take into consideration (i) the profitability and success of organisations that hire ONE Pass talents in comparison to their past performance or competitors, (ii) the maintenance or increase in the ratio of Singaporean to foreign talent in top roles and (iii) the increase in the overall number of Singaporean employees following its expansion.
We expect Overseas Networks and Expertise (ONE) Pass holders to bring in the networks, skills and expertise to help companies grow and thereby create more good jobs for Singaporeans, including in leadership positions. To this end, the indicators the Member has raised are relevant. We will monitor these indicators closely.
However, we should be mindful of the limitations of assessing the contributions of ONE Pass holders at the micro level of an individual company’s performance. A company’s profitability and hiring outcomes are affected by a wide range of factors, including individual company decisions, business cycles, sectoral trends and various regulations. To conduct a rigorous study controlling all these factors to isolate the impact of ONE Pass holders on a firm’s performance would be impractical.
Furthermore, Singapore benefits from ONE Pass holders beyond their contributions to individual companies. By anchoring them here, we seek to build a rich network of markets, people and ideas. It is, therefore, important not to just focus on these micro factors nor to let them constrain us in securing exciting opportunities for Singapore and Singaporeans at the macro level with the ONE Pass. If we grow our economy successfully, more Singaporeans will benefit from these opportunities, including at the leadership levels. Together, MOM, MTI and the economic agencies will monitor how Singapore performs at the macro level. This includes the competitiveness of our Singapore economy and the good employment outcomes for our locals.
PAPERCUTS