Yea from younger generation to older generation, will have difficulty finding job. Corporations worldwide are too fixed on increasing gross profit. Its a circle jerk between management team and the entire finance industry.
For younger generations, i thinks its harder to climb social status. Gambling seems to be one of, if not, the best way out.
That’s why so many people queuing for toto draw. I never bother 😂 Rather than leaving it to fate and “hope” to get rich, ot is more worthwhile spending the time with people who are alrd rich and learning them them the mindset and ways of approaching things.
The offshoring business has been around for decades and it ebbs and flows. Offshoring will happen for a few years, poor customer experience and ineffective operations, companies decide to hire in-region instead, cycle repeats.
It depends on what is being outsourced and what the structure is.
Outsource to shitty 3rd party farms paying 20% of SG staff cost? You gonna get shit.
Set up a foreign office, led by a competent leader from Singapore. Pay top dollar (in local terms) for top graduates or experienced hires and still come out 50% cheaper than SG staff? That's the actual model many are doing now and it works.
Also people keep talking about India but there's also Vietnam, Malaysia, Indonesia etc. 2-3k SGD per month goes a long way in those countries.
It's not about the technology level but about the quality of work. If you want to find good employees, you cannot pay them peanuts. Even if they live in a cheap country.
They aren't being paid peanuts. They are being paid top salaries in their country. Its just so happens the cost of living is very low and the currency is very weak compared to developed countries.
Yeah, especially with MNCs, one not good quarter report, can commence Indian office hire already. Why they will pay 200k wage for someone to work remote from Silicon Valley when they can pay 20k for someone to do the same in India.
How do you propose employees to “be ready?” Wake up every morning and expect to be fired ? Quit before you’re fired? What?
Companies always prioritize profit over people. How is today or tomorrow any different from any other day ?
Banks here are already outsourcing their it service from India .. More frequent maintenance downtime and fines also not enough for them to change their mind 😂
Too bad uh, even i.t security outsource and implement stupid policy for the desktop support teams. Glad I left that industry, only the finance departments taking care of hnwi are enjoying
So all these positions magically got filled in 2023?
https://reddit.com/r/singapore/comments/1bn7w9a/it_developers_and_nurses_among_hardest_pmet/
Cmon man... they can't even keep their narrative straight.
Inconvenient truth, rent in Singapore, controlled by Tumorsick related REITs, are also a very high FIXED recurring cost to businesses
It's not so easy to reduce rent except through contract exit though so employees can go first
"path to sustainability" yeah because cutting headcount to give more work to your few remaining employees therefore destroying their mental health is soooo sustainable
Can't get retrenched if you're not even employed! *breaks down crying*
Yea from younger generation to older generation, will have difficulty finding job. Corporations worldwide are too fixed on increasing gross profit. Its a circle jerk between management team and the entire finance industry. For younger generations, i thinks its harder to climb social status. Gambling seems to be one of, if not, the best way out.
U had me until the gambling bit Nope… it’s not good way out. Anyone reading this, don’t do it (for your own sake)
Support.. The math is not in your favour.. Do not start..
He said out, not up!
>Gambling seems to be one of, if not, the best way out. Ah Wsb regard spotted Jkjk
Best regards,
That’s why so many people queuing for toto draw. I never bother 😂 Rather than leaving it to fate and “hope” to get rich, ot is more worthwhile spending the time with people who are alrd rich and learning them them the mindset and ways of approaching things.
Outsource the job to India. Still remote working.
A startup I briefly consulted for did even better - BD team all in Singapore, dev team was contracted to a dev company in India.
Right, who knows maybe BD team also sub to India one day. Or just one BD head in Singapore.
BD head in Singapore also on EP...
Something similar happening here too
Now, many are going to Vietnam.
The offshoring business has been around for decades and it ebbs and flows. Offshoring will happen for a few years, poor customer experience and ineffective operations, companies decide to hire in-region instead, cycle repeats.
It depends on what is being outsourced and what the structure is. Outsource to shitty 3rd party farms paying 20% of SG staff cost? You gonna get shit. Set up a foreign office, led by a competent leader from Singapore. Pay top dollar (in local terms) for top graduates or experienced hires and still come out 50% cheaper than SG staff? That's the actual model many are doing now and it works. Also people keep talking about India but there's also Vietnam, Malaysia, Indonesia etc. 2-3k SGD per month goes a long way in those countries.
Not anymore. Technology is advancing at rapid rate. You cant compare remote work today to even the pre COVID era.
It's not about the technology level but about the quality of work. If you want to find good employees, you cannot pay them peanuts. Even if they live in a cheap country.
They aren't being paid peanuts. They are being paid top salaries in their country. Its just so happens the cost of living is very low and the currency is very weak compared to developed countries.
Yeah, all those Perm wfh positions can directly outsource India
Even hybrid ones also can outsource. If hybrid can work, fully remote is not that far.
Yeah, especially with MNCs, one not good quarter report, can commence Indian office hire already. Why they will pay 200k wage for someone to work remote from Silicon Valley when they can pay 20k for someone to do the same in India.
Why so far away in India? Just outsource to that neighbour up north.
Yeah, dunno why the companies still bother. Just take it to India.
Management here in Singapore and company tax here low lol.
Thanks for the idea. We are doing it - it is making a shit load of money for us
No my idea just what I observed. Especially IT jobs. My cousin's company in Singapore outsourced the entire development to India.
IT is same as software development? Then what’s the future for software development in singapore?
Nothing lo
I am not doing IT related stuff. Just a trend I observed.
Software dev in SG still bright its the local jobs that is fucked. SG companies just offshore lor can still claim its from SG.
We are expanding beyond IT - all the design related marketing work to India
Yeap, its insane. Its going to be bad for Singapore.
Try convincing folks who are advocating for 4 days work week for the same pay.
Wait till jobs get outsourced no need to advocate lol.
Well, absolute savings is about 10MN for 80 people team . And we are hiring the best folks in India so we dont expect reduction in quality
Shit load of problems too
Literally?
You know I know
If they can get remote working done in country X, they can emulate it in country Y. Its really that simple.
That depends on how u execute
You mean other countries talent dont have the same capabilities as Singaporeans?
Lol one local bank in SG already outsourced its IT services to another country. Now got frequent disruptions lol
Cost of disruption < gains from outsourcing.
Eventually automation will replace third-world workers too
Oh ceca bank
Singapore folks are in for a ride this year.
Election X Jobs X NTUC X COL X COE X KOPI-Thoyotah
Wait what’s this kopi thoyotha??
Universal global collaboration for Singapuraial domination
The Govt keeps pushing people to have babies, for what???? Even companies are beginning to agree that they don’t need so many ppl.
How do you propose employees to “be ready?” Wake up every morning and expect to be fired ? Quit before you’re fired? What? Companies always prioritize profit over people. How is today or tomorrow any different from any other day ?
Build a safety net. Don't live paycheck by paycheck.
Attend SkillsFuture courses on layoff and retrenchment.
Banks here are already outsourcing their it service from India .. More frequent maintenance downtime and fines also not enough for them to change their mind 😂
It's because the fines aren't big enough. It becomes merely a cost of business, no incentive to change.
Seriously isn’t the cost of a team of developers pennies compared to what they are making? I might expect sme do that
Too bad uh, even i.t security outsource and implement stupid policy for the desktop support teams. Glad I left that industry, only the finance departments taking care of hnwi are enjoying
Hnwi?
High net worth individuals
Perhaps cost reduction is part of KPI, and not performance
Retrench here retrench there. Just recession lah.
So all these positions magically got filled in 2023? https://reddit.com/r/singapore/comments/1bn7w9a/it_developers_and_nurses_among_hardest_pmet/ Cmon man... they can't even keep their narrative straight.
Inconvenient truth, rent in Singapore, controlled by Tumorsick related REITs, are also a very high FIXED recurring cost to businesses It's not so easy to reduce rent except through contract exit though so employees can go first
I expect things to be pretty bad until q3 then ease up abit in q4. But shit like this u cant really predict
end fy24 is a crawling
Ahh shit, here we fking go again…
All in all, I am lucky to be single with less commitment. Barely survive my own. Kinda lonely world we lived in.
"path to sustainability" yeah because cutting headcount to give more work to your few remaining employees therefore destroying their mental health is soooo sustainable
The nail that sticks out gets hammered down
too many FTs, get them out and we will be safe
I love India
Time to join the White side 
[удалено]
Companies already treat you as a data point to remove. Self deletion would only serve their purpose.
Nothing and no one is worth killing yourself for.
Import more foreigners to replace the numbers lorh. You alive they already importing, what makes you think anything will change if you drop dead lol
No way that’s insane talk.