About eVisas, Credit Suisse, and Jobs: HR News Roundup for March 2023
The first quarter of 2023 is almost over. Time sure flies, doesn’t it? We round up the top HR news stories of March 2023.
Image credit: Malaysia Airports
Malaysia’s eVISA System Now Available in Singapore
Malaysia’s eVISA system can now be accessed in Singapore by any nationalities that require a visa to enter Malaysia. It offers Single Entry Visa (SEV) and Multiple Entry Visa (MEV) options. Applicants can apply via the Immigration Department of Malaysia’s website.
Image credit: Denis Balibouse/Reuters
Credit Suisse Employees Desperately Looking for New Jobs
Bankers employed by embattled Swiss bank Credit Suisse have been reportedly been inundating headhunters with calls after its takeover by rival UBS. Employees are said to be feeling frustrated by the bank's ongoing restructuring plans, with one source claiming they had been told their roles were safe only to find themselves in the redundancy line. The bank has said it plans to cut costs by CHF1.2 billion (US$1.3 billion) this year, primarily through reducing staff numbers.
Indonesia Passes Jobs Decree
Indonesia's parliament has passed a controversial jobs decree into law, which aims to boost foreign investment by simplifying business permits and cutting red tape, while also relaxing labour protections. The law has faced widespread opposition and protests from labour unions and civil society groups, who argue that it will hurt workers' rights and make it easier for companies to exploit them. The government has defended the law, saying it is necessary to create jobs and spur economic growth in the country, which has been hit hard by the COVID-19 pandemic.
Tech Jobs Dominate Best Jobs in 2023
Indeed, one of the world's largest job search engines, has released its list of the best jobs of 2023 based on salary, job opportunities, and growth potential. The top three jobs on the list are in the tech industry: machine learning engineer, data scientist, and cybersecurity specialist. Other notable jobs include digital marketing specialist, renewable energy technician, and healthcare administrator. The pandemic has accelerated the demand for jobs in technology, healthcare, and renewable energy, which are expected to continue to grow in the coming years.
Image credit: Lim Huey Teng/Reuters
Unemployment Falls in Malaysia
According to the Department of Statistics Malaysia (DOSM), the number of employed persons in Malaysia increased by 28,900 in January 2023 compared to the previous month. The labour force participation rate also increased by 0.1 percentage point to 68.9%, while the unemployment rate remained unchanged at 4.1%. The services sector continued to be the largest employer, accounting for 56.3% of the employed persons, followed by the manufacturing sector at 17.3%. The DOSM also reported a rise in the average monthly salaries and wages of employees, with the mean salary increasing by 2.5% and the median salary increasing by 3.0% compared to the same month in the previous year.
Image credit: Swapnil Bapat/Unsplash
Singapore Employers That Hire Foreign Nationals Must Confirm Their Academic Credentials.
Starting September of this year, companies in Singapore that hire foreign nationals will be required to verify the educational qualifications of their employees through a new verification system, according to a statement by the Minister of Manpower Tan See Leng. This system will help employers ensure that the foreign workers they hire have the necessary skills and qualifications for their jobs, while also preventing the use of fake degrees and certificates. The system will be implemented gradually, starting with selected industries and expanding to cover all sectors by 2024. Companies that fail to comply with the new regulations may face penalties, including fines and restrictions on hiring foreign workers.
Learn how BrioHR can simplify HR for your business by getting a free demo here.
The first quarter of 2023 is almost over. Time sure flies, doesn’t it? We round up the top HR news stories of March 2023.
Malaysia’s eVISA System Now Available in Singapore
Malaysia’s eVISA system can now be accessed in Singapore by any nationalities that require a visa to enter Malaysia. It offers Single Entry Visa (SEV) and Multiple Entry Visa (MEV) options. Applicants can apply via the Immigration Department of Malaysia’s website.
Credit Suisse Employees Desperately Looking for New Jobs
Bankers employed by embattled Swiss bank Credit Suisse have been reportedly been inundating headhunters with calls after its takeover by rival UBS. Employees are said to be feeling frustrated by the bank’s ongoing restructuring plans, with one source claiming they had been told their roles were safe only to find themselves in the redundancy line. The bank has said it plans to cut costs by CHF1.2 billion (US$1.3 billion) this year, primarily through reducing staff numbers.
Indonesia Passes Jobs Decree
Indonesia’s parliament has passed a controversial jobs decree into law, which aims to boost foreign investment by simplifying business permits and cutting red tape, while also relaxing labour protections. The law has faced widespread opposition and protests from labour unions and civil society groups, who argue that it will hurt workers’ rights and make it easier for companies to exploit them. The government has defended the law, saying it is necessary to create jobs and spur economic growth in the country, which has been hit hard by the COVID-19 pandemic.
Tech Jobs Dominate Best Jobs in 2023
Indeed, one of the world’s largest job search engines, has released its list of the best jobs of 2023 based on salary, job opportunities, and growth potential. The top three jobs on the list are in the tech industry: machine learning engineer, data scientist, and cybersecurity specialist. Other notable jobs include digital marketing specialist, renewable energy technician, and healthcare administrator. The pandemic has accelerated the demand for jobs in technology, healthcare, and renewable energy, which are expected to continue to grow in the coming years.
Unemployment Falls in Malaysia
According to the Department of Statistics Malaysia (DOSM), the number of employed persons in Malaysia increased by 28,900 in January 2023 compared to the previous month. The labour force participation rate also increased by 0.1 percentage point to 68.9%, while the unemployment rate remained unchanged at 4.1%. The services sector continued to be the largest employer, accounting for 56.3% of the employed persons, followed by the manufacturing sector at 17.3%. The DOSM also reported a rise in the average monthly salaries and wages of employees, with the mean salary increasing by 2.5% and the median salary increasing by 3.0% compared to the same month in the previous year.
Singapore Employers That Hire Foreign Nationals Must Confirm Their Academic Credentials.
Starting September of this year, companies in Singapore that hire foreign nationals will be required to verify the educational qualifications of their employees through a new verification system, according to a statement by the Minister of Manpower Tan See Leng. This system will help employers ensure that the foreign workers they hire have the necessary skills and qualifications for their jobs, while also preventing the use of fake degrees and certificates. The system will be implemented gradually, starting with selected industries and expanding to cover all sectors by 2024. Companies that fail to comply with the new regulations may face penalties, including fines and restrictions on hiring foreign workers.
Learn how BrioHR can simplify HR for your business by getting a free demo here.
