Singapore’s struggle with retaining talent

While attracting talent is a challenge, retaining talent seems to be the bigger challenge in Singapore which is now proving to be a serious issue for many employers. Singapore is continuously striving towards improving its economic conditions such as the cases of no hike in the salaries for over twelve months. As Robert half rightly said many companies are facing the problem of raising hikes in salaries due to the many uncertain market conditions.

The question being if countries like china who have many PhD holders as well people qualified enough to make their own inventions are still looking for foreign talent, the whole issue of attracting and retaining talent is crucial and fragile for any nation. According to Mr.lee, any country regardless of its strength and availability of natural resources, the search for more talent is like an addiction. Hence to compete on a global scale and for the well being of the country there are a few approaches that have been sorted out by Mr. Lee who has defined it through a few important principals-

The belief that a country can progress and rise to heights making use of its own human capital and talent. No country is perfect, but is never impossible to correct one’s own mistake. This is why Mr. Lee has rightly said that Singapore poured in enough funds for school education so to improve the curriculum of the schools and thereby bring about a change.