Article
2 min read
Global Hiring: Singapore’s Strategy to Stay the World’s Most Competitive Economy
Employer of record
Global hiring
Author
Mark Samlal
Last Update
February 05, 2025
Published
February 05, 2025
Key takeaways
- Despite being the world’s most competitive economy in 2024, Singapore struggles to find qualified AI professionals, which threatens its ambition of becoming a global AI hub.
- Over 93% of large organizations in Singapore are open to hiring international talent, recognizing that global hiring not only fills skill gaps but also enhances skills transfer, reskilling, and upskilling of the local workforce.
- Remote and hybrid work models, coupled with global hiring platforms like Deel, allow organizations to easily find, hire, and manage top talent worldwide—boosting innovation and economic growth.
Singapore was ranked the most competitive economy among the world’s eight major regions in 2024, showcasing excellence in economic performance, infrastructure, and a skilled workforce.
To maintain this status, the country plans to adopt advanced technologies, become a global AI hub, support business transformation, and facilitate workforce reskilling. However, the shortage of local tech talent poses a challenge.
Many organizations in Singapore struggle to find qualified AI professionals, including principal data engineers, data analysts, and lead AI scientists, according to a study by Oliver Wyman and the Monetary Authority of Singapore (MAS).
Embrace the global talent pool
To maintain its competitive edge and fulfill its ambition of becoming an AI hub, Singapore’s organizations must leverage their international networks and collaborate with top talent worldwide.
A recent Deel study found that over 93% of large organizations in Singapore are open to hiring international talent. The report further indicated that 58% of respondents recognize skills transfer as a significant benefit of global hiring, which contributes to reskilling and upskilling the local workforce to adapt to a rapidly evolving digital economy.
This commitment to global recruitment and skill exchange positions Singapore to make notable advancements in AI and boost its economy and competitiveness. By boosting competitiveness, Singapore can attract more global investors, cultivate a dynamic business environment, and promote sustainable economic growth, ultimately enriching the lives of all its citizens.
See also: APAC’s Business Leader Pulse Check: Workforce and Hiring Report
Deel Employer of Record
Hire global talent with Deel
Talent is abundant across the globe, and organizations are increasingly recognizing this fact.
The rise of hybrid and remote work models has eliminated geographical barriers, allowing highly skilled professionals to seek opportunities without the constraints of location.
Furthermore, innovative technologies like Deel’s global hiring platform empower organizations of all sizes to effortlessly hire, compensate, and manage top talent, streamlining the entire process.
With Deel’s all-in-one platform, you can:
- Pay anyone, anywhere, in minutes
- Expand your team and hire globally
- Consolidate your HR operations
- Simplify, speed up, and scale global IT operations
- Set your team up for success with performance tools
- Attract and retain talent with immigration support
Sound like the ideal solution? Book 30 minutes with a product expert to get your questions answered.
This article was originally published on e27: How global hiring accelerates a country’s competitiveness
About the author
Mark Samlal is the General Manager of APAC at Deel. He is a founder, investor and has over 25 years’ experience in growth leadership roles in Asia Pacific. He co-founded PayAsia in 2006, serving as Non-Executive Chairman before stepping into the roles of Executive Chairman and Managing Director in 2015. Under his leadership, PayGroup, which he became the Managing Director of in 2017, listed on the ASX in 2018 and grew through multiple acquisitions before being acquired by Deel Inc in 2022.
