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IMPACT – MEDIUM
What is the change? In anticipation of the new Fair Consideration Framework, the Ministry of Manpower (MOM) is reminding employers to register for a Jobs Bank account.
What does the change mean? Starting Aug. 1, companies will not be able to apply for Employment Passes until they have registered an account and advertised the position on the Jobs Bank.
Background: MOM is advising companies to register immediately on the government’s Jobs Bank so that they may be eligible to apply for Employment Passes under the Fair Considerations Framework that starts Aug. 1. The Framework requires that employers post vacancies on the Jobs Bank for at least 14 days before they may apply for Employment Passes. Companies with 25 or fewer employees, however, are exempt from the Framework.
BAL Analysis: Employers should allow four weeks to set up an account and advertise a job on the Jobs Bank.
This alert has been provided by the BAL Global Practice group in Singapore. For additional information, please contact singapore@bal.com.
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