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SINGAPORE: Updates on Workforce Insights Tool for COMPASS
December 1, 2022
As we are approaching 2023, we have received more updates on the upcoming COMPASS framework to be implemented from 1 September 2023. As a quick refresher – from 1 September 2023, EP candidates must pass a two-stage eligibility framework. In addition to meeting the qualifying salary (Stage 1), EP candidates must pass a points-based Complementarity Assessment Framework (COMPASS) (Stage 2). We are pleased to inform that the workforce insights tool in the myMom Portal is now ready for use.
This tool provides benchmarking insights to help your firm with workforce planning and hiring decisions. This includes insights on your firm’s workforce profile, industry benchmarks for salary and non-monetary benefits based on MOM survey data, and links to resources to support better human capital practices. This tool can be accessed on myMom Portal via your firm’s Corppass access.
This enhanced tool includes charts on how your firm will perform on COMPASS firm-related attributes:
- Under Diversity, the share of nationalities among your firm’s PMETs, and corresponding diversity points under COMPASS.
- Under Local PMETs, your firm’s local PMET share compared to other firms in your sector, and corresponding Support for Local Employment points under COMPASS.
Newland Chase Insights
As always, don’t hesitate to reach out to your Newland Chase dedicated contact or submit an inquiry here should you have any specific questions regarding this announcement.
