SINGAPORE - Working experience abroad helped pave the way to success for Mr. Tan Wern-Yuen, who began his first stint abroad as the director of McDonald's in Taiwan.
He then became the chief executive of retail giant Walmart China, where he led a team of 100,000 employees responsible for more than US$10 billion (S$14 billion) in annual sales.
Mr Tan is currently back in Singapore where he is the chief executive of PepsiCo Apac and directs the global food and beverage company's operations in Asia-Pacific.
He was cited by Manpower Minister Tan See Leng as an example of a Singaporean who ventured abroad to gain valuable experience, and now occupies a leadership position in a global company.
"We need more Singaporeans to do the same," Dr Tan told parliament on Monday. "Our agencies have good programs to support this," he added.
He said the country's policy of attracting global talent also aims to accelerate the development of its own local talent pool.
For example, Compass takes into account a company's local share of PMETs — professionals, managers, executives and technicians — when evaluating its Employment Pass (EP) applications, he noted.
Compass is a points-based framework that evaluates EP applicants against a range of criteria, such as the applicant's salary relative to local standards and whether the candidate enhances the diversity of nationalities in the company.
“We will complement this with investments in our local employees, to help them succeed,” added Dr Tan, referring to Singapore's 23 Industry Transformation Maps that identify high-demand jobs and develop strategies to build a local talent pipeline for them. to build.
Jobs Transformation Maps also provide insight into the impact of technology on the industry and workforce, the minister said. "With these insights, companies can redesign and improve functions and equip their employees with the skills they need."
He made these points in a ministerial statement on improvements to Singapore's work pass framework to better attract top talent and professionals worldwide.
He mentioned multi-agency programs to help develop and promote local talent abroad, such as the Monetary Authority of Singapore's Asian Financial Leaders Scheme, which co-finances promising local financial sector workers and directs them toward leadership programs.
dr. Tan had also announced a new Singapore Global Executive Program during this year's budget debate that will help local businesses build a pipeline of young local talent with the potential to take regional or global leadership positions.
Leadership development should be driven by local businesses and business is doing its part too, he added.
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