SINGAPORE: The National Jobs Bank, which was set up in 2014 to support the implementation of the Fair Consideration Framework, will be transformed into an “online marketplace”, said Manpower Minister Lim Swee Say in Parliament on Monday (Oct 10).
The Fair Consideration Framework stipulates that employers must put up placement ads on the Jobs Bank portal for 14 days to look for a suitable Singaporean candidate, before hiring a foreigner on an Employment Pass.
Responding to a question by MP Tan Wu Meng, Mr Lim said the Government “(does) not intend to make it mandatory for all companies to post all job vacancies on the Jobs Bank and to report all hiring outcomes to MOM”.
Instead, Mr Lim said the National Jobs Bank will evolve into “a one-stop and non-stop online marketplace”, which brings together jobseekers and employers.
“Jobseekers will be able to explore new career opportunities and conduct job searches on their own … anytime, anywhere without having to wait for the next job fair. They can be young adults looking for their first jobs, mid-careers looking for their next careers, or mature workers looking to remain active,” he elaborated.
“In time to come, when the online marketplace is ready, we hope to be able to create a ‘pavilion’ for the mature workers,” added the Manpower Minister, without providing a timeline.
As for employers, Mr Lim said that those who wish to hire a foreigner on an Employment Pass will have to go through the National Jobs Bank, so in effect, “their presence in the marketplace will be mandatory”.
He added that for employers looking to hire locals, the aim is to make the marketplace so attractive that many of them will sign up for it on a voluntary basis.
According to Mr Lim, the National Jobs Bank currently has 180,000 registered users and 25,700 employers on board. There are 60,000 active jobs at any given time, and it received about 7,000 job applications a day.