Poll shows 64% of companies expect more cross-border movement of staff within Asia

A PricewaterhouseCoopers (PwC) survey has found that some 64 per cent of multinational companies polled expect more cross-border movements of staff within Asia in the next two years for short term assignments.

The poll also found that more expatriates are willing to take on pay packages that have a mix of local and expatriate terms.

The survey also reflected that seven in ten companies have named Singapore as the location of choice for their staff.

James Clemence, partner, PriceWaterhouseCoopers, said: "Singapore has always been a popular location for expatriates. I think the government has taken many positive steps to encourage talents to move to Singapore. It has a very stable economic political environment and there are lots of good opportunities for people to find jobs and develop themselves. So I think that's helped to make Singapore a very attractive place.

“Plus the government moves around tax rules, trying to keep the tax cost low as well as keep the regulations simple for people to deal with. I think it has helped to make Singapore the attractive location it is for international talent. And I think that's true now as it always has been and I expect that to remain the case going forward.”

Apart from Singapore, China and Hong Kong have also been named top assignment locations in Asia.

For companies looking to move talent in the region, cost remains a key concern.

But the survey showed that with a tighter job market, more people are willing to accept so-called local-plus terms for their pay packages.

This means they get a combination of local salary terms plus some expatriate living benefits.

Looking ahead, PwC said the influx of talent into Asia and movements across borders looks set to continue.

Mr Clemence continued: "Most respondents see more people moving around the Asia pacific region and that is a very positive thing. No one in the survey was saying they see a reduction in that. There is still a lot of business to be done in Asia. There are still a lot of talent gaps that need to be filled and the way that companies have done that is to move talent from one location to another."

Despite the credit crunch, PwC said that companies who will do well are those that retain talent and even recruit when they can. This will place them in a prime position when the economy kicks back into full swing.


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