Two out of three finance professionals believe Fair Consideration Framework is working

Firms are hiring more Singaporeans now.

Two thirds of financial services workers in Singapore say that the Government’s Fair Consideration Framework is effective, according to recruitment firm Astbury Marsden.

Employers hiring more local candidates as a result of the framework, said 61% of financial services workers in Singapore.

The Fair Consideration Framework (FCF) imposes an obligation on all businesses to consider Singaporeans fairly for employment opportunities.

“The overwhelming sentiment amongst the Singaporean workforce is that the FCF is helping local candidates but care needs to be exercised to ensure it doesn’t hinder Singapore’s international appeal,” said Mark O’Reilly, Managing Director for Astbury Marsden Asia Pacific.

One fifth of financial services staff expect pay hike as a result of FCF.