What this lesson teaches
I can explain how globalisation creates both job opportunities and job challenges for individuals.
Syllabus K336, Issue 3, Guiding Question 2, Economic impacts of globalisation. Employment opportunities and challenges experienced by individuals
Make a guess
A multinational company opens a research centre in Singapore. Do you think every unemployed person will get a job there?
- Yes, because a big investment creates jobs for most jobseekers nearby.
- No, because MNCs mostly hire workers from their home countries.
- No, the jobs go to people with the right skills for them.
Show the answer
No, the jobs go to people with the right skills for them.
Globalisation creates opportunities, not guaranteed jobs. Skills, qualifications and the number of vacancies all matter.
Globalisation can create jobs at home and open up work with overseas companies and clients.
Global links create jobs in different ways. A translation company wins overseas clients and hires people to adapt its materials for other countries. A multinational company opens a research centre in Singapore and recruits staff with the right skills.
Workers may find jobs in growing export firms or in foreign-owned companies here. They can also work overseas, or serve foreign clients online from Singapore. Experience gained this way can open further opportunities, and some roles offer better pay or promotion.
An opportunity is not a guaranteed job. Skills, qualifications, the number of vacancies, permission to work abroad, family duties and the cost of moving all affect who can take it up. Before assuming an overseas job is better, compare the actual role, pay and working conditions.
- Sources of jobs
- Exporters, foreign investment, overseas and online work.
- Barriers
- Skills, qualifications, vacancies, visas, family duties.
Real examples to use
Jobs from MNCs
Foreign companies in areas such as electronics, finance and technology employ many Singaporeans, often in skilled, well-paid jobs.
New industries
Growth in digital services has created demand for jobs such as data analysts and software engineers.
Worked example: Translating for an overseas client
Mei, a translator in Singapore, is hired by an overseas education company for six months to adapt its training videos for Singapore audiences.
- The job comes from an overseas client: globalisation creates work.
- Mei's language skills and local knowledge get her the job.
- She does it without leaving Singapore. But the contract lasts six months, so it does not guarantee lasting work or the same chance for everyone.
Watch out for this
More foreign investment guarantees every unemployed person a better job.
New jobs need the right skills, and there may not be enough for everyone.
Check your understanding
Why might a new foreign-owned research centre not help every job seeker?
- Its jobs need specific skills that not every job seeker has.
- Research centres create few jobs compared with factories.
- It will mainly hire people from overseas rather than locals.
Show the answer
Its jobs need specific skills that not every job seeker has.
Right. Opportunities depend on skills and the number of vacancies.