Compliance
How Singapore's Fair Consideration Framework Affects Financial Services Hiring
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Command Insure Recruit
Compliance Team
What is the Fair Consideration Framework?
The FCF is a set of guidelines by the Ministry of Manpower (MOM) to ensure employers consider Singaporeans fairly for job opportunities before hiring foreign workers.
Key Requirements
All positions with monthly salary below SGD 22,500 must be advertised on MyCareersFuture for at least 14 days before an Employment Pass application.
Impact on Insurance and Banking Recruitment
Companies now invest more in local talent development programs, graduate training schemes, mid-career conversion pathways, and competitive compensation packages.
Best Practices
- Review job descriptions for discriminatory requirements
- Implement structured interview processes
- Document all hiring decisions
- Partner with compliant platforms like Command Insure Recruit