Some businesses are definitely feeling the heat from the Singapore government’s policy changes on hiring foreign workers. Read more about it from this article on Channel News Asia.
From what I can remember from my Economics lessons back in school, if one meddles with the market forces, that is the demand and supply lines, the market forces would eventually correct itself. Cutting the supply to the pool of foreign talent is going to raise the hiring costs of businesses. Who knows for sure the businesses’ strategies for managing the higher costs. However, given that most businesses subscribe to capitalism, expecting businesses to accept lower profits is more like a comic strip ending. Unbelievable.
More real life possibilities are:
1) Maybe the costs are passed on to customers as higher prices? Come on, cupcakes are comfort food and should be priced similar to daily essentials like rice and water!
2) Or businesses bullies the existing staff to take on more job responsibilities without hiring a new staff. Cupcakes need to be made from love, not by tired and worn out chefs who holds a grudge against the company!
3) Or worse, businesses decide to relocate to countries with cheaper costs, doing away with jobs in Singapore all together. I need to air mail cupcakes in? No way!
While this may be a figment of my imagination, on the safe side, I think I better start learning on how to bake a good cupcake.
Useless fact about me: If I got the Economics wrong in this post, don’t flame me for it. I was never good at the subject and dropped out of it.