THE global cosmopolitan, with a linguistic and cultural adaptability and an ability to work in a fast-paced environment, can be a company's best asset.

With booming economic growth on many fronts - high-end manufacturing, bioscience research, oil rigs and ship design and construction, pharmaceutical and chemical production and even casino operations - Singapore's economic heart is beating faster than what the body can take. Infrastructure, road and transport systems are being ramped up for 2020 in anticipation of a larger and more diverse population. The only kink is that we may not have all the talent needed to drive the different engines.

The challenge is how Singapore can attract talent, or more precisely transnational cosmopolitans willing to come here in search of jobs. Some of them are distinctively different from the expensive expatriates sent to Singapore by their global or regional headquarters.

They are attracted to Singapore for a variety of reasons. With the recent introduction of Personalised Employment Passes by the Ministry of Manpower (MOM), we may witness a surge of such transnational cosmopolitans in our midst. MOM is also issuing Employment Pass Eligibility Certificates to foreigners without their having to secure a job here first. These are people who the ministry deems good enough for employment with sufficient academic qualifications and experience. This all adds up to a larger selection pool for Singapore companies to tap.

Without foreigners, there would be no Singapore - old or new.

Modern Singapore began as a society of economic migrants who were drawn to the free port set up by the British in 1819. Old Singapore prospered because these migrants brought with them enterprise, ideas and a willingness to work hard. The British supplied the stability and law and order that made prosperity possible. A few generations down the road, some of the descendants of those economic migrants now question the current government drive to attract more economic migrants to Singapore.

The flow of talent will facilitate the continued competitiveness of the Singapore workforce. The cosmopolitans we are trying to attract are the research and design engineers, scientists, middle and top ranked management executives, musicians, chefs, designers, merchandisers - people who can make Singapore a hub of manufacturing, construction and services.

Singapore, within Asean, is positioned as a gateway and as it attracts enterprises and conglomerates with more cross-border businesses, we will see more Asian talent operating here - Filipinos, Myanmese, Indians, Chinese, Vietnamese, Indonesians, etc. Now, with travelling and studying in Singapore made easier, Asian talent is likely to become more common in Singapore.

The cosmopolitans and expatriates from other developed nations together with Asian cosmopolitans who may have studied in Europe and the US are highly educated, usually multilingual people who have lived, worked and studied in different cultures. They all have a world view that is profoundly affected by their experience of living in different cultures.

Most companies recognise that their growth engine is now outside their home market. The old model of exporting core skills and knowledge-based products and services towards the periphery and managed by key expatriate teams is out of date and, most importantly, overpriced. Instead, organisations need a more nimble approach to globalising their business.

When you're working with a strong brand such as Ikea, it has to be applied consistently across countries and time zones. The challenge is finding the right staff to fit the culture and service standards. There are different ways of doing this, and that's where global cosmopolitans come in. They appreciate the subtleties that it takes to make a brand work in certain markets.

As Singapore evolves towards a more diverse population, the service industry boom will naturally attract foreigners from all over the world to visit. These same people will be served by their own countrymen in Singapore - be they Indian nurses, Filipino doctors, Italian retail managers or even French chefs. Their ability to navigate between cultures and to adapt is what sets them apart.

Companies will always favour someone with a cosmopolitan profile. These people also bring with them an extensive network of international contacts and are frequently employed by companies to research new markets overseas. They have the ability to bring in business lessons from other cultures, which can be a significant driver of innovation.

Cosmopolitans are also likely to succeed where many expatriates have failed, by integrating with the local community. The traditional reason why expatriates fail is because the family cannot settle in. But family circumstances are already sorted out for many global cosmopolitans. They are used to moving as a unit, so there is a better success rate.

I recently met a UK citizen of Hong Kong descent who was educated at a prestigious British university and who met his Singaporean wife there. He now runs a business in Singapore, raising two sons who are Singaporeans. His wife, though a Singaporean, has spent most of her life in Penang as one of her parents is Malaysian. We are going to see more of such global cosmopolitans in Singapore with cross-country marriages. What draws these people to Singapore is the same thing that drew migrants to Singapore long ago - the stability provided by the government.

Questions such as 'where is home', 'where will I bring up my children', 'where will I be appreciated' are serious considerations and play an important part in determining their career choices. Years of being set apart and uprooted leave many with a craving for stability over the course of their globe-trotting life.

It is clear that cosmopolitans have something unique to offer - a diversity, richness and wealth of experience that could benefit any enterprise here. As long as our workforce is vibrant and accepting of the flow of such talented cosmopolitans, as long as we do not try to create uniformity, we can soon become a well-entrenched cosmopolitan city like London and New York.

In the debate about foreign talent, it is sometimes forgotten that there are also ongoing campaigns to encourage identity with Singapore. Singaporeans should not concentrate on the negative aspects of having talented cosmopolitans here but rather focus on why we need them and how we can retain them. It is all for the growth of our economy.

The writer is the managing director of PeopleWorldwide Consulting Private Limited