Commentary

Numerous industries in Singapore have undergone changes in their hiring processes, notably the industrial and IT&T sectors. Companies are still keen on hiring, but the hiring process has been slowed down slightly by wary employers and job seekers. Even larger corporations that possess strong expansion abilities remain cautious, and have either slowed or brought their growth plans to a standstill.

The use of mobile devices is on the rise in Singapore, both amongst end users as well as enterprises. In a recent Google study, Singapore has the highest smartphone penetration rate in the world at 62 per cent– ahead of the US, UK and Japan. Known for being early adopters, Singaporeans consistently show an appetite for the latest advances in smart-mobile technology, with Apple’s iOS leading the pack at about 75 per cent share across mobile-device users in Singapore.

Singapore has always been on the radar for many business setups, be it financial services, shipping, education; name it and it is there. Being the most well connected port in the world, a relatively stable economy, pro-entrepreneur regulations and a rich diaspora, Singapore has managed to to excel in its ventures.

These days, everyone in Singapore seems to want to invest in properties. It is not surprising, as anyone who had bought a property several years ago would likely be sitting on good returns right now.

As more and more countries start putting ‘boots on the ground’ in faraway places, what are the implications of mobilizing reservists from an HR perspective. Arriving at Singapore’s Changi Airport you are likely to encounter patrols of soldiers armed with assault rifles circling the passenger terminals. A security measure introduced since 911. You may be surprised to hear that a percentage of them are in fact reservists! Recent world events have shown how the armed forces are relying more and more upon part-time reservists as a way of meeting their military obligations. The human resource implications of this are far reaching in that taking employees away from the work place depletes organizations of valuable employees for, it seems increasingly longer periods of time. When employees are called up during peacetime, either to do NS or as reservists, it is always for a stated duration. In war time it can be, conceivably, for an indefinite period. In countries such as the US, the UK, and Australia reservists volunteer their services. As such reservists make up a very small percentage of the population in these countries. In other countries such as Singapore all young men are required to complete two years military service after which, they are eligible to be called upon for reservist duties up to the age of thirty five. Reservists are often drawn from key sectors of the economy. Typically they include, medical personnel , engineering and logistical experts. The majority of Britain’s military medical personnel are reservists. Traditionally reservists have been used in support functions. Increasingly however they are being used for front time duties as well. Employers are not normally required to pay reservists while they are away. Some organizations however continue to do so, usually for patriotic reasons. Employers receive government compensation to cover the temporary loss of the employee. A survey conducted by Buck consultants in the US in 2003 revealed that two-thirds of employers were prepared to offer some form of pay differentiation to employees called away for military service in the Gulf. Between 23% and 43% stated that they were prepared to continue provide medical and dental insurance for up to a year or for the full duration of hostilities. If a company is already short staffed, possibly as a result of downsizing, the calling up of key employees can have a serious economic impact. An employer is entitled to apply to exempt a reservist from call up but, to be successful, the employer must establish that their absence will cause serious economic damage to the organization. Likewise the reservist can be granted exemption from duty on a number of grounds. These might include recent family illness or bereavement or an elderly relative to care for. Others circumstances might include recent promotion , imminent examinations or training that cannot easily be deferred. It is worth noting that 50% of appeals lodged in the US at the time of the 1991 Gulf war were successful. A key concern of the reservist is likely to be that he or she has a job to return to. In all countries legislation exists to protect the rights of reservists. In most instances the reservist is entitled to reinstatement. Bear in mind however, that a lot can happen if an employee is absent for a considerable period of time. Sometimes it can be deemed unreasonable to expect an employer to hold open a job. Generally speaking the majority of employers in the U.S. and in Europe have a favorable attitude towards employees who serve in the reserve forces. Often such employees are perceived as being more resourceful and as having greater integrity. Also there are can also be useful spin offs for the organization. Skills such as leadership skills as well as technical skills cab be transferable to the workplace.

Look around The Lion City – you see brands everywhere. In fact, studies show that the average person living in a city the size of Singapore runs across 3,000 brands every 24 hours. Not convinced? Start counting the brands you see from the moment you wake up tomorrow morning from your brand of alarm clock, to your brand of sheets, toothbrush, toothpaste, refrigerator, coffee, smart phone, computer, and on and on. Then, walk down an aisle at Cold Storage, stop on Orchard Road and glance around, open up the Straits Times and look at all the ads. Get the picture?

I am very fortunate to have a mentor who told me the importance of communication very early on in my career. I can still vividly recall her words; “The three most important skills a leader must have are: great communication skills, great presentation skills and great writing skills. Every other skill you can outsource or hire someone to fill the gap. But, you can’t outsource communication skills.”

A recent survey conducted by the National University of Singapore (NUS) Entrepreneurship Centre shows that the majority of students in Singapore’s various universities and polytechnic institutions are interested in starting up their own business.

The Grand Prix rolls into town next month and among the clouds of smoke will be one of uncertainty over the sport’s future presence in the city.

In Singapore and many Asian countries, families and businesses take pride in 'Having Face' or 'Reputation'

Singaporeans have been crying foul over employers favouring foreigners, which account for one-third of the country’s workforce today. The effect of the recent influx of foreigners (increasingly crowded public transportation systems, rising housing prices, etc) has also caused some discomfort to the local populace.

It is a perpetual cycle – you pay more, to get better training quality (?), with a tag attached. Professionals around the world carry a name, a prestige, and not easy to book their time. We hear them at breakfast meetings which is hardly one hour talk for hefty fees. I remember we used to invite such ‘’scholars’’ not much for training; but for networking. They can bring you useful contacts. I once attended a Talk by a renowned professor. He invited us on his yacht. There were 15 of us. The talk was hardly 20 minutes. You mingle with the participants – CEO, Business owners, Academics, etc. It is up to you to know them and explore the opportunity to benefit from knowing them. Yes, I remember. We also attended a ‘’retreat’’. You go out of the office environment for two to four days. I went to Sentosa Island (Singapore). You are locked in one large function room of a hotel. There is of course, good concentration to what the professor says. And, being in-house program, you do not have to worry much for networking. Though I was surprised not to have known well few from my own enterprise. Then, there are Assessment programs – usually named differently. They call it EQ or AQ, claiming that senior managers must have resilient powers. Again, outstation and locked in a room for the first session of the day. You are given few pages of questionnaire. Once attended, there is a break of one hour. You get refreshed with tea/coffee and snacks. They use the time for assessing the participants. The bell rings and you gather back in the room. It’s like examination result! They tell you who you are (you did not know yourself till that time!). The best part comes when percentages are played. Majority of the class lack in particular skills. To survive in the business world, you have to prepare them – they are your senior managers. So? Engage them for a training program of one or two weeks. In my early days, I have attended two or three days training, mostly in a public program in a city hotel. We were serious in learning then. We bring home valuable one or two techniques to benefit the organization. In the end, if you find the trainer/speaker appropriate to your organization, invite her/him for further training in-house. The purpose is more people from the organization can benefit and you have relevant topics discussed. Who needs training? Is there a need? If sales are not improving, send sales personnel for sales training. Is it the person or, the product weakness? Coaching for example, was considered as weakness of individual. Coaching was provided for improving the weakness. Today, providing coaching or a personal coach is a reputation – she/he is deemed for promotion and is being groomed for higher position. At home front, engaging a Fitness coach is now a fashion. We have a personal coach! At my Gym, I notice many coaches are busy telling stories or discussing current events, asking personal details (what time you go to sleep, where did you go this weekend). There are some who are really organized. They have written program for every session. Same is the case with education. If your child takes tuition in my early days, she/he is ashamed for being weak in studies. Now, it is a prestige to join popular Tuition class. I remember early days, there were teachers conducting classes with Video instructions to cope with the demand. Nowadays, they make use of technology and have interactive videos. A teacher sitting in another town conducts video classes. They will physically see the students, may be once or twice in a month. Universities have adopted the same style – a foreign university professor visits once a month, for question-answers. It used to be ‘’what’s good for participants’’. Now, changed to ‘’what’s in it for me’’. Training industry is not yet regulated! I was using the “Slide rule” in my college days. Now, all is computerized. You have to take tuition for mental calculations. In early days, entrepreneurs will not allow their children to use calculators. The use of Abacus is almost in a bygone era. I conduct training for employees to teach them numbers – how to calculate without using calculator, how to do mental arithmetic. The course includes from simple arithmetic to probability. The Government authorities are concerned in Singapore for their citizens to remain employable. MNC make extensive use for local staff. This is popular with Retail and Fast food chain, as well. I am not against Training by experts and use of technology. My only point is not to forget the fundamentals. Do not throw away the baby with the soap water! 

Singapore has the second lowest birth rate in the developed world. (The lowest is held by our perennial city rival, Hong Kong.) And in a rare note of agreement with the nation’s youth, former Prime Minister Lee Kuan Yew has warned that our demographic decline – perhaps more so than the potential rise of new regional trading powerhouses – will cause Singapore to “fold up”.

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Cloud computing has been a recent buzz word among businesses and has been identified as the future technology. Should you start adopting cloud services now?

The institutional investment world is waking up to the reality of the Global Financial Crisis (or GFC) which drags on interminably. We look to our newspapers on a daily basis to see if some quick fix or short term panacea for Europe’s travails has been miraculously discovered, or whether the US economy has rediscovered its mojo. The reality is that the problems in the Western World of huge fiscal deficits and ballooning public debt will persist for the rest of the financial careers of most readers. But, while Europe and North America languish, all is not lost. Institutions are now waking up to the fact that with 50% of global GDP now coming from the developing world, there is a real imperative to shift more of their investment portfolios towards these markets. Goldman Sachs estimates that this could represent as much as 4 trillion US dollars over the next two decades. Hello Singapore! With a private banking business said to oversee over 300 billion dollars of wealth, situated slap bang in the middle of one of the most populous and fast growing regions in the world, one would have thought that the choice of funds investing into ASEAN story would be too many to list here. Instead, there are scarcely a handful of managers that run equity funds dedicated to the wider region, and those that do, whether within the big banks, or small boutique fund managers, remain small and largely unheard of, in an industry dominated by Global Emerging Markets managers. China is only 5 hours away from Singapore, and its stock markets have not been a very fertile place to invest in recent years. However, the Philippines, Thailand and Indonesia, scarcely a short hop from the Lion City, have been the darlings of the global investor. Time to raise the flag here in the region’s principal capital market, and build a financial centre for ASEAN fund management. Step forward champions of ASEAN.