Luke Phibbs

Hiring Sentiment in Singapore Remains Soft, But Most Sectors Still Looking to Boost Headcount Despite a generally soft hiring sentiment, 44% of employers plan to hire for the July-September period, according to the latest survey. The finance and real estate sectors are notably cautious, with the net employment outlook dropping 30 percentage points to 15%. However, the transport, logistics, and automotive sector shows resilience with a robust 47% net outlook. Other highlights: - Communication services: -33% outlook, the only negative sector. - Overall net employment outlook: 20%. - Positive outlook in healthcare, life sciences, industrials, and materials sectors. - Smaller firms (10-49 employees) report the strongest outlook at 46%. At Elliott Scott HR, we are experiencing a rise in demand for COE roles, particularly in Rewards, HRIS/Analytics, and Talent Management. Companies are also seeking strong strategic HRBPs for newly created positions or to enhance and uplift current capabilities. If we can be of assistance please don't hesitate to reach out, paw@elliottscotthr.com https://lnkd.in/g6x6mhpV

36

1 Comment

In a race against time, adaptability is key. This holds especially true in the dynamic business landscape, where changes are constant, and so it's imperative that we continuously enhance our skills to navigate the swiftly changing currents of the professional world. On May 16, Viventis Search Asia's Talent Development will proudly spearhead this initiative to assist and encourage professionals like you to elevate you leadership skills, as well as engage you with interactive discussions and real-world case studies. We'll unlock practical strategies to elevate service standards, fostering enduring customer loyalty. Don't just navigate; lead. Secure your spot now and chart a course for excellence.

71

1 Comment

📅 We are delighted to partner with Hubbis for their upcoming Wealth Solutions Forum in Singapore on Wednesday 5 June, with our experts Christopher T., Head of Business Development (Swiss Life Singapore) and Claire Tan, Business Development Director (Swiss Life Singapore).   💡 Don’t miss Claire’s presentation on: “𝐄𝐧𝐡𝐚𝐧𝐜𝐢𝐧𝐠 𝐰𝐞𝐚𝐥𝐭𝐡 𝐭𝐫𝐚𝐧𝐬𝐟𝐞𝐫, 𝐩𝐫𝐨𝐭𝐞𝐜𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐬𝐮𝐜𝐜𝐞𝐬𝐬𝐢𝐨𝐧 𝐩𝐥𝐚𝐧𝐧𝐢𝐧𝐠 𝐢𝐧 𝐚 𝐜𝐡𝐚𝐧𝐠𝐢𝐧𝐠 𝐰𝐨𝐫𝐥𝐝”.   During her presentation, key points will include: ➡️ The growing emphasis on #riskmanagement and #assetprotection among HNW clients, who are increasingly taking a proactive role in managing their finances.   ➡️ The rising demand for investment-lined insurance in the current high interest rate environment. ➡️ #Regulatorychanges in countries such as Thailand, Taiwan, Malaysia and Indonesia, making #VUL a compelling choice for wealth protection and wealth distribution. ➡️ The focus on #legacyplanning, with HNW clients leveraging investment-linked insurance like VUL to safeguard their investment portfolios. 🔗 Find out more: https://lnkd.in/dYZaD6kU   We look forward to seeing you there! #lifeinsurance #wealthmanagement #privatebanking #UHNW #legacy #wealthtransfer #assetprotection #familyoffices #successionplanning #asianmarkets #yourlife #swisslife

20

💡 Will Japan adopt a similar flexi-work guideline? 👨‍💼 Seeing plenty of compliments and opinions this week about the finalised announcement by the tripartite workgroup in Singapore. This is a huge step towards offering employees the channel to make an official case for increased working flexibility. 🚄 In the context of Japan, where rush hour train crowds, timings to drop off kids at the daycare, fixed working hours are common challenges that employees face, this will be a welcomed change. ➕ Companies who are early adopters or follow the framework closely may have the edge over talent attraction efforts too! https://lnkd.in/gZd-xG94

20

🔍 Talent acquisition and cost management are key challenges in today's business landscape. The insights shared by Jason Wee of Elsa Advanced Systems Pte Ltd in this video offer practical solutions and showcase how the Career Conversion Programme can be game-changers. 📈 If you're looking for effective strategies to attract qualified talent and focus on your core business, this video is a must-watch! 📥 Feel free to reach out to Desmond Ong from JonDavidson Pte Ltd for more information and tailor-made staffing solutions that suit your business needs. Elitez Group of Companies

5

Understanding Singapore’s Employment Act: Key Takeaways for SMEs As HR advisors, it's important to ensure that both employers and employees understand their rights and obligations under the law.  Here are a few key takeaways: > Leave Entitlements: Employees are entitled to various types of leave including annual leave, sick leave, and maternity leave. Ensure your policies are up-to-date with these requirements. > Work Hours and Overtime: The standard workweek is capped at 44 hours. Any additional hours must be compensated as overtime. > Termination and Dismissal: Clear guidelines exist for fair termination practices. Both employers and employees should be aware of notice periods and compensation entitlements. Staying compliant not only helps avoid legal issues but also builds a trustworthy and fair workplace.  For a detailed guide, you can visit the Ministry of Manpower's website.  P.S - Need help navigating these regulations? Feel free to reach out.  #HR #EmploymentLaw #SMEs #Singapore"

20

1 Comment

What do employees want? The age-old question. ✅ These motivational factors are easiest to meet for companies: 👉 Money - financial needs without questioning working conditions, work-life balance, or ethics of a company...but then companies complain if employees change for a slightly higher salary 👉 Drive to perform/career development...but then companies complain if employees change to the better player in the same industry 👉 Stability and safe job...but then companies treat those loyal, but quiet employees the worst in times of layoffs. ✅What do young professionals actually want: 👉 Work-life balance is by far the most quoted requirement for younger professionals...but then the salary often may not match up. Let's face it - life has gotten more expensive. 👉 High Salary - but then the work-life balance will not be, well, balanced. 👉Aligning the role with their personal values - puh, that is a tricky one. Hard for many for-profit firms to match. In my personal experience as a member of the board of the World Academy for the Future of Women I speak to many young professionals either in the last years of their degree or just graduated. A few years ago, the conversation revolved around ❓ "How do I negotiate the best salary or what companies to apply to for the best career development?" The tone has changed, and now there is much more focus on ❓"Is this company aligned with my values?" and ❓"Do I think my direct manager is wise and ethical". Times change.  I cannot say I hate it. The old system of never-ending growth is clearly imploding—we see it everywhere. Maybe we need more value-driven businesses. 💜 We see this in the Start-Up world, where "Impact" is a key criterion for evaluating companies. 🤓 What is your main motivation to work - please also classify yourself as a junior/mid-level/senior employee (because needs change according to age). Check out this article by Hoi Ying Lo talking about young Hong Kong'ers work motivation https://lnkd.in/eNN7u__k

9

“Denis, if this presentation doesn’t go well, you probably won’t have a job next week”. Welcome to Merrill Lynch. Day one. First morning. My Singaporean boss gave me a presentation deck he wrote on the 'Strategy for Private Banking Hiring'.   It needed to be delivered convincingly for buy-in from senior executives all the way up to the Head of Asia Pacific. By me.   Because next week he’s on a Military Service refresher. Running around pretending to be a soldier for 2 weeks. Sounds like fun to me.   Meanwhile, back in reality, my wife is over 8 months pregnant. The GFC is kicking off. Merrill has just announced a loss of USD 2 Bn in the mortgage market. Every job is under the microscope.   I need this job badly.   No pressure then.   3 TONS I did were:   1. Ask my boss a TON of questions.   I don’t care if my questions seem stupid or ill-informed. I’m not here to “save-face”. I’m here to protect my family. My boss has more experience and knowledge than me…and I need it. NEVER be afraid to ask questions. Particularly when you’re a newb.   2. A TON of preparation.   Every every major point on his PowerPoint, I researched to understand who, why, when, what, how. This means, I can provide my own examples and “OWN-IT”. Who are my stakeholders, what are their styles? How long do I have?   3. A TON of practice.   I stood up, walked around. Spoke the words out loud. Got used to the flow and made it sound like a conversation. Worked on my time-keeping.   Was I nervous on the day?   You bet. The Stakes were high.   My son was born 3 weeks later.   Thankfully I’d nailed the presentation and kept my job. Nothing like a trial-by-fire to keep you on your toes. What was your test? ➡️Come and speak to me about learning to Present Under Pressure. #careers #publicspeaking #personaldevelopment

29

9 Comments

"Heng An Standard Life Asia Presents: More about Fund Management Companies" In this episode, we are honoured to have Ms Karen Chen, Senior Product Specialist, Allianz Global Investors (#AllianzGI). Karen: “We anticipate that in 2024, it would be worth considering allocating a certain proportion of US assets in investment portfolios, adopting a diversified asset strategy to generate potential returns …” Gain further insights into preparing investment plans in 2024 by watching this video. 张弘Harriet Zhang #HASLASIA #MoreAcademy #GetMoreFromLife #VideoSeries #Allianz #Fundsmanagement

7

1 Comment

🛜Kinetik Hiring | Tech Talk update🛜 🎬Today, we had an insightful session as part of our quarterly internal knowledge-sharing series here at Kinetik Hiring. Our goal is to foster connections and understanding within our staff and the stakeholder community, bridging the gap between recruiters and hiring leaders. 🎤 Hosted by Leon Lim, our Senior Manager, and Norman Noble 🚀, CTO of Mindvalley, our session delved into crucial topics: 🌐 Current Trends in Software Development: From security to DevOps and organizational development, we explored the latest trends shaping the tech landscape. 🤔 Challenges Faced by Hiring Managers: We discussed the common hurdles hiring managers encounter and strategies to overcome them. 💡 Best Practices in Hiring: Discover how to assess skills effectively and align them with market demands for optimal hiring outcomes. 💬 Engaging with the Audience: Our interactive session addressed the day-to-day challenges our audience faces, fostering valuable discussions. A massive thank you to Norman for his valuable insights! Stay tuned as we'll be sharing video snippets highlighting the best moments from our discussion in the coming weeks. 🌟 Looking forward to continuing to drive innovation and collaboration for Technology hiring success! 🚀💼 #kinetik #letsgokinetik #digital #jobs #malaysia #singapore #thailand #southeastasia #hiring #insights #recruitment #talentacquisition

56

Balancing between profitability and employee’s well-being can be tough, just like balancing between work and family. And balance is not about 50/50. Rather it is about balancing the tensions of our lives and in the same vein, our business life at different phases. At Providend, while we have many “schemes” to support our people, most importantly, it is about fellow colleagues supporting one another, covering for one another without complaining and murmuring at different phases of their lives. It is about understanding that we all need support and we need to support others at different times. Our Head of Group Finance and People, Kang Hui said it so aptly.

17

💰My frustration during recession 💰💰How to make sales in a bad market – Mindset Change! Last week I was taking taxi to visit a client from office. I always enjoy chatting with taxi drivers as they are always willing to share their life stories and how good/bad the market is. In Hong Kong, there are fewer tourists than before and many taxi drivers would complain to me that they were making less money. I would reply that I faced a lot of rejections too because of market slow down. It frustrated me a lot because in the past when I met 20 clients, there would be at least 5 job openings. 😞 But now, if I were to meet 20 clients, there could be only 1 opening or even none. Hence I get demotivated easily. 🚨 However, this taxi driver changed my mindset. When I got into the taxi, he greeted me nicely and introduced himself as Franky and passed me his name card with both his whatsapp and Wechat QR Code. 🚨 He told me his taxi business is strong and stable despite recession. 🚨 I asked him why and he explained that he has been in this industry for 15+ years and has accumulated a strong client list. He got many clients’ referral because he offers great services and would always pass on his name cards to all the passengers. He has been doing it for 15 years…. Imagine the number of clients he accumulated! ✅ Tip 1: Always be proactive + Market yourself and services At that moment, I reflected myself and changed my strategy. In the past, I only focused on talking to banking clients and mentioning my recruitment services. But after meeting Franky, the profitable taxi driver, I change my mindset. 😊 Whenever I meet new people now in Hong Kong or overseas, I will introduce myself as a recruiter and ask people if they need to hire regardless of which industries and countries they are from. 😊 Because in my job, I get a referral fee if I pick up a job and pass to my colleagues in HK or other countries (🌍 Singapore/Malaysia/Thailand/Shanghai/London/Europe – you name it) and they are able to fill the role. After changing my mindset, I picked up 5 job referrals (even though it is not within my sector, I am happy to pass on these referrals to my colleagues and earn potential referral fees 💰💰💰💰!) ☀️ How do you cope with a bad market? ☀️ What sales strategies do you apply during recessions? ☀️ I would love to hear your stories! ☀️ P.S. If your team needs to hire, feel free to DM me 🌍 🌍 ☀️ DM me if you want one on one career coaching too! Photo of me holding Franky’s namecard!

120

13 Comments

Diversity, Equity, Inclusion, and Belonging (DEIB) aren't just buzzwords - they're the key to unlocking long-term success for any organization. Building a strong DEIB culture takes time and commitment. Here are four steps to consider on the journey. https://lnkd.in/gdQHGcrm #InclusiveWorkforce #DEIB #OrganizationCulture #WorkCulture

11

https://lnkd.in/g_ZkiwH3 Nice to be quoted in South China Morning Post SCMP with Fiona Chow discussing the 4 day week proposal as a guideline, proposed by Singapore Government. Singapore announced a new initiative that allows employees to request a 4 day week, but employers have the final decision in the end, though they need to consider the matter. I talked to a number of CEOs and HR leaders ahead of talking to Fiona Chow and they felt that: *there is substantial cost focus right now due to economic matters and this initiative could increase salary costs by 20% *there was some evidence from trials of no efficiency loss, but this was not yet robust enough *industry and roles might dictate if this can work for that community of employee *customer service could easily fall which would not be seen as a benefit by customers **however employees could see this as a retention and recruitment tool as it would be deemed attractive. The question is, will employees take a wage cut to accept this model. My view is the jury is out, and we will watch and see if any or many firms in singapore make a leap of faith Meraki Executive Search & Consulting Women's Directorship Programme Winnie Yuen David Bishop David S. Lee (이승우, 李乘雨) Carmen Chiu 趙嘉曼 30% Club Hong Kong Chapter Rob Sheffield - 施樂德

19

Hang Seng Indexes Company Limited today announced the results of its review of the Hang Seng Family of Indexes for the quarter ended 31 March 2024. All changes will take effect on 11 June 2024 (Tuesday). Find out the review highlights for our flagship indexes in below infographics. For the review results of other indexes in the Hang Seng Family of Indexes, please check the Index Review Result notice with publication date 17 May here: https://lnkd.in/g49E5UxA #HangSengIndexes #HSI

37