Insight

50% of employers are seeing professionals return to Singapore because of the strong job market.

According to a release, a growing number of international candidates are returning to Singapore to progress their careers, according to the latest Michael Page Employment Index

The emergence or evolution of a technology is often met with a dire shortage of skills. This is a situation currently facing the Mobile Applications' market, especially in the area of mobile smartphone applications development. As an example there is a dire need for expertise in Objective C programming, mobile business analysis and HTML5 among others. There is a shortage of digital design and conceptualization skills, an area that combines technical skills and aesthetics. If you are a technical person or business analyst the following trends in mobile smartphone platforms is an area for you to track. Those in other functions also need to track this space for their career planning as this looks like being the "next big thing" in technology. 

20 years ago I would probably have settled for a search firm with a ‘safe' name and a consultant who is well networked, has a big database and knows decent interviewing and negotiations techniques.  After all,  the risk in using the handful of search firms was low as most recruiters still behaved like management consultants. 

Recently I came across a video clipping withthe title "The Human Capital Strategy" by chance. In this video (Note 1),CNBC's Karen Tso and Bernard Lo had an interview with Bradley Hall, Managing Director of Human Capital Systems. The main objective of this interview was to talk about why China needed to develop its human capital as it begins to lose its low cost advantage as the Chinese Yuan appreciates.  

Looking forward to 2010, Dexia Asset Management’s official statement is, “Although banks’ balance sheets may not yet be fully cleaned, tensions on the money and credit markets have eased further. Stock markets have bounced back from their depressed levels of the beginning of the year. Regarding the real economy, we are witnessing signs of recovery: for the first time since the beginning of the crisis, the IMF has revised its growth forecasts upwards! The consequences of the crisis will however be felt for quite some time.”(1)

The end of the year is upon us and it has been a challenging one. As expressed by my colleague Jimmy Suen in the accompanying article, there are still economic challenges ahead even though consensus is that we are on the road (albeit a rocky one) to recovery.

It is interesting at this stage to look back at our industry and reflect on where the opportunities will lie in the coming year. While there are prospects for some improvement across the board. Is there one particular area that perhaps may be a catalyst that may pull our high tech industry back into the high  growth path?

In our business of executive search we sometimes meet candidates who feel that their resumes and reputation speak for themselves and interviews are mere formalities. This is a folly, whether the job market is good or bad, remember that all of your interactions are business meetings to explore career possibilities. Conduct yourself with the utmost professionalism and always be in a position to elaborate on:

• Your corporate achievements and track record 
• Your assessment of where your strengths and weaknesses lie with regard to the job or possibilities in the job market 
• Your personal traits that make you successful

Time of susceptibility are when we most need a reliable framework to guide our career.

'A RISING tide lifts all boats.' If the saying by the late John F Kennedy is anything to go by, then the opposite must be true when the tide dips: while booms create jobs, recessions lead to layoffs.

Retrenchment is an event that can jolt one out of one's comfort zone. But it is preciselyduring such a time of susceptibility that we most need a reliable framework to guide our career.

In my experience I find that tough times are also an opportunity to do an assessment of our careers and our employer. We have developed a set of hard questions which, if you answer honestly, will help you make an informed self assessment of your career situation rather than just depending on “gut”. Following are the questions.

“Greed is good!” is a memorable quote in the 1987 movie, Wall Street. The film has come to be seen as the most archetypal portrayal of Wall Street.  Sadly, greed is too powerful a vice. It led to the downfall of Bear Stearns in early 2008 and then Lehman Brothers in September 15, 2008. Lehman’s collapse triggered off the biggest ever Global Economic Meltdown. Credit markets dried up overnight and multiple trillion dollars worth of investment just vaporized as a matter of weeks.

In our last newsletter in July, I warned on the impending slowdown, however the speed and depth of the current crisis caught all of us by surprise. Fortunately, having spoken to several prominent industry analysts the outlook in IT and Telecommunications is generally still positive.

The current economic situation is a cause for serious concern for all of us. While our other article in this month’s newsletter conveys a sense of cautious optimism. The fact remains that some of us may have to face career challenges.  In some circumstances we may even have to face a career transition. Our definition of a Career Transition is “a movement or passage of one’s career as a result of some fundamental push or trigger point such as retrenchment, restructuring, re-engineering or a desire to adopt a new skill or to move to a new environment.”  The diagram depicts the psychological states that a person goes through when faced with a change in career, forced or otherwise.

The past two to three years have been good to the high tech industry in Singapore. The job market for IT talent is especially strong, salaries going up and opportunities for career growth reasonably good.  

We all would like this to continue but are we ignoring the global forces in place at our own peril. Global inflation, a weak US economy, soaring oil prices, tumbling stock markets. Do you need more?

It’s been said that writing a resume brings as much delight as filing an income tax form. Most people write one because its part of the process in seeking out a job with a prospective employer or in working with a headhunter. Having said that, a great resume is the first step to being surfaced as a candidate in a short list, or to get into the headhunters level 1 cache – the top candidates that’s always fresh in the mind.

Lawrence works as a marketer for a US IT multinational but he has not held a permanent job for years. Several years ago, he switched from being a professional holding a permanent job to become a contract worker. He wanted to spend more time with his working wife and three children.

Jaclyn too left a regular job as a medical practitioner to become a contract locum. She felt it was more lucrative as her earnings were about 30% higher than what she used to get.

Why do you recruit? If you are a recruiter in your company, do you recruit because the hiring manager told you he needs 4 more salespersons or 3 more technicians this quarter? Have you wondered why or where these figures come about? Well you may know these numbers come from a grand plan done every year called a manpower planning. But why do you do these plans?

In the last 3 months, I heard of several companies that are having some trouble acquiring talent. Potential candidates who are looking out for better opportunities, decline attractive career offers  - sometimes even before they are told of the details.

I like to offer an additional but often over-looked reason why this could or has happened – and its not something that happens overnight.

“Does age matter?” is a question extremely close to the hearts of mature candidates who are 40 years old and above. This is especially true if they have lost their jobs or feel that their career advancement has come to a stand still. The cost of living is running higher and life expectancy is getting longer, many people are not sure if they can stay employed until they reach the retirement age of 62. 

The three telcos in Singapore have reported good results for the past year, largely on the back of a booming local, and in the case of Singtel - booming local, Australian and Indian economies. 

It is an admirable achievement. None the less, I feel the need to reiterate the global trends that are affecting the competitiveness of the carriers.

The current tight job market makes it a challenge for employers to attract and retain critical staff. Effective employer barnding is a crucial weapon in the war for talent.

The emergence of Web 2.0 technologies has brought new ideas and possibilities to a company's recruiting and employer branding efforts.

The current job market in the Asia-Pacific region remains positive with unemployment rates the lowest it has been in a decade. However, even in the current tight labour market, there are those among us who are in the unfortunate position of having to deal with being retrenched from long-held, often senior-level jobs.

How should one deal with job offers that are a step down from a previous position that was made redundant?

Recruiting critical-skills talent is tough in the current tight labour market. Norman examines the various recruitment methods at a company's disposal and describes how the right search partner can be an invaluable strategic partner.

Kenneth Leow discusses the ins and outs of successful channels partner engagement

In the past, most MNCs could count on there being a long line of potential partners eager to represent their brand. However, with the booming economies of China and India, this is no longer true as foreign companies fall over each other to access these promising markets.

Thus, attracting the best partners and keeping them motivated has become more critical than ever before. Effectively managing your channel partners is, of course, a complex topic, but listed here are a few main points that a principal needs to carefully consider.

Our researcher ruminates on the key attributes of a good manager

In my 20 years of career life, I have worked with bosses of different nationalities and background. I do not know if I am lucky or unlucky, but there was a period where I reported to a new manager every year. On hindsight, it was good training and enabled me to adjust to different styles of management and working demands quite easily. Over these years I have made some observations on what qualities a good manager should have and would like to share my views.

There are enough studies that point to the many reasons why people move jobs -  from poor working conditions, to compensation packages. The major reason that invariably stands out across all levels is the employee’s workplace relationship with their manager. 

Norman Miranda examines the potential of a community-driven wireless initiative

FON is well on its way to building the largest WiFi network in the world through an innovative, community-driven model. Does such a model have a role to play in Singapore?

The Singapore government has identified the Clean Energy industry as a potential source of investment and job growth. While it's early days yet, the sector has already seen some pioneering developments that bode well for its future.

Theresa Goh examines networking practices in Asia

I wrote previously about the need for Westerners in Asia to understand the concept of Asian-style networking, whilst Asians working for Western companies need to deepen their skills in evolving and communicating their strategic vision and empowerment. Let me discuss Asian-style networking in more detail ...

Kenneth Leow describes how to navigate your career options

MM Lee said recently that Singaporeans are currently living in a Golden Age. Property prices are rising, stock portfolios have appreciated exponentially and job opportunities seem to be aplenty. Is it really that good for job seekers today?