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Train and retrain -- that is what the Workforce Development Agency (WDA) hopes the new Media Continuing Education and Training Centre will do for 3,000 professionals in the industry over the next five years.
It has signed a Memorandum of Understanding with the Singapore Media Academy (SMA) and Ngee Ann Polytechnic on Saturday to set up the centre.
This is the first such partnership between private and public education and government sectors.
The WDA hopes the centre will provide a training environment to meet the changing needs of Singapore's media workforce.
"It's my passion to be able to help the sick and also it has always been my passion to want to take part in different roles and being an actor, if I ever have the chance to be," said a trainee of the Performing for TV course, Deric Sim, who is also a doctor by day.
After completing each course, participants will get a nationally issued certificate known as a statement of attainment.
They can accumulate relevant certificates in exchange for a qualification like a diploma.
Trainees can also get subsidies from the WDA of up to 80 per cent of the course fees.
"Beyond the classroom setting, we also have hands-on, practical experience of what we call on-the-job training. And after the trainees have completed their training, there will be opportunities for internships, apprenticeships and even a permanent position in the media industry," said the assistant vice-president of SMA, Janet Patt.
The SMA, which has been appointed the long-term Media Continuing Education and Training Centre, has been running a gamut of courses.
SMA says it will tap on its network of local and international partners to bring in renowned trainers and training resources. It will also gather feedback from media professionals to ensure its courses meet the industry's demands.
In the first half of next year, new courses to be rolled out include New Media Business Management, Media Sales and Marketing, as well as TV, Film and Radio Production.
The academy, which is currently at Caldecott Broadcast Centre, will move to an interim location in the middle of next year before settling at a permanent site by 2011.
Despite a more challenging economic outlook, employment in Singapore rose to a new high of 77percent in 2008 from 76.5 percent in 2007, government data showed on Friday.
The Singapore Manpower Ministry said in a workforce report that the rise was driven by both growth in the resident population and female labor force participation rate along with continued employment of older workers.
However, the country's jobless rate rose from a decade low of 2.4 percent in December last year to 3.1 percent in June this year, reflecting more cautious hiring sentiments amid the economic slowdown, said the report.
The report also noted that the seasonally adjusted resident jobless rate rose further to 3.3 percent in September this year amid the economic contraction and continued weakening in economic outlook.
The ministry said the employment rate of residents aged 55 to 64 years also increased by a percentage point over the previous year to 57.2 percent this year, due to continuing efforts to enhance the employability of older persons.
It also found that more women who were previously outside the labor force were taking up jobs.
As for income, the report said the median monthly income for full-time employed residents rose over the year by 11 percent to 2,590 Singapore dollars (1,715 U.S. dollars) in 2008.
After adjusting for higher inflation, the increase in median income was 4.6 percent compared with 5.5 percent in 2007.
The report said the income growth in 2008 partly reflects the spillover effect from the strong economic performance last year and the higher proportion of Professional, Managerial, Executive and Technician (PMETs), whose income is typically higher, among employed residents in 2008.
A new S$1 million Retail Training and Employment Centre has been launched in conjunction with the upcoming mall at Orchard Road, 313@Somerset.
313@Somerset is being developed by Land Lease Retail Singapore.
The project is the first major fully integrated retail development in Asia undertaken by the company.
Lend Lease said the new centre is aimed at providing free retail training to the employees of retailers at the mall.
The centre is expected to be fully operational by the middle of 2009 and will train about 1,000 employees and potential employees during its first year.
DesignSingapore Council, SPRING Singapore, and International Enterprise Singapore have launched a S$12 million programme that will help local companies enhance their competitiveness through the use of design.
The Design for Enterprises (DFE) programme will have three main thrusts - Design Touch, Design Engage and Design Excel.
These aim to help local firms progress through the different levels of design capabilities, from learning about the value of design to skilful integration of design into their business strategies.
Under the Design Touch programme, a centre will be set up for companies who are taking their first steps at understanding the importance of design as a strategic tool.
Companies can learn about design and seek professional advice on relevant resources and programmes by visiting the centre or calling its hotline.
The Design Engage Programme is a three-year programme targeted to help companies understand the value of design and to build up their design capabilities.
Some 200 local companies are expected to benefit from adding design elements to their business strategy under the programme.
Design Excel is meant for companies who have successfully transformed and redefined their businesses by using design as their central strategy. It provides further mentorship and leadership programmes for them to continue to achieve design excellence.
These programmes will help companies to groom a new breed of creative leaders in their organisations.
Dr Lee Boon Yang, Minister for Information, Communications and the Arts said design is an important tool for enterprises to create unique value and sharpen their competitiveness.
SOME outplacement firms which help companies find jobs for their retrenched workers said all signs point to even more lay-offs in the first quarter of next year.
But on the bright side, contract work opportunities look set to rise.
Central Singapore CDC has tied up with companies to conduct five direct job placement exercises before the end of the year. They are sending out a survival guide with money-saving and job-search tips to 280,000 households in the district next month.
For the last five years, the CDC has also run support groups to help the retrenched. These will be expanded as demand grows.
Singapore Community Development Council general manager Agnes Kwek said: “Our numbers have been creeping up by about 10 per cent over the year. Nevertheless, we have made some contingency plans.”
“I think if we pass a certain critical number, we would look to ramp up manpower deployment at our job centres so that we can attend to more job seekers. We would look to lengthen our opening hours and maybe even opening full days onSaturdays should the situation require.”
The Chinese Development and Assistance Council is also considering deploying more manpower. It has seen a 30-per-cent rise in job seekers since August. The self-help group is also tapping on the Careerlink Plus Centre to help the unemployed. It is working with the Employment and Employability Institute to encourage job seekers to attend job preparation exercises.
Recruiters are seeing proactive job search efforts even by those who are still employed. International recruitment firm Robert Walters has so far seen placement rates dropping by up to 15 per cent.
Singapore's Employment Act was updated for the first time in 13 years to offer more protection for vulnerable workers and reflect current employment norms.
Among the changes taking effect from 1 January 2009:
* confidential staff and workers earning up to S$2,000 per month will be covered by the Act * junior executives earning up to S$2,500 per month will be able to settle salary claims through the Labour Court * paid public holidays and sick leave will be extended to all employees * part-time employees will include those who work less than 35 hours per week * higher fines for offences such as failure to pay salaries on time
Singaporeans welcomed the move by the Civil Service to reduce pay, and some said the wage cut announcement did not come as a surprise.
Civil Service wage cut may not be significant in terms of the overall government expenditure.
What is more important is the signal it sends to the private sector of the cost cutting options available for firms to stay viable.
In response, National Wages Council Chairman Professor Lim Pin said the Civil Service pay cut is in line with the council’s guidelines, and added that it’s not unexpected that bonus payments would be affected as a result of the business downturn.
Experts believe more measures will be announced in January’s Budget to help Singaporeans, as well as enhance the country’s competitiveness in the rough days ahead.
The Employment and Employability Institute (E2i) is tripling its staff strength to meet the challenges of the Skills Programme for Upgrading and Resilience (SPUR).
It is one of 42 Continuing Education and Training (CET) centres to benefit from the S$600 million set aside for the two-year programme.
E2i plans to boost its staff strength from the current 30 to 100 soon, in order to cater to the targeted 50,000 workers whom the labour movement wants to retrain.
The Community Development Councils (CDCs) also have an important role to play to ensure that employees benefit from SPUR. They could refer those who go to them for job assistance to the relevant CET centres for retraining.
There will be more than 60 skills upgrading pathways for rank and file workers and professionals under the new SPUR initiative to help workers reskill for new jobs.
The government is concerned that the economic downturn will affect a growing number of professionals, managers, executives and technicians or PMETs.
SPUR has spelt out clear career pathways for them. For example, if a manager is retrenched, he can approach the Employment and Employability Institute where he can choose from a list of upgrading pathways in growth sectors.
He will then undergo retraining for the new job. The trainee will receive a fee subsidy for the course and a training allowance.
The government is giving an additional S$2.3 billion in loans to help local companies gain access to credit during the current economic slowdown.
Some 124,000 local firms are expected to benefit from various enhanced schemes when they take effect on December 1.
Loan Insurance Scheme (LIS) will be handy for companies if the economy gets worse. All companies can now apply for the scheme.
Previously, only smaller companies could qualify only if their group turnover was below a certain amount, which varied between listed and non-listed companies.
Among other measures announced is a new Bridging Loan Programme that gives companies credit of up to S$500,000 for working capital.
Small and medium-sized companies will continue to get loans under the Local Enterprise Financing scheme and the government will increase its loan default risk sharing from 50 to 80 per cent.
This is to ensure the financial institutions continue to lend to the small businesses.
Small businesses with fewer than 10 employees can now borrow up to S$100,000, double the amount before.
For start-ups, the government is raising the investment cap from the current S$300,000 to S$1 million under the Start-up Enterprise Development Scheme.
It will also temporarily increase the co-match ratio from the existing 1:1 ratio to 2:1 instead.
This means that start-ups will receive S$2 from the government for every one dollar an investor puts into the new firm.
And for companies expanding overseas, the government will widen the Internationalisation Finance Scheme.
Under the scheme, companies can, for example, now get financing to fund the expenses of secured projects overseas.
A listed trading company can now get S$200 million financing.
But that will be raised to S$300 million to increase the number of companies that qualify for the scheme.
Malaysian workers in Singapore who have been retrenched are advised to contact the Johor Manpower Department as there are more than 10,000 job vacancies in the state.
State executive councillor for Unity, Human Resources, Science, Technology and Innovation M. Asojan said the department has been directed to keep tabs of all the jobs available in the state according to sectors as well as potential employers.
- a special counter has also been set up at the department's branches in Kluang, Batu Pahat, Muar and Segamat to assist those retrenched in Singapore.
- department was closely monitoring the situation in Singapore, including liaising with the Malaysian High Commission to assist Malaysian workers who may be retrenched.
- there are about 300,000 Malaysians employed in various sectors in the island republic.
- to register, job-seekers can contact the manpower offices in Johor Baru at 07-224 3188, Kluang 07-772 1646, Batu Pahat 07-434 2595, Segamat 07-931 1414 and Muar 06-951 1672.
They can also visit its website at www.jobsmalaysia.gov.my.
The Manpower Ministry is embarking on two strategies to help companies and workers deal with the economic downturn and invest in skills upgrading.
- a tripartite taskforce will be set up to help companies reduce manpower costs and for those retrenched, help them find jobs.
- Tripartite partners - comprising the Manpower Ministry, the Singapore National Employers' Federation and NTUC - strongly encourage companies to manage their excess manpower and consider retrenchments only as a last resort.
- Companies should redeploy workers to other areas of work and send excess manpower for skills upgrading and training, or adopt alternative arrangements like short work-week.
- Companies can also adopt a flexible wage system to manage wage costs or implement temporary layoffs.
- The MOM will release the revised Tripartite Guidelines on Managing Excess Manpower on Wednesday.
- Retrenched workers will also get help in finding new jobs and skills upgrading.
- The career centres at the Community Development Councils (CDCs) and NTUC's Employment and Employability Institute (e2i) will provide career counselling, training support and job placements for the unemployed.
- Job seekers could be deployed to sectors which are still hiring and have strong growth prospects such as the retail industry. It is estimated that the industry will need at least several thousand retail workers once Ion Orchard, Orchard Central and the integrated resorts are open.
- MOM will be announcing more details on the Skills Programme for Upgrading and Resilience (SPUR) later this week, which will provide small and medium enterprises with financing help and a new training programme for workers.
The Income Tax Act has been amended and enhanced to better help Singapore achieve economic and social objectives.
- One key change is that the amounts of Child Relief and Handicapped Child Relief will be increased from next year.
- Qualifying Child Relief will be doubled to S$4,000. She said this will be extended to all qualifying children, beyond the fourth child. Handicapped Child Relief on the other hand will be raised by S$2,000 to S$5,500.
- Working mothers will also be able to claim up to 100 per cent of their earned income for all qualifying Singaporean children under the Working Mother's Child Relief. This includes the fifth child and beyond.
- The cap for the total amount claimable for all three relief schemes in respect of the same child has been doubled to S$50,000.
- As for the S$5,000 Parenthood Tax Rebate, it will be extended to the first child.
- Mrs Lim said that parents can also get S$20,000 for each child beyond the fourth one.
- Selected groups of taxpayers will be exempted from filing their income tax. This will not only benefit about 300,000 taxpayers, but help the government save on tax administration costs.
- Under the other amendment, General Partnerships and Limited Liability Partnerships will now enjoy tax incentives. They will enjoy specific tax incentives such as further reductions for research and development expenditure.
Changes were made to the Employment Act on Tuesday to bring the law up to date with significant changes to the labour market. The Act was last amended 13 years ago.
The face of Singapore's labour force has been changing. There are now more professionals and contract workers, and the services sector hires more than two-thirds of the workforce.
"Employment protection and benefits for certain groups of vulnerable workers need to be enhanced. Employment standards also need to be revised to better reflect employment norms while maintaining labour market flexibility," said Acting Manpower Minister Gan Kim Yong.
Among the major changes are:
- junior managers and executives earning less than S$2,500 will now be covered, and be able to settle salary claims through the Labour Court; - paid public holidays and paid sick leave will be extended to all employees covered under the Act; - part-time work will be redefined to include those who work less than 35 hours a week; - penalties for flouting the Act, last revised 24 years ago, will be enhanced.
While the changes as long overdue, some MPs questioned the timing and impact on businesses' bottomlines, and others were concerned about possible exploitation.
Said Dr Lim Wee Kiak, MP for Sembawang GRC: "There are areas in the proposed amendments which I feel could have been introduced at a more opportune time than now, when businesses and industries are scrambling to keep themselves afloat."
"One concern that has surfaced is whether some employers will take advantage of the situation and start converting full time workers to part-time workers," said Madam Halimah Yaacob, MP for Jurong GRC.
Responding, Mr Gan said it's a balance between worker protection and market flexibility. He added that many changes are already industry norms and should not increase costs. - CNA /ls
Singapore, facing a slump in exports amid a recession, may change its exchange-rate policy to favor a weakening currency in April or sooner, according to UBS AG.
The Monetary Authority of Singapore, after ending its policy of encouraging gains in the local dollar last month, may be open to depreciation to help revive the $161 billion economy, wrote Ashley Davies and Nizam Idris, currency strategists at the world's second-biggest foreign-exchange trader. The U.S. Federal Reserve, the Bank of Japan, the Bank of England and the European Central Bank have all cut interest rates to combat recessions.
``Following the aggressive policy moves elsewhere, it now seems unobjectionable for Singapore to ease monetary policy via a weaker currency,'' Davies and Nizam wrote in a research report yesterday. ``While our base case is for a change in policy at the next meeting in April, it could happen earlier should pressure on reserves mount.''
Singapore's dollar traded at S$1.5243 to the U.S. dollar as of 9:08 a.m. local time, according to data compiled by Bloomberg. It earlier touched S$1.5283, the lowest level since September 2007. The currency has declined 7.3 percent in the past three months.
It may drop to S$1.5400 in three months due to ``sustained dollar strength and persistently elevated global aversion,'' the Singapore-based strategists said.
Guiding Currency
Singapore's central bank conducts monetary policy by guiding the currency within an undisclosed band based on a weighted basket of major trading partners' currencies. Policy adjustments are made by adjusting the band.
The MAS, at its last meeting on Oct. 10, said it was shifting to a ``zero-percent appreciation'' stance as the economy slipped into a recession in the third quarter.
Overseas sales last month posted the biggest decline in more than six years as recessions in the world's biggest economies hurt demand for the electronic goods and medicines manufactured in the city. Non-oil exports slid 15 percent from a year earlier, after dropping 5.7 percent in September, the trade promotion agency said yesterday.
Singapore's recession will last about a year and it may take several years of slow growth before the economy returns to normal, the Straits Times reported yesterday, citing Prime Minister Lee Hsien Loong.
Shrinking Economy
Gross domestic product contracted an annualized 6.3 percent in the third quarter from the previous three months, after shrinking 5.7 percent between April and June, economists said in a Bloomberg survey before a government report on Nov. 21.
``One potential date being mentioned in the market for a policy change could be this Friday when the third quarter GDP numbers are finalized,'' Davies and Nizam wrote, adding ``the number could be revised lower.''
Singapore's central bank ``may be forced to move earlier than the April meeting,'' as defending the currency from a slide would drain local funds, ``which may not be desirable given falling asset prices and generally tight liquidity conditions,'' according to UBS.
I would say that since Adobe acquired Macromedia (sob and then yay), one of the objectives has been to try and seamlessly integrate the work flow between the 2 companies offerings. The latest version of Creative Suite 4 really lives up to the slogan "Shortcut to Brilliant" and the apps work REALLY well together.
I attended Adobe's CS4 Launch Event today at The Rock at Suntec and got a cool water bottle as the door gift. So glad I don't have another notebook / sticky pad / post it / useless key chain / squeeze ball / not-ANOTHER-fat-plastic-pen to throw into the Abyss-Box.
There's really too many improvements CS4 has over CS3, but from the presentations / demos, I would say that the 4 software with major workflow / productivity improvements would be Flash, Premiere Pro, Photoshop, Fireworks.
Here's my list of top 3 most AMAZING features of CS4.
1. Flash has animation macros to speed up / easily create animations. Effects which took 10-20 steps to do, now only needed 2-3 steps. And there's Inverse Kinematics (Bones) function to help animate your objects. IK used to be only found in expensive 3D software like 3D Studio Max / Maya etc.
2. Fireworks is CRAZY, with the slice, auto CSS generator and tab views of javascript etc in the same window. Edits to preview updates all related files on the fly. There's even a browser built INTO Fireworks so you no longer have to SAVE, Preview in IE / FF / Safari.
3. The most AMAZING feature is the interpolability between the apps, like from InDesign, to Flash. Or Photoshop to Fireworks to HTML (with CSS). Photoshop to Dreamweaver, and when you resize the image in Dreamweaver, it goes back to the PSD, saves a copy and updates the image in Dreamweaver AUTOMATICALLY! Same with making an image edit in PSD which has a referenced image in Dreamweaver, it updates dynamically. No more SAVE AS JPG, DELETE IMAGE, INSERT IMAGE. WOW!
Is it worth the upgrade price of $1000 ish (CS3 to CS4).
Resorts World at Sentosa has launched its first major recruitment drive, and has moved to see if it can hire workers who have been retrenched, including those from DBS Bank.
The integrated resort (IR) has started to fill 300 fairly senior positions - 200 managers and 100 supervisors - to take charge of its 20ha Universal Studios theme park.
To attract applicants, it will dangle a special carrot: a chance to go to Universal Studios Orlando in the United States for a training stint that could last up to four months.
At the launch of the drive yesterday, the IR's head of human resources, Ms Seah-Khoo Ee Boon, said: 'Resorts World at Sentosa is open to working with organisations that may be undergoing restructuring, including banks.'
DBS confirmed that it is in talks with the resort.
Resorts World at Sentosa
Said a spokesman for the bank: 'It is our priority to help DBS staff with the transition. What's more, the bank has been in talks with companies in various industries with regard to outplacement and career opportunities just for them.'
The resort will not say how many local people and foreigners it will hire.
But Ms Seah-Khoo said: 'We have always promised and are committed to hire as many locals as possible.'
She conceded, however, that some of the 200 managerial positions on offer will have to be filled by foreigners, as there are few here who have experience in working at such attractions. The resort is currently in talks with people from overseas theme parks like Disneyland.
But she said that the rest will mostly be Singaporeans. Most of the 100 supervisors, she said, are likely to be Singaporeans, and they are the ones who will be sent for the Orlando training stint.
The positions on offer now include ride and show service managers, attraction supervisors and executive chefs.
When asked about starting salaries for the jobs, Ms Seah-Khoo declined to comment, citing 'competitive reasons'.
But she added that they would be 'commensurate' with market rates.
Among the first to be hired for Universal Studios Singapore was Ms Karen Lim. The 32-year-old had previously worked in Ducktours and looked after attractions in Sentosa Leisure Group.
She will be looking after admissions to the park for Resorts World at Sentosa.
She said: 'I was willing to take a pay cut just to be part of the team.'
Ms Karen Lim is hired at Universal Studios Singapore
Resorts World at Sentosa has also arranged for 100 students from Singapore Polytechnic, Ngee Ann Polytechnic, Nanyang Polytechnic and Temasek Polytechnic to be the first to get internships at the Universal Studios parks in the US.
This, the company said, is part of its promise to bring benefits to Singapore.
The recruitment drive for theme park workers is a prelude to a bigger campaign in June next year, when the resort, which opens in March 2010, will look to fill the bulk of the 10,000 positions available.
Ms Seah-Khoo said it is holding talks now with various government agencies on recruitment and training initiatives.
By the end of next year, Ms Seah-Khoo expects to increase the number of staff on the payroll to 8,000. The remaining 2,000 will be hired just before the resort's opening.
Singapore's two IRs are expected to generate some 20,000 jobs.
Response has been keen: Marina Bay Sands, which kicked off its hiring blitz late last month, has received more than 10,000 responses to date.
weichean@sph.com.sg
For more information on positions available at Resorts World at Sentosa, go to www.rwsentosa.com/en_careers.html
Rapid prototyping is the most common name given to a host of related technologies that are used to fabricate physical objects directly from CAD data sources.
Our subsidary service RPWorkshop.com provides Rapid Prototyping service in Singapore. Just email us your 3D CAD file and we will advise accordingly. You can easily / quickly convert digital files into physical models, for product testing, research, or presentation purposes.
These methods are unique in that they add and bond materials in layers to form objects. Such systems are also known by the names additive fabrication, three dimensional printing, solid freeform fabrication (SFF) and layered manufacturing. Today's additive technologies offer advantages in many applications compared to classical subtractive fabrication methods such as milling or turning:
Objects can be formed with any geometric complexity or intricacy without the need for elaborate machine setup or final assembly;
Rapid prototyping systems reduce the construction of complex objects to a manageable, straightforward, and relatively fast process.
This has resulted in their wide use by engineers as a way to reduce time to market in manufacturing, to better understand and communicate product designs, and to make rapid tooling to manufacture those products. Surgeons, architects, artists and individuals from many other disciplines also routinely use the technology.
Rapid prototyping isn't a solution to every part fabrication problem. After all, CNC technology is economical, widely understood and available, offers wide material selection and excellent accuracy. However, if the requirement involves producing a part or object of even moderately complex geometry, and doing so quickly - RP has the advantage. It's very easy to look at extreme cases and make a determination of which technology route to pursue, CNC or RP. For many other less extreme cases the selection crossover line is hazy, moves all the time, and depends on a number of variably-weighted, case-dependent factors. While the accuracy of rapid prototyping isn't generally as good as CNC, it's adequate today for a wide range of exacting applications.
The materials used in rapid prototyping are limited and dependent on the method chosen. However, the range and properties available are growing quickly. Numerous plastics, ceramics, metals ranging from stainless steel to titanium, and wood-like paper are available. At any rate, numerous secondary processes are available to convert patterns made in a rapid prototyping process to final materials or tools.
It is a real nightmare to find out after spending so much time and money, that your degree belongs to a diploma mill which is neither recognized in Singapore nor anywhere in the world. In general, a degree will be recognized in Singapore if it is from a University accredited by the Government of the country where the University is situated. So how do you find out which are these accredited universities...
To start a private company in Singapore certain procedures and regulations are to be followed. Most of the companies in Singapore are private companies that are limited by the shares. To open a private company called pte ltd, you have to register it under companies act chapter 50. ACRA is the centralized authority for approving and registering private companies. Company is a legal entity and you can manage it by means of your shares. This entity can hold a property and for any legal issues, it can be sued. You become the owner of the company if you hold some or all shares of the company. The price of the share can be anything ranging from $1.
Any individual or a company can register a private company.
To start a company, you need to appoint at least one director who is above 21 years of age. The directors you appoint should be either a permanent resident of Singapore or a Singapore citizen or employee pass holder or dependent pass holder or hold approval-in-principal employment pass.
The directors you appoint should not be bankrupt or dishonest. Those persons who have been convicted for any case of dishonesty are disqualified for becoming a director. You should seek the help of your lawyers to identify suitable persons for acting as directors.
For starting a private company, you need to appoint at least one director and one shareholder. The same person can be appointed with both designations. However, it is better to employ two directors, as two signatories are demanded by most of the financial institutions.
Your company can be called a private company if you have no more than 50 shareholders. If this number is exceeded, then you have to call your company as a public company that is limited by shares.
To get the ACRA approval, you have to decide the business name and the business location for setting up the company. The name should be unique and you cannot choose a name that is close to another business or a name that already exists.
Next step is to get a SSIC code for the company which specifies the nature of your business activity. This is important for all companies because using this code the government can identify the licenses and permits that are required for your business. You have to top up your medisave and keep it up to date.
The Singpass is essential for filing up the BizFile which is required for registering your company. This Singpass is a password which enables communication between your company and government authorities.
After obtaining the password, you should open a BizFile and login using the singpass. Then you have to make the payments for the registration fees charged for your company. Irrespective of the type of company, you have to pay $15 for the business name and since you are opening a private company, you have to pay $300 for registering the company.
Appropriate licenses have to be obtained from the government authorities and you can register your company by getting help from the legal firms. After obtaining all the permits, you can open your private company in the registered location.
INFORMATION-TECHNOLOGY director Samuel Schwarz, 38, believes that doing a master of business administration (MBA) will help him during the current economic slowdown.
"I think it assures my employer that my skills are up-to-date and...it would be easier to find employment elsewhere should I unexpectedly get retrenched," said the Singapore permanent resident, who is doing the course at online graduate school U21Global.
And he might not be alone in taking up an MBA programme during bad times.
Mr Nick Hutton, chief executive of U21Global, said that past experiences have shown that a downturn "often led to a surge in MBA course applications".
Tertiary institutions my paper contacted also made similar observations. However, they are unable to provide the latest application figures for their MBA programmes because applications are still ongoing.
But they said they did notice more applications during previous downturns such as the one in 2003, when Singapore was hit by the deadly Sars disease.
This year, among those who attended information sessions for the MBA offered by Nanyang Business School, employees from the financial-services sector showed "strong interest" in the course, said Associate Professor Chung Lai Hong, head of the MBA programme.
Additionally, an economic downturn is a good time for employees to acquire new skills.
A National University of Singapore Business School spokesman said that "many applicants will take the opportunity...to upgrade themselves".
And many think having an MBA allows them "to take advantage of the economy when it recovers", said the Singapore Institute of Management.
But human-resource practitioners said that an MBA is not a guarantee for job security.
Said Mr David Ang, executive director of the Singapore Human Resources Institute: "When a company is retrenching, it retains employees who have performed well, are experienced and have contributed to the company."
It takes more than an MBA to get a job. Said Mr Tim Hird, managing director of recruitment firm Robert Half Singapore: "As the job market gets more competitive, individuals with relevant work experience, qualifications and a strong skill set will have an edge."
Trade Minister Lim Hng Kiang said yesterday that economic growth may dip below 4 per cent this year, even as global financial markets try to turn the corner.
Mr Lim also addressed how the United States financial fallout has hit - and could further affect - Singapore.
'The financial difficulties in the US have led to de-leveraging and credit contractions, therefore slowing global growth,' said the minister, who was speaking to the media on the sidelines of the Latin Asia Business Forum 2008.
'That means more difficult export markets for Singapore companies and for our economy...later this year and going into next year.'
He added that he expects economic growth to be 'closer to 4 per cent, maybe even a bit below 4 per cent, depending on how the financial crisis pans out over the next few weeks and months'.
His forecast comes on the back of the Government's revision of its full-year forecast from 4 to 6 per cent previously to 4 to 5 per cent last month.
'We expect the economy to slow down - it's inevitable but we are confident...we are well-placed to ride this cycle,' said Mr Lim.
He said Singapore is 'as well-prepared for these difficulties as we can ever be' because of a well-diversified economy.
'We have our domestic economy to hold us up and we are also looking for other growth opportunities in Asia, Latin America and the Middle East.
'So we hope that with our exposures in different markets and diversification of different sectors...we will be able to ride through the difficulties.'
He also dismissed the notion that Singapore would slide into a technical recession - two consecutive quarters of negative growth. 'What is important for Singaporeans is whether we can keep the jobs going,' he said, adding that the Republic's 'very steady pipeline' of investments and different projects will keep generating jobs.
He also pointed to the possible benefits that could arise out of the ongoing financial system troubles: 'In every crisis, there will be opportunities but I wouldn't overplay the opportunities.
'Our first priority is to make sure we ride through this; that our ship is steady and that we continue to generate employment and Singaporeans are not too hard- pressed because of these difficulties.'
Mr Lim said that it was also fortunate for Singapore that China, India and the rest of South-east Asia are still 'holding up reasonably well'. 'And in Latin America, they are having fairly good growth at more than 5 per cent, so we should hitch on those opportunities there,' he added.
Working together with Singapore was one of the two key themes that dominated yesterday's main plenary discussion between government officials from Trinidad and Tobago, Peru, Brazil, Chile, Panama and Mexico. The other was the strong desire of the delegates to emulate Singapore's success as a gateway to Asia.
'We have already signed 57 free trade agreements and 97 per cent of our exports flow to those countries,' said the Chilean Vice-Minister for Finance, Ms Maria Olivia Recart Herrera. 'So like Singapore in Asia, Chile can be an open door to Latin and South America.'
Panama's Deputy Minister for Foreign Trade, Mr Severo Sousa, agreed: 'Yes, we too are often referred to as the Singapore of Latin America and that's because with our Panama Canal, we are really the gateway to the Americas.'
Peru, the latest Latin American nation to sign a free trade deal with Singapore - after Panama - cited similarities between Singapore and Peru in terms of how easy it is to run a business. 'Like Singapore, we give the same treatment to both foreign and local businessmen so as to facilitate more opportunities,' said the nation's Foreign Commerce and Tourism Minister, Ms Mercedes Araoz Fernandez.
The comments struck a chord with Mr Lim: 'That's our job in Government: To provide these opportunities to as many Singaporean companies as possible, be it in Asia, Latin America and the Middle East.'
Singapore's employment situation worsened in Q3 2008 with the addition of 57,800 new jobs, compared to 71,400 last quarter and 58,600 in Q3 2007.
The export-driven manufacturing sector created only 4,900 jobs due to weaker external demand, compared to 10,000 in the March - June period.
Job growth in services dipped slightly to 36,200 from 38,300 in Q2 2008, while the booming construction sector added a modest 16,400 jobs compared to last quarter's record high of 22,400.
While unemployment remained unchanged at 2.2% after seasonal adjustments, the number of retrenched workers rose to 2,000 from 1,798 in the previous quarter, mostly from electronics manufacturing.
THE current recession - albeit a 'technical' one - could spell bad news for novices in the workforce, especially if you believe the ominous adage: 'Last one hired, first one fired.'
Lest you think it was coined by older workers trying to protect their positions, take it from business management lecturer Sarah Lim, 46, who says: 'With Singapore sliding into recession, the first people to go will be youth because they lack experience, skills and qualifications.
'In general, with all businesses, they will be the first to go.'
This is also true if history - worldwide - is anything to go by.
During the 1998-1999 recession, a fallout of the Asian financial crisis of 1997, surveys showed that young job-seekers could expect a drop of between 10 and 20 per cent in starting salaries compared with their cohorts from the previous year.
That is, if they had a job at all, given that the overall employment rate for 1998 university graduates fell to 83.4 per cent, an 11.5 percentage point drop from 1997.
In Japan, in 2001, the unemployment rate for youth aged 15 to 24 logged in at double the national average - 9.7 per cent, against 5.4 per cent overall.
Before that, in 1989, before the recession hit in Canada, 62.3 per cent of Canadians aged 15 to 24 were employed.
By November 1992, the number had fallen to 50 per cent.
The good news is, you do not have to be a sitting duck.
Sure, a recession is a legitimate reason for bosses to start targeting deadwood, by asking who is worth their salary or who is contributing to the future of this company. Or even just, who do we like?
But with such a captive audience among decision-makers, it is also your time to shine. With everyone gauging your value, it is the perfect opportunity to make yourself 'recession-proof'.
So, become invaluable.
One way, say reports from CNN and The Times, is to be more of a 'flexible generalist'. Pick up tasks that fall outside your role, do not rock the boat.
Another way is to get to your company's core, says Ms Nancy Collamer, founder of LayoffSurvivalGuide.com.
According to the career expert, whose advice appears in multiple media outlets, including Fortune, Newsweek and Time, you should get involved in a project that is at the heart of your company's mission: making money.
Last but not least, when in the office, stay there.
Mr John Challenger, chief executive of job placement consultancy Challenger, Gray & Christmas, says: 'Those who have a daily presence and are seen before and after regular hours will be the ones who stand out as indispensable.'
And while you are there, do not just sit. Make your time count because when the axe falls, it is what you do not do that will hurt you most.
If nothing else, you will be able to breathe more easily, having done what you can to prevent your career from being short-circuited during hard times.
We are doing a mention on these 3 sites, tracking local contests, events, promotions etc. You will find posts on our Xmas Draw for one of these netbooks (Acer Aspire One, AsusEEE, Dell Mini 9, LenovoIdeapad, MSI Wind).
Do check them out too as they are frequently updated.
(Credit to livinginsingaporetoday.com) A total of 72 positions are now open for application across 13 different departments. Here is the summary of the positions they are looking for (correct as at posting, please check their website for update).
Casino Casino Accounting Shift Manager Croupier
Entertainment General Manager (Showroom) Technical Manager
Food & Beverage Vice President, Food & Beverage Operations Director of Culinary Operations
Finance Assistant Vice President / Senior Manager, Gated Attractions Manager, F & B / Retail
Human Resources & Training Manager (Shared Services) Assistant Manager/Senior Executive (Shared Services-SOP) Senior Executive (HRIS) Assistant Vice President (Relationship Management) Senior Manager / Manager (Relationship Management) Senior Executive / Executive (Relationship Management) Manager, Training (Curriculum Designer cum Trainer) Training Manager (Shared Services) Training Manager
IT IT Project Manager Database Administrator IT System Administrator Gaming Analyst System Analyst Application Designer / Developer Reports Designer / Developer (2-year contract) System Administrator
Resorts World at Sentosa wants to hire 2,300 people for its theme park operations by the second quarter of next year.
Its assistant vice-president for Communications, Robin Goh said the company has started to fill 300 managerial and supervisory positions for the Universal Studio operations here.
The integrated resort will send 100 of them to the Universal Studios in Orlando, US for some four months of training.
Mr Goh said some of the 200 managers will spend about two weeks there.
He said this will cost Resorts World at Sentosa about S$5 million. This is part of the company’s training budget.
This news comes less than a month since Marina Bay Sands Resort announced its massive recruitment drive.
Resorts World at Sentosa confirms its on track to open in early 2010.
Mr Goh said the integrated resort will also keep its promise of offering 10,000 jobs where Singaporeans will get priority in the hiring.
Of the 10,000 jobs, 30 per cent or 3,000 jobs will go to the Universal Studios operations here.
In addition, Resorts World is also working with four polytechnics - Temasek, Ngee Ann, Nanyang and Singapore Polytechnics.
They’re planning to send about 100 of the poly students to the Universal Studios in Orlando for internships starting next year. They’ll spend about four months there.
When the students return home, they may get a job at the Universal Studios in Singapore. - CNA/vm
Central Provident Fund (CPF) cuts is a last-resort measure to keep business costs down, said Labour chief Lim Swee Say in an exclusive interview on Monday.
He added that the Manpower Ministry (MOM) will soon announce measures to help existing and laid-off workers afford retraining programmes.
The International Monetary Fund (IMF) has projected that the world economy will grow at about 2 per cent next year – more than half that of last year’s and worse than the growth levels in the last financial crisis in the late 1990s.
Twice-retrenched Roger Soh first lost his job in 1998 and had found it hard to find re-employment. Even his last job as a relocation consultant fell through when fewer expatriates were sent to Singapore.
The 53-year-old former forex trader is now an administrator at the Singapore Professionals and Executives Co-operative, earning one-eighth of his previous salary.
“I was looking for a job based on my experience and my background, but the job market is really tough. I’ve come to a point where I think I should change my mindset if something comes along. It’s good to just take the job and see how it goes from there,” Mr Soh said.
West Coast GRC MP Ho Geok Choo, who started the Singapore Professionals and Executives Co-operative in 2000 to help PMEBs find gainful employment, sees opportunities for this group of workers in the current crisis.
“We are going to see the emergence of what I call ‘the freelance economy’, made up of consultants, made up of sub-contractors, made up of outsource agents,” said Ms Ho.
Apart from venturing into freelancing, Mr Lim said tripartite partners are ready to ramp up their existing Employment and Employability Programme, including one that helps executives re-skill for a new industry.
“If he or she is prepared to go for retraining, prepared to adapt to a new working environment, there’s still hope for our retrenched workers to go back to the job market again.
“As we go through the recession, a growing number of workers will have to adapt themselves and maybe take on a different job with different pay,” said Mr Lim.
The National Trades Union Congress (NTUC) is working with the DBS Staff Union to help its retrenched staff find jobs through retraining. DBS recently announced that it would cut 900 jobs by the end of this month.
As for concerns about CPF cuts – a social security scheme to keep business costs down – Mr Lim said for now, this would likely not be implemented.
“Any talk about CPF cuts at this moment is way too premature because there are 1,001 things we can do to prepare ourselves, to strengthen ourselves to ride through this crisis,” he said.
Mr Lim also assured workers that tripartite partners will not be looking for easy solutions for companies, which may be painful for workers.
Finance Minister Tharman Shanmugaratnam has said next year's Budget will focus on helping businesses cope with the economic downturn.
Although he did not give details, Mr Tharman said companies will be given priority, as opposed to this year's Budget where families got help to cope with rising costs.
Mr Tharman also said Singapore would be able to ride out the global economic downturn as 'we are operating from a position of strength, not weakness'.
He said that saving a good part of last year's budget surplus will help tide Singapore through.
"Even with the large package of support that we provided households in this year's Budget, we did not spend all of the surplus we gained last year. By conserving resources, we can now respond to the coming downturn with confidence," he said.
Mr Tharman said Budget 2009 will continue to support families who suffer job cuts, but companies will get priority.
"The coming Budget will focus especially on helping businesses with their costs and cash-flow, and supporting them in their efforts to stay competitive. This will be the most effective way to help the economy as a whole, reduce job losses and help most Singaporeans," he said.
Other ways include investments in education and infrastructure.
"The best way we can help is not through unconditional handouts, but by helping Singaporeans stay employed, and supporting everyone to get retrained and upgraded," Mr Tharman said.
The finance minister was opening a memorial hall to commemorate Singapore's pioneer businessmen.
Mr Tharman said the situation today is different from the circumstances faced by Singapore's pioneer businessmen,
But he said there are also similarities. For example, the future was also uncertain, but with determination and by taking calculated risks, these businessmen created opportunities for themselves and for Singapore.
With Netbooks in the rage now, we have selected the Acer Aspire One (we gave one out during the launch lucky draw), Asus EEE Pc, Dell mini 9, Lenovo IdeaPad and MSI Wind as the poll items.
We invite you to vote for the Netbook we should choose as the prize.
On 25th Dec 2008, we will award one lucky Jorbber / Jorbbee with the highest voted Netbook!
All you have to do is signup as a Jorbber / Jorbbee. Existing Jorbbers / Jorbbees are eligible for the draw.
Good luck!
Acer Aspire One
Asus EEE
Dell mini 9
Lenovo IdeaPad Netbook
MSI Wind
Winners to be announced 25th Dec 2008. Judges reserve rights to replace prizes of similar value. Judges decision is final. All registered users will qualify for the draw. Winner to be contact via email registered in system. Unclaimed prize will be forfeited after 30 days. Jorbb.com is not affiliated with, sponsored by or endorsed by any of the listed products or retailers. Contest open to Singaporeans / PRs only. Trademarks, service marks, logos, (including, without limitation, the individual names of products and retailers) are the property of their respective owners. Jorbb gets Jobs for You! Job Seekers join Free / Employers Post 1st Ad Free. Earn credits to exchange great gifts. Follow Jorbb on Twitter, Friendfeed, Facebook Group and Mobiles/iPhones!
Even people who work in the HR consultancies need training, and with recruitment companies looking at a slowdown in business, many are maximising their return on employee investment by sending employees for training.
Mark Dalgarno, director sales and marketing for Rectrain Recruiter's Academy says due to the economic slowdown, recruitment companies aren't working at the full speed that they once were. Furthermore, many of them are not looking to add to their headcount as well. Hence, many are now looking into training their employees in order to obtain maximum value from their employees through training.
Rectrain Recruiter's Academy is a newly launched training provider aimed at training recruitment consultants. It is first implementing a three-day training programme that covers aspects such as interviewing techniques, crafting effective advertisements and managing expecations of both clients and candidates. But how is it that consultants are working in their roles but don't have the skills to be effective in their job? Julie Bebb, associate director, says through talks with recruitment firms as well as her own recruitment consultant, the onus of training people and getting them up to the right skills lies with the managers or the organisation. While some firms have their own training programmes, many rely on on-the-job training, whereby a new hire sits shadows a more experienced consultant for a week, Bebb says. However, there is a drawback to OTJ as it is too time-consuming, Bebb adds. "From the colleague's point of view, there is the added responsibility of having to train somebody else as well as do their own job."
Rectrain first aims to target recruiters from headhunting and staffing firms initially and will soon develop programmes for corporate HR recruiters and resourcing practitioners.
THE current recession - albeit a 'technical' one - could spell bad news for novices in the workforce, especially if you believe the ominous adage: 'Last one hired, first one fired.'
Lest you think it was coined by older workers trying to protect their positions, take it from business management lecturer Sarah Lim, 46, who says: 'With Singapore sliding into recession, the first people to go will be youth because they lack experience, skills and qualifications.
'In general, with all businesses, they will be the first to go.'
This is also true if history - worldwide - is anything to go by.
During the 1998-1999 recession, a fallout of the Asian financial crisis of 1997, surveys showed that young job-seekers could expect a drop of between 10 and 20 per cent in starting salaries compared with their cohorts from the previous year.
That is, if they had a job at all, given that the overall employment rate for 1998 university graduates fell to 83.4 per cent, an 11.5 percentage point drop from 1997.
In Japan, in 2001, the unemployment rate for youth aged 15 to 24 logged in at double the national average - 9.7 per cent, against 5.4 per cent overall.
Before that, in 1989, before the recession hit in Canada, 62.3 per cent of Canadians aged 15 to 24 were employed.
By November 1992, the number had fallen to 50 per cent.
The good news is, you do not have to be a sitting duck.
Sure, a recession is a legitimate reason for bosses to start targeting deadwood, by asking who is worth their salary or who is contributing to the future of this company. Or even just, who do we like?
But with such a captive audience among decision-makers, it is also your time to shine. With everyone gauging your value, it is the perfect opportunity to make yourself 'recession-proof'.
So, become invaluable.
One way, say reports from CNN and The Times, is to be more of a 'flexible generalist'. Pick up tasks that fall outside your role, do not rock the boat.
Another way is to get to your company's core, says Ms Nancy Collamer, founder of LayoffSurvivalGuide.com.
According to the career expert, whose advice appears in multiple media outlets, including Fortune, Newsweek and Time, you should get involved in a project that is at the heart of your company's mission: making money.
Last but not least, when in the office, stay there.
Mr John Challenger, chief executive of job placement consultancy Challenger, Gray & Christmas, says: 'Those who have a daily presence and are seen before and after regular hours will be the ones who stand out as indispensable.'
And while you are there, do not just sit. Make your time count because when the axe falls, it is what you do not do that will hurt you most.
If nothing else, you will be able to breathe more easily, having done what you can to prevent your career from being short-circuited during hard times.
Meetings are always important in all types of businesses and companies. You might have participated in many meetings and sometimes, you may be obliged to conduct meetings. As a top performer, you have to know how to conduct meetings effectively. There are a lot of aspects that you have to consider while conducting meetings. The first thing you should consider is the necessity of the meeting. If the task can be accomplished without meetings, then you need not waste the resources. However, if meeting becomes very important, try to organize effective meetings.
Decide the start and end time of the meeting. Depending on the persons you are going to invite, you have to make this decision. You have to decide the duration of the meeting based on its purpose. If you have participants from other timezones, use World Clock Meeting planner to find a common time. Video conferencing is made easy with new web2.0 sites such as Orgoo, Vyew, Snapyap, TokBox.
Invite all the people for the meeting and communicate the timings to them. Ensure that the invitees will be present during the meeting. Try Vyew as it includes scheduling / ad hoc invites.
Use Google Docs to prepare an agenda for the meeting so that everyone can edit 1 single document online. You can also create an open agenda and stick to whiteboard. The participants can add their agenda but they should take the lead during that agenda. After getting suggestions, you decide on what is to be discussed during the meeting.
You have to take the lead during the meeting. Know about your audience and talk in their language.
Decide who is going to speak what during the meeting. This will help you in taking up the lead position and you can let the non speakers speak up during their turn.
For 1-2 hours meetings, do a time check at fixed intervals e.g. 15mins. If meeting is behind time, cover important matters first, and leave the rest to be discussed via email / next meeting. If you are arranging for longer meetings, make sure that you break the schedule for 15 minutes after 2 hours of meeting. The participants can refresh themselves during the break.
When you conduct formal meetings, the decisions should be made in the meeting with the opinions of the majority of the people. You can use online editors such as FineTuna and Skitch to allow participants to comment live on images / proposals etc. Vyew allows you to prepare and save slides for commenting before a meeting.
You must be ready for inclusions during the meeting. The participants may come up with certain new things that can be added to the discussion. You can add the program if it can be completed within the scheduled time. Otherwise, postpone it until the next discussion.
Use Google Docs or Business-in-a-Box to mantain the Minutes of Meeting live, during the meeting itself so that no additional time is needed to distribute / edit / proof the minutes.
Employment in Singapore grew by 57,800 in the third quarter this year, according to preliminary estimates by the Manpower Ministry.
The growth was lower than the gains of 71,400 in the preceding quarter and 58,600 in the third quarter of 2007.
After rising for two straight quarters, the overall jobless rate remained at a seasonally-adjusted 2.2 per cent in September, unchanged from June this year but higher than 1.7 per cent in September 2007.
Job growth was strongest in the construction sector. With a strong pipeline of building projects, construction employment grew by 16,400 in the third quarter of 2008, but lower than the record 22,400 gains in the previous quarter.
Meanwhile, the services sector added 36,200 jobs, lower than the gains of 38,300 in the second quarter but higher than 34,100 in the third quarter of 2007.
Amid weaker external demand, employment in manufacturing grew by 4,900 in the third quarter, half the increase in the previous three months.
GIVEN the current economic climate, the job market is expected to get worse before it gets better.
But employers should not take the easy way out and cut costs by laying off workers at the first sign of trouble, said Dr Ahmad Magad, an MP for Pasir Ris-Punggol GRC, yesterday.
'Employers should think twice before laying off their people, as recruitment and training costs can also be very high,' said Dr Ahmad, who chairs the Government Parliamentary Committee for Manpower.
'They should take the longer-term view and take advantage of this period to help their staff hone their skills and improve themselves,' he added.
He said that in 'turbulent times like now...we should not cut back on training and investment in our human capital, in order to prepare for recovery'.
The scheme, first announced in October last year, requires candidates to meet a stringent set of criteria, including getting at least five years of experience, taking training courses and passing an exam to obtain accreditation.
The industry-led initiative was borne out of a rising number of complaints about the varying levels of management consultancy services in Singapore.
It is conducted by the Practising Management Consultant Certification Board, which operates independently to award the accreditation.
The chairman of the certification board, Mr George Huang, said it would take anything from a week to months for a practising management consultant to qualify, depending on his experience.
The certification will cost an initial $1,800 to $3,500 for the first two years, after which it can be renewed for $700.
A pioneer batch of 31 consultants was awarded this certification yesterday.
Mr Huang estimates that there are about 10,000 such consultants in Singapore, of whom 3,000 are active.
'We expect the number of accredited consultants to grow with this scheme...as it's a form of quality control that differentiates the good consultants from the bad,' he said.
Spring Singapore chief executive Png Cheong Boon said he believed the scheme would raise industry standards, and urged firms to choose accredited consultants.
Spring Singapore, IE Singapore and the Singapore Workforce Development Agency are supporters of the new scheme.
Flexible wage system may soften blow; some sectors to stay buoyant
By LYNETTE KHOO
(SINGAPORE) As the financial crisis spills over into the real economy, it comes as no surprise that economists, as well as the Monetary Authority of Singapore (MAS), expect the jobless rate to rise steadily from the 2.2 per cent seen in the third quarter.
Looking good: Wage restructuring since 2003 will allow companies to make quicker adjustments to their wage costs in the event of sudden and severe business downturns rather than resort to firing, HR consultants say The question is how high this could rise and how wages would be hit.
The highest jobless rate projection came from CIMB-GK economist Song Seng Wun, who believes that in a worst-case scenario, the unemployment rate could hit 5-6 per cent - in which case it would beat the 4 per cent annual jobless rate seen during the Sars crisis in 2003.
OCBC economist Selena Ling says she expects the jobless rate to cross 3 per cent next year as companies turn cautious on hiring and may even be forced to retrench more aggressively should the domestic technical recession become a prolonged downturn.
Also, another worry has descended on job creation, after employment grew by 57,800 in the third quarter, from a near record of 71,400 in the second quarter and 58,600 in Q3 2007.
This may mark an inflexion point from past record-breaking years, where job gains rose by a record 234,900 in 2007, far surpassing the gains of 176,000 in 2006.
Citi economist Kit Wei Zheng notes persistently declining labour productivity growth may place pressure on employers to shed jobs in the coming quarters. ‘The brunt of the job cuts will likely come from the manufacturing sector,’ he adds. ‘Electronics in particular could lose more jobs as the cyclical downturn accelerates the structural relocation of key manufacturing operations in 2009.’
The employment cycle typically lags the growth cycle by two quarters, according to DBS economist Irvin Seah. Any job losses would hence happen only in the first half of 2009.
Some 1,900 net job losses could occur in the manufacturing sector and a net loss of 500 jobs could take place in the financial services and business services sectors each next year, Mr Seah predicts.
While economists expect job creation to slow significantly, the labour market may be able to sidestep the massive net job losses seen in past recessions.
There was a net loss of 23,000 jobs during the dotcom bubble burst between 2001 and 2002, and another 12,900 jobs during the 2003 Sars period. Singapore’s first employment contraction during the Asian financial crisis saw some 23,400 jobs slashed, Ministry of Manpower (MOM) statistics show.
This time around, job losses in the manufacturing and financial sectors may be offset by gains in other sectors, such as the construction sector and vacancies to be filled at the two upcoming integrated resorts (IRs), economists say. The flexible wage system could also come in handy.
‘There could be some buffer because Singapore’s economy is slightly diversified from manufacturing and electronics per se, towards the services sectors,’ says OCBC’s Ms Ling. ‘Plus, we have the IRs coming up from the end of next year, which have indicated that they will hire tens of thousands of workers just to staff the IRs alone.’
Despite the lack of local talent acquainted with IR operations, HR consultants are confident there is unlikely to be significant skill mismatch among those looking to join the IR industry. ‘There are avenues available for prospective employees in the IR industries to gain training,’ says Annie Yap, chief executive of The GMP Group.
‘And with the substantially vast industry involving a broad range of required disciplines from service and securities to IT and marketing, people do not necessarily start from scratch, but rather align their skills to a job that is related to a certain degree.’
Wage restructuring since 2003 - with a shift towards a higher portion of employees’ salaries becoming variable and linked to performance - will allow companies to make quicker adjustments to their wage costs in the event of sudden and severe business downturns rather than resort to firing, HR consultants say.
As at December 2007, 84 per cent of the workforce in the private sector was under some form of flexible wage system, according to MOM data.
HR consultants are not expecting big cuts in basic wages, though pay increments and bonus payments may face some pressures.
‘Although companies are gearing up to fight back through various cost-cutting mechanisms, substantial or drastic measures like wage cut, bonus freeze, etc, are not on the cards,’ says Kulshaan Singh, client strategy and growth leader at Hewitt Southeast Asia. ‘This is the time most companies are in a ‘wait-and- watch’ mode.’
He adds that some of his clients are taking ‘austerity’ measures like deferring bonus payments and salary increases, and ‘promising to revisit the decision after more clarity emerges’.
Are you bursting with business ideas everyday and hoping that one day, some of these ideas will transform into great businesses that you own? Have you ever wondered why some businesses succeed and why some fail, and how some small business can overtake the big boys in the industry? Most people dream of starting their own business. Yet few of them succeed. Sometimes it’s not about how good the product or business idea is. Conventional items can create hype among masses with unconventional way of promotion and packaging. And that requires creativity.
In this workshop, you will • Learn how to harness the secrets of entrepreneurship and marketing for bigger profits • Discover the power of 100 guerilla weapons and how to use them (most of the weapons are free!) • Increase your capacity to be creative and unique so as to cut through the clutter in the market and stand out from the rest • Find out what are the hot buttons people have and what attract them to buy • Spot the application of guerrilla marketing in everyday life • Analyze real businesses to understand what work and what don’t
Event details: Date: 6 Nov 2008 (Thurs) Time: 7.30pm to 9.30pm Venue: SMU School of Economics Classroom 4.3 Price: $30, $20 for SGE readers, quote “IMWITHSGE” when you register
99% of the time, the hard part about creativity isn’t coming up with something no one has ever thought of before. The hard part is actually executing the thing you’ve thought of. The devil doesn’t need an advocate. The brave need supporters, not critics. And we are here to help you in unleashing the great business ideas in you such that you can make bigger profits without spending a lot of money.
Sign up now (email to RSVP) to find out how to turn ideas into products and turn products into profits.
What is Guerilla Marketing? Guerrilla Marketing is about going after conventional goals with unconventional methods, giving birth to ideas and tactics that bring about large profits from no or little investments. It is about using creativity and extreme sensitivity to what the people want. Guerrilla Marketing has extended to almost all fields that encompass marketing – from what it takes to start a small business, to sales, advertising, psychology and customer service. www.GMarketingSkills.com
The services sector is less upbeat about business prospects for the six months to March 2009, according to a quarterly survey conducted by the Singapore Department of Statistics.
The poll, which was conducted from September to mid-October, covered some 1,400 firms.
A weighted 15 per cent of the companies expect business to improve, but 30 per cent foresee a less favourable environment.
Of those surveyed, 55 per cent think business conditions will stay the same in the next few months until March 2009.
For the fourth quarter, the services sector expects operating receipts to remain similar to the preceding three months.
Manufacturing, financial services most gloomy but hotels, eateries unfazed
GLOOM is spreading among firms in the key manufacturing and service industries in Singapore, as the global economic slowdown intensifies.
More companies now expect business conditions to worsen over the next six months, compared to when they were last polled three months ago, according to two government surveys yesterday.
The most pessimistic are firms involved in financial services, property, chemicals, precision engineering, electronics and biomedicals. Likely to be the worst hit by the deepening financial crisis and weakening global demand, many more are forecasting cloudy skies ahead rather than sunny ones.
But hotels, restaurants and caterers are surprisingly optimistic, with four in 10 predicting a brighter outlook between now and next March. More than 90 per cent also expect to keep the same number of jobs or hire more people by the year end.
This could be partly because of the upcoming holiday season, said Barclays economist Leong Wai Ho.
'Restaurants and caterers tend to be more hopeful as they approach the traditional peak festive period from November to January,' he suggested.
'Given that there have been no significant job losses to date, and that more Singaporeans may be scaling down their overseas holiday plans, restaurant and catering revenues here may not take too much of a hit.'
Elsewhere, however, the outlook is increasingly grim.
Among manufacturers, 28 per cent believe the situation will deteriorate between now and next March, up from only 12 per cent in July, said the Economic Development Board (EDB). It surveyed almost 400 manufacturing firms over the last two months.
Most of the remaining companies think things will stay the same, with about one in 10 expecting conditions to improve.
Companies in the service sector were slightly more optimistic, buoyed by the wave of cheeriness among restaurants and caterers.
On the whole, 26 per cent of service firms now believe things will get worse, up from 22 per cent in July, according to the Department of Statistics, which polled about 1,400 companies in the industry.
In particular, firms in financial services see a bleak immediate future across the board. From banks and finance companies to brokers and fund managers, not a single one predicted business conditions would improve in the next six months.
Real estate companies have an equally bleak outlook, with only 1 per cent believing things will get better soon and 42 per cent anticipating the opposite.
But for the fourth quarter of this year, most firms in the service sector are expecting business to remain stable. Almost all industries - including wholesalers, retailers, caterers and business services - also plan to hire more people than in the third quarter, with the exception of financial services and hoteliers.
For manufacturing, most industries plan to cut employment in the fourth quarter, except for the transport engineering and general manufacturing clusters.
Barclays' Mr Leong expects business expectations to 'get progressively worse'.
'All the signs in the United States, Europe and Japan are pointing to a more severe slump than we had earlier expected,' he said.
Getting out of the office and into the classroom is one of the perks of my job. Last week, I got to meet with the next generation of PR pros (PowerPoint is posted on Slideshare). When meeting with students, I offer the same advice and tell the same story.
While your diploma, degree or certificate will get you the interview, it's what you do while you're at school that'll get you the job.
So be bold. Take risks.
Failure isn't an option, it's a necessity and proof that you're hard-wired for innovation.
Step up. Go first. Don't wait for permission. Take the initiative to do something where you can make a difference and make your mark.
Remember that you and hundreds of other freshly minted grads will all head out into the workforce at the same time with the same piece of paper. You'll need a story that's all your own.
And that's when I tell the story about Colleen and Diana, two poster children for active citizenship.
The dynamic duo were the first to do field placements at a North End community centre. They started an after-school program and helped out with a mom's group.
Of all the things they did, their Halloween party stood out. The weekend before Halloween, Colleen and Diana decorated the community centre gym and foyer. And, without being asked, they cleaned the boy's bathroom without wearing hazmat suits.
The night before Halloween, Diana baked and decorated 100 cupcakes. On Oct. 31, they showed up at 6 a.m. They continued to decorate, talk with the press and co-ordinate a small army of student volunteers who showed up throughout the day. Colleen and Diana didn't call it a night until the last family left the community centre loaded down with candy.
More than 300 kids turned out for the Halloween party. Parents and grandparents couldn't believe the event was free and that students would choose to spend time in their neighbourhood instead of a pub. The crowd-pleasing event wouldn't have happened without Colleen and Diana's leadership.
I don't just share this story with students. I tell it to employers who call for reference checks on Colleen and Diana.
So you can talk about your leadership potential during job interviews.
Or you can show how you led and made someone's world a better place.
The good news is it's easier than ever for anyone to lead, says author, blogger and marketing guru Seth Godin. Student or CEO, young or old, new hire or workplace veteran, everyone can lead a tribe.
Godin defines a tribe as a group of people connected to one another, connected to a leader and connected to an idea. And those tribes are led by passionate, engaged and driven heretics.
Thanks to Facebook, LinkedIn, Ning, Slideshare, YouTube, blogs, e-mail and other web tools, it's easier than ever to connect with like-minded folks at work, in the community and halfway around the world.
"There are literally thousands of ways to co-ordinate and connect groups of people that just didn't exist a generation ago. All of it is worthless if you don't decide to lead. All of it goes to waste if your leadership is compromised, if you settle, if you don't commit," says Godin.
Yet lots of us balk. We believe we have to be ordained to lead. We have to get ourselves an MBA. Have the right job title on the office door.
No authority, no leadership. Better to play by the rules than try to bend or break them.
Fear's a big factor for many should-be leaders. It's one of our strongest, oldest and most hard-wired emotions, says Godin.
"What's interesting about the folks I meet who are engaged and are clearly heretics is that they've actively talked themselves out of the fear. The fear is still there, but it's drowned out by a different story. It's the story of success, of drive, of doing something that matters. It's an intellectual story about what the world needs and how your insight can help make a difference."
Leading is uncomfortable, says Godin. Standing up in front of strangers, proposing ideas that might fail, challenging the status quo and resisting the urge to settle are uncomfortable. "If you're not uncomfortable in your work as a leader, it's almost certain you're not reaching your potential as a leader."
Yet it's worth asking what's the worst thing that could happen and what's the downside of doing nothing. And should we really lose sleep over critics, cynics and the forces for mediocrity?
What's it take to lead? Godin says leaders challenge the status quo, create a culture around their goal and involve others in that culture. They have an extraordinary amount of curiosity about the world they're trying to change. They use charisma to attract and motivate followers.
Leaders communicate their vision of the future, commit to that vision and make decisions on that commitment. They also connect followers to one another.
We need leaders and tribes to create opportunities out of seemingly unsolvable problems in our community, from the kids who go to bed hungry, the teens who drop out of school, the highly skilled immigrants who can't find work. And these problems aren't just opportunities. These challenges are obligations that require leaders who'll inspire tribes to change the rules, raise the bar, play a different game and play it better than anyone else.
There could be higher retrenchment, says Acting Manpower Minister Gan Kim Yong
THE job market, already beset by worries over the economy, could turn worse over the next few months, resulting in more Singaporeans losing their jobs.
This is because employers could turn more cautious as a global slowdown takes hold, said Acting Minister for Manpower Gan Kim Yong yesterday.
Speaking after the Singapore Hotel Association's (SHA) annual awards ceremony held at the National University of Singapore Cultural Centre, Mr Gan said: 'I think, overall, the job market will continue to weaken towards the end of the year as businessmen turn more cautious.
'In hiring practices, they will be more cautious so job creation will slow down, there could also be higher retrenchment.'
His warning comes on the back of a Manpower Ministry report last week which showed that the job market was weakening.
The report said 2,000 workers were retrenched in the third quarter of the year, up from 1,798 in the previous quarter. Although unemployment was unchanged at 2.2 per cent, the report noted that 13,600 fewer jobs were added in the three months ending Sept 30.
The outlook may be bleak, Mr Gan noted, but he gave this assurance to workers: The Government, unions and Singapore National Employer's Federation are prepared, and they are ready to help those affected.
Workers will get training and upgrading opportunities, and will also be helped to acquire new skills so they can get jobs in sectors less affected by the downturn, he said.
He gave the example of manufacturing workers switching to the service sector, and said: 'We are looking at how to help them find jobs, match them with new jobs that are still being created.'
Yesterday, Mr Gan also had words of advice for the tourism sector, which has seen arrivals decline for four straight months.
Though the short-term outlook for the industry is shaky, he said tourism workers should strive to uphold high standards.
In a downturn, he explained, people are more likely to take short trips, so this means regional travel would help prop up the sector.
Looking down the road, he said things are much more rosy, with big events such as the Volvo Ocean Race early next year and the opening of the two Integrated Resorts in a few years on the calendar.
This means the industry should 'continue to train manpower so it can capitalise on the growth opportunities' later, he added.
At yesterday's ceremony, 1,928 service staff, ranging from junior sous-chefs to bell-hops, received Excellent Service Awards - an annual national prize which was launched in 1994 to recognise individuals who have delivered outstanding service.
Among those honoured yesterday was Mr Mohamad Yusoff bin Mohd Shah, 26, who started working in the service industry when he was 16, serving guests at Chinese weddings for $5 an hour.
Since then, the Institute of Technical Education (ITE) drop-out has relied on elbow grease to climb the rungs in the industry, and now runs Orchard Hotel's lounge bar.
Said the first-time winner, who has had praise lavished on him by many hotel guests: 'I feel great for being recognised for working so hard from the bottom. There was once I worked 24 hours at a stretch.
'It is all about passion. Have that, and it will overcome every obstacle. That, and a big smile on your face always.'
Considering the root of this crisis was in the banking and finance sector, its employees face the biggest risk of layoffs as the industry consolidates.
This difficult period will last for at least one to two years, say analysts.
Investment bankers, stock traders, analysts and bank tellers are particularly vulnerable, compared to those in specific functional roles such as risk, control and operations.
Some financial institutions are also turning to contract hiring as a way to fill back-end positions to keep costs down.
Any jobs considered to be support roles, or non-essential, may also be among the first to go, added analysts.
# Tourism and services
As consumer spending slows in tandem with the economic slide, the services and tourism industry is expected to take a significant hit.
With customers tightening their belts, employers in this sector may have to cut costs by laying off staff from businesses such as hotels and travel agencies.
Visitor arrivals have suffered four months of decline, so tourism will also be hit as regional travellers forgo holidays here.
Other workers who are at risk include semi-skilled and unskilled workers such as cleaners and waiters.
# Luxury and retail
During bad times, in-your-face luxury 'is suddenly very passe', analysts say.
Consumers are likely to cut back on luxury goods while high-end stores and luxury brands scale back staff numbers to reduce costs, they say.
The credit squeeze is likely to continue exerting pressure on consumer spending, so employment, salaries and bonuses in this industry could take a hit.
# Manufacturing
Singapore's manufacturing production numbers have been sliding because of weakening demand for exports.
Electronics, which makes up 30 per cent of Singapore's manufacturing sector, is expected to slide further as firms scale down information technology spending and defer outlays on tech upgrades.
Jobs in the manufacturing sector are vulnerable as a fall in demand could cause firms to scale back to cut costs.
# Transport and aviation
As consumers adopt a more conservative outlook and tighten their belts, demand for transport services such as taxis and flights is likely to be affected.
Fuel prices and falling demand could also take a toll on airline profits.
Carriers in the United States and India have already reported plans to retrench staff, including pilots, stewards and baggage handlers.
Five low-risk sectors
# Law
The legal profession is still seeing strong demand. In the current economic climate, analysts see a shift in terms of skill sets required, with a stronger call for insolvency and bankruptcy lawyers.
# Accountancy
As the finance industry consolidates, demand remains healthy for accountants, particularly cost management executives and those skilled in tax restructuring and managing distressed assets.
# Public sector, including teachers
The public service sector has always been a 'relatively stable sector' and remains the largest employer in Singapore, says recruitment firm Robert Walters.
Education is generally not affected by economic volatility, so teaching jobs, in particular, are relatively safe.
# Health care
Health care is generally regarded as recession-proof, although this depends on the nature of the service provided.
Optional surgical procedures such as cosmetic enhancements and dental services not covered by health insurance are likely to see a fall in demand.
The employment prospects for other occupations such as doctors, medical assistants and nurses are likely to remain stable.
# Energy
Countries will still need energy to run, so jobs related to oil and gas, and alternative, renewable energy are likely to remain relatively stable.
With the growth of climate change awareness fuelling a demand for 'green' skills in the energy sector, this industry is tipped to remain strong despite the current economic slowdown.
Forget about asking for a higher salary increment this year, as HR practitioners' salary increments are likely to range from 0 to 10%. Furthermore, if you are a talent management or a resourcing specialist, you may just find yourself out of a job too.
In a recent 2008 Q4 HR Salary and Economic Outlook Report, The Chapman Consulting Group says HR practitioners salary increments will likely to fall in the band of 0 to 10%. For the fourth quarter of the year, an HR regional head based in Singapore can expect to earn between S$280,000 to S$400,000, while a country head can earn anywhere between S$240,000 to $350,000.
However, while Matthew Chapman, managing director of The Chapman Group says HR practitioners should not dispair, as HR practitioners have seen dramatic salary increases in the past years and this decrease is just a way of normalising the market.
For people to receive a large salary increment when they change jobs, HR practitioners need to encompass one of the following factors, Chapman says. One of which is if the person was severely underpaid before, or if the company has a budget which would allow for a large increment. Another reason would be if the HR practitioner would possesses exceptional value such as strong business knowledge or specialist knowledge in HR and is highly sought after.
Furthermore, with companies tightening their budgets, Chapman predicts that companies may soon be re-evaulating and scaling back on HR positions which are "nice to have", such as resourcing practitioners and talent management/succession planning practitioners. Even operational functions may not be spared the axe, he adds.
While Chapman says he has yet to see widespread retrenchments in this field, he adds, "It is not to say that if you a recruitment person that your position will be cut. But it is fair to say when companies look at their hiring budgets for the future, if times don't improve, they might cut back on these positions," Chapman says.
And because HR is a cost centre, it becomes important for HR to demonstrate value to the business. "But when there is extra headcount, or too many people or people who aren't adding value, that is when you've got things to be worried about."
However, if companies do scale back, the ratio of HR practitioners to employees in a company will increase. They may be asked to extra roles or business units "until times improve and when companies feel safe in making investment in other people".
So is this a good time for HR practitioners to think about jumping ship now? Chapman says unless practitioners are unhappy with their current job, it is best for "staying stable with your career right now". Plus, for employees who are looking to move, they should exercise greater caution and conduct greater due diligence before they accept a job offer. Some of the questions to ask prospective employers include, "What is their strategy? Is HR being impacted by some of the recent events? If you're a team manager, what does your team look like?"
Train and retrain -- that is what the Workforce Development Agency (WDA) hopes the new Media Continuing Education and Training Centre will do for 3,000 professionals in the industry over the next five years.
