Growing pains Viewpoint careers advice blog

Growing pains Singapore needs to strike a fine balance between local and foreign hires if it is to maintain its economic growth. Singapore has an enviable location. An island at the heart of a collection of exciting Asian economies, the tiny state is well placed to act as a hub for its bustling corner of the world, and its reputation as a business-friendly centre of commerce has played a key role in attracting talent from overseas. There is good reason that multinationals such as Google, BP and Procter Gamble use the city-state as their regional headquarters. However, recent labour laws have added a layer of complexity to successful and international approaches to business, by prioritising local talent over foreigners, particularly for middle-income jobs.  That’s prompted a rethink for many industries, as Singapore’s market for highly skilled roles has been accustomed to a steady stream of talent â€" something that its small population and educational facilities struggle to keep up with. Alongside this is the Singaporean government’s recent focus on growing the population â€" a decision influenced by the economic success of densely populated Hong Kong, across the South China Sea, and the findings of a Population White Paper in 2013 predicting that Singapore’s rapidly ageing workforce would naturally shrink from 2020. In response, the state has called for a massive increase in population from 5.4 million to 6.9 million in 2030, with nearly 45 per cent of those new citizens coming from overseas. This led to public protests from opposition parties and Singaporean citizens, who complained that high living costs and insufficient state support discouraged young local couples from having children, and that an increased population â€" immigrant or otherwise â€" would overstress the 716km2 island’s limited urban infrastructure. The migrant balance While it remains committed to population growth, the government has placed emphatic preference on local candidates over foreign talent. One recent change is the Ministry of Manpower’s new ‘Fair Consideration Framework’. It says that, when recruiting for roles worth up to S$12,000 pa, any business employing over 25 staff must only search for Singaporean candidates for the first two weeks of a position becoming available, before widening the talent pool to foreign workers. These vacancies need to be advertised on the Jobs Bank, the Singapore Workforce Development Agency’s (WDA) new public job portal, which has been created to match local job seekers and employers. For jobs that remain unfilled, foreign workers must apply for access through a tiered work pass system, with more specialised jobs affording higher covering passes for spouses, children and parents too. There are no limits on the number of passes an employer can hold, but the acceptance of an application can depend on the financial state of the employer and the business’s ratio of foreign to local employees. Foreigners make up 38 per cent of Singapore’s 3.7 million workers, so while these regulations are not as restrictive as many other nations’, any barriers to hiring foreign workers risk economic growth. In the 31 countries surveyed in the 2014 Hays Global Skills Index, Singapore’s labour market slackened the most â€" a trait the Index correlates with low GDP growth. The search for skills Around 20 per cent of the 1,700 people Hays places in Singapore each year are brought in from overseas. Rising wage pressures in both high-skill occupations and high-skill industries illustrate how recruiters are being forced to look overseas and offer higher salaries to secure talent. Unemployment is at just under two per cent (one of the lowest rates worldwide) and there’s a clear skills shortage in the main industries of finance, oil and gas, shipping logistics, manufacturing, tourism and hospitality, technology and IT. Moreover, while Singapore’s educational performance is among the best in the Hays Global Skills Index, placing it second only to Hong Kong, its educational institutions seem unable to produce the scale of talent needed to meet the government’s ambitious growth targets. Hot sectors Accounting and finance is the largest sector in Singapore and is seeing 30 per cent year-on-year growth in jobs, particularly as Singapore sheds its back-office image and begins to attract the front-office and private banking work that was previously the preserve of Switzerland. The growth of the financial sector promises to bring in trillions of Singaporean dollars in assets from high-net-worth individuals and private banks, and its reliance on international expertise is an example of why Singapore needs to keep looking outward to maintain its strong reputation in the region, even if that is only attracting the returning diaspora of well-educated and professional Singaporeans. Another industry facing an acute skills shortage is life sciences, which has grown from nothing into a pillar of the economy in the past decade. While the state has created specific life science-focused degrees, they have only produced graduates in the past five years, meaning local candidates remain too junior and without the regional exposure many roles require. The frustrating thing for many businesses in Singapore is that the skills shortage is acting as an anchor on an otherwise unrestrained economy. Singapore is one of the world’s most attractive places to work, ranking second in the 2014 World Economic Forum Global Competitiveness Report. It boasts the third-highest GDP per capita in the world and the strongest overall environment for institutions, infrastructure, macroeconomics, health, and education. Notably, it scored highly for its transport infrastructure â€" an important feature for any country relying so heavily on trade. Three and a half hours’ flight from Singapore can take you to eight countries, it remains an easy place to do business and the Singapore Straits means it will remain an important centre for shipping. But facing such stiff competition from the growing economies around it, Singapore cannot afford to rest on its laurels. Its role as a local business hub depends on its global perspective, and unless it can resolve the tension between the local labour market and its need for outside labour, that role will be under threat. Join the discussion and network with other HR professionals in our HR Insights with Hays group. Join the conversation View the  Hays Journal online, via the Hays Journal iPad app or request a printed copy from  haysjournal@hays.com Growing pains For all kinds of businesses, success can bring new challenges, particularly when organisations need to expand their workforce rapidly. While undeniably positive, growth spurts can catch a leadership team by surprise. UK insurer LV= was created as a small mutual society in 1843, and grew relatively slowly until 2007. Since then, it has embarked on a hiring surge, taking its workforce from 1,200 to 6,000 as it seeks an increasing share of the UK insurance market. In 2013 alone, LV= received 26,000 applications and hired 1,593 people. However, LV=’s recruitment team doesn’t want to compromise on quality when recruiting large numbers of staff. “After trawling for employees in a certain area, you need to let the skills build up again,” says Paul Smith, LV=’s HR Director. “We might turn the tap on in Huddersfield, but then turn it off after the first recruitment drive, and [recruit instead] in Bristol.” In order to avoid exhausting the skill bases surrounding its offices around the UK, the team has created a pioneering recruitment mapping approach. By overlaying staff and applicant data on to a digital map, the recruitment team has been able to identify which grades of staff were likely to accept different length commutes, where recruitment advertising was generating the most hires and where a community of LV= colleagues was particularly large. The mapping also showed the team which regions and commuter communities had not yet been tapped for talent, even where there was already an LV= call centre nearby. At SuperGroup, the UK-based international retailer that owns the trendy Superdry clothing label, the recruitment team has decided on a different, localised strategy common in retail, which devolves recruitment responsibilities to specially trained store managers. SuperGroup’s workforce has grown from 400 to 3,500 in the past five years, expanding beyond SME status into more than 100 stores in the UK and overseas and 17 separate national websites. Last year, the business received 100,000 job applications for 3,000 jobs. “If you are a young person and looking for a job in retail, you can’t get more sexy than us in terms of brands,” says Andrea Cartwright, Director of HR. Cartwright has what she describes as a “tiny” team of 20, including payroll staff. SuperGroup deals with its mountain of applications by passing them to managers of stores near to the applicant’s home address. This regionalised approach requires a development programme designed to teach managers a range of skills, including recruitment, but has allowed SuperGroup’s central HR department to avoid the operational mire of mass recruitment. As a result, the team has remained small and strategic despite the company’s rapid growth. View the full article from issue 7 of our bi-annual publication the Hays Journal, providing global insights into the world of work. You can view the article in the Hays Journal online, via the Hays Journal iPad app or request a printed copy from haysjournal@hays.com Engage with fellow HR professionals across the globe and stay up to date with the latest HR news, by joining our LinkedIn group. Join the conversation

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What You Need to Know About Writing the Perfect Resume for an Entry Level Management Position

<h1>What You Need to Know About Writing the Perfect Resume for an Entry Level Management Position </h1> <h2> Writing the Perfect Resume for an Entry Level Management Position - Dead or Alive? </h2> <p>You're discontent with your current manager or senior administration gathering and have selected to seek after circumstances somewhere else. A business' site can be very useful for finding work title data specific to the organization with which you wish to apply. Assuming there is any chance of this happening, likewise observe what kind of arrangement you'll have the option to give in the meeting too. In the event that NO experience at all, at that point you need to pay off the questioner bring your A-GAME! </p> <h2>Choosing Writing the Perfect Resume for an Entry Level Management Position </h2> <p>You are requesting a clinical situation in a private clinical consideration practice. Is no experience is an opportunity. Target articula tions get the individuals who have a lot of understanding. Regardless of whether you require passage level medical caretaker resume or you as of now have 10 many years of experience we realize that you will be satisfied with the outcome. </p> <h2>Whispered Writing the Perfect Resume for an Entry Level Management Position Secrets </h2> <p>If justified, two sentences or in certain situations a short passage will upgrade a goal explanation. Endeavor not to utilize phrases like liable for or obligations included. In case you're reacting to an ad which you have seen, use the phrasing in the promotion, in any case, do only a bit of burrowing. Since you may see, people will make inductions about your abilities dependent on utilizing only two or three individual words.</p> <p>A continue rundown records experience when you have a lot of it. You have a broad assortment of distributions. Your rundown is certainly not a chronicled outline of your vocation. Wh ile you compose your outline for your resume, endeavor to consider what you need them to examine with you, and what precisely you want a chance to talk about. </p> <h2> Things You Won't Like About Writing the Perfect Resume for an Entry Level Management Position and Things You Will </h2> <p>The instruction part of your entrance level resume can deliver the employing chief state the words above. Numerous understudies and organizations understand the temporary position will most likely bring about an all day work prospect. </p> <p>While a resume is customized for a specific position that is applied for, it's short and compact. You're migrating to some other locale and need to find another position. Because it's a section level position, it doesn't show that you won't need to present a resume. For a fortunate few, you probably won't have even needed to meet in any regard, arrival positions and advancements by your system alone. </p> <h2> Key Pieces of Writing the Perfect Resume for an Entry Level Management Position </h2> <p>In the occasion the appropriate response is no, you should reexamine the program. Section level publicizing faculty work with top positioned showcasing experts and project supervisors to achieve the advertising points of the association in where they work. </p> <p>Asking your understudy to sort out a group trip is an incredible method to allow them absolute proprietorship over an endeavor, while extending their system and encouraging a sentiment of network. Assuming no, you should think savvy and understand that you need to get ready superior to the rest. You will promptly stand out from the rest of the piece of the competitors and your chances of securing the position has altogether expanded. </p>

Tips For Buying Small Business Disability Insurance

Tips For Buying Small Business Disability Insurance Tips For Buying Small Business Disability Insurance What might befall your business on the off chance that you were deadened for one year? What about supporting an eye injury for a half year? To the ill-equipped entrepreneur, an ailment or mishap bringing about inability can be crushing to your life and business. Handicap protection will supplant your pay in case of a mishap or disease. Before you express it would never transpire, think about the hard realities. As indicated by the Disability Management Sourcebook, extreme handicaps have expanded 400 percent in the course of recent years from the age of 17 to 44. Before the age 65, one out of seven individuals will get crippled for a long time or more. The amount Disability Insurance Do You Need? In the event that you figure the legislature will deal with you, reconsider. Meeting all requirements for Social Security incapacity advantages or Workers Compensation will be testing and the size of the payout will more than likely outcome in a pay deficiency. Government managed savings alone can have long holding up periods.?? The significant choice your independent venture should make is how much handicap protection you require and can manage. Audit your benefits and liabilities to decide to what extent you can abandon pay. Survey your costs and make the important changes for an impaired way of life. In case of an inability, you may have enough monetary assets for the present moment yet its almost certain your business will require long haul incapacity protection. While deciding your handicap protection needs recall you cannot buy 100% salary inclusion. Insurance agencies wont cover your full salary since they need to give a motivator to you to return to work. Run of the mill inclusion is 50-60% of your gross salary. The majority of incapacity arrangements spread somewhere in the range of 40% to 80% of your pay contingent upon how much youre ready to pay. Consider the accompanying components when looking for inability protection for your private company: 11 Tips For Buying Small Business Disability Insurance Characterize Disability: Any entrepreneur who is thinking about buying incapacity protection would be savvy to look at every protection suppliers meaning of the term. A handicap approach can characterize inability as applied to your particular occupation or to any occupation. On the off chance that you have aptitudes transferable to another activity and you can't play out your particular work a few arrangements won't think of you as debilitated. Cautiously audit on the off chance that you are secured for any or all occupations just as the degree of inclusion. Include COLA: An average cost for basic items change (COLA) choice will enable your arrangement to remain current with rising expansion. Following an inability guarantee, your advantages will be balanced every year as indicated by the pre-set alteration set up in the rider.?? Check Associations: If youre an expert you should look to your industrys relationship for bunch plans. Numerous affiliations offer individuals different advantages including life and inability protection. Audit the expense and subtleties of these plans. Decide Disability Type: Not all inabilities will be secured under an approach. A software engineer will be worried about inabilities, for example, carpal passage condition. Which inabilities are secured under your arrangement? Ensured Insurability: This isn't an inability protection alternative to disregard. In the event that you need to include more protection later on without increasingly clinical qualifying, the ensured insurability alternative is best for you. Non-cancelable Policy: If you need fixed premiums and advantages consider a non-cancelable arrangement. This is the best alternative for securing your expenses and advantages yet it comes with a more significant expense tag. Work with what you can manage. Take a gander at Financial Ratings: Before you settle on a ultimate choice in choosing incapacity protection, survey the bearers. A.M. Best Company or Standard and Poors gives evaluations of the money related quality of protection associations. Your protection agent can furnish you with appraisals. Play the Waiting Game: Increasing the holding up period or end time of the inability payout can bring about lower incapacity protection costs. Take a gander at your budgetary assets and gauge to what extent you can last before accepting advantages. Remember the principal installment will for the most part be 30 days after your holding up period. Survey Existing Policies: Review your life and home loan protection arrangements to investigate the expense of including an inability rider the approach. A waiver of premium rider can help lessen your costs in case of an inability. Business Overhead Policy: A business overhead cost (BOE) plan can be an invited expansion to policyholders who need pay secured as well as overhead such as finance, advantages, lease, and utilities also. This alternative can help keep your business running while you recuperate from an inability. Discover an Agent or Broker: The business of protection is intricate and continually evolving. As an entrepreneur locate a decent protection dealer or specialist who will assist you with finding the best approach for your necessities and help steer your business through the labyrinth of inability protection alternatives. Purchasing handicap protection for your private company shouldnt be founded on premium cost alone. Finding the best arrangement for your business will require a glance at the alternatives basic for your conditions and spending plan.