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Jorbb gets Jobs for You! Bringing Employers and Job Seekers updates on Singapore Employment News. Productivity related Tech Toys & Web 2.0 Sites will also be covered. Singapore's 1st freelance / casual / part time / contract job blog. Visit http://www.jorbb.com to join today!

 

Saturday, August 16, 2008

Opportunities amidst economic uncertainty / Fair Employment Practices


Mr Hawazi Daipi, Senior Parliamentary Secretary (Manpower & Health) delivered this speech at JobsCentral Career & Learning Fair 2008 today.

The speech covered 2 main topics: Opportunities amidst economic uncertainty and Fair Employment Practices.

The economic outlook continues to be uncertain, with concerns over the impact of the US credit crisis, rising inflation, and weaker demand from our external markets. Some employers have become more selective and cautious in hiring. As a result, some jobseekers might find it more challenging to land their dream jobs. However, while the labour market outlook is not as rosy as before, our fundamentals remain strong.

We will continue to create many good jobs in sectors such as finance, aerospace, logistics, interactive digital media and tourism. Many employers are still actively looking to hire and invest in new talents.

Jobseekers who need more information on the opportunities in the wider economy can refer to the Career Compass and Labour Market Highlights. They provide a comprehensive overview of the developments in the current and future job market, including information on upcoming manpower demand and occupational requirements.

Years of education and training have equipped us with skills to fulfil our career aspirations. However, we must bear in mind that the final leap to secure our desired job is possible only because there is fair employment practices. We are fortunate that in Singapore, we do not have a serious problem with workplace discrimination. This is the result of our firm belief in meritocracy, which extends into fair employment practices.

While discrimination might be low, small pockets of our workforce could be facing challenges in employment search because of their age, gender, marital status, etc. Both workers and employers lose when there is workplace discrimination. While the worker is denied a fair opportunity, the employer limits his pool of possible talent and the chance of recruiting the best person for the job. More importantly, treating employees fairly and with respect creates a harmonious environment that better motivates and retains valued employees. This is critical for any business that seeks continuity and growth.

Article and Image Source MOM.
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Monday, August 11, 2008

Singapore growth decelerates sharply in Q2


HONG KONG (MarketWatch) -- Singapore said Monday its economy expanded at its slowest quarterly pace in five years and said it now expects exports to contract from year-earlier levels.

Gross domestic product expanded 2.1% in the second quarter from a year earlier, down from a 6.9% expansion in the first quarter, according to a statement by the Ministry of Trade and Industry.

The ministry lowered its export outlook, saying it now expects a contraction of 2% to 4% this year, compared with its previous forecast for an expansion of between 2% to 4%.
Singapore last week reduced its economic growth forecast for the year, saying it expects growth in the range of 4% to 5%, down from its earlier target of 4% to 6% growth.

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Trade Ministry warns Singapore in for rough ride ahead


Singapore's full year economic growth is likely to come in at the lower end of the revised four to five per cent range, according to the Ministry of Trade and Industry (MTI).

The Ministry warned on Monday that Singapore is in for a rough ride ahead, although it will stay above water.

The second half of the year is also likely to look like the first half, which saw weaknesses in pharmaceuticals and electronics weighing down on growth.

Electronics will remain soft due to weak semiconductor demand, while biomedical manufacturing will see strong competition from generic drugs and approval delays.

Strengths remain the construction and services sector.

The Ministry also noted that labour productivity has continued to dip, especially in sectors like hotels and restaurants.

MTI said it expects to see job losses in sectors like manufacturing by year end due to a dip in labour productivity, reminiscent of cycles before.

However, the Ministry said that it is unsure of the magnitude of the job losses.

Gross domestic product (GDP) grew by 2.1 per cent on year in the second quarter, down from 6.9 per cent in the first.

Growth for the first half was 4.5 per cent.


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Friday, August 8, 2008

Worried about keeping your job during hard times?


"Work your tail off," keep a high profile, and find a mentor, veteran job coaches say.

While it is uncertain times for the job market in the US, are cutting staff as financial pressures mount. And while the U.S. unemployment rate has held steady at 5.5% for the last two months, there are no guarantees that workers—especially those between ages 50 and 60—will be able to avoid further cutbacks.

Older workers have experience and knowledge they can leverage to keep their jobs. But with staffing budgets increasingly under scrutiny, it may pay to be proactive. The first and most important move workers should make: Look for new experiences with their current employer.

Some tips:

"Be Visible"

Employees can raise their profiles when they make the effort to join special committees or even help organize a companywide social engagement.

"Cultivate a Mentor"

Workers who are more engaged with the day-to-day operations at their companies have a distinct advantage over those clock-punchers who focus solely on the tasks in their job descriptions. But staying in a job is also about building relationships. While it's advisable to work well with your peers, it never hurts to develop a close relationship with a mentor, particularly with someone higher up who can help keep you out of harm's way when the axman cometh.

"The main element in your career plan has to change from doing what you have to do to impress your superiors to doing what you have to do to impress yourself," says Haberfeld.

Article Source BusinessWeek, Image Source Dreamstime.
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Thursday, August 7, 2008

Economic Growth May Remain Weak


Singapore's Finance Minister, Tharman Shanmugaratnam, cautioned on Thursday that the country's economic growth may remain weak for some time.

The minister was speaking at ST Aerospace's National Day observance ceremony.

Mr Tharman said that these are challenging times, with growth slowing down around the world, and Singapore should be prepared for weakness in its own economy for several quarters.

Economic planners around the world are closely watching the American economy, Mr Tharman continued to say.

"It is still moving down - the cycle," he said. "Some people say it will take as much as another year before the bottom is reached.

"We have to expect continued weakness in the global economy, which might extend into next year and we won't be able to avoid a slowdown if that happens."

"The situation now is different from what it was three months ago. The American economy is in a much more perilous state now and the risks facing the financial system, which is a global system and not just an American system, are still very substantial."

Mr Tharman also said he expects inflation to ease towards the end of the year, not just because of declining oil prices.

"Food prices have also somewhat levelled off. So our expectation is we should be within our latest inflation forecast of six to seven per cent - lower inflation at the end of the year compared to what we saw in the first half of the year.

"Singaporeans can expect to hear more about the state of the economy in the next few days. The Prime Minister is expected, in his televised National Day message, to give an update on growth forecasts for the year."

Meanwhile, Mr Tharman said he is confident that Singapore still remains a strong and fit economy, with investments still coming into the country.



Image / Article Source CNA.
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Talent Crunch In Asia To Deepen In Next 3-5 Years


Asia's workforce is becoming more individual-focused, with employees changing jobs more frequently and constantly searching for better opportunities, a study has found.

This shifting set of cultural norms and changing value of employees is expected to lead to "a significiant turnover rate" in critical talent roles, especially at the managerial and entry levels in the next three to five years, said the study commissioned by the Ministry of Manpower.

The study, carried out by Hewitt Associates, also showed that organisations have replaced seniority-based employment, with an emphasis on results and performance and identified three critical talent challenges that organisations in the region need to overcome.

The study found that the relatively small talent pool in Asia has resulted in a leadership crisis in many organisations, which may impede its future growth.

The greater emphasis on performance and customer orientation also means that employers will have to provide their staff with greater independence, empowerment, flexibility and challenging work, if they want to attract, motivate and retain the best workers, said the study.

'We are now seeing a 'supercharging' of these issues - shortage of talent and lack of experienced leaders - in environments where companies are trying to grow 10 to 50 per cent," said Mr Andrew Bell, Hewitt Associates, Global Leader for Talent and Organisation Consulting.

"The rapid flow of capital from West to East, where more than a billion dollars a week, for instance, flows in to China to establish new businesses, continues to sustain these challenges.'

Commenting on the Hewitt study findings, Mr Leo Yip, Permanent Secretary, Ministry of Manpower, said: 'Companies operating in Asia, the largest emerging market in the world, will face people challenges that are unique to the region.

"Adopting effective people strategies to address these challenges will be critical to leveraging the full potential of the region's workforce, and to sustained corporate competitiveness."

Underscoring the importance of effective people strategies for the growth and success of a company, Mr Ong Ye Kung, Chief Executive, of Singapore Workforce Development Agency, said: 'Many companies have realised that HR work no longer comprise traditional functions like payroll processing and staff welfare. It is much more than that - including talent development, organisational excellence, and moulding the culture of the organisation.

"This also means that HR work is no longer the job of just HR executives, but the job of everyone in the company, especially the bosses.'

The findings of the study will be presented and discussed at the upcoming inaugural Singapore Human Capital Summit (SHCS) on 'People Strategies for Asia', to be held From 22 to 24 Oct.

The summit will bring together global and regional industry and thought leaders, as well as government leaders from the region, to share and deliberate on leading ideas and practices in human capital management, and their application to businesses and organisations operating in Asia.


Source The Straits Times.
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S'pore companies to use single identification number from Jan 1


Come January 1 next year, businesses in Singapore will have a Unique Entity Number (UEN) to identify themselves when dealing with all government agencies.

This single identification number will be issued by the Accounting and Corporate Regulatory Authority (ACRA) to all entities registered in Singapore in a move that is aimed at streamlining processes.

Under the new system, a UEN will be issued by ACRA to all entities that have multiple interactions with government agencies by October this year.

About 330,000 or 85 per cent of companies and businesses here will use their current ACRA company registration number as their UEN, while 55,000 entities or 15 per cent of all companies in Singapore will be issued a new number.

These entities include Limited Liability Partnerships (LLPs), foreign companies, societies and management corporations.

Businesses have welcomed the move saying that this would simplify and reduce possible errors caused by the use of multiple numbers. Other government agencies have also echoed the same view.


Source CNA.
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Tuesday, August 5, 2008

Outlook for 2009 murky but Singapore can be more than an investment destination


2009 Outlook: Mr Beh Swan Gin, the Economic Development Board's (EDB) new managing director advised that Singapore is still on track for record manufacturing investments this year, the outlook for 2009 is 'murky' - no thanks to the fallout from the global credit crisis.

'There is no question that large investments being decided this year and 2009 will take into account the changing economic conditions,' said Dr Beh, who assumes the hot seat at EDB effective today. 'I think we need to see how the situation unfolds over the next few months.'

While he said that it's too early for EDB to give a guidance for 2009 - something usually done around January - Dr Beh nevertheless conceded in an interview with local media that 'I must say that this year, the picture is murkier than usual because of the US situation'.

EDB is 'reinforcing' or shoring up Singapore's economic pillars, Dr Beh said, by infusing knowledge-intensive aspects or activities within the various sectors like biomedical, semiconductors, or chemicals.

He also stressed there was a critical need for talent, both local and foreign. 'In the past, capital was critical for success, and attracting investments was key to that. Now, with knowledge and innovation, talent is critical - and that is an important challenge for Singapore.'

EDB says Singapore can be more than an investment destination: Singapore will focus not just on being a good investment destination, but also a good business partner, said the incoming managing director of the Economic Development Board (EDB).

Dr Beh said the relatively new industry of water solutions is one example of what the EDB will focus on.

The sector falls under urban solutions, which, together with personal wellness and healthcare, and lifestyle products and services, are the three areas the board will emphasise on.

For example, for personal wellness and healthcare, it could look at how to make the systems more effective.

Dr Beh, incoming managing director, EDB, said: "It's important for Singapore but equally important is what companies in the region and all over the world will be looking for. So we can develop this solution through things like process re-engineering - maybe through better use of tech or IT."

Source BusinessTimes and CNA. Image Source BusinessTimes.
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Monday, August 4, 2008

1 in 3 workers unsure about career future


AsiaOne reports that valued workers feel they have stake in company.

It is a sad fact that one in three Singapore workers is uncertain about his career (my paper, July 31).

Many have not received vocational guidance after completing their studies, and they just grab any job opportunity which comes their way.

Some are now unhappy and discontented with their work, after they realise that their qualifications are not relevant to their jobs.

Career uncertainty can adversely affect a worker's job performance, and it is imperative for managers to help employees chart their career paths.

It would be beneficial for a company to deploy its employees to different sections so that they will learn new skills, apart from gaining a better insight into the organisation?s operations.

Training and retraining as well as job-redesign can enhance an employee's loyalty to the company and his job satisfaction, thus minimising staff turnover.

I agree that one essential aspect of good management is understanding the aspirations and strengths of employees. They need guidance as to how they can contribute more to the organisation and what the future holds for them.

A worker who knows that his boss values his contribution will be an asset to the company, because such a worker believes that he has a stake in the business.

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Pushing up wages to offset inflation risky move, warns NTUC chief


Pushing wages up to fully offset inflation is a risky move, as workers will end up paying ever-higher prices.

Labour chief Lim Swee Say highlighted this vicious circle on Thursday in a message for National Day, calling on workers to moderate wage expectations.

'Instead of pushing wages up to fully offset inflation, we must continue to link built-in wage increase to productivity gain and help our people through various non-wage measures', he said.

This will prevent a 'price-wage spiral'.

His message came as the second-quarter jobs figures released by the Mnistry of Manpower on Thursday showed job creation moderated to 70,600 from April to June and the unemployment rate creeping up to 2.3 per cent.

Full Speech here.

Source StraitsTimes.
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Saturday, August 2, 2008

Job market turns less rosy


Singaporeans seeking jobs in the months ahead face the prospect of a slowing labour market.

The reason: the shrinking pool of new jobs in two sectors, manufacturing and services.

It would have been worse if not for the golden performance of the construction sector, judging from new figures from the Manpower Ministry.

These show that employment in the sector increased by 22,100 jobs in the second quarter this year. This is double the 10,900 new construction jobs added in the same quarter last year.

However, the overall job market is less buoyant.

'Outside of construction, employment growth has moderated from the previous quarter,' said the ministry yesterday when it released the second quarter's job data.

New jobs rose by 70,600, which it notes is 'slightly lower' than the 73,200 in the first three months of this year.

Analysts see this shift as signalling a possible slowdown in jobs, with employers now more cautious about hiring.

'We feel a bit more caution in the air,' said regional economist Song Seng Wun of CIMB-GK Research.

More at AsiaOne.

Image source AsiaOne.
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Thursday, July 31, 2008

Working to get more women into the workforce


Called Step Out For Change, the programme was officially launched yesterday by Acting Manpower Minister Gan Kim Yong at a job fair in Jurong East.

It features a series of workshops that teach women a range of skills, from writing a resume to dressing for an interview.

The programme, designed by the Workforce Development Agency, is free and open to women older than 25, without tertiary education and who have been unable to get a job for at least six months.

It targets one of the key problems Singapore faces in coaxing older people to return to work. Latest figures show that not enough older women are doing so. Among the barriers cited as keeping them from working are the need to take care of children and a lack of flexible or part-time work arrangements.

A recent Manpower Ministry report found that two-thirds of non-working women aged 50 to 64 had never worked or had stopped working for at least 10 years.

Their situation was acknowledged by Mr Gan when he spoke to reporters after touring the job fair. He noted that besides being unfamiliar with the work environment, these women 'have inhibitions about going back to work'.

But he is optimistic that the Government's various efforts will bring more women back to work.

Employers like Apex-Pal, which is behind the Sakae Sushi chain, have geared up for the greying population. The company has older-worker friendly policies like an extra day of paid leave a year for grandparents.

Said its vice-president of group human resources, Ms May Foo: 'We find that with mature workers, our turnover is low. They are committed to staying long.'


Article Source AsiaOne. Image Source LDS.org.
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Singapore Jobless Rate at 1 year high


Singapore’s jobless rate rose to a one-year high as firms slowed hiring amid choppy financial markets and a weakening global economy, and analysts warned that unemployment may climb in coming months.

The jobless rate rose to 2.3 percent in the April-June period after seasonal adjustments, compared to 2 percent in the previous quarter, the Ministry of Manpower said in preliminary data on Thursday.

Employment rose by 70,600 in the second quarter, slowing from a rise of 73,200 in the January-March period.

Economists said the rising jobless rate was evidence that the economic slowdown had extended beyond economic data and was spreading into the real economy, although Singapore’s labour market is still expected to remain tight this year.

“The labour market is going to soften as growth…slows,” said Irvin Seah, an economist at DBS. “We don’t expect a sharp rise in retrenchments but things are going to move along at a slower pace.”

Economists said the tight labour market — the unemployment rate was at a 10-year low in the fourth quarter — may fuel price pressures in Singapore where inflation is at a 26-year high.

“The labour market is still tight but it is moving towards a more sustainable pace that will soften the margin squeeze on companies,” Seah said.

The booming construction industry created a record 22,100 jobs in the second quarter, compared to 14,500 in the first three months of the year, as building deals carried over from last year’s red-hot property market — which has since cooled — continued to fuel activity.

Services, which includes the key financial sector, added 37,600 jobs in the April-June period, slowing from the first quarter when 46,500 jobs were created.

Employment in manufacturing rose by 10,200, down from an increase of 11,800 in the first quarter.

Retrenchments in Singapore fell to 1,900 in the second quarter from 2,274 in the previous quarter.

Heng Swee Keat, Singapore’s central bank chief, said this month unemployment rate is seen at 2 percent for 2008.

Economies across Asia are expected to slow this year as growth in the key U.S. and Europe export markets weaken, while demand in emerging markets are not as strong as hoped.

Singapore’s trade-driven economy, a barometer for global demand for Asian exports, shrank an annualised and seasonally adjusted 6.6 percent in the second quarter, its biggest contraction in five years.

Source: http://www.afxnews.com, Image Source ACC-TV.
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Wednesday, July 30, 2008

UK branch of global firm to offshore jobs to Singapore


Barclays, a major global financial services provider engaged in retail and commercial banking, credit cards, investment banking, wealth management and investment management services, is cutting 1800 UK IT jobs, many of which will be relocated to S'pore. The plan is to reorganize their infrastructure and service delivery by setting up hubs in Singapore, Hungary and Italy. 700 jobs will be reduced in the UK location this year, with the remaining 1100 being moved by 2010.

These new locations will be considered technology "centres of excellence". Barclays does not indicate specifically how many jobs will come to Singapore, but a Barclays' spokeswoman says this: "We need to transform to a global organisation, able to serve the needs of our customers and clients who have operations around the world."

You can read all about it here.

Image Source EnglandsNorthWest.com
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SMEs positive about economic growth


CNA reports that small businesses across Asia-Pacific are optimistic about the economic outlook for the next six months, according to the HSBC Asia-Pacific Small Business Confidence Survey.

44 per cent of the companies surveyed said they expect current economic growth to continue, while another 26 per cent expect to see a pick up, despite global economic uncertainty.

Businesses in India are the most optimistic, followed by those in mainland China.

The survey was conducted by market research firm TNS in the second quarter of this year, covering more than 3,000 small businesses across 10 economies including Singapore, Bangladesh, mainland China, Hong Kong, and Vietnam.


Image Source CNA.
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More eyes scrutinise candidates now in accounting, finance sectors


Hiring process drawn out as caution rules - In another sign of the slowdown in Singapore's job market, employers are slowing their recruitment process - at least for jobs in the accounting and finance sectors, the BusinessTimes reports.

Employers are now taking twice as long - eight weeks - compared to a year ago to sign up a new employee. The process is often prolonged because more senior decision makers in the company are involved, according to Ambition, a recruitment firm listed on the Australian Stock Exchange which has offices in Singapore, Hong Kong and London.

'Recruitment is all about market confidence,' said Guy Day, Ambition's managing director. 'There are numerous examples of where relatively junior positions have required video or telephone conference calls with very senior executives in corporate headquarters before an approval will be given.'

While this may be seen as overkill, Mr Day said it is certainly a sign of the times. Just last week US based executive search firm Hudson reported that more employers in Singapore are putting recruitment on hold even as managers continued to expect higher sign-on pay.

Only 43 per cent of those Hudson polled here planned to hire more in the current quarter - a three-year low - down from 54 per cent a year ago.

Within the commercial sector, the information technology continues to do well in Singapore, along with the petrochemical, healthcare and biomedical businesses.

Image Source Rollins.edu
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Tuesday, July 29, 2008

What matters to you at Work?


The Singapore Business Times has a great article on what it takes to be a firm that is admired by it's employees. It isn't just great salary! And one of the reasons that the World's Most Admired Companies pay approximately 5% less in salary than comparable firms is that they tend to promote from within. As important as the highest salaries is a company's "brand" (how it is perceived by customers and employees alike) and how well it grooms its employees for promotion.

Another way they compensate for what seems like lower pay is through larger annual bonuses. Additionally, these most admired companies are great about communicating what they offer and their business strategies actually produce results!

The Hay Group
, in partnership with Fortune Magazine, does the World's Most Admired Company poll of Fortune 1000 and Global 500 companies. They are judged on the following criteria:

1. Ability to attract and retain talented people
2. Quality of management
3. Social responsibility to the community and the environment
4. Innovativeness
5. Quality of products or services
6. Wise use of corporate assets
7. Financial soundness
8. Long-term investment value
9. Effectiveness in doing business globally

The five most admired companies in the world are:
1. Apple
2. Berkshire Hathaway
3. General Electric
4. Google
5. Toyota

Fortune has the rest of the list here.

Image Source The Sydney Morning Herald
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Older people in Singapore's workforce - Record High


MOM reported that boosted by the sustained economic growth and strong job creation in recent years, a record high proportion of the older resident population was employed in Jun 07, mainly reflecting the entry of many older people into the workforce.

Nevertheless, there is still a sizeable pool of older residents outside the labour force, particularly among women.

The majority of the older economically inactive women have limited or no labour market experience, suggesting that efforts to help them enter the workforce could be complemented by suitable skills upgrading and work preparation programmes, in addition to facilitating part-time and flexible work options.

In Jun 07, 47.8% of the resident population aged 50 & over were employed, surpassing the previous record1 of 46.0% a year ago.

There were 469,400 employed residents aged 50 & over in Jun 07, constituting 26% of the resident workforce. Land transport & supporting services (52%), administrative & support services (incl. cleaning and security services) (42%) and restaurants (41%) had the highest incidence of older workers, with more than four in ten of their resident workers aged 50 & over. At the other end, the incidence of older workers was lowest in IT & other information services (5.8%), electronic products manufacturing and financial institutions (both 12%).

The majority of older workers were in salaried (73%) and full-time employment (90%). However, older workers were more likely to be self-employed (27%) and work part-time (10%) than those younger (11% and 4.8% respectively).

The vast majority of older job seekers sought employment mainly because of financial considerations. Two in three (66%) job seekers aged 50 & over in Jun 06 wanted to work mainly because they needed money for current expenses. Another 12% sought work for future financial security. Only a minority cited non-monetary factors such as needing to occupy time (6.3%), wanting to lead an active life/have social contact at work (6.1%), or having a sense of purpose/being useful (3.9%) as their main reason for seeking work.

Image Source Careerhub.
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Monday, July 28, 2008

Still expecting high pay despite economic slowdown


'They are thinking, nothing is getting cheaper, why should I accept less pay?' - HUDSON COUNTRY MANAGER GINA MCLELLAN, on how the rising cost of living here has left many professionals refusing to accept lower salaries.

The Straits Times reported that Managers and professionals, shrugging off signs of a job slowdown, are not budging on the starting pay they want, according to manpower surveys.

Only one in 10 of the employers that human resource consultancy Hudson polled said it could convince a new manager to accept a lower salary.

Similarly, a survey of almost 900 professionals by recruitment firm Robert Walters found 95 per cent want a pay rise of at least 10 per cent, and 23 per cent are eyeing a hike of 30 per cent or more.

Image source MIT.Edu.
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Sunday, July 27, 2008

Will Singapore employer's embrace Swedish-like child care leave?


There have been hints in the government that S'pore may expand its national child leave policy to mirror that in European nations like Sweden. While S'pore currently offers mothers 3 months of paid maternity leave...and fathers three days, Sweden offers 13 months for both parents. Not surprisingly Singaporeans of child-rearing age who were asked like the idea, but employers are balking.

The Electric New Paper
says that some workers expressed concern that if they policy was changed that generously, they would be discriminated against if they or their spouse became pregnant. S'pore does not allow dismissal of women during their pregnancy or their leaves.

Employers are understandably concerned that the 400% increase in time off (from 3-13 months for 2 parents) would hurt them in both productivity and financially. They would have to continue to pay salary AND find someone to replace the lost worker. Swedes, and other Europeans with extremely long maternity pay have much higher taxes than Singapore to help cover costs.

Image Source CT government
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Saturday, July 26, 2008

IDM still buzzing - $70 Million more