how should companies attract good talents in singapore?
TRANSCRIPT
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How Should Companies Attract Good Talents in Singapore ?
09 October 2014
CICOM BRAINS (Asia) Pte. Ltd.
Michiaki Lee
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Agenda
Introduction
Globalization of Japanese Companies
Why Singapore?
10 Issues of Japanese Companies in Asia
Organizational Traits
“Double Ceiling” & “Comfort Zone”
How They See Japanese Companies
Where are “High Potential Talents”?
How They Have Been Educated
Job Hunting Criteria
Strategic Employer Branding
Summary and Take Away Points
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Introduction
Born and educated in Japan
Worked for US and Japanese companies
Moved to Singapore in 2011
Corporate Education / Leadership Development
Strategy & HR Consulting
Teach at NUS as a Guest Lecturer
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Globalization of Japanese Companies
Overseas revenue share is increasing
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Japan Bank for International Cooperation N=625
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Globalization of Japanese Companies
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Over 800 companies in Singapore
Ministry of Economy, Trade and Industry
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Globalization of Japanese Companies
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Most respectable Japanese company
Data Property: Michiaki Lee N=74 (NUS Students Survey)
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Globalization of Japanese Companies
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Strengths of Japanese companies
Data Property: Michiaki Lee N=72 (NUS Students Survey)
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Globalization of Japanese Companies
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Weaknesses of Japanese companies
Data Property: Michiaki Lee N=75 (NUS Students Survey)
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Why Singapore?
1. Language
2. Geographic advantage
3. Showcase of other Asian markets
4. Safety & transparency
5. Easiness to establish companies
6. Tax incentives
7. Highly educated talents
8. Value-added sectors and functions are welcomed
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10 Issues of Japanese Companies in Asia
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1. Wage increase (71%)
2. Competitors’ market shares are growing (53%)
3. Skills and mindsets of employees (53%)
4. Quality of employees (47%)
5. Quality control (45%)
6. Difficulty of procurement (43%)
7. Difficulty in hiring future leaders (42%)
8. Price competition (40%)
9. Increasing material costs (40%)
10. No more room for cost cutting(40%)
JETRO Survey of Japanese-Affiliated Companies in Asia and Oceania
4 out of 10 are HR related
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Organizational Traits
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Most Japanese companies in Singapore are “Partially Localized”
JP Expats
National Staffs
Japanization
Partial Localization
Japanese Management Driven
More Localization
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“Double Ceiling” & “Comfort Zone”
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We see this phenomenon in many Japanese companies – What does it mean?
Senior Mgr
Middle Mgr (Operational Manager)
Staffs
Comfort Zone
Quick Turnover in 1-3 years
Relocated in 3-5 years ①
②
③
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How They See Japanese Companies
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1. Competitiveness of products/services
2. Ethical
3. Lower compensation
4. Slow proportion
5. Rigid rules
6. Long work
7. Luck of individualism
8. Micromanagement
9. Little chance of developing “Portable” skills
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Where are “High Potential Talents”?
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Singapore's 100 Leading Graduate Employers Company Industry
1 PwC Accounting & Financial Management, Consulting
2 EY (Ernst & Young) Accounting & Financial Management, Consulting
3 DBS Bank Banking
4 Agency For Science, Technology And Research (A*STAR)
Public Sector
5 Allen & Gledhill LLP Legal
6 Ministry Of Health (MOH) Public Sector
7 Barclays Banking
8 Drew & Napier Legal
9 KPMG Accounting & Financial Management, Consulting
10 Rajah & Tann Legal
singapores100.com
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How They Have Been Educated
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1. Competition / Meritocracy
2. Diversity
3. Strong and quick direction
4. Individualism
5. Result-oriented / Clear KPIs
6. Specialist vs. Generalist
7. Upgrading
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Job Hunting Criteria (Singapore)
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Data Property: Michiaki Lee N=66 (NUS Students Survey)
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Job Hunting Criteria (Japan)
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DISCO (Multiple)
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Strategic Employer Branding
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How to position your company strategically?
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Summary and Take Away Points
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1. Confirm HR policy based on the corporate strategy (What kind of talents you need?)
2. Employer branding
3. Prepare multiple career options (HQ, Region, Local)
4. Job Scope/KPI/Feedback
5. Skill upgrading opportunities
6. Differentiation (Evaluation, Compensation)
7. Invest to high potential talents in 3 years and cultivate (No “chicken‐and‐egg” argument !)