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
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
Globalization of Japanese Companies
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Over 800 companies in Singapore
Ministry of Economy, Trade and Industry
Globalization of Japanese Companies
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Most respectable Japanese company
Data Property: Michiaki Lee N=74 (NUS Students Survey)
Globalization of Japanese Companies
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Strengths of Japanese companies
Data Property: Michiaki Lee N=72 (NUS Students Survey)
Globalization of Japanese Companies
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Weaknesses of Japanese companies
Data Property: Michiaki Lee N=75 (NUS Students Survey)
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
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
“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
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
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
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
Job Hunting Criteria (Singapore)
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Data Property: Michiaki Lee N=66 (NUS Students Survey)
Job Hunting Criteria (Japan)
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DISCO (Multiple)
Strategic Employer Branding
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How to position your company strategically?
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 !)
