EGN SME Meeting 25.8.09 Profile of Tiro Consulting Key Challenges Faced Employment Outlook
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Transcript of EGN SME Meeting 25.8.09 Profile of Tiro Consulting Key Challenges Faced Employment Outlook
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Perlita Tiro, Managing Director Tiro Consulting Services Pte Ltd
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Company Profile
20 Years in Creating Futures
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Our Firm
★ Leading international executive search organization.
★ Combined partner-driven services with global search capabilities.
★ Now in its 21st year of operations, has long tradition in local, regional & international executive search.
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Types of Services
Started in 1989 specializing in HR consultancy mainly in:
Executive Search
Advertising – based Recruitment
Human Resource Development
Career Transition Programmes
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What we offer
★ Web based databank
★ Off-limits policy: extensive search
★ Six months’ guarantee
★ Extensive experience of consultants
★ Local and international experience
★ Discreet and professional
★ Wide industry experience
★ Psychometric testing
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Our Team
★ Perlita Tiro, Managing Director
★ Choo Boon Tiong, Deputy Managing Director
★ Agnes Mah, Managing Consultant
★ Katherine Chong, Senior Consultant
★ Ricky Baroña, Consultant
★ Carolyn Mendoza, Assistant Consultant
★ Sharon Wong, Consulting Assistant
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Perlita Tiro
★ Pioneer in executive search & recruitment consultancy in Singapore
★ 38 years’ experience in search and selection in Asia Pacific region
★ 9 years with PA Consulting, CEO for 4+ years
★ Earlier with SGV Group in Singapore (now Deloitte & Touche) & Manila (now E & Y)
★ BBA, MBA, CPA
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Sample Assignments
SENIOR POSITIONS
Managing Director US Fortune 500 Software Co
General Manager German Manufacturing Co
Group General Manager Diversified Conglomerate
Vice Pres, Fin and Admin Diversified Conglomerate
Dir of Sales and Marketing Global Electronic Manufacturer
General Manager European FMCG
General Manager US Travel Management Co
General Manager Australian Equipment Rental Co
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Sample Assignments
SENIOR POSITIONS (cont’d)
General Manager, Shanghai Dutch Manufacturing Co
Senior Vice Pres, HR Global Electronic Mfg
Psychologist A National Airline
Vice Pres, HR A National Airline
Director of Finance GLC
Director, Finance GLC, Waste Mgmt
Senior Vice Pres, Marketing GLC, Industrial Parks
Deputy CEO GLC, Trade Board
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Sample Assignments
MANUFACTURING COMPANIES
Snr Sales Engineers Leader in motion control technologyFinancial Controller US Contract Mfr of PCBAs and Box-built ProductsDir of Sales & Mktg US MNC Mfr of Specialty Electrical
& Electronics ProductsReg Supply Base Mgr US Computer Manufacturing Product Manager Leader in Electrical Cabling
SolutionsAccountant Australian Light Mfg FirmSales Devt Mgr US Microelectronics CompanyQuality Control Mgr German Wafer Packaging Mfr
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Banks and Financial Institutions
Director, Transaction Banking British Commercial Bank
Director, Business Development ASEAN Merchant Bank
Head, EDP Department Local Insurance Group
General Manager Insurance Company
Senior Investment Position Government, Gulf Region
Private Banking Managers US Investment Bank
Dutch Offshore Bank
Private Banking Relationship Mgr Canadian Bank
HR Manager Major Fund Mgmt Co
Investment Analyst Japanese Merchant Bank
Fund Manager German Merchant Bank
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Sample Assignments
HOSPITALITYGeneral Manager US Travel Management Co.
Marketing Director Live Entertainment Company
General Manager, Taiwan Exclusive Resorts Group
Corporate & Marcom Manager Arts Entertainment Company
Business Development Director Entertainment & Leisure Co.
Legal Counsel Exclusive Resorts GroupHead of HR, Shanghai Luxurious F&B and Retail
Establishment
General Manager Major Orchard Retail Mall
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Sample Assignments
IT / TELCO SECTOR
Managing Director US Fortune 500 Software Co
General Manager Computer Software Co
Regional Sales Engineer French Data Communication Co
Regional Director US Fortune 500 IT Co
Regional Sales Director Wireless Communications
Group IT Manager Asian Conglomerate
IT Administrator Japanese MNC
Web Developer European IT Think Tank
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Sample Assignments
ELECTRONICS
Vice President - Ops Wafer Fabrication
Deputy GM , Philippines Audio Equipment
CIM Manager Semiconductor Packaging Design
QA Engineer Test And Assembly Services
Com & Ben Manager Listed MNC in Singapore
Marketing Manager, US Microprocessors ManufacturerAsia Pac
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Sample Assignments
FINANCE-RELATED POSITIONS
Deputy GM, Finance (China) Asian Conglomerate (Tire Mfg)
Group Controller, (Shanghai) German MNC (Belt Mfg) Finance
Director UK MNC (Intelligent Building)
Chief Financial Officer (Suzhou) Asian Conglomerate (Pulp & Paper)
Group Chief Financial Officer Local Hospitality Group
Chief Financial Officer, China SGX Listed Property Company
General Manager , Finance SGX Listed Company (Diversified)
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Our Search Procedures are Comprehensive
and In-depth
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Executive Search
1. Obtain information on:
★ Company
★ Job Responsibilities
★ Requirements of person
★ Key results areas
2. Draft specifications
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Executive Search
3. Conduct
★ Research on companies & candidates
★ Checks through industry contacts
★ Preliminary assessment of candidates
5. Prepare & present shortlist reports
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Executive Search
6. Assist in
★ arranging meetings between client and candidates
★ negotiation of terms with appointee
7. Conduct formal reference checks
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Searches
are
Well-defined
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Assignment Specification
The Company
The Position
Reporting Relationship
The Man or Woman
The Reward
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Advertising for
Cost-EffectiveRecruitment
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Advertising-based Recruitment
1. Obtain information on :
★ Company
★ Job description
★ Requirements of person
★ Key results areas
2. Draft advertisement
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Advertising-based Recruitment
3. Conduct interviews & evaluate good prospects, supplemented with psychometric testing
4. Prepare and present shortlist reports
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Advertising-based Recruitment
5. Assist in
★ Arranging meetings between client and candidates
★ Negotiation of terms with appointee
★ Conducting formal reference checks
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Database Search for
Generic Positions
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Database Search
★ Maybe considered for generic positions
★ Would supplement full search assignments
★ Could apply if positions need not be filled immediately
★ Involves :
• client review of blind CVs before assessment • brief evaluation and reporting• shorter guarantee period
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Our Shortlist Reports
are Comprehensive
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Personal Details Education Special Courses Languages Computer Literacy Career History
Detailed Shortlist Report
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Personal Qualities Initial Impressions Communication Personality & Work Style Mental Abilities Executive Qualities Availability Summary and Recommendation
Detailed Shortlist Report
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Our assessment
is supplemented by a
Psychometric Exercise
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TIPP Profile Sheet
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TIPP Profile Sheet
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Current Key Challenges
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Current Key Challenges
★ Handful opportunities available in the market due to recession
★ Plenty of supply of candidates who either go straight to companies, or found directly by hiring companies
★ Pricing, pricing, pricing
• Tendency for low or no upfront fee
• Non-exclusivity
• 3-6 months’ guarantee, along with low fee
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Current Key Challenges
★ Faster turn-around delivery required
★ Emergence of new sources of candidates:
• Face book
• Monster, Jobsdb, Jobstreet
• Linked-in, Zing, Plaxo
[But also new sources of candidates for us.]
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Steps Taken
★ Pursue companies/industries hiring
★ Faster turn-around on both pursuing “green-shoots” and delivery of candidates
★ Competitive pricing and terms – to a limit (Depends on how eager we are to work for the company; still avoid “C” companies)
★ Extensive upgrading of database systems• Web-accessible by candidates• Web-accessible by clients – to come soon
★ Timely delivery of quality candidates
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Employment Outlook
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Current Situation
CHANGE EMPLOYMENT
LEVEL 6.09 1Q 09 2Q 09
TOTAL -6.2 -12.4 2,933.8
MANUFACTURING -22.1 -17.6 546.6
CONSTRUCTION 8.3 3.4 371.7
SERVICES 7.5 2.1 1,995.6
Employment (In ‘000s)
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1Q 09 2Q 09
REDUNDANCY 12,760 5,500
Retrenchment 10,900 4,800
Early Release of Contract Workers
1,860 700
Redundancy
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2Q 08 1Q 09 2Q 09
TOTAL 1,880 12,760 5,500
MANUFACTURING 1,250 9,250 2,600
CONSTRUCTION 20 330 500
SERVICES 620 3,170 2,400
Redundancy by Sector
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6.08 9.08 12.08 3.09 6.09
SEASONALLY ADJ
OVERALL (%) 2.2 2.3 2.5 3.3 3.3
RESIDENT (%) 3.1 3.4 3.6 4.8 4.6
NON-SEASONALLY ADJ
OVERALL (%) 2.8 1.9 2.4 3.0 4.2
RESIDENT (%) 4.0 2.8 3.5 4.4 6.0
Unemployment Rate
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Points to note:
★ Employers generally not renewing work permits of FW
★ FW not counted among unemployed
★ Out-of-work residents attending training not counted as unemployed
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Economic Outlook
GLOBAL OUTLOOK ★ World economies recovering - US,
Germany & France • FED Bernanke • Ex IMF C Economist Kenneth Rogoff • SG London C Economist
★ Recovery will be slow, unemployment declining from high levels
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Economic Outlook
Singapore Outlook
★ Spore’s GDP dropped 10% Dec 08 – Feb 09; now drop slows down to 6.5%
★ Recovery of US Market no longer only basis for regional growth
★ Growing protectionism in the US and Europe, reducing investments in Asia
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Economic Outlook
★ Asia Pacific (especially China & India) now epicentre of economic growth to play a critical role in global recovery
★ Singapore has to be cheaper, faster, and “better” to boost productivity and maintain its competitive edge
★ SMEs becoming more resilient as an impetus for economic growth
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Government Initiatives
★ Jobs Credit Scheme
★ SPUR programme
Have they worked??
For how long?
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Employment Outlook – Mixed ★ Gradual bottoming out in labour market before it
improves towards yearend
★ Picture of job market is “much brighter” than projected
★ Too early to celebrate; worst not yet over★ Economy could plunge again, due to employers
holding retrenchments ★ Jobless rate to peak at 4 % at yearend★ Companies can no longer hold on to workers due
to:• Weak global demand for goods • Move out of Singapore to cheaper location
(eg Seagate).
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Employment Outlook
Conclusion ★ Economy will remain sluggish till
yearend except for:• IR-related activities (Junior roles)• Health care• Precision engineering• Biomedical Sciences
★ Recovery will be slow
★ SMEs will emerge resilient
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Your •Experience•Input•Views
Your •Experience•Input•Views
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Thank YouThank You