- Joined
- Jul 24, 2008
- Messages
- 33,627
- Points
- 0
<TABLE border=0 cellSpacing=0 cellPadding=0 width=452><TBODY><TR><TD vAlign=top width=452 colSpan=2>Published October 1, 2009
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>SINGAPORE HUMAN CAPITAL SUMMIT
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>Talent hub another strong selling point for S'pore
Being a talent hub - not just low-cost site - will keep drawing investors
By CHUANG PECK MING
<TABLE class=storyLinks border=0 cellSpacing=4 cellPadding=1 width=136 align=right><TBODY><TR class=font10><TD width=20 align=right>
</TD><TD>Email this article</TD></TR><TR class=font10><TD width=20 align=right>
</TD><TD>Print article </TD></TR><TR class=font10><TD width=20 align=right>
</TD><TD>Feedback</TD></TR></TBODY></TABLE>
MAKING Singapore a home for talent is the next push to ensure Singapore stays attractive to foreign investors, according to Trade and Industry Minister Lim Hng Kiang.
Speaking yesterday at the final panel discussion of the two-day Singapore Human Capital Summit conference, he said that it is getting more difficult to bring in foreign investments. Multinational corporations and others are no longer drawn simply by a low-cost environment.
Singapore's move to become a talent hub is to keep in step with this change, Mr Lim said.
As a talent hub, he said, Singapore would not only offer a ready pool of talent for companies to tap, but also what is needed to develop the talent they require - yet another unique selling proposition (USP) for the Republic.
His comments came just a day after Prime Minister Lee Hsien Loong unveiled the Economic Development Board's (EDB) new initiative to anchor Singapore as the regional centre for developing talent and leadership training.
Called the Singapore Leadership Initiative for building Networks and Knowledge (Singapore LINK), the move will see a cluster of business schools, research houses and corporations formed at One-North in Buona Vista.
<SCRIPT language=javascript> <!-- // Check for Mac. var strAgent; var blnMac; strAgent = navigator.userAgent; strAgent.indexOf('Mac') > 0 ? blnMac = true:blnMac = false; if (blnMac == true) { document.write('
'); } //--> </SCRIPT><TABLE border=0 cellSpacing=0 cellPadding=4 width=300 align=right><TBODY><TR><TD vAlign=top align=middle>
<!-- AdSpace --><IFRAME height=250 marginHeight=0 src="http://ads.asia1.com.sg/html.ng/site=tbto&sec=btointhenews&cat1=bnews&cat2=btointhenewsart&size=300X250" frameBorder=0 width=300 marginWidth=0 scrolling=no bordercolor="#000000"><script language='JavaScript1.1' src='http://ads.asia1.com.sg/js.ng/Params.richmedia=yes&site=tbto&sec=btointhenews&cat1=bnews&cat2=btointhenewsart&size=300X250'></script><noscript>
</noscript></IFRAME><!-- /AdSpace-->
</TD></TR></TBODY></TABLE>'This clustering will strengthen the links between research, management and training, encourage corporations and academia to work together on real-world challenges and facilitate the eventual adoption of new best practices,' Mr Lee said at the conference on Tuesday.
Mr Lim yesterday said that the government would pour more resources to build the infrastructure and provide the software and programme for the development of human capital.
Singapore has to work fast in this area to tap Asia's rapid economic growth, according to him.
At the corporate level, DBS Bank chairman Koh Boon Hwee stressed the need to groom talent within a company to keep up with growth.
He said companies should seek out young talent in the global market and nurture them as their future leaders. This would make it easier to imbue them with the company's culture and vision - factors critical for success that take a long time to get into any employee's system, and even tougher to sustain.
Mr Koh urged that more attention be given to hiring and retaining talent because, at the end of the day, this is the single biggest factor that makes a difference between the success and failure of a business.
Deborah Henretta, group president for Asia at Procter & Gamble, said that to attract and keep talent among the new generation - Generation Y - of employees, companies must have a purpose to inspire them; the flexibility to let them work anywhere and anytime; and be tech-tolerant to allow them to fiddle with their gadgets at work.
Robert Sutton, professor of management science and engineering at Stanford University, called on human resource practitioners to challenge old and conventional assumptions in their work.
These include the need for a great performance review system; identifying high performers and pay them whatever it takes to keep them; hiring and developing the very best people; and copying best practices of others.
The Human Capital Summit, which is in its second year, was organised by the Ministry of Manpower and the Workforce Development Agency.
</TD></TR></TBODY></TABLE>
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>SINGAPORE HUMAN CAPITAL SUMMIT
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>Talent hub another strong selling point for S'pore
Being a talent hub - not just low-cost site - will keep drawing investors
By CHUANG PECK MING
<TABLE class=storyLinks border=0 cellSpacing=4 cellPadding=1 width=136 align=right><TBODY><TR class=font10><TD width=20 align=right>
</TD><TD>Email this article</TD></TR><TR class=font10><TD width=20 align=right></TD><TD>Print article </TD></TR><TR class=font10><TD width=20 align=right></TD><TD>Feedback</TD></TR></TBODY></TABLE>MAKING Singapore a home for talent is the next push to ensure Singapore stays attractive to foreign investors, according to Trade and Industry Minister Lim Hng Kiang.
Speaking yesterday at the final panel discussion of the two-day Singapore Human Capital Summit conference, he said that it is getting more difficult to bring in foreign investments. Multinational corporations and others are no longer drawn simply by a low-cost environment.
Singapore's move to become a talent hub is to keep in step with this change, Mr Lim said.
As a talent hub, he said, Singapore would not only offer a ready pool of talent for companies to tap, but also what is needed to develop the talent they require - yet another unique selling proposition (USP) for the Republic.
His comments came just a day after Prime Minister Lee Hsien Loong unveiled the Economic Development Board's (EDB) new initiative to anchor Singapore as the regional centre for developing talent and leadership training.
Called the Singapore Leadership Initiative for building Networks and Knowledge (Singapore LINK), the move will see a cluster of business schools, research houses and corporations formed at One-North in Buona Vista.
<SCRIPT language=javascript> <!-- // Check for Mac. var strAgent; var blnMac; strAgent = navigator.userAgent; strAgent.indexOf('Mac') > 0 ? blnMac = true:blnMac = false; if (blnMac == true) { document.write('
'); } //--> </SCRIPT><TABLE border=0 cellSpacing=0 cellPadding=4 width=300 align=right><TBODY><TR><TD vAlign=top align=middle>
<!-- AdSpace --><IFRAME height=250 marginHeight=0 src="http://ads.asia1.com.sg/html.ng/site=tbto&sec=btointhenews&cat1=bnews&cat2=btointhenewsart&size=300X250" frameBorder=0 width=300 marginWidth=0 scrolling=no bordercolor="#000000"><script language='JavaScript1.1' src='http://ads.asia1.com.sg/js.ng/Params.richmedia=yes&site=tbto&sec=btointhenews&cat1=bnews&cat2=btointhenewsart&size=300X250'></script><noscript>
Mr Lim yesterday said that the government would pour more resources to build the infrastructure and provide the software and programme for the development of human capital.
Singapore has to work fast in this area to tap Asia's rapid economic growth, according to him.
At the corporate level, DBS Bank chairman Koh Boon Hwee stressed the need to groom talent within a company to keep up with growth.
He said companies should seek out young talent in the global market and nurture them as their future leaders. This would make it easier to imbue them with the company's culture and vision - factors critical for success that take a long time to get into any employee's system, and even tougher to sustain.
Mr Koh urged that more attention be given to hiring and retaining talent because, at the end of the day, this is the single biggest factor that makes a difference between the success and failure of a business.
Deborah Henretta, group president for Asia at Procter & Gamble, said that to attract and keep talent among the new generation - Generation Y - of employees, companies must have a purpose to inspire them; the flexibility to let them work anywhere and anytime; and be tech-tolerant to allow them to fiddle with their gadgets at work.
Robert Sutton, professor of management science and engineering at Stanford University, called on human resource practitioners to challenge old and conventional assumptions in their work.
These include the need for a great performance review system; identifying high performers and pay them whatever it takes to keep them; hiring and developing the very best people; and copying best practices of others.
The Human Capital Summit, which is in its second year, was organised by the Ministry of Manpower and the Workforce Development Agency.
</TD></TR></TBODY></TABLE>
