Wednesday, July 29, 2009

Tips - If I've learnt 3 things in recruitment

1. It actually is a numbers game (as annoying as my previous managers were in drumming that in to me!), and you do need to make hay while the sun is shining

2. Complacency is the root of failure!... Never take a candidates word for granted (or client for that matter)

3. You're only as good as your last quarter

Provided by Claire Whalley of ARM Ltd

StanChart to boost pool of relationship managers to 300

AS AFFLUENCE in Asia rises, Standard Chartered Bank is ramping up its wealth management business in Singapore.

In an expansion of its priority banking business here, the foreign bank yesterday said it planned to hire 300 relationship managers over the next three years, more than double its current number.

So far, it has hired 80, it said. Priority banking caters to individuals with $200,000 or more in net assets.

Other banks are also hiring more. HSBC says it is planning to take on about 100 staff in wealth management, while OCBC says it will continue hiring selectively.

Market watchers say this is a good time for banks that are relatively unaffected by the financial crisis to capture more market share.

Tuesday, July 14, 2009

Singapore's economy bounces back

There was a big sigh of relief for many Singaporeans as the economy expanded in the second quarter at its fastest rate in nearly 6 years.

Growth surpassed expectations, with a more than 20% rise from the previous quarter. All thanks to a surge in biomedical production.

Manufacturing is not exactly a huge part of Singapore's economy, but the island specialises in pharmaceuticals and high-end specialist manufacturing.

And increased demand for flu vaccines helped an already recession-proof sector to expand.

Exports, which are the real lifeblood of Singapore's economy, rose nearly 6% in May.

Shipments of raw materials such as iron ore are picking up. The reason, yet again, appears to be China.

The rest of the manufacturing sector is still struggling, however, and retail sales are still down. Domestic consumption is not picking up, so analysts say the worst may not be over yet.

- Mariko Oi, reporter, BBC Asia Business Report

Sunday, July 12, 2009

If I've learnt 3 things in recruitment...

1) Be completely flexible to your clients' needs

2) Don't promise something you can't deliver

3) It's not rocket science! The basics of hard-work, integrity & good client/candidate relationships will pay off.

By Michelle Jones of e-recruitment buddy

Saturday, July 11, 2009

Recruiters worst fear - back out!

Continuing from my previous post I would like to dwell here on the subject of back out in a little more detail.

The pain of losing out on a deal a billing does not apply anymore now that I don't have to worry on targets but it still does leaves a bad taste in my mouth.

I still believe that one should always be transparent if not at least there is such a thing as courtesy and that one is obliged to his or her recruiter in explaining the circumstances under which he/she had to back out or turn down an offer. After all, Singapore is but just a small island and you never know whom you bump into around the corner street or at the food court.

A good and wise candidate typically will have at close contact a doctor whom he can trust for his general well-being, a mentor a guru that he can always go to for advice or seek wisdom on life and someone also said a good recruiter whom he can call up anytime to seek career advice/better opportunity or simply banter with like good friend.

To everyone job seekers out there or for that matter anyone aspiring for better career opportunities you will gain more if consciously you try and cultivate a good relationship with your recruiter by giving and or showing respect and regards. We recruiters thrives on such and don't be surprised your gesture might just be reciprocated with similar kinds or even deeds ;-)

Friday, July 10, 2009

Singapore job market shows signs of pick-up!

This is my second post in as many weeks on the improving sentiments in the job market here in Singapore. I would also like to believe that this positive waves will continue for another quarter to allow us to propel through the rest of the year into the 1st quarter of 2010.

Almost every paper this morning carried news of survey results collated from some of the leading multinational recruitment firms. Everyone echoed similar sentiments; higher recruitment projection for the next quarter, substantial increased in hiring this quarter and the two sectors that showed most remarkable turnaround are IT and Banking Finance.

Q3 forecast as per Hudson's May survey shows - 32 percent of respondents in banking and finance expect to increase recruitment as compared to 19 percent in Q2.

While in IT & Technology due to the result of solid pipeline of revenue-generating projects built up in Q2 25 percent of respondents expects to grow headcount.

As an in-house recruiter in a mid size regional bank contrary to the negative hiring trend in the market outside in the past few quarters we've never slowed down on our recruitment pace.

However, lately and even more so this last 2 months I am getting to experience candidates that are willing to turn down or back out of offers while in the process of signing the contract or in one instance just days before reporting for work.

This to me, from past experience ( Y2K project and SAP boom days) is one sure sign that the job market is bullish and that candidates have in their hands multiple job offers.

Wishing all the recruiter folks out there happy hunting and good billings!

Wednesday, July 01, 2009

Singapore employment outlook brightens

Singapore, June 2009: Could this represent a "green shoot" for the Singapore economy? According to Manpower's quarterly employment outlook survey, more employers are expecting to return to the hiring table over the next three months.

Of the 697 employers considered for the third quarter update, 12% expected to see an increase in their headcounts. A further 7% predicted a decrease in staff while the remaining respondents expected there would be no change in the third quarter.

Philippe Capsie, country manager of Manpower Singapore, says this represents a significant turnaround on the group's second quarter survey. Then, more employers expected to reduce headcount, rather than increase it. "While there is no quick fix in this current economy downturn, employers' hiring confidence is improving," he said. "Most employers are saying they will retain present staff in the third quarter, indicating that the worst may be behind us."

The survey considered seven distinct industry sectors. Of these, four (including manufacturing, finance and construction) predicted negative employment growth overall. In contrast, modest growth was predicted for the transportation, utilities and retail trade sectors.