Transcript Slide 1
EGN SME Meeting 25.8.09 •Profile of Tiro Consulting •Key Challenges Faced •Employment Outlook Perlita Tiro, Managing Director Tiro Consulting Services Pte Ltd Company Profile 20 Years in Creating Futures Our Firm ★ Leading international executive search organization. ★ Now in its 21st year of operations, has long tradition in local, regional & international executive search. ★ Combined partner-driven services with global search capabilities. Types of Services Started in 1989 specializing in HR consultancy mainly in: Executive Search Advertising – based Recruitment Human Resource Development Career Transition Programmes 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 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 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 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 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 Sample Assignments MANUFACTURING COMPANIES Snr Sales Engineers Financial Controller Dir of Sales & Mktg Reg Supply Base Mgr Product Manager Accountant Sales Devt Mgr Quality Control Mgr Leader in motion control technology US Contract Mfr of PCBAs and Box-built Products US MNC Mfr of Specialty Electrical & Electronics Products US Computer Manufacturing Leader in Electrical Cabling Solutions Australian Light Mfg Firm US Microelectronics Company German Wafer Packaging Mfr Banks and Financial Institutions Director, Transaction Banking Director, Business Development Head, EDP Department General Manager Senior Investment Position Private Banking Managers British Commercial Bank ASEAN Merchant Bank Local Insurance Group Insurance Company Government, Gulf Region 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 Sample Assignments HOSPITALITY General 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 Head of HR, Shanghai Exclusive Resorts Group Luxurious F&B and Retail Establishment General Manager Major Orchard Retail Mall 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 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, Asia Pac US Microprocessors Manufacturer 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) Our Search Procedures are Comprehensive and In-depth Executive Search 1. Obtain information on: ★ Company ★ Job Responsibilities ★ Requirements of person ★ Key results areas 2. Draft specifications Executive Search 3. Conduct ★ Research on companies & candidates ★ Checks through industry contacts ★ Preliminary assessment of candidates 5. Prepare & present shortlist reports Executive Search 6. Assist in ★ arranging meetings between client and candidates ★ negotiation of terms with appointee 7. Conduct formal reference checks Searches are Well-defined Assignment Specification The Company The Position Reporting Relationship The Man or Woman The Reward Advertising for Cost-Effective Recruitment Advertising-based Recruitment 1. Obtain information on : ★ Company ★ Job description ★ Requirements of person ★ Key results areas 2. Draft advertisement Advertising-based Recruitment 3. Conduct interviews & evaluate good prospects, supplemented with psychometric testing 4. Prepare and present shortlist reports Advertising-based Recruitment 5. Assist in ★ Arranging meetings between client and candidates ★ Negotiation of terms with appointee ★ Conducting formal reference checks Database Search for Generic Positions 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 Our Shortlist Reports are Comprehensive Detailed Shortlist Report Personal Details Education Special Courses Languages Computer Career Literacy History Detailed Shortlist Report Personal Qualities Initial Impressions Communication Personality & Work Style Mental Abilities Executive Qualities Availability Summary and Recommendation Our assessment is supplemented by a Psychometric Exercise TIPP Profile Sheet • • • • • • • • • • Task Orientation Hard Work Ambition Leadership Responsibility Decision Making Organization Detail Orientation Thinking Mental Agility • • • • • • • • • • Physical Vigour Closeness to Individuals Closeness to Groups Social Extension Need to be Noticed Flexibility Emotional Control Aggression Need for Superior Support Need for Direction TIPP Profile Sheet 0 Task Orientation - F Hard Working - H Ambition - A Leadership - L Responsibility over people - R Decision Making - D Organization - O Meticulous - M Thinking - T Mental Agility - B Physical Vigour - V Personal closeness to Individuals - P Closeness to Groups -G Social Extension - X Need to be Noticed - N Flexibility - C Emotional Control - E Aggression - K Need for Superior Support - S Need for Instructions - I 1 2 3 4 5 6 7 8 9 Current Key Challenges 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 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.] Steps Taken ★ Pursue companies/industries hiring ★ Faster turn-around on both pursuing “greenshoots” 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 Employment Outlook Current Situation Employment (In ‘000s) CHANGE EMPLOYMENT 1Q 09 2Q 09 LEVEL 6.09 TOTAL -6.2 -12.4 2,933.8 -22.1 -17.6 546.6 CONSTRUCTION 8.3 3.4 371.7 SERVICES 7.5 2.1 1,995.6 MANUFACTURING Redundancy 1Q 09 2Q 09 REDUNDANCY 12,760 5,500 Retrenchment 10,900 4,800 1,860 700 Early Release of Contract Workers Redundancy by Sector 2Q 08 1Q 09 2Q 09 TOTAL 1,880 12,760 5,500 MANUFACTURING 1,250 9,250 2,600 20 330 500 620 3,170 2,400 CONSTRUCTION SERVICES Unemployment Rate 6.08 9.08 12.08 3.09 6.09 OVERALL (%) 2.2 2.3 2.5 3.3 3.3 RESIDENT (%) 3.1 3.4 3.6 4.8 4.6 OVERALL (%) 2.8 1.9 2.4 3.0 4.2 RESIDENT (%) 4.0 2.8 3.5 4.4 6.0 SEASONALLY ADJ NON-SEASONALLY ADJ 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 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 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 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 Government Initiatives ★ Jobs Credit Scheme ★ SPUR programme Have they worked?? For how long? 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). ★ ★ ★ 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 Your •Experience •Input •Views Thank You