Commentary

As the world emerges from the GFC it is clear that people have very different attitudes to work and their employment situations. Stabilityand security are now far bigger priorities than ever before which has had a knock-on affect to the liquidity of global labour markets.

The global financial crisis has impacted on the margins and risk profile on which many infrastructure project finance business plans were based.

Consultant Aimee Young says you can ensure that you ace your next interview by following just a few simple tips.

If a nation’s brand values can be summed up by how it names its shopping centres, what does this say about the UK versus Singapore? Chris Reed tells us.

An asset training plan will drive a competitive advantage for assets that can tangibly demonstrate better sustainability, lower service charge and better tenant services.

Over the last four decades, the government of Singapore and its people have built a city that is known around the world as being very clean, safe and a wholesome place to live and raise a family. Our reputation for law and order and strict enforcement by a government that does not compromise is legendary.

Predicting the future can be a notoriously tricky business. Things that people declare with certainty will happen often don’t, while things that no one saw coming have a horrible habit of actually happening.

Patricia Pascuzzo explores the many benefits of using 'strategic conversation' and scenario analysis to develop successful portfolio strategies.

Garry Hawker examines some of the latest thinking around risk factors, 'return drivers' and whether they are a more effective means of diversification versus an asset class approach.

This question although controversial is definitely being tested across the board at present with many finding it a cryptic puzzle to solve.

The global financial crisis (GFC) gave employers a breather from the skills shortage - there were a large number of candidates available and so employers wanted proven performers. Now, in line with the market’s steady recovery, the number of highly skilled candidates has reduced and skills shortages are starting to emerge. A number of sectors such as Accountancy & Finance, Banking and IT are experiencing a shortage of highly skilled and specialised candidates. The good news for employers is that there are steps you can take towards minimising the impact. 1. Train entry-level candidates: There was very little investment in recruiting and training entry-level candidates during the financial downturn as employers opted for proven performers. Graduates and less experienced candidates are often highly motivated and work hard to prove their ability, making them a valuable commodity. 2. Consider transferable skills: Don’t immediately turn away a candidate because they don’t have industry specific experience. If the applicant is from a related field, for example from other heavy infrastructure projects, check to see if their skills are transferable. 3. Consider overseas candidates: Singapore is fast becoming a hub for global business. Combined with the global nature of the oil and gas industry, you might consider talent from other countries. 4. Look ahead: We also advise employers when recruiting to look ahead at what a candidate can offer in the coming three to five years, rather than just the next two years. This will also have a positive effect internally, with staff valuing the potential for future opportunities with their employer. 5. Partner with a recruiting expert: As economic conditions continue to improve, competition for the best talent will only increase. Finding the right candidate with the necessary skills and experience will take significant time and resources. Working with a recruitment firm will save you time, money and effort.

Julia Smith, Singapore Practice Leader for Performance & Reward, Ernst & Young, shares the concerns in the boardroom on executive pay and the shifts in approach to Board governance.

Globally we have seen financial institutions teetering on the brink of collapse, global brand names erased from the highstreet ….along with the highstreet themselves in many cases. We have seen many governments incur historically unheard of deficits, off the scale borrowing and decimating forests in their haste to print more money. As if the financial crisis wasn’t enough, we have also had to witness major natural disasters in the form of earthquakes in Haiti, floods and mud slides and some of the worst blizzards since records began sweeping across Europe and the US.As if that wasn't enough……along comes the movie 2012! You could be left wondering what the world is coming to!I don’t believe we are sufficiently experienced to answer that question today but we can consider the budget and whether Singapore truly is on the road to recovery. By all accounts, Singapore has weathered the storms well. Judging from the tenor of this year’s Budget speech, the general outlook is the storms have passed. The implementation of the Resilience Package helped kept confidence up and infused a much needed stability to businesses, labour and the economy.But is the worst really over?A significant amount of uncertainty hangs in the air judging by economic data coming out of the G3 countries. The Singapore Ministry of Trade and Industry has revised short term growth forecast from 3 to 5% to 4.5 to 6%. The thrust of Budget 2010 was clear in the need for Singapore to increase productivity and upgrade the quality and competitiveness of the small and medium enterprises.Is this achievable given Singapore inter-dependence on international trade?Many of the tax changes in the budget focused on this key productivity theme with tax concessions around R&D and incentives for spending in this area. Some of the things we have been asking for finally made an appearance in this budget showing the Government responds to feedback and initiatives. Sadly for some, this didn’t include any reduction in the personal tax rates or tax band. On the contrary, there appeared to be a concerted effort to subtly refocus the tax burden to those who can most afford it.So what are some of the specifics in this year’s budget, how will it benefit companies? Much of the budget detail is still to be revealed in the months ahead, and many of these will require further clarification. In the meantime, if you didn’t get anything on your wish list, you can at least drown your sorrows with the additional duty-free allowance for wine or beer from 1st April 2010!

As Singapore shifts its focus from achieving mere industrialisation to becoming a world class economy in the next decade, tax measures which encourage high value-adding activities and greater intensification of industrial land use are called for to support the progressive restructuring of the economy.

Given Singapore’s desire to become an international financial centre, the lack of significant new incentives to grow the industry was surprising.

By and large, Budget 2010 contained nothing very significant for individual taxpayers.