Asia’s Increased Competitive Landscape - HR Implications on Talent Attraction and Retention by @EricPesik

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Asia’s Increased Competitive Landscape - HR Implications on Talent Attraction and Retention, by Eric Pesik. Presented at the Crown Leadership International Group: Compensation and Benefits Asia …

Asia’s Increased Competitive Landscape - HR Implications on Talent Attraction and Retention, by Eric Pesik. Presented at the Crown Leadership International Group: Compensation and Benefits Asia Congress, March 2014, Orchard Parade Hotel, Singapore: (1) The rise of Asia and the new diversified workforce; (2) Winning Companies: What sets them apart? (3) Performance & Pay: What else is new? (4) Performance & Development: Who is a Talent? (5) From HR Programs to Reality: What makes the difference?

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  • 1. Asia’s Increased Competitive Landscape HR Implications on Talent Acquisition and Retention http://www.flickr.com/photos/jorgecancela/8009593783/ Flickr Creative Commons
  • 2. The Rise of Asia What is the new diversified workforce?
  • 3. Pop Quiz Name this Country:
  • 4. • Largest Military • Currency is the Global Standard for Commercial Transactions • Center of World Business • One of Richest in the World • One of the Highest Standards of Living • Center of Innovation and Invention
  • 5. England at end of 19th Century http://office.microsoft.com/en-us/images/results.aspx?qu=brittain&ex=1#ai:MP900422830| Used with permission of Microsoft
  • 6. USA at end of 20th Century http://office.microsoft.com/en-us/images/results.aspx?qu=Old%20Glory#ai:MP900400667|mt:2| Used with permission of Microsoft
  • 7. China at end of 21st Century? http://office.microsoft.com/en-us/images/results.aspx?qu=china+flag&ex=1#ai:MP900400801|mt:2| Used with permission of Microsoft
  • 8. What does “the rise of Asia” mean? http://office.microsoft.com/en-us/images/results.aspx?qu=Asian#ai:MP900430918|mt:2| Used with permission of Microsoft
  • 9. If you are 1 in a million... http://office.microsoft.com/en-us/images/MP900439324.aspx?redir=0 Used with permission of Microsoft
  • 10. In China, there are 1,350 people just like you http://www.flickr.com/photos/dailuo/6759469363/ Flickr Creative Commons
  • 11. In India, there are 1,240 more http://www.flickr.com/photos/56796376@N00/3059483658/ Flickr Creative Commons
  • 12. The top 10% of the population in Asia... Top 10%
  • 13. Is greater than the entire population of the United States http://en.wikipedia.org/wiki/File:USA_orthographic.svg
  • 14. There are more honors students in Asia... Flickr Creative Commons http://www.flickr.com/photos/98195299@N00/296747958/
  • 15. ...than all students in the USA combined Flickr Creative Commons http://www.flickr.com/photos/pinksherbet/6961676525/
  • 16. There are more English-speaking people in Asia... Flickr Creative Commons http://www.flickr.com/photos/41087714@N00/253197253/
  • 17. ...than there are English people Flickr Creative Commons http://www.flickr.com/photos/tinou/380129764/
  • 18. ...or Americans Flickr Creative Commons http://www.flickr.com/photos/kevcole/4762409528/
  • 19. If you took every job in the USA and shipped it to Asia... http://office.microsoft.com/en-us/images/results.aspx?qu=jobs#ai:MP900442205|mt:2| Used with permission of Microsoft
  • 20. ...Asia would still have a labour surplus Flickr Creative Commons http://www.flickr.com/photos/downeym/4550576962/
  • 21. But...
  • 22. No Asian company among top-10 largest publically traded companies http://en.wikipedia.org/wiki/List_of_corporations_by_market_capitalization Up to date as of December 31, 2013. $240 $241 $255 $258 $284 $292 $310 $312 $442 $505 Chevron Corporation Hoffman-La Roche Wal-Mart Stores Johnson & Johnson General Electric Berkshire Hathaway Google Microsoft Exxon Mobile Apple (Switzerland)
  • 23. Talent remains a critical pressure point for Asia businesses Flickr Creative Commons http://www.flickr.com/photos/46560341@N05/7022614653/
  • 24. Singapore low population growth is creating a labour shortage http://oliveventures.com.sg/act/wp-content/uploads/2013/02/population-of-singapore-infographic.png
  • 25. Cost of living is increasing http://www.straitstimes.com/breaking-news/money/story/singapore-most-expensive-city-the-world-study-20140304
  • 26. Compensation is rising to grab scarce talent Flickr Creative Commons http://www.flickr.com/photos/84292292@N00/8623291417/
  • 27. Education strategies not matched to talent demands Flickr Creative Commons http://www.flickr.com/photos/48889125739@N01/112866960/
  • 28. Shortage of qualified managers in fast-growing Asia economies Flickr Creative Commons http://www.flickr.com/photos/76029035@N02/6829422155/
  • 29. Diversified workforce is challenging conventional performance models http://www.flickr.com/photos/kodomut/3274861957/ Flickr Creative Commons
  • 30. Majority of CEOs plan to increase Asia headcount in 2014 Flickr Creative Commons http://www.flickr.com/photos/74818532@N00/4911826885/
  • 31. Hiring levels in Asia are twice as high as in US and Europe http://www.pwc.com/saratoga Breaking out of the talent spiral - Key human capital trends in Asia-Pacific 22% 10% 11% Asia USA Europe
  • 32. But...
  • 33. 20% of new hires leave within the 1st year Flickr Creative Commons http://www.flickr.com/photos/michaelduxbury/5004921106/
  • 34. Turnover rates in Asia are twice as high as US and Europe http://www.pwc.com/saratoga Breaking out of the talent spiral - Key human capital trends in Asia-Pacific 15.2% 7.0% 6.6% Asia USA Europe
  • 35. Your business needs to nurture and hold close what you have – it’s hard to fill the bath with the plug out. Michael Rendell PricewaterhouseCoopers, Global Head of HR Service Practice
  • 36. Finding and retaining critical talent is more challenging and expensive Flickr Creative Commons http://www.flickr.com/photos/jseita/5407005494//
  • 37. Global 43% Asia 60% It’s even more challenging in Asia CEOs who say it is more difficult to hire talent http://www.pwc.com/saratoga Breaking out of the talent spiral - Key human capital trends in Asia-Pacific
  • 38. Where do we go from here?
  • 39. Less emphasis on structure http://www.todayonline.com/singapore/play-important-early-childhood-education-heng-swee-keat
  • 40. More emphasis on creativity http://news.insing.com/feature/creativity-must-be-a-national-priority-nmp-janice-koh/id-f83b3101
  • 41. G.P.A.’s are worthless as a criteria for hiring, and test scores are worthless. We found that they don’t predict anything Laszlo Bock Senior Vice President of People Operations Google
  • 42. Re-think HR’s role in how companies attract and retain talent Flickr Creative Commons http://flickr.com/photos/u-suke/7613586712
  • 43. Bringing in more expats is not the solution http://singaporeseen.stomp.com.sg/singaporeseen/this-urban-jungle/anton-casey-furore-his-employers-currently-investigating-the-comments-and-will
  • 44. Expats in senior management roles at MNCs http://management.fortune.cnn.com/2013/06/24/leadership-diversity-multinationals/ 56% 12% 1990s 2000s Proportion of expatriates in senior management roles at multinationals in China, India, Brazil, Russia, and the Middle East
  • 45. Western MNCs are loosing the advantage attracting local talent http://www.executiveboard.com/blogs/5-key-asia-hr-trends-heading-into-2014/ Prefer MNCs 24% Prefer Domestic Firms 47% Other 29% China labor preference for working for a domestic company versus Western MNCs
  • 46. http://www.todayonline.com/singapore/more-locals-hired-last-year-growth-foreign-employment-slows
  • 47. Winning Companies What sets them apart?
  • 48. Upgrading HR to C-Suite Used with Permission of Microsoft http://office.microsoft.com/en-us/images/results.aspx?qu=meetings&ex=1#ai:MP900422638|
  • 49. Priorities for Businesses 1. Attracting talent 2. Retaining talent Priorities for business
  • 50. Attracting talent
  • 51. Employment Value Proposition (EVP) Framework The set of attributes that the labor market and employees perceive as the value they gain through employment in the organization Rewards Compensation Health Benefits Opportunity Development Opportunity Future Career Opportunity Growth Rate Meritocracy Stability Organization Customer Prestige Empowerment Environmental Responsibility Ethics/Integrity Formality of Work Env. ‘Great Employer’ Inclusion / Diversity Industry Desirability Market Position Product or Service Quality Respect Risk Taking Organization Size Social Responsibility Technology Level Well-Known Product Brand People Camaraderie Collegial Work Environment Co-Worker Quality Manager Quality People Management Sr. Leadership Reputation Work Business Travel Innovative Work Job–Interests Alignment Level of Impact Location Recognition Work–Life Balance Employee Workforce Insights for Singapore - Engagement and Retention of Talent in Singapore The Corporate Executive Board Company, February 2014
  • 52. Singapore EVP Employment Value Proposition Rewards • Health Benefits • Compensation Opportunity • Stability • Development • Future Career Organization • Respect Work • Location • Work-Life Balance • Job Interest Align • Recognition People Employee Workforce Insights for Singapore - Engagement and Retention of Talent in Singapore The Corporate Executive Board Company., February 2014 Most frequently selected by employees in Singapore as reasons to join a new organization
  • 53. Not all factors are equal Rewards WorkOrganization Opportunity Employee Workforce Insights for Singapore - Engagement and Retention of Talent in Singapore The Corporate Executive Board Company, February 2014 Employment Value Proposition EVP Attraction Benefits Reduces compensation premium needed to hire by 50% Rewards are Important Employees in Singapore are least likely to be satisfied with value of rewards Rewards •Health Benefits •Compensation
  • 54. But EVP is not enough Flickr Creative Commons http://www.flickr.com/photos/76029035@N02/6829385031/
  • 55. Facebook’s $19 Billion Mistake? https://twitter.com/brianacton/status/3109544383
  • 56. What went wrong?
  • 57. Overly-narrow job specifications Flickr Creative Commons http://www.flickr.com/photos/kheelcenter/5279251361/
  • 58. HR does the recruiting http://office.microsoft.com/en-us/images/results.aspx?qu=MP900431736&ex=1#ai:MP900431736| Used with permission of Microsoft
  • 59. Traditional recruiting processes Flickr Creative Commons http://www.flickr.com/photos/cushinglibrary/3738556077/
  • 60. Failure to prep the candidate Flickr Creative Commons http://www.flickr.com/photos/jyri/996063332/
  • 61. Failure to prep hiring manager http://office.microsoft.com/en-us/images/results.aspx?qu=MP900442211&ex=1#ai:MP900442211| Used with permission of Microsoft
  • 62. Failure to leverage the interview Flickr Creative Commons http://www.flickr.com/photos/76029035@N02/6829510801/
  • 63. Inadequate reference checks Flickr Creative Commons http://www.flickr.com/photos/76029035@N02/6829454435/
  • 64. Decision process too long Flickr Creative Commons http://www.flickr.com/photos/76029035@N02/6829506735/
  • 65. Job offer process too long Flickr Creative Commons http://www.flickr.com/photos/76029035@N02/6829381157/
  • 66. Priorities for Businesses 1. Attracting talent 2. Retaining talent Priorities for business
  • 67. Retaining talent
  • 68. Performance & Pay What else is new?
  • 69. High EVP satisfaction leads to high performance and retention The Corporate Executive Board Company.CEB Employee Workforce Insights for Singapore 8.7% 33.6% 5.5% 17.6% Low EVP High EVP Low EVP High EVP High Intent to Stay (4x) High Discretionary Effort (3x)
  • 70. It’s not about the money Flickr Creative Commons http://www.flickr.com/photos/36495803@N05/8463683689/
  • 71. We hired experienced, talented people and gave them large salaries. But did we retain them? No. Dr. Sun Mingbo President and Chairman of Board Tsingtao Brewery Co. Ltd., China
  • 72. Training http://www.inc.com/abigail-tracy/onboarding-new-hires-dont-care-about-perks.html
  • 73. HR needs more levers and dials Flickr Creative Commons http://www.flickr.com/photos/boedker/93511050/
  • 74. The factors that lead to extreme job satisfaction are separate and distinct from the factors that lead to dissatisfaction
  • 75. -35% -20% -10% -10% -8% -4% -6% -5% -3% -2% -11% -4% -13% -9% -11% 3% 4% 5% 2% 7% 1% 4% 4% 2% 1% 18% 20% 21% 30% 40% Company Policy and Administration Supervision Relationship with Supervisor Work Conditions Salary Personal Life Relationship with Peers Relationship with Subordinates Status Security Growth and Advancement Responsibility Work Itself Recognition Achievement It’s not about the money One More Time: How Do You Motivate Employees? Frederick Herzberg Harvard Business Review Reprint 87057
  • 76. Normally we think of satisfaction/dissatisfaction as opposites. But job satisfaction is not the opposite of job dissatisfaction
  • 77. Motivators One More Time: How Do You Motivate Employees? Frederick Herzberg Harvard Business Review Reprint 87057 -11% -4% -13% -9% -11% 18% 20% 21% 30% 40% Growth and Advancement Responsibility Work Itself Recognition Achievement
  • 78. Extreme job satisfaction http://office.microsoft.com/en-us/images/results.aspx?qu=joy&ex=1#ai:MP900431739|mt:2| Used with permission of Microsoft
  • 79. Demotivators One More Time: How Do You Motivate Employees? Frederick Herzberg Harvard Business Review Reprint 87057 -35% -20% -10% -10% -8% 3% 4% 5% 2% 7% Company Policy and Administration Supervision Relationship with Supervisor Work Conditions Salary
  • 80. Extreme job dissatisfaction http://office.microsoft.com/en-us/images/results.aspx?qu=dispair&ex=1#ai:MP900431223| Used with permission of Microsoft
  • 81. Neutral factors One More Time: How Do You Motivate Employees? Frederick Herzberg Harvard Business Review Reprint 87057 -4% -6% -5% -3% -2% 1% 4% 4% 2% 1% Personal Life Relationship with Peers Relationship with Subordinates Status Security
  • 82. Neither satisfied nor dissatisfied http://office.microsoft.com/en-us/images/results.aspx?qu=boring&ex=1#ai:MP900442297|mt:2| Used with permission of Microsoft
  • 83. What does this mean to HR?
  • 84. Instead of giving employees raises, bonuses, and promotions...
  • 85. Remove controls while retaining accountability Used with Permission from Microsoft http://office.microsoft.com/en-us/images/results.aspx?qu=offices#ai:MP900402508|mt:2|
  • 86. Increase accountability of individuals for their own work Used with Permission from Microsoft http://office.microsoft.com/en-us/images/results.aspx?qu=Asian%20men#ai:MP900442502|mt:2|
  • 87. Give employees a complete natural unit of work Used with permission from Microsoft http://office.microsoft.com/en-us/images/results.aspx?qu=executives#ai:MP900448494|mt:2|
  • 88. Grant additional authority and job freedom in their activities Flickr Creative Commons http://www.flickr.com/photos/mishism/5371077178/
  • 89. Feedback reports directly to workers rather than supervisors Used with Permission from Microsoft http://office.microsoft.com/en-us/images/results.aspx?qu=thinking#ai:MP900430900|mt:2|
  • 90. Offer new and more difficult tasks not previously handled Used with permission from Microsoft http://office.microsoft.com/en-us/images/results.aspx?qu=thinking&ex=1#ai:MP900422989|mt:2|
  • 91. Enable individuals to become experts through specialized roles Used with permission from Microsoft http://office.microsoft.com/en-us/images/results.aspx?qu=presentations#ai:MP900427762|
  • 92. How does HR Compensation and Benefits fit in here?
  • 93. supervision status security work itself recognitionsalary personal life achievement responsibilitywork conditions relationship with peers growth and advancement relationship with supervisor relationship with subordinates company policy and administration HR Issues?
  • 94. supervision status security work itself recognitionsalary personal life achievement responsibilitywork conditions relationship with peers growth and advancement relationship with supervisor relationship with subordinates company policy and administration HR Issues?
  • 95. supervision status security work itself recognitionsalary personal life achievement responsibilitywork conditions relationship with peers growth and advancement relationship with supervisor relationship with subordinates company policy and administration HR Issues?
  • 96. The motivators and demotivators are not just management issues. They are HR issues.
  • 97. Empower HR to change the workplace environment http://office.microsoft.com/en-us/images/results.aspx?qu=gestures#ai:MP900431153|mt:2| Used with permission of Microsoft
  • 98. Flexible work schedules http://www.todayonline.com/singapore/raise-productivity-let-more-employees-work-home
  • 99. Less emphasis on structure http://www.todayonline.com/singapore/play-important-early-childhood-education-heng-swee-keat
  • 100. More emphasis on creativity http://news.insing.com/feature/creativity-must-be-a-national-priority-nmp-janice-koh/id-f83b3101
  • 101. Performance & Development Who is a talent?
  • 102. Reframe the discussion on talent http://office.microsoft.com/en-us/images/results.aspx?qu=gestures#ai:MP900407401|mt:2| Used with permission of Microsoft
  • 103. Weak managers hire skills http://office.microsoft.com/en-us/images/results.aspx?qu=bosses#ai:MP900448685|mt:2| Used with permission of Microsoft
  • 104. Strong managers hire talent and teach specific skills http://office.microsoft.com/en-us/images/results.aspx?qu=professionals#ai:MP900422122|mt:2| Used with permission of Microsoft
  • 105. To avoid talent shortages, hire talented managers http://office.microsoft.com/en-us/images/results.aspx?qu=motivations#ai:MP900435893|mt:2| Used with permission of Microsoft
  • 106. Apprenticeship and mentoring Used with permission from Microsoft http://office.microsoft.com/en-us/images/results.aspx?qu=teach&ex=1#ai:MP900427658|mt:2|
  • 107. Technology undermines search and retention of talent Logos are trademarks of their respective companies
  • 108. Application Tracking Systems Flickr Creative Commons http://www.flickr.com/photos/enerva/9153746729/
  • 109. HR is becoming database admins Flickr Creative Commons http://www.flickr.com/photos/hunter0405/6396994487/
  • 110. Successful candidates from job boards 1.3% 1.2%
  • 111. Screening out the best talent? https://twitter.com/brianacton/status/3109544383
  • 112. How to retain innovators? http://www.forbes.com/sites/johnkotter/2013/08/21/googles-best-new-innovation-rules-around-20-time/
  • 113. From HR Programs to Reality What makes the difference?
  • 114. We decided to start over. We had struggled for so long to improve HR’s effectiveness in Asia, business leaders just got fed up. We brought in a whole new HR leadership team to turn things around. But honestly, two years later, not much has changed. Global Chief HR Officer Manufacturing Company
  • 115. Destined to Fail? Flickr Creative Commons http://www.flickr.com/photos/fdecomite/388303700/
  • 116. 70% of all change initiatives fail Cracking the Code of Change by Michael Beer and Nitin Nohria http://hbr.org/2000/05/cracking-the-code-of-change/ar/1 Failure 70%
  • 117. Less that 1/3 of business executives think that Asia HR is creating value Transforming Asia HR's Enterprise Impact http://www.executiveboard.com/exbd/en-sg/human-resources/asia-hr-leadership/Asia-HR-Enterprise-Impact/index.page Create Value 31%
  • 118. We implemented [HRIS software] last year. We spent a fortune on it, and it’s practically worthless. It literally must be the most expensive filing cabinet ever purchased. SVP HR, North Asia Global
  • 119. Why do initiatives fail? Failure Causes Statistics http://www.it-cortex.com/Stat_Failure_Cause.htm 11% 12% 13% 17% 20% 26% 29% 34% 35% 39% 57% Insufficent measurable outputs Supplier under-resourced Supplier skills outstretched Overall poor management Mismanagement of progress Cost overruns Inadequate coordination Milestones not met No quality control Lack of planning Bad communication
  • 120. Our Head of HR was fired . . . After three years of focus groups and analysis, they basically told us what we already knew. We had nothing to show for the investment. VP of HR, International Financial Services Company
  • 121. HR shift from service provider to enterprise enabler Old Role: Service Provider HR Focus Focusing on driving HR outcomes Improve HR Activities Providing more HR support and services for higher line satisfaction Skill Development Being more “strategic” through improved HR-line partnerships New Role: Enterprise Enabler Enterprise Focus Focus on HR’s role in building enterprise capabilities. Redefine HR Service Effectiveness Rethink the way HR services create business value Functional Behaviour Change Equipping the team to make transformational shifts in day-to-day behaviours and work Transforming Asia HR's Enterprise Impact http://www.executiveboard.com/exbd/en-sg/human-resources/asia-hr-leadership/Asia-HR-Enterprise-Impact/index.page
  • 122. Barriers to transformation Flickr Creative Commons http://www.flickr.com/photos/rob-young/2954535776/
  • 123. How to get past key barriers Transforming Asia HR's Enterprise Impact http://www.executiveboard.com/exbd/en-sg/human-resources/asia-hr-leadership/Asia-HR-Enterprise-Impact/index.page • How can Asia HR reposition itself to drive enterprise capabilities? Asia HR is too focused on HR or financial outcomes • How can Asia HR’s services help accelerate organizational competitiveness and growth across time? Asia HR improvement efforts typically target incremental operational improvements or HR activities • How can Asia HR executives re- orient staff to enable their enterprises? Asia HR staff apply an HR administrator or operators mindset to their roles
  • 124. Why change?
  • 125. Upgrading HR to C-Suite Used with Permission of Microsoft http://office.microsoft.com/en-us/images/results.aspx?qu=meetings&ex=1#ai:MP900422638|
  • 126. Empower HR to change the workplace environment http://office.microsoft.com/en-us/images/results.aspx?qu=gestures#ai:MP900431153|mt:2| Used with permission of Microsoft
  • 127. The question isn’t who’s going to let me? Its who’s going to stop me? Paraphrasing Howard Roark Ayn Rand The Fountainhead
  • 128. Asia’s Increased Competitive Landscape HR Implications on Talent Acquisition and Retention http://www.flickr.com/photos/jorgecancela/8009593783/ Flickr Creative Commons
  • 129. Ask The Headhunter • The Talent Shortage Myth and Why HR Should Get Out of the Hiring Business http://www.pbs.org/newshour/making-sense/ask-the-headhunter-the-talent/ • Top Ten Stupid Hiring Mistakes http://www.asktheheadhunter.com/hatenmistakes1.htm http://www.asktheheadhunter.com/hatenmistakes2.htm • Talent Shortage http://www.asktheheadhunter.com/hatalentshortage1.htm http://www.asktheheadhunter.com/hatalentshortage2.htm CNN Money / Fortune • World's biggest companies: Still xenophobic, after all these years http://management.fortune.cnn.com/2013/06/24/leadership-diversity- multinationals/ Corporate Executive Board Co. • 5 Key Asia HR Trends Heading into 2014 http://www.executiveboard.com/blogs/5-key-asia-hr-trends-heading-into-2014/ • Employee Workforce Insights for Singapore - Engagement and Retention of Talent in Singapore http://news.executiveboard.com/global-workforce-insights • China: The Death of the Western Employer Brand Premium http://www.executiveboard.com/blogs/china-the-death-of-the-western- employer-brand-premium/ • Transforming Asia HR's Enterprise Impact http://www.executiveboard.com/exbd/en-sg/human-resources/asia-hr- leadership/Asia-HR-Enterprise-Impact/index.page Source Acknowledgements Flickr Creative Commons Images • Images used under Creative Commons license http://www.flickr.com/creativecommons/ Forbes • Google's Best New Innovation: Rules Around '20% Time' http://www.forbes.com/sites/johnkotter/2013/08/21/googles-best-new- innovation-rules-around-20-time/ Harvard Business Review • One More Time: How Do You Motivate Employees? http://hbr.org/2003/01/one-more-time-how-do-you-motivate-employees/ar/1 • Cracking the Code of Change http://hbr.org/2000/05/cracking-the-code-of-change/ar/1 HR Boss Blog • HR Trends 2014 in Asia http://hrboss.com/blog/hr-trends-2014-asia Inc. • Offer Your New Hires Training, Not Free Doughnuts http://www.inc.com/abigail-tracy/onboarding-new-hires-dont-care-about- perks.html?cid=em01011week12day19b InSing.com • Creativity must be a national priority: NMP Janice Koh http://news.insing.com/feature/creativity-must-be-a-national-priority-nmp- janice-koh/id-f83b3101
  • 130. IT Cortex • Failure Causes Statistics http://www.it-cortex.com/Stat_Failure_Cause.htm Microsoft Office Online Images • Images from Microsoft Office Online are used with permission from Microsoft; no rights to further license or distribute the media elements http://office.microsoft.com/en-us/images/ PricewaterhouseCoopers Saratoga • Breaking out of the talent spiral – Key human capital trends in Asia-Pacific http://www.pwc.com/saratoga Stomp • Anton Casey furore http://singaporeseen.stomp.com.sg/singaporeseen/this-urban-jungle/anton- casey-furore-his-employers-currently-investigating-the-comments-and-will Straits Times • Singapore most expensive city in the world http://www.straitstimes.com/breaking-news/money/story/singapore-most- expensive-city-the-world-study-20140304 Source Acknowledgements Today Paper • ‘Play’ important in early childhood education: Heng Swee Keat http://www.todayonline.com/singapore/play-important-early-childhood- education-heng-swee-keat • More locals hired last year as growth in foreign employment slows http://www.todayonline.com/singapore/more-locals-hired-last-year-growth- foreign-employment-slows • To raise productivity, let more employees work from home http://www.todayonline.com/singapore/raise-productivity-let-more-employees- work-home Twitter • Brian Acton @brianacton https://twitter.com/brianacton/status/3109544383 Wikipedia • List of public corporations by market capitalization As of December 31, 2013 http://en.wikipedia.org/wiki/List_of_corporations_by_market_capitalization Other Sources • Corporate logos are property of their respective companies. • All other sources and images are acknowledged where they appear.
  • 131. Eric Pesik Eric Pesik is a frequent speaker on legal and compliance matters and has taught law school and business school in the USA and Singapore. Background Mr. Pesik is currently the Associate General Counsel and Compliance Officer for Seagate Singapore International Headquarters Pte Ltd. He has been a lawyer since 1997 and is a member of the State Bar of California, USA. He is also admitted to the US Court of International Trade in New York and the US Supreme Court in Washington, DC. Disclaimer This work represents the opinions of the author alone, and is not the opinion his employer. Other Presentations Many of Mr. Pesik’s presentations are available on SlideShare at: http://www.slideshare.net/ericpesik Creative Commons Attribution License You are free to share, copy, distribute, and transmit this work; to remix or adapt this work; and to make commercial use of this work, under the condition that you must attribute this work to me (but not in any way that suggests that I endorse you or your use of this work). Each slide contains source attributions and URL; before reusing, you must obtain the original images from the original sources, and you must comply with any applicable license restrictions imposed by the original source. http://creativecommons.org/licenses/by/3.0/ About the Author