Competition for talent on a global scale
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BRITISH investment firm Barclays Capital wanted Ms Yu Yingxi so much that it was willing to fork out a six-figure sum to buy her out of her six-year bond with the Public Service Commission (PSC).
She had spent a year from June 2005 working with it in London after completing her studies in economics at the London School of Economics on a PSC scholarship.
But Ms Yu, now 25, turned down the offer from the firm - which had been paying her some £50,000 (about S$150,000) a year - to return to Singapore to serve out her bond.
While she declined to reveal how much she is getting now, she said it is considerably lower than what she would have got with Barclays.
Some of the attractions back home: her family and her wanting to make more of an impact in her job.
'While there was satisfaction in building up my clients' investment portfolio at Barclays, I derive greater satisfaction knowing that the research I do now with the Ministry of Trade and Industry contributes to economic policies which affect a wide strata of society, from the businessman to the man in the street,' said the second of three girls of a retired banker and teacher.
Her story is yet another example of the keen tussle for top talent, which is getting more intense globally.
The reason is that companies around the world are getting more aggressive and making no apologies about growing their businesses, said president and chief executive of home-grown real estate giant CapitaLand, Mr Liew Mun Leong, who is himself a former senior civil servant.
The global nature of this fight for talent means that while Singapore wants to attract more foreigners to Singapore, it would also have to be prepared to lose some Singaporeans to other countries, he said.
And there is nothing wrong with this, as it does not mean they are not contributing to Singapore, said Mr Liew.
'By working overseas, they would still be contributing to the gross national product (GNP).
'They don't have to just contribute to the gross domestic product (GDP),' said Mr Liew, 60, whose three children work in Shanghai and New York.
The GDP measures what is produced in the country and can include contributions made by foreigners.
The GNP, however, measures citizens' contributions, even if they are overseas, for example, through foreign businesses or properties they own.
The competition for talent starts when students are barely out of their teens.
Mr Tan Yong Liang, 19, currently doing national service, has friends with multiple offers of scholarships, from fields as varied as the uniformed services and finance.
The youngest of three sons of a secretary mother and a retiree, Mr Tan is a recipient of an undergraduate scholarship from the police force.
He said: 'Some of my friends have really been able to pick and choose from among the offers.'
Striats Times 12 Mar -
+1!
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kindly define 'talent'.
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How do we define talent? This is the most important question but our leaders do not appear to offer any definition. Instead they presumed all these years that only those with academic excellence are talented.
So our ministers and MPs were inducted from people who are scholars or those who have occupied some positions.
To our leaders it is immaterial whether scholars have implementation skills or abilities.
During the last three recessions when we need our scholars most numerous scholars among our ministers were rather muted and helpless preferring to put the blame on the world recessions or lack of training of our workers.
Our scholar talents only gave excuses putting the blame for mass retrenchments of workers on globalisation rather than their failures in remaking or restructuring the economy to one based on value-adding practical knowledge application. -
What is 'talent'? What is its definition?
What 'talent'? I sure as heck don't see or read much about 'talents' coming in breaking new gounds - just hell of a lot of murders, fraud, con-jobs, etc...and which national is most popularly featured in the papers? Noticed the latest murder at Raffles City??? Is that 'talent'?
This is precisely my question as well, but I feel it pointless to waste virtual-breath...
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The commercial world is best positioned to decide who is a talent and who isn't. At the end of the day, some will be millionaires and top CEOs, others will be jobless and on the dole. Who's the talent? The market will decide.
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Talentless people should...
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Or rather talent is only based on who sucks up to the boss the best which seems to be what we see here in Singapore.Originally posted by oxford mushroom:The commercial world is best positioned to decide who is a talent and who isn't. At the end of the day, some will be millionaires and top CEOs, others will be jobless and on the dole. Who's the talent? The market will decide. -
also, if you are talented but you criticise them, they do not want your talent even if it is good for the country... many talented Singaporeans realise that and make a beeline overseas... all talk of wanting talent is hot air, they only want people that like you say, suck up to them.Originally posted by Fingolfin_Noldor:Or rather talent is only based on who sucks up to the boss the best which seems to be what we see here in Singapore. -
Uh huh so what?Originally posted by oxford mushroom:BRITISH investment firm Barclays Capital wanted Ms Yu Yingxi so much that it was willing to fork out a six-figure sum to buy her out of her six-year bond with the Public Service Commission (PSC).
She had spent a year from June 2005 working with it in London after completing her studies in economics at the London School of Economics on a PSC scholarship.
But Ms Yu, now 25, turned down the offer from the firm - which had been paying her some £50,000 (about S$150,000) a year - to return to Singapore to serve out her bond.
While she declined to reveal how much she is getting now, she said it is considerably lower than what she would have got with Barclays.
Some of the attractions back home: her family and her wanting to make more of an impact in her job.
'While there was satisfaction in building up my clients' investment portfolio at Barclays, I derive greater satisfaction knowing that the research I do now with the Ministry of Trade and Industry contributes to economic policies which affect a wide strata of society, from the businessman to the man in the street,' said the second of three girls of a retired banker and teacher.
Her story is yet another example of the keen tussle for top talent, which is getting more intense globally.
The reason is that companies around the world are getting more aggressive and making no apologies about growing their businesses, said president and chief executive of home-grown real estate giant CapitaLand, Mr Liew Mun Leong, who is himself a former senior civil servant.
The global nature of this fight for talent means that while Singapore wants to attract more foreigners to Singapore, it would also have to be prepared to lose some Singaporeans to other countries, he said.
And there is nothing wrong with this, as it does not mean they are not contributing to Singapore, said Mr Liew.
'By working overseas, they would still be contributing to the gross national product (GNP).
'They don't have to just contribute to the gross domestic product (GDP),' said Mr Liew, 60, whose three children work in Shanghai and New York.
The GDP measures what is produced in the country and can include contributions made by foreigners.
The GNP, however, measures citizens' contributions, even if they are overseas, for example, through foreign businesses or properties they own.
The competition for talent starts when students are barely out of their teens.
Mr Tan Yong Liang, 19, currently doing national service, has friends with multiple offers of scholarships, from fields as varied as the uniformed services and finance.
The youngest of three sons of a secretary mother and a retiree, Mr Tan is a recipient of an undergraduate scholarship from the police force.
He said: 'Some of my friends have really been able to pick and choose from among the offers.'
Striats Times 12 Mar -
That is why I am waiting for the big recession to hit. Once it hits , a new set of profiteers will rise again.Originally posted by oxford mushroom:The commercial world is best positioned to decide who is a talent and who isn't. At the end of the day, some will be millionaires and top CEOs, others will be jobless and on the dole. Who's the talent? The market will decide.