Archive by Author

Acquiring Negotiation and Persuasion Skills (By Jocelyn Ke)

Negotiation Skills

by Jeffrey Williams, Trainer & Coach

 *Check out pics from the event here*

The ability to persuade and convince other people is a highly desirable skill, sought after by employers, and also extremely useful in daily life. Interestingly, we have been negotiating all our lives – Jeffery brings up the example of how babies seek attention and care by crying, and children negotiate to get things they want from their parents. In previous workshops conducted for Polytechnic students, he had them try to invite strangers to give them money and join the workshop. The most successful participant managed to gather S$90.

We all already possess some knowledge about negotiation, so give yourself a pat on the back! The difficult part is in the execution and application of these skills. These situations happen to all of us – asking for a pay rise, bargaining for a discount, asking someone to do a favour for you, closing a sale with your clients, convincing your spouse/child/parent to do

 

Possible outcomes in a negotiation

Vinco Event - 22-Apr-15 - Negotiation Outcomes

Always aim for win-win!

 

In any negotiation, many people assume that they need a glib tongue, or that they must be the fastest speaker in the room. Quite the contrary, we actually need to have good listening skills and to ask the right questions at a suitable timing. And while we may think that all we need is ourselves at a negotiation table, we must be aware that preparation makes a difference, it is better to be over prepared than underprepared. After all, you want resolve differences and have both parties walk out in a win-win situation, so do not leave it solely to chance!

Six Negotiation Tips
1. Prepare yourself. What do you want? Which areas can you exercise flexibility in? Are there any alternative courses of action?
2. Actively listen. Focus on listening out for what the other party wants.
3. Ask questions. Clarify any doubts, and ask questions to gather sufficient information for you to make a case.
4. Identify any areas of common ground. Instead of spending time undermining each other’s stand, spend more effort listening to find out what similarities both parties have or are seeking.
5. Use positivity to build rapport. You can decide on the way you speak and the words you choose. Using phrases like “Yes, and…”, “You are right that…”, “That is true, and…”, instead of “Yes/No, but….” would greatly improve the atmosphere of any negotiation. It taps into the emotional part of us which prefers similarity.
6. Know when to walk away. Sometimes, even after repeated efforts and giving in, the negotiation still falls through. As long as you understand your position well, and have explored all options to reach consensus, giving up may not be the worst case scenario. It should however be used as the very last resort.

How to Improve Negotiation Skills
There are some other soft skills and knowledge that add to your overall ability to negotiate well – some are overlapping and/or closely related:
Interpersonal skills, verbal communication (talking/speaking well), listening, problem solving, decision making, building rapport, emotional intelligence, remaining calm and composed, influencing others, body language, handling objections, assertiveness, reciprocity, and desire to reach a mutually beneficial outcome, and more.

Some simple rules to keep in mind:
(1) Negotiation skills can be learned and refined
(2) Everything is negotiable
(3) Negotiations are never final

Keep on learning! Remember, the difficult part is not learning about negotiation techniques and skills – it is using them effectively to get the results you want. So practice, keep on reviewing your performance, and always look out for good role models to emulate!

 

Written by

Jocelyn Ke (www.jocelynke.com)

 

 

Paths To Financial Freedom (By Jocelyn Ke)

Paths to Financial Freedom

What is capital mastery, and social trading?

18 April 2015, Vinco Game Changers

*Check out event images here*

 

Many people would feel that they are using their monies in a good way. Our cash flows can be pretty obvious: our salary, investments, bills, debts and expenses. In the long run, will our single incomes and investments still be sufficient for us? We need to think about how we can make our money work harder and smarter for us, not continuously work harder for more money. Whether you are a business owner or not, how often does cash flow problems create obstacles for you in your personal and business life? Rachel highlights one method you can free up cash right now in your life, while Marcus introduces us to an easy way to start investing in Forex.

 

Speaker 1: Rachel Chong from Business Mentors

Unlock Capital Mastery

Have you ever thought about your insurance plans and premiums more carefully? The percentage of people insured with at least one plan in Singapore is very high, and the usual way insurance is bought is through friends or a recommended insurance agent/financial planner.
One quick question: How do you know if you are getting the best deal for your money? The multitude of plans, prices and coverage baffle most of us – even if we read through the entire Terms & Conditions set out by the insurers, we might not be able to fully make sense of all the data, or effectively compare it to another plan.

According to Rachel, up to 82% of us here are overpaying for insurance. The differences in pricing from one insurer to another can be absurdly high – up to 70%! Here are the three myths that Rachel wants to clarify:
(1) That all insurance plans are similarly priced – No
(2) Policies that are linked to investments and payouts are the best of both worlds – Not really
(3) Just having life insurance is enough for retirement – No

Rachel brought up the story of a new business owner who needed cash, and after reviewing her existing insurance plans, managed to ‘unlock’ cash of over $30,000 while increasing her coverage.

There are some other things that Rachel wants us to take note of, including conflicting goals. A lot of times, due to the large amounts of information that the financial planners might not know, or will not be able to tell you, your personal financial goals may not be met in the best possible way. We assume that if we tell them what we want to achieve, then they are able to do it. Unfortunately, not every financial planner is equal – getting second opinions may save you a lot of money.

What Rachel can do for you, is to help you assess your current insurance portfolio, to determine if there are ways to increase your coverage while lowering the amount you pay.
Find out more about Business Mentors: http://www.businessmentors.com.sg

 

Speaker 2: Marcus Lau from Riovest Pte Ltd

Social Trading in Singapore

Have you always wanted to try out investing your own money, but have no idea where to start? Marcus Lau, seasoned investor and trader, thinks that social trading is one place you can start. With technology and the internet, forex trading is highly accessible to everyone, anywhere in the world.

What is Social Trading?
In very simple terms, a social trading platform is likely to be a web application that allows everyday investors to trade online in real-time, but with an added ‘social’ element. After setting up an account, you can befriend other traders online. It is a platform where data is viewable by all users, and past track records is available for scrutiny. The interesting part about this, is that once you spot a trader that is doing well or making consistent profits – you can choose to copy their transactions and trades with just a click of a button. A lot of traditional trading functions are now fully automated; you can set a limit to your gains and losses for a particular trade, and safely to to bed at night.

What are the benefits of Social Trading?
There are very low entry requirements, and you can decide to stop anytime. Most recreational traders consistently lose money, and Marcus puts the percentage of consistent money makers at just a mere 5%. This would probably result in a long-term loss rather than bringing you closer to your retirement goals.
Trading itself can be very complex if you delve deeper into its mechanics – but with the rise of social trading, there is no need for you to learn Technical Analysis to trade anymore, because you can choose to tap into the knowledge of other master traders. On the Riovest platform, you will be able to earn commission (no cap on earnings), simply by introducing your friends to join you. Their subsequent transactions would earn you some money, with no expiry date at all. Marcus pointed out that this is a powerful way of building your financial security.

People without experience, knowledge, or time can benefit from the existence of master traders on social trading platforms. While no investments are 100% risk-free, the beauty about the open-ness on the platform will show one thing – data does not lie. People would naturally follow and copy the better traders. Riovest, along with Brightwin Securities, are curating a ‘Master Trader Community’, a group of leading traders with proven track records. They are available to give you advice on trading, and they meet up once a month. Riovest also holds frequent training and educational workshops on financial education.

If you want to try your hand out at forex trading, talk to master traders, and ask more questions – reach out to Riovest: http://riovest.com

To attend an upcoming free preview session: http://riovest.com/events/ (look out for social trading previews!)

 

Written by

Jocelyn Ke (www.jocelynke.com)

Crowdfunding Companies (By Jocelyn Ke)

Vinco Game Changers

Speaker: Lawrence Yong (MoolahSense)

4 February 2015

Crowdfunding Companies

*Check out event images here*

Lawrence is the founder of MoolahSense, Singapore’s only fully compliant peer-to-peer (P2P) lending platform. There is a gap between SMEs and small investors, and crowdfunding functions like a bridge between these two underserved groups in society. MoolahSense is a platform where individuals can lend directly to businesses, for a fixed return. Crowdfunding has achieved phenomenal growth and rapid acceptance around the world thus far.

Addressing Market Failures

For SMEs in Singapore, the cost of borrowing (unsecured loans) is ~5-6 times more expensive than it would be for bigger companies. It is a global problem that SMEs are only responsible for >20% of loans from the financial sector. In Singapore, SMEs make up 99% of all enterprises locally. Small, everyday investors seeking better return rates have little options, as most investment opportunities with fixed returns would require at least $100k to start with. MoolahSense is a debt-based crowdfunding platform, where businesses can quickly secure funds at potentially attractive rates and involve community engagement. For investors, with just S$1000, you could diversify your portfolio, earn better interest rates, and support local businesses at the same time.

How Does It Work?

There are 3 main steps in the entire process for businesses:

  1. Curate – Businesses will be accessed on their past revenues, willingness and ability to repay the funds
  2. Infrastructure – Once approved, MoolahSense will provide the transaction platform, legal documents and takes care of account management
  3. Control & Monitor – Businesses who are crowdfunded only write one cheque to MoolahSense, who will do the control, monitoring and subsequent splitting of investor’s funds

MoolahSense Model

A key feature of the MoolahSense platform includes the allocation and rate setting feature. The borrowing rates are decided by auction; investors who place a bid will set their own expected interest rates, and overall, the offers with the lowest rates will be selected. For every successful campaign, which usually runs for a year, the borrower (business owner) will only pay a flat 3% fee to MoolahSense.

Campaigns

MoolahSense’s first offer was Smaths Consulting, which raised S$100,000 in 20 days at a final rate of 9.9% interest. In the end, it was oversubscribed, with 44 individual investors who placed a bid (but only the offers of 19 people were selected). Ian Gan, Smaths CEO, expressed pleasant surprise from the PR that the fundraising has garnered, with The Straits Times, Business Times and Channel News Asia, each writing a feature on it.

What’s Next?

Moolah 9 is an introductory incentive for businesses in the following 9 sectors: education, retail, F&B, lifestyle & wellness, business services, ICT, engineering & contracting, manufacturing, trading & logistics. This promotion runs till 31st March 2015 – find out more here. You can connect with MoolahSense on Facebook for more updates on future campaigns.

 

Question and Answer Session

1. What will happen if the borrower (business) cannot fulfil their repayments?

MoolahSense has a 3-stage recovery process: at the first stage, there will be a penalty charge (late fees), and arrears will accrue to investors at 24% p.a. Following that, professional debt collectors will be called in to recover funds. Failing all methods, the third stage would likely result in legal action or involve restructuring. These extra costs will be borne by investors, as MoolahSense is not a party to the contract, but will assume the roles of monitoring, controlling and managing these transactions.

2. Is MoolahSense’s revenue model so simple?

Yes, there is only the 3% fee on total approved funds to be paid by the borrower. However, there is a lot of consulting involved from our side, which is still complimentary for the time being.

3. Can startups participate to borrow from this platform?

Most startups have a long gestation period, and thus may not be suitable for debt-based crowdfunding (depending on what stage they are at). Most importantly, the business must demonstrate capability to repay their investors (proven track record). They might consider exploring rewards-based or equity-based crowdfunding though.

4. How do you know ascertain the borrower’s future performance?

MoolahSense’s crowdfunding campaigns only run for a year (12 months), with immediate monthly repayments that include principal and interest. As mentioned, the rates are set by an auction process. There is no guarantee to future performance, but our curation process when we access borrowers are stringent, and we have our recovery processes in place too.

 

Interested in how you can start investing in local businesses too? Or would you like to list your business on MoolahSense to get funding? Do check out their detailed, comprehensive FAQ page on their website.

Written by

Jocelyn Ke (www.jocelynke.com)

Power Trends Of The Future (By Jocelyn Ke)

Vinco Game Changers
Speaker: Mohan Belani

4 February 2015

Power Trends of the Future

*Check out event images here*

Mohan Belani is in a good position to share about upcoming trends. The co-founder of e27.co is also in charge of running Echelon, Asia’s premiere technology and business conference. Here is his take on the 9 hottest trends in Asia (and around the world):

1. Wearables

Going beyond fitness wearables, there are now much more well designed products with real world applications in health care and beyond. The wearables industry is only expected to become more mainstream, hitting $8 billion in 2018. There are jackets with solar panels which can charge your smart phones; and a glowing orb with an accompanying clip for your pillow, which analyses and helps you make your sleep even better. Don’t forget smart glasses too, they would likely make a bigger comeback in future.

2.  E-Commerce

Although not a new creation, e-commerce has huge numbers behind it. In the US, where the market is more mature, e-commerce sales broke the US$1 trillion mark a few years back in 2012. However, Asia-Pacific is where the total projected e-commerce sales is expected to be the largest (2012-2017). Asian countries with the biggest markets are China, India and Indonesia (surprise!) for now, but the absence of the other emerging markets are not to be forgotten. A region of rising disposable income and greater internet penetration, there is a lot of untapped potential for online retailers as more people in APAC go online.

3. Mobile Consumption

Just in Asia-Pacific, out of a population of ~3.882 billion people, there are 1.255 billion users of internet on the mobile phone. Compared to the US, there is ample room for growth. Ads on phone apps have now become the most popular way in which we are exposed to advertisements (48%), followed closely by search engines (40%). Also, of all mobile phone users, up to 68% have spent money through their phones, which makes it very attractive to businesses to tap on this market.

4. Mobile Messaging

There are many choices for consumers: Line, WeChat, WhatsApp, Kik, Viber and more, but these apps seem to be more popular in some countries but not others. When Facebook bought over WhatsApp for ~$19 billion recently, the war for users just got hotter. In terms of innovation, the future seems to gravitate towards a migration of social networks to contact lists, like what Humin does.

5. Internet of Things (IoT)

Also known as “the connected life”, it is the future where every device is connected to the internet, and is able to communicate with other devices too. Increasing adaptation of IoT across more different products will also bring about the ability of the devices to modify itself to situations. SmartThings can outfit your entire house with devices that would recognise your routines and preferences, from lights to locks and motion sensors.

6. 3D Printing

Mohan believes that 3D printing will take Asia by storm. The constant technological advances in this field will only open more possibilities of what 3D printing can accomplish. There have been houses built using parts from 3D printers, and makeup whose exact shade and color can be printed from home, using a special printer called Mink. Amazon has also begun listing 3D printed items for sale, as a small start. When large companies start to take notice of something, it means that the industry is very likely to pick up or change.

7. Virtual Reality 2.0

There has been more interest in recent years about virtual reality (VR). The Oculus Rift will finally be offered to consumers sometime this year in 2015, bringing VR to many more people than before. The head-mounted virtual reality display has mainly attracted interest from the gaming industry and gamers themselves. VR also has other applications in surgery, flight stimulation, travel and even for very expensive property developers who outfit the houses with virtual furniture.

8. Beacon Technology

This technology is not new, but the recent meshing of beacons and smartphones have sprouted many new applications across industries. Beacons are low-cost and low-energy pieces of hardware which can detect and send prompts to smartphones, when they are in physical proximity. Retailers have begun to utilise this technology, sending customers offers and targeted information as they walk around the store. Virgin Atlantic has beacons to recognise its customers during check-in. Beacons merges the online/offline experience, and will change the way businesses interact with customers indoors.

9. Drones

Drones are also known as Unmanned aerial vehicles (UAVS), and are either controlled by a person or have pre-set programmes. They are fast, efficient and consume little energy. Coca Cola used drones to drop off cans of cold cola to foreign construction workers (a tie in with the Singapore Kindness Movement), while Amazon and Alibaba are testing the use of drones to deliver parcels. Unlike the USA, there is currently not much regulations on how drones can be used in many parts of Asia.

Ending off the session, Mohan posed a rhetoric question: How can we use trends to offer real world value, and create a better world out of it? At least we are all aware of the biggest technological trends that is happening around us right now.

Question and Answer Session

On Robotics: Robots are fascinating, but their cost, size, weight and power consumption pose some issues. They are very hot in Japan. They are very useful when fused with other technologies (for specific applications), for example, cars.

On Crowdfunding: It is a huge game changer for fund raising and backing. It gives consumers access to products before they are officially launched. When products or ideas receive a lot of crowdfunding, it does two things: first being validation and market acceptance. The second is the reduced risk for investors, who are also more willing to fund companies doing well with crowdfunding.

On Marketplaces: A platform is not the same as a marketplace (Uber, Airbnb). Marketplaces are good for services that can be scaled on a global level. As the size of the audience goes up though, the cost goes down and becomes commoditised. Therefore marketplaces have to evolve, like what Uber did when it branched out into deliveries. The steps are (1) Build core (2) Build audience (3) Add more value added services

On e27’s Next Big Thing: There are no plans to offer new services for now, but instead to focus on a wider audience and entering new markets (Australia, Myanmmar, Indonesia). The Echelon conference is one of our main events, as well as an upcoming invite-only investment opportunity.

On Innovations in Education: There will be more use of apps to drive children to consume information. The real innovation in education will be the tracking, monitoring and automated dispensing of tailored content for the child’s progress. Learning will suit the learner’s abilities, content will evolve by itself, and teachers will have access to dashboards full of information. Analytics will be available and children’s abilities across countries can also be compared. This would be when education has transformed.

 

Written by

Jocelyn Ke (www.jocelynke.com)

 

The Power of NLP (By Jocelyn Ke)

Vinco Game Changers Series

Speaker: Vernon Lim

28 January 2015

The Power of NLP

Neuro-linguistic Programming in Your Life

*For pictures of the event, click here*

Many of us have heard of Neuro-linguistic Programming (NLP), but have not applied it or perhaps do not understand it very much. Vernon Lim gave us a quick introduction to NLP by sharing parts of his life throughout the evening, seamlessly applying his knowledge of NLP to persuade and influence other people using storytelling.

Vernon had very interesting life stories to tell, one of which is about his first ever successful pitch. While transiting to secondary school, his dad asked him to select the Normal (academic) stream. Not wanting to do an extra year of secondary school, young Vernon pitched the idea of an entire year of monetary savings of school fees, books and allowance if he went to the Express stream. That appealed straight to his dad’s needs, and got Vernon what he wanted too.

Another pivotal moment in Vernon’s life was while working at Mustafa Centre as a struggling student.  He took on the task of writing hundreds of letters by hand to appeal against lesser working hours (which led to lesser wages) on behalf of his colleagues who could not write in English. From this, he determined that education while living in Singapore was a necessity, and he pulled his socks up in school. He later went on to graduate from Nanyang Technological University (NTU) in Sociology.

Due to a lack of time to complete the entire intended talk, the learning outcomes of today is quickly summarised here:

  • NLP is a neutral tool which can be used in many situations besides influencing others
  • To convince someone to buy something from you, sell to their needs instead of your own
  • Whatever you find difficult to learn, you will find it easy to teach
  • In the eyes of NLP, everyone is an emotional (versus logical) being
  • Logic is used only to justify our emotional feelings
  • Women have more neuro connectors between the limbic system and the neocortex (where language is processed) than men, so most men are less emotionally developed in comparison
  • The Locus Control Framework is the extent that individuals believe that they can or cannot control events happening to them: cause/effect, solution/blame
  • Our brain is designed to not be able to process negative information
  • The Three Filters in our subconscious mind: Generalisation, Distortion and Deletion
  • Influence can be put down to the passive activation of the three filters in the mind using Vernon’s Rapid Rapport System™
  • The four types of knowledge

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http://www.doceo.co.uk/tools/knowing.htm

As mentioned earlier, people are more emotional than they are logical. Is there a way for us to communicate and appeal to our limbic brains (emotional) more directly when attempting to influence people? Vernon says that the answer lies within using the 5 senses (hearing, sight, taste, touch & smell) or simply by storytelling. During the entire duration of him relating and sharing his stories, a rather interesting point came up – no one stopped to question him midway if his stories were real. That was a simple but effective demonstration of how compelling storytelling can bypass our mental filters.

Today, as he stood in front of a group of Vinco members and guests, Vernon thanked his dad for giving him the privilege of hard work. All of his life experiences had shaped him and taught him valuable life lessons, and he hopes that his sharing will also serve to teach us something new.

 

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To find out more about Neuro-linguistic Progamming, check out Tipping the Pivots by Vernon Lim. It is available through his website: http://www.tippingthepivots.com

This is a easy-to-read practical book on the application of Neuro-linguistic Programming to achieve personal & professional success.

Vernon Lim is a trainer at Acme Achievers LLP and the Principle Consultant for Solutions Based implementation Company for SMEs and MNCs.

 

Written by: Jocelyn Ke, Entrepreneur

www.jocelynke.com

The Changing Talent Landscape And What It Means For You (By Jocelyn)

Vinco Game Changers Education

Success Mentor Series

Speaker: Su-Yen Wong

21 January 2015

 

 

The Changing Talent Landscape And What It Means For You

*Click here to see more images of the event!*

In the dynamic world we are living in right now, everyone is feeling the effects of Globalisation coupled with the rapid rate of advances in technology. Having a wealth of experience solving companies’ problems for the past twenty years, Su-Yen Wong understands that while people are now hyperconnected (thanks to the internet), there is still a mismatch of jobs and talent around the globe. From the viewpoints of both employee and employer, she shares with us the changing talent landscape, and ways to evolve and keep up with the game.

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How Has the World Changed?

Gone are the years where people held jobs in the same company for 20, 30 or 40 years. What used to be a business lifecycle of 20 to 100 years, following a gradual curve of rise and decline, has been shockingly compressed to an average of 5 to 7 years for most companies. Examples of Kodak and Nokia can teach us about the need to evolve.

Kodak developed the first ever digital camera in 1975, but today, almost all of Eastman Kodak has disappeared from the radar. Another company with a heritage of over a 100 years before its decline is Nokia. Our generation knows Nokia for its mobile phones – but now, phones have come a long way since, and Nokia has disappeared quietly.

What was one of the reasons that these two companies failed, even with their long histories and successes right up to the early 2000s? It was their inability to evolve to the rapidly changing business landscape.
How are Employees Affected?

Su-Yen brought to our attention the advent of jobs and positions that did not or barely existed 5 years ago: Social media interns, iOS developers, Zumba instructors, data scientists and the beach body instructor (read more here). The future will only be more uncertain – do you look forward to body part makers, time brokers, avatar managers and vertical farmers?

Technology is advancing on so many fronts at breakneck speed, and the truth is that our schools and work force cannot catch up as quickly. Increasingly, buzzwords like ‘alignment’ and ‘fit’ are being used. In big tech companies like Twitter or Facebook, a college degree does not guarantee you employment. Employees of the new future would have to stretch themselves and go beyond this traditional way of looking at employability in order to avoid structural unemployment.

 

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Su-Yen talked about these three competencies:

Besides being qualified or having the necessary skills to perform the job, soft skills such as creativity, resilience, flexibility, collaboration, communication skills all add to your value. When companies look at employees in this holistic manner (all three) versus just one or two aspects, they will be able to make better promoting or hiring decisions. It is as important to hire for technical capabilities as well as fit within the team and other soft skills. Companies must be clear on the competencies they are seeking to begin with!

 

Attracting the Right People

An employee value proposition (EVP) is what the company offers in terms of rewards and benefits in exchange for the employees’ skills, capabilities and experiences (Minchington ,2005). Su-Yen pointed out four trends that are gaining more ground in companies: Employee health and wellness, alternate talent pools, workplace flexibility and interest in development. The Mercer 2011 survey shows an increase in perks and fringe benefits across surveyed companies; increasingly, companies are also offering previously unheard of (and fancy) lifestyle benefits in a bid to attract talent.

Su-Yen advises SMEs and startups to think creatively if they cannot afford to pay top dollar for talent. Perhaps give employees the freedom to choose their fringe benefits, allow flexible working arrangements and/or offer training and upgrading opportunities? What you can offer your staff beyond the monetary compensation will make a difference to an ever-evolving workforce who are seeking more than just a monthly salary.

When your EVP matches what the employee is seeking, you can expect engagement and commitment from the employee, resulting in a very desirable situation for both parties.

 

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What Else Can Companies Do?

In Singapore, a third (~34%) of our labour pool is untapped, either due to disabilities, retirement or are unemployed. About 700,000 of these people are below 60, and this alternate talent pool is a good place to look for employees. Many of these people cannot or do not plan to join the workforce, but there is a percentage who want to work but cannot find suitable work arrangements (e.g. housewives). If some of your company’s roles or tasks can be fulfilled from home, consider allowing flexible work arrangements.

On top of the new lifestyle benefits that you can offer within your budget, career advancement opportunities and helping employees to align their strengths to the passions will all lead to the retention of staff. Employees with the right core skill set, which includes most training and experiences beyond basic technical capabilities, will be able to grow with your company in the long-term.

Su-Yen mentioned these two books: The World is Flat, in which Thomas L. Friedman explains and demystifies Globalisation and how to adapt to it; and In Search of Excellence: Lessons from America’s Best Run Companies by Tom Peters and Robert H. Waterman Jr. – The book has drawn lessons from the leading 43 American companies in the 1980s, and for years it was a widely read and well-received title. Thirty years on, the 8 principles have stood the test of time, and will continue to guide people in management roles toward excellence.
Question and Answer Session by Su-Yen Wong

(1) Hiring vs outsourcing staff?

Traditional hiring will still be the main staffing method, as permanent staff are still required in companies. There will likely be an increase in more free agents being employed, but this requires structure in order to be effective.

(2) Should the accountability of talent management shift to leaders (and companies)?

It works both ways. Some people choose not to adapt! But the best situation is where both employee and employer evolve together. Employers can do better by hiring based on fit and alignment.
(3) Will the sharing of staff between a few companies work well?

Job sharing will become more common, but it will likely be individuals working on a project until it is completed before taking on a new project – not one person working on alternate days at two companies, doing the same role. Also, there must be employment contracts in place to protect both parties’ interests.

(4) Aptitude tests – should we alter our answers to suit the job position?

Employee evaluation methods like the DISC test is usually never used in isolation, but it does provide information if the candidate is a good fit for the job and the culture. It is not foolproof to assume what the company and the hiring manager is looking for. It is better to find a job and company that is aligned to what you are looking for personally.

(5) How can employees help hiring managers?

Unfortunately, most hiring is done based on “feel” and the process may not be structured enough. As an individual, you should ask questions! Look out on the company’s website, job post and any news articles to help you get clues on what behavioural aspects are important. More importantly, know what is important to you (and what you want); you do not want to end up in a job where you don’t fit in.

Did you enjoy the talk by Su-Yen (Chairman of Marsh and McLennan Singapore)? We certainly hope that it has given you insights on how to be on top of the game in a changing talent landscape. Vinco Global has an exciting lineup of inspiring speakers and opportunities to meet new people. Check out our latest lineup of distinguished speakers and events!

 

Written by

Jocelyn Ke, Entrepreneur

http://www.jocelynke.com/

The Changing Talent Landscape And What It Means For You (By Shawn)

*Click here to see more images of the event!*

 

My articles will focus more on opinions and some learning for the events, rather than detailed facts and lessons from the speaker. If you like to know more what our main soeaker Su-Yen shared, feel free to check out our Vinco Member Jocelyn’s post here.

This event marks a great start to the VGCE series of 2015. In 2014, we built a pretty good platform with an intake of 74 members. This year, we have switch our focus from building the platform to building the community

 

There’s a big reason for this, which I’ll cover in another post.

This session was great for many reasons, with much credit given to our 2 wonderful speakers and audience of the day.

Su-Yen is a really charming lady who amazes me with her determination to give nothing but her best. She tailored her topic well do the demographics of the event, and is so far one of the most giving speakers yet. She was not shy about sharing information and answered our many questions with gusto. She even stayed on for an hour after the event to talk to our members and share her insights, tailored to each unique circumstance. Totally awesome.

Our first Dream Spotlight of 2015 (and the lifetime of VGCE) is none other than Shahul. I met him mid last year and was impressed by his immense curiosity and desire to make a difference. He shared with me about his dreams of building a sustainable green world, and I was simply drawn into his passion. Unlike many, this is a guy whose actions resonate with his words. As a true tinkerer, he embarked on a project to create a sustainable watering system for plants. I knew I had to get him to share about his dreams, and true enoguh he did not disappoint! Shahul did really well and I sincerely felt that he lived up to the Dream Spotlight motto of ‘Inspire and be inspired’.
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Jocelyn has also stepped up to volunteer as a blogger for Vinco events. So for all who have not attended the events and yet want to know what was covered, you have her to thank! She is a great writer with an even greater heart. I read her post and it’s incredibly detailed so it’ll be useful for those of you who wish to study it. Still, there’s no better way to learn and get more opportunities than to present. Written words are not able to capture the dynamics of the event in its entirety.
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I really like the enthusiastic and warm environment brought forth by the audience.  They’re very supportive, with many linking up connections and advice to our Dream Spotlight Speaker Shahul. People like Chris came in early as well to help set up the space while about 7 members stayed back to clear up. Truly appreciate the support given and I know that the vinco community will be an exceptional one as we continue to build the culture and calibre of our members. In fact, I do know that several of the members are meeting up over the week to take their discussions furthur.
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To our Collaborative Dreams,

Shawn Yeo, Culture Builder 

 

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Nicola Castelnuovo (Founder, Crowdonomic) – Crowdfunding and Crowdsourcing

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An experiential ‘workshop’ rather than a talk, Nicola Castelnuovo, Founder of Crowdonomic, gives us a good overview of crowdfunding around the world and the region.

He touched upon the nuances of different platforms and brought up an excellent case-study for us to work on.

If you’re looking for expert advice on how to raise funds, particularly within the region, Nicola is the person to look for!

Check out our event here.

Aldric Chang (Founder, MediaFreaks) – Creative Entrepreneurship

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Sincere and down-to-earth, Aldric Chang, Founder of MediaFreaks and Swagsoft, shares his struggles and triumphant moments in entrepreneurship.

He gives his opinion on what he feels are the most important factors in entrepreneurship, and dispenses great advice to create a strong foundation for all budding entrepreneurs!

It was an excellent session and we’ll love to hear more from him again!

Check out our event pictures here.

Luv Khemani (Founder, FYB-SG) – Investments, Business and Bitcoin

pic editToday we met up with Luv Khemani, Founder of FYB-SG, the 1st Bitcoin Exchange in Singapore. Bitcoin is not a easy thing to comprehend.

But Luv managed to impress us with his simple yet comprehensive explanation on the technology, implications and possibilities of Bitcoin in our 21st Century Economy. 

With an insightful Q&A with questions flying, Luv provided us with concrete advice on Bitcoin and moving forward.

Take a look at our pictures here!