"Not enough Singaporeans rising to top ranks within large firms: Think-tank - CNA 27 February 2015
SINGAPORE: Not enough Singaporeans are rising to top ranks within large corporations, according to the Human Capital Leadership Institute. Thus, it has welcomed the Government's move to groom business leaders to take on key positions.
Under Budget 2015 measures announced on Monday (Feb 23), the Government plans to work with firms to develop a pipeline of Singaporean corporate talent.
Budget 2015's SkillsFuture Leadership Development Initiative will look at preparing more locals for top jobs such as chief executive, and financial and operations officers, or what is known as the "C-suite".
There will be funding to support increased collaboration with companies, to develop and stretch high-potential talent.
Out of the 120-odd big corporations the Human Capital Leadership Institute deals with, around half are western multinationals. Out of these, the think-tank estimates that only about a quarter of companies have Singaporeans in fairly senior management roles.
The Institute said that it will be advantageous to have local corporate leaders, who understand the Asian context, to helm global firms.
The Institute has suggested that state funding can be channelled to incentivise multinationals to specially create leadership posts for Singaporeans to be exposed to heavier responsibilities.
SkillsFuture efforts can also be geared towards creating a cadre of top Singaporean business leaders who can mentor the next generation of corporate heads. One key area would be to expose potential leaders to overseas postings, in order to test their mettle in handling unfamiliar situations."
Is this a JOKE??
Lessons for me are:
1. I was neutral on SkillsFuture initiatives with the Credit and then the other thingy like Fellowship and Leadership, etc when it was announced since having SOME money for learning and development is almost a nice-to-have for individual;
2. BUT this THINK TANK suggesting GOVERNMENT funding be provided to so-called groom Local Talents for C-suite jobs of not just Singapore but regional and even global roles is ABSURB!! UNLESS we are a closed and run as a dictatorial state!! For heaven sake, Singapore is an open economy and an open city for the longest time welcoming global companies to set up shops here and run their businesses. SURELY, the Companies SHOULD BE LEFT to decide HOW they want to plan their leadership development and succession plan! SURELY they know what is GOOD for their businesses if they want to grown in each country and region that their companies operate in! NO?;
3. C-suite folks come with big salaries, which sometimes are OVER-INFLATED, and big responsibilities. There is ABSOLUTELY NO REASON to spend Taxpayers' money on these SMALL group of people! Local or otherwise!!
In fact, we HAD local talents helming Asia Pacific and Greater China, including Japan, as far back as 20 years ago with names like James Wong of IBM, Koh Boon Hwee of HP, etc, etc. Not forgetting Dr Richard Hu from Shell who was tapped as Finance Minister and 'Finance-Minister-Mentor for current PM Lee' then. So, why this CALL for government money to develop the C-suite folks????
If we want to consider this option, why not look at our GLC (including GIC), TLC (including Temasek) and NTUC-Link Companies and see HOW MANY LOCALs are CEO and other C-suite folks?
Taxpayers' money CANNOT be used to benefit a small group of people WHO CAN easily afford to UPGRADE themselves with their 'near-C-suite compensation' packages!!
Sorry to end with this word: 'Damned'! Which kind of THINK TANK is this??
SINGAPORE: Not enough Singaporeans are rising to top ranks within large corporations, according to the Human Capital Leadership Institute. Thus, it has welcomed the Government's move to groom business leaders to take on key positions.
Under Budget 2015 measures announced on Monday (Feb 23), the Government plans to work with firms to develop a pipeline of Singaporean corporate talent.
Budget 2015's SkillsFuture Leadership Development Initiative will look at preparing more locals for top jobs such as chief executive, and financial and operations officers, or what is known as the "C-suite".
There will be funding to support increased collaboration with companies, to develop and stretch high-potential talent.
Out of the 120-odd big corporations the Human Capital Leadership Institute deals with, around half are western multinationals. Out of these, the think-tank estimates that only about a quarter of companies have Singaporeans in fairly senior management roles.
The Institute said that it will be advantageous to have local corporate leaders, who understand the Asian context, to helm global firms.
The Institute has suggested that state funding can be channelled to incentivise multinationals to specially create leadership posts for Singaporeans to be exposed to heavier responsibilities.
SkillsFuture efforts can also be geared towards creating a cadre of top Singaporean business leaders who can mentor the next generation of corporate heads. One key area would be to expose potential leaders to overseas postings, in order to test their mettle in handling unfamiliar situations."
Is this a JOKE??
Lessons for me are:
1. I was neutral on SkillsFuture initiatives with the Credit and then the other thingy like Fellowship and Leadership, etc when it was announced since having SOME money for learning and development is almost a nice-to-have for individual;
2. BUT this THINK TANK suggesting GOVERNMENT funding be provided to so-called groom Local Talents for C-suite jobs of not just Singapore but regional and even global roles is ABSURB!! UNLESS we are a closed and run as a dictatorial state!! For heaven sake, Singapore is an open economy and an open city for the longest time welcoming global companies to set up shops here and run their businesses. SURELY, the Companies SHOULD BE LEFT to decide HOW they want to plan their leadership development and succession plan! SURELY they know what is GOOD for their businesses if they want to grown in each country and region that their companies operate in! NO?;
3. C-suite folks come with big salaries, which sometimes are OVER-INFLATED, and big responsibilities. There is ABSOLUTELY NO REASON to spend Taxpayers' money on these SMALL group of people! Local or otherwise!!
In fact, we HAD local talents helming Asia Pacific and Greater China, including Japan, as far back as 20 years ago with names like James Wong of IBM, Koh Boon Hwee of HP, etc, etc. Not forgetting Dr Richard Hu from Shell who was tapped as Finance Minister and 'Finance-Minister-Mentor for current PM Lee' then. So, why this CALL for government money to develop the C-suite folks????
If we want to consider this option, why not look at our GLC (including GIC), TLC (including Temasek) and NTUC-Link Companies and see HOW MANY LOCALs are CEO and other C-suite folks?
Taxpayers' money CANNOT be used to benefit a small group of people WHO CAN easily afford to UPGRADE themselves with their 'near-C-suite compensation' packages!!
Sorry to end with this word: 'Damned'! Which kind of THINK TANK is this??
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