Singapore Hit By Serious Skills Shortage In Accounting, Finance

davidguide — Tue, 14 Sep 2010 22:34:33 +0000

Lawrence Mijares – AHN News Contributor

Singapore, Malaysia (AHN) – Faced with a booming finance industry, Singapore is ironically suffering from a chronic shortage of skilled finance and accounting personnel despite efforts by companies to attract and retain them, according to a study.

About 81 percent of industry professionals and recruitment specialists surveyed in Australia, New Zealand, Hong Kong and Singapore say there is a major or chronic shortage of Singaporean personnel with finance and accounting skills.

The joint research study entitled “Singapore Talent and Skills in Finance & Accounting Survey 2010: Uncovering the Challenges,” was conducted in August by recruitment specialist Robert Half and the Association of Chartered Certified Accountants (ACCA).

The study found that key reasons for the shortage were the lack of development opportunities offered by organizations (60 percent) and insufficient measures by employers to retain talents (52 percent). Also exacerbating the problem was the departure of skilled people for other industries (41 percent) and the accounting sector being unattractive to young graduates (33 percent).

Though companies have tried to address the problem by upgrading the skills of existing staff, this has mostly been short-term and not enough, study respondents said, suggesting that more investment should be given to formal training and development in leadership skills, technical and accountancy qualifications and presentation skills.

Recruiting temporary or contract professionals from other countries also been difficult, the study said. Although there are flexible immigration policies and regulations, stringent procedures and quota on local and foreign staff still exist in many Singaporean companies.

Darryl Wee, country head of ACCA Singapore who conducted the research study concluded, “Alternative work arrangements, such as flexible work hours, should be integrated into talent management programmes as far as possible to cater to employees’ evolving career and personal needs. Such arrangements are however not easy to implement, and as with any human-resource initiative, success requires time and experimentation. It is important that employers communicate with their employees and respond accordingly, adjusting and adapting along the way. Once a successful programme is in place, it should be continually molded and adapted to meet the demands of the business and its employees.”

View full post on Labor Stories

Minority Women Business Grants

davidguide — Mon, 26 Jan 2009 20:01:08 +0000

Did you know that the women business grants that the government provides to women and minorities is a tremendously smart move on their part? This is a demographic that just over the past couple years has quickly become a leader in the business world. More women are starting business, and statistically women are much more successful running businesses.

The government and other organizations have a great interest in the success of your business, which is why women business grants are available. Your local community, in particular, are highly interested in your drive to start a business, and they want to help you make it grow.

When your business succeeds, your community looks more attractive to other perspective business owners, and the government provides more support to your local government. When more small businesses succeed, more jobs are created, more money is spent, and ultimately the government makes more money. That money flows right back into the economic system with better infrastructure and other projects.

Women business grants and business grants for women can be obtained from many different resources. Check with your local government first, as they have the greatest interest. Then work your way up to the state and federal government. Don’t overlook local non-profit organizations and private foundation grants as well. Non-profits may provide funding from fundraisers to help women success and build the community, and private organizations enjoy a nice tax write-off when they donate funds to your cause.

Once you find, apply and qualify to receive the funds, you’ll never have to repay the money. As long as you use the money to help start or expand your business, it’s cash in your hand to use – often at your discretion.

See what women business grants you qualify to receive to help finance your start-up or expansion projects. This is money that is being given away to millions of Americans, and you may be eligible to receive government grants for small business …

Grant News » Finance

Singapore Hit By Serious Skills Shortage In Accounting, Finance

Minority Women Business Grants