3 Strategic Benefits of Cloud Recruiting Software

by Annabella Poon

The global war for Talent is more intense than ever before.  For Human Resources professionals today, the challenge of attracting, identifying and engaging Talent is increasingly difficult. Organizations are stepping up their recruiting game and leveraging on e-recruitment tools to gain a competitive edge.

Cloud-based recruiting software has increasingly become the go-to deployment model of organizations that need to deploy a system quickly and with minimal hassle. With Cloud solutions, there is no need to install or manage the application on local servers or computers, thus accelerating time to value for any organization looking to invest in such applications. According to Gartner, it is predicted that by 2015, end-user spending on Cloud services will be more than $180 billion. Remarkably, 2014 is also the first year that the majority of workloads will be on the Cloud, with 51% operating in the Cloud versus 49% in the traditional IT space.

Besides its fuss-free, quick-to-implement approach, most Cloud recruiting software boasts a multitude of useful functionality that strengthens the organization’s Talent attraction and recruitment strategy. If you’re straddling the line between investing in one and rejecting the ‘Cloud’, here’s a quick list of the top 3 strategic advantages of Cloud recruiting software.

Move from Admin to Automation

Your regular hiring process means that you run into boring administrative tasks hindering the recruiting process from moving forward. Recruiters are trapped organizing candidate data, expending precious time posting jobs to multiple job boards, collecting and sorting out applications. Recruiting is a race and in the time you take to select your candidate and respond, you risk losing a potential candidate to your competitor.

Applicant tracking systems (ATS) eliminate administrative duties, building an organized and easily accessible candidate database for you. Added search functionalities in the system allows you to filter according to criteria and match candidates to the role needed. Recruiting software reduce the risk of recruitment mishaps like losing a key resume, saving you time, making it easier for you, and a better candidate experience for your applicants.

Frequent Updates = Ahead of the Game

Cloud-based, SaaS solutions are built to ensure that that users are running on the latest version of the software. Updates containing new features and enhancements are deployed multiple times per year, so users are assured that they are always up-to-date with the latest e-recruitment tools.

For example, every 8-10 weeks, HRBoss release new features or software updates in order to help users optimize their hiring process. Our clients are also given the option to ‘turn on’ the update when the new release is fully ready.

Cost-effectiveness

With Cloud applications, you won’t need an IT team or on-site server. Similar to the log-in process for Facebook, Google and LinkedIn online, recruiting in the Cloud means that all you need is just a computer (or mobile device) and internet granting you all hour access the recruiting system.

Cloud software also distinguishes itself from the traditional ‘licensed’ software as they typically work on a subscription model (Subscription-as-a-Service or SaaS) based on the number of users. This translates into cost-savings for organizations as the variable pricing model means that they only pay for what they need. Cloud- based recruiting software allow businesses to scale and meet the changing needs without having to worry about investing in any extra hardware if they wish to increase the number of users in future.

Indeed, with these benefits it’s no surprise why many businesses are already depending on Cloud technology to dial-up their talent acquisition strategy. A perfect combination of agility, scalability and cost-effectiveness, embracing a recruitment software in the Cloud could be the difference between making an average and a stellar hire for your organization.

Ready to take control of your recruiting process and increase your ROI with Asia’s #1 Cloud recruiting software? Speak to us, we’d love to show you how.

The Recruiting Trends Forecast: Asia, 2014

Article by Annabella Poon

The top 6 recruiting trends for Asia in 2014. In no particular order, here they come:

1.      Use of Big Data Metrics for Recruiting (Talent Analytics)

Brad Pitt stars in Moneyball, the film about how data revolutionized sports recruiting and transformed a team of underestimated baseball players into superstar athletes. In the so-called ‘War for Talent’, those who make data-supported decisions instead of relying on gut-feel will take the lead in 2014. We will see a tangible shift away from recruiting decisions based on  ‘intuition’, with the smartest recruiters looking at less obvious but more accurate indicators of a candidate’s true value.

For instance, US predictive analytics company Evolv discovered that applicants who fill out online job applications with third-party browsers like Firefox or Chrome perform better and change jobs less frequently than people who use Internet Explorer. Apparently, the significance of a candidate independently choosing to download a browser that has not been pre-installed on their computer is indicative of a higher IQ and sharper sense of initiative. This is just one example of how analysis of candidate behaviors can help recruiters make the right hires- and move away from guesswork towards data-driven decision making.

Inject some Moneyball success into your own recruiting technique by employing the right tools with real-time & predictive metrics for 2014.

2.      Compliance Matters

With the availability of Big Data analytics, there are rising concerns about how personal data is being used and managed by organisations across Asia. Recruitment processes need to be evaluated to ensure that basic data security policies are implemented and that personal data used for recruitment is not abused. Following the introduction of data protection regulations in Japan and Singapore, data privacy legislations are expected to be picked up by the rest of Asia in 2014.

According to Bernie Schiemer, CEO & founder of HRBoss, “There’s a lot of buzz in Singapore right now about the recently announced data privacy act and, controversially, 10 recruitment firms have already had their licenses revoked for putting non-compliant adverts on the internet…there are also a lot of organisations still using spreadsheets to manage their data. They don’t realise that they potentially can be held criminally liable if this data is taken from them and passed on to someone else without the candidate's knowledge. That data is put into a laptop and walks out of the door with consultants every night. If you are not compliant you risk having your licence revoked and losing your business- this makes the issue a top priority for recruiting and staffing industry leaders”.

Schiemer emphasises the need for recruiting and staffing firms to systemise and put infrastructure in place. “Without a doubt, one of the most important aspects of running a successful recruiting firm is to get your infrastructure right from day one. Having data on a secure email server, having candidate and contact data on a system that you can IP restrict- these are the basics. I would urge recruitment agencies to consider a solution that safeguards your data moving forward and to do so now. This is not just a Singapore phenomenon- Japan implemented a similar act in 2005 and it's had a massive impact. I predict that with the 2015 open borders policy coming in across Southeast Asia, a rash of other countries will look to adopt the same law”.

3.      Social Media

If you want to hire Talent, you have to be where Talent is. The generation of Millennials are tech-savvy and seeking job opportunities online. This trend has been simmering away in Asia for the past few years and 2014 will see this continue. Social media profiles are increasingly viewed as the new resumes in Asia andprofessional social networks are ranked the second top source for finding quality hires in Southeast Asia. Unlike the US and UK where LinkedIn is dominant, sites like Renren (similar to Facebook), Sina Weibo (akin to Twitter) and Youku (like Youtube) are the preferred social recruiting space for accessing the Talent market in China.

Japan is also in on this trend. William Brooks, Country Manager of HRBoss Japan, shared, “Using social media to recruit is definitely a growing trend in Japan- for both agency recruiters but corporates too, as well as a way to reduce agency dependency. Culturally, Japanese are not job-hoppers and are averse to changing jobs often. Social media is one clever way to reach passive candidates here in Japan and this something that the best recruiters are leveraging on with great results”.

4.      Mobile Recruiting

Still think that mobile recruiting is just hype? Think again. In 2009, there were 86.2 million smartphone users in APAC but in 2013, the number has grown to an astounding 738.2 million. The mobile recrutiing trend shows no sign of abating- rather, it will gain traction aross Asia throughout 2014. In June 2013,Google altered its mobile search algorithm ensuring that any web page that is not mobile-optimised will be demoted. Your job listing pages risk getting lower rankings and could even be removed from search results completely. The message couldn’t be clearer : to expand your current Talent pool in 2014, your website has to be mobile optimised and must also allow instant job application via the mobile platform. Integrate your mobile recruiting website with LinkedIn, Facebook and other social sites to enable candidates to apply to jobs in single-clicks. By anticipating the needs and behaviours of today’s candidates, you can make the application process easy and attract fresh Talent.

5.      The Right Candidate Experience

In line with the rising trend of social spaces and mobile platforms for recruitment, recruiters in Asia are also beginning to focus on providing a positive candidate experience to transform opportunities into conversions in 2014. Recruiters should formulate targeted communication strategies which are marketed and personalised, building relationships for future Talent pipelines. A weak candidate experience is a fast route to damaging a recruiter’s reputation so it’s important that all candidate contact touch-points begin and end with a positive experience.

6.      Out-sourcing

Recruiters are busy people- so how do you go about practising all the above trends with limited time? For in-house corporate recruiting teams, out-sourcing hiring to recruiting firms will be one trend that we will see coming back  throughout 2014. Out-sourcing alleviates a company from recruiting headaches such as lack of resources, time and operational costs, enabling them to focus on core business practices and on generating revenue. This translates into not just cost and time savings, plus the quality of hire can also be improved as recruiting professionals are more experienced and plugged into the local talent market.

Steven Yeong, Chief Talent Evangelist of Singapore-based recruitment consultancy Hof Consulting predicts that we’ll see companies in Asia adopt a hybrid strategic approach for recruiting in 2014. “4 years ago, organisations focused only on in-house recruiting but this year and next, I see a trend that organisations are adopting a more hybrid approach. Many junior level recruiters are unable to recruit senior level professionals so companies turn to recruitment firms. There is always a tussle between in-house recruitment and outsourcing to agencies. By hiring a senior full-time recruitment consultant, companies might be paying high fees but they are assured that they are not losing Talent to competitors. Organisations also have more leverage in terms of salary negotiation.”

Fresh Graduates - The Answer to Singapore's Fair Consideration Framework?

Article by Manisha Dhalani

The latest Manpower Employment Outlook Survey has estimated that nearly 23% of companies in Singapore are looking to increase their hiring exercises next month. While this is healthy considering the rise from previous quarter, companies are worried about the possible shortage of Talent due to the tightening of foreign worker policies here in Singapore.

There is, however, a ray of hope that could fill up the gaps as a result of these restrictions.

Enter: Fresh graduates.

Graduates with relevant qualifications are now highly sought after to meet the demands of the increasing economy in Singapore. But how do we ensure that fresh graduates from local universities and polytechnics fit the bill?

Asia has no shortage of hiring managers and recruiters who can help facilitate the hiring. Vigorous screening processes, interviews and entrance requirements undoubtedly play their part in allowing companies to pick out the cream of the crop.

However, hiring fresh graduates has its pros and cons. Here’s a summary of the good that you can get out of placing them, things you need to look out for and the disadvantages that you might want to consider:
 

Pros 

Less expectation
Most fresh graduates won’t ask for an exorbitant starting pay. Bear in mind that this does not imply that graduates aren’t aware of the current market rate, so be strategic before putting forward your offer. If the qualifications and personality sounds like a perfect match for your company, don’t hesitate to hire what could possibly be a future star employee for your organisation.

Eagerness to learn
For my first job, I insisted on being tasked with roles and responsibilities that I had never handled before. I wanted to learn as much as I could. This is also very true for the other graduates like myself. Encourage them to continuously explore tasks out of their comfort zone –they might excel at it and benefit your company in turn. If they stumble, give them the right guidance to bring out the best in them.

Ability to be moulded
As fresh graduates are eager to learn, use this opportunity to mould them into valuable assets for your firm. Give them the opportunity to brainstorm, manage people and projects and find out about their career aspirations. Tell them about your company and the expectations, if their mind-set aligns with your organisation’s culture, fine-tune their skills set and watch them perform outstandingly and provide off-the-chart results.

New perspective
With the constantly evolving nature of business today, we are always looking to explore new innovations. Gain new perspectives on the latest technology, market trends, user experiences and relevant tools from graduates who also form part of the current target audience and rising end-user market.

Cons

Lack of experience
As resumes of fresh graduates may not be seem promising due to their lack of experience, hiring managers may have to conduct lengthy interviews or admission tests to establish the skill sets of fresh graduates. Luckily, with more creative positions opening up thanks to social media, we can also evaluate a candidate by their level of involvement in contemporary communication platforms that could help set them apart from the other job applicants.

Lack of critical thinking
Having just entered the job market, it may take a while for new hires to get better at assessing and negotiating situations. They may be unaware of established communication practices within your corporate culture and may not have polished problem-solving skills. This, in no way, means that they aren’t able to do so – a little bit of on-boarding programmes, training and development go a long way.

New age preferences
As Singapore companies can expect more contract staff hiring, the advent of a new generation brings with it a need for a fresher approach to the conventional workplace practices. New intakes may expect flexible working hours and prefer jobs that fit with their personal lifestyle, i.e. those that provide a work-life balance. Make use of analytics to help you identify the preferences of your new batch of hires.

With the Ministry of Manpower’s (MOM) move to push the Fair Consideration Framework (FCF) initiative and the national jobs bank launching in August, more graduates will be seen as the solution to the tightening of foreign worker policies. In order to prepare the future workforce, organisations can consider partnering up with colleges and universities to alert undergraduates of the missing pieces of the hiring puzzle so they can figure out the must-haves and gather the right experience before graduating.
 

Singapore has highest C-level salaries in Asia Pacific

by Asia One Business

SINGAPORE – Salaries for senior management executives are up to 14 per cent higher than those in Hong Kong, a study has found. Salaries for top management executives are also 34 per cent higher in Singapore than in Hong Kong.

Not only is Singapore paying senior executives more than Hong Kong firms are, the Towers Watson’s 2013/2014 Global 50 Remuneration Planning Report also states that C-suite pay levels exceed those of other countries in the Asia Pacific region.

“Growth in private banking in Singapore and its development – or regeneration – as a regional hub for international companies has drawn a lot of high-level talent to the city and that’s reflected in the C-suite compensation,” said Sambhav Rakyan, Data Services practice leader, Asia Pacific at Towers Watson.

Towers Watson forecasts average salary increases in both centres to be 4.5 per cent this year.

The report revealed that Asia Pacific’s developed economies have the highest pay levels – Australia’s entry pay level is eight to 11 times more than China, the Philippines and Indonesia, and 15 times that of Vietnam. Australia also pays discernibly higher than Japan, Singapore and Hong Kong through to middle management, after which the gap narrows.

Pay levels in China lags that of Hong Kong across most of the job categories, but at senior management level – there is convergence. At top management, remuneration is 11 per cent more in China (US$215k) than in Hong Kong (US$193k), according to the Towers Watson report.

Salaries for senior management have risen in China over the past few years because of a shortage of talent at this management level. It means that top-level pay in China is comparable to that elsewhere in the world.

Opportunities in India

More eye-catching, however, is the comparison between China and India. Striking differences exist between the region’s two biggest labour forces. Based on the survey findings, labour costs for senior executives and top management is lower in India. At senior level, executive pay in China is more than twice that in India (US$94k).

For international companies, the sharp fall in the value of the Indian rupee against the US dollar in 2013 contributed to reducing labour costs in India. It contrasts with China where the renminbi appreciated against the dollar. The rupee is down around 12 per cent on the year, while the renminbi has risen almost 3 per cent.

“The large influx of Indian returnees following the global financial crisis helped India to get more CEO talent,” said Clare Muhiudeen, Managing Director, Talent & Rewards, Asia Pacific, Towers Watson. “But with higher rates of inflation in India than in China, that gap will narrow. We expect average salary increases in India to be higher than China’s 8.5 per cent. That said, India clearly has more affordable labour than China and that’s the way it’ll be for the foreseeable future.”

Other fundmentals have a bearing too. China’s labour force is expected to fall for the second year running to 795 million in 2014 from 798 million in 2013, while unemployment is forecast to be 6.1 per cent (6.4 per cent in 2013). In India, however, while unemployment is expected to fall to 8.4 per cent from 8.8 per cent in 2013, it remains well above that of China. Meanwhile its work force is set to reach 492 million this year, up from 487 million in 2013.

Better opportunities for Singapore professionals in 2014!

by Business Asia One

SINGAPORE – Companies across various industries are expected to increase training and development opportunities and chart clearer career paths for local professionals in 2014.

A new report done by recruitment consultancy Robert Walters also said that professional candidates who switch jobs can expect average salary increments of 15-20 per cent this year.

The Fair Consideration Framework, which will be implemented from August, will drive salaries of local employees up as firms compete to attract and keep top local talent, the report said.

While the emphasis on domestic hiring is expected to push salaries up across the board, managers may struggle to meet niche skill requirements.

Companies will have to be prepared to take on employees with transferable skills and develop them internally, the survey report said.

Toby Fowlston, Managing Director of Robert Walters Singapore, said that firms are investing more in existing employees with transferable skill sets as the competition for top Singapore talent has increased.

“This allows for more promotion opportunities from within and rewards employees with an expanded scope of responsibilities,” he said.

Professionals can expect to reap rewards in terms of career progression in 2014, he added.

Hong Kong may benefit from stricter Singapore policy on hiring of foreigners

by Phila Siu

Lion City seeks to favour locals in hirings under its ‘Fair Consideration Framework’; foreign professionals may now opt for Hong Kong.

Hong Kong and Shanghai may have lost out to Singapore in the hunt for foreign talent over the years, but manpower experts believe a reversal is looming as the Lion City tightens the rules on the hiring of staff from overseas.

Singapore’s Ministry of Manpower announced last September that under its new “Fair Consideration Framework”, companies would need to consider locals before hiring from abroad.

“These changes are part of a broader effort to ensure that good jobs continue to be created for Singaporeans,” said Tan Chuan-jin, acting minister for manpower at the time.

Starting from the first quarter of this year, companies with a disproportionately low concentration of Singaporeans at professional, managerial and executive level compared with other companies may be chosen for additional scrutiny.

Nick Marsh, managing director of recruitment firm Harvey Nash Asia Pacific, said over the years international companies and talented professionals had left Hong Kong and Shanghai for Singapore, mainly because of air pollution, limited school places and high rents.

“Lots of foreigners cannot get places in schools in Hong Kong. And they can get that in Singapore,” Marsh said. “The regular conversations you have with foreigners in Hong Kong is, ‘I have just had my rent hiked … 50 per cent’. It’s either they cannot afford to live here or this is so stressful. ‘I can go to Singapore and get an apartment for half the price’.”

Marsh said another factor was that the Singaporean government gives several years of tax breaks for companies setting up offices in the country.

Five years ago, firms in Hong Kong were offering full expat pay packages, but now at least half of foreigners are offered a “local plus” package, Marsh said.

Full expat packages include full housing and schooling allowances, together with flights back home twice a year. “Local plus” packages mean half the housing allowance and often only one flight home.

Full expat packages in Hong Kong are still slightly more attractive than in Singapore. But many people prefer Singapore because of Hong Kong’s air pollution, high rents and the difficulty in getting children into schools.

To give an example, a chief financial officer in Hong Kong earns a basic salary of about HK$2 million plus a HK$90,000-a-month housing allowance. In Singapore, the basic salary is HK$1.5 million plus a HK$60,000 housing allowance.

Marsh believes that Singapore’s curb on foreign talent could mean that international firms and expats will opt for Hong Kong and Shanghai.

Pauline Chung Hei-ching, president of the Hong Kong People Management Association, said companies may move away from Singapore if the policies made it difficult to hire the international talent they need.

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Locals First

Key points of Fair Consideration Framework

• From January, qualifying salary for a work pass for a foreign professional up from S$3,000 (HK$18,350) a month to S$3,300

• Firms will be subject to additional government scrutiny if they have disproportionately low concentration of Singaporeans at senior levels, and receive repeated complaints of nationality-based or other discriminatory HR practices

• From August, companies with more than 25 employees must advertise vacancies on a new jobs bank to be run by the government. Ads must be open to Singaporeans and run for at least 14 calendar days.

Asia Market Update

Attribute to Jacob Hansen, Asia Legal Blog

As the global economy continues to feel the effects of the 2008 recession, it faces both short and long-term challenges. But new and exciting opportunities are being created as the world’s markets walk the road to recovery. Southeast Asia has become an area of growth, attracting many firms and attorneys wishing to expand their portfolios abroad. The legal market in Asia is continuing to grow at record speed, changing the landscape for expatriate lawyers with an increase and broadening of opportunities for associates, partners and firms, a rapid and substantial deal flow.

According to the American Lawyer, Am Law 100 law firms had mild gains in 2012. They reported that gross revenue for Am Law 100 law firms was up 3.4 percent, average revenue per lawyer was up 2.6 percent, and average profits per partner were up 4.2 percent. Notably, this growth was uneven and the more successful firms tended to have a strong international presence, and well as a diverse set of practice areas.

Asia is a strong area of international growth and this extends to the legal sector. The Asian legal market is on pace to double in size by 2017, according to Asia Law Portal. Their analysts project the Asian legal market to grow 6 to 7 percent over the next 8 years, creating a strong incentive for U.S. and U.K. to get on the ground floor for fear of being left out.

Among those countries garnering interest is South Korea, who may be on the path to becoming an important international arbitration hub. Following the enactment of free-trade agreements with the U.S. and EU in 2011, South Korea has opened its legal market to foreign firms [when and please add a hyperlink to the South Korea article]. Dozens of international law firms have already begun to set up shop, such as Baker & McKenzie and Linklaters receiving regulatory approval from South Korea’s Ministry of Law as recently as May of this year. Some analysts are concerned that the market may eventually become overcrowded, but others remain optimistic that there will be plenty of room in South Korea.

Following the trend from last year, Singapore continues to see foreign law offices opening their doors in the Lion City. In May, Simmons & Simmons opened its first Singapore office with a focus on asset management, energy, life sciences, TMT and the financial services sector. Akin Gump opened its first Singapore office in January, while Clyde & Co. formed a joint law venture with Singapore firm Clasis in July. With the continued expansion of Singapore’s legal market, foreign firms are expected to keep establishing a presence and hiring on the partner and associate level in the Lion City.

Firm activity was not limited to expansion, however, and 2013 has been a year of border-crossing mega-mergers. Ashurst has moved up the timetable for its merger with Australian-firm Blake Dawson. A vote is expected to take place this October to confirm the groups’ merger. London-based Norton Rose and U.S.-based Fulbright & Jaworski united to become Norton Rose Fullbright. The merger created one of the largest law firms with a massive footprint in the U.S., Asia, the EU, and beyond. Not to be outdone, SNR Dentons joined together with Paris’ Salans and Canada’s Fraser Milner Casgrain to create a firm that employs close to 2,600 lawyers and professionals. The new firm has been rebranded as simply “Dentons”.

One of the fastest growing industries in the Asian legal market is the energy sector. As more and more Asia countries move toward industrialization, there has been an increased demand for fuel and energy. And, as a result, there has been an increased demand for attorneys to help manage energy transactions and now, more and more, litigate related issues. For example, China has begun to look toward Latin America as its need for energy and resources continues to increase. We at Cypress have noticed an uptick in demand for energy lawyers to work in Asia. While overall energy demand has dipped slightly in recent months, market analysts are confident this is only a temporary blip.

The M&A market in Asia continues to flourish despite a few setbacks. M&A lending of $30.5 billion made up 18.5 percent of the total Asia-Pacific loan volume in the first two quarters of 2013. The amount already exceeds that of 2012 at $28.4 billion, and puts 2013 on track to near the record-setting 2007 ($80 billion). Attorneys of all levels with a strong M&A background remain in vogue for firms expanding throughout Asia.
Asia’s role in capital markets has faced challenges with government cooling having an impact in Singapore and Hong Kong, but there are hopeful signs. Overall growth across the first half of 2013 was greater than in the first half of 2012, indicating a possible upward trend in 2013’s second half. There continues to be demand for capital market attorneys with debt and equity experience and Cypress currently has a record number of positions available for attorneys with or without local language capabilities and either US or HK listing experience. Here at Cypress we typically advise capital markets attorneys practicing in China to try and diversify their practice by working on US, London, HK and mainland China listings.

Cypress Recruiting is well positioned to ensure that your next move is the right one. Cypress is the only legal recruiting firm that has focused on partner and associate recruiting in Asia for over ten years. We have excellent relationships with law firms across the Asian region.

In this regard, it is worth noting that we are representing several law firms that are seeking to bolster their corporate, capital markets, M&A, arbitration, and other practices in Hong Kong, Singapore, Japan, and mainland China. For more information, please visit our job listings on our website.