Category: Human Resources

Healthcare Hiring on the rise in the Philippines: foundit Insights Tracker

foundit (formerly Monster APAC & ME), one of the leading talent platforms, today published the foundit Insights Tracker (fit) for June 2023, formerly published as Monster Employment Index (MEI). According to the Philippines fit report, job roles in the Healthcare and Retail sector have impressively grown by 26% and 12% respectively over the past year.

The tracker also reveals a marginal dip of 2% in e-recruitment activity, as the index climbed down from 127 in June 2022 to 124 in June 2023. Despite this drop in recruitment activity, sectors such as Healthcare, Retail, and BPO/ITES witnessed progressive annual hiring growth in June’23. Amidst the ongoing pursuit of cost-cutting measures by global businesses, call centers and outsourcing companies in the Philippines have exceeded revenue and hiring targets and managed to maintain a positive outlook for the BPO job market. These promising numbers confirm a gradual but continuous improvement in the labour market, implying that demand for online recruitment will continue to climb in the coming months.

Commenting on the Philippines job trends for June 2023, Sekhar Garisa, CEO, foundit, said, “Hiring is picking up pace in the Philippines. We are hopeful that jobs will rebound in the upcoming months as certain sectors such as Healthcare, Retail, and BPO/ITES are showing a positive growth trajectory. The Philippines government has also shown support for gig & hybrid jobs, boosting hiring for service. This is crucial for job seekers, as it gives them more flexibility and opportunities to work in different sectors and locations.”

Healthcare, Retail, and BPO/ITES sectors lead in hiring activity, while the IT, Telecom, Logistics, Courier/Freight, and Advertising industries witness a drop in recruitment.

The fit reveals that the Healthcare industry continued to dominate the job market in June 2023, with a YoY increase of 26% hiring in the sector. Despite the shortage of skilled nurses and doctors, there has been a promising upward trend in hiring efforts to meet the country’s healthcare demands. Also, the Retail industry (+12%) witnessed double-digit growth in hiring demand this month owing to the increased number of customers visiting physical stores. Given that the Filipino government had allowed BPO companies with work-from-home arrangements to retain tax incentives, the hiring in the BPO/ITES sector (+11%) saw sequential annual growth in June ’23.

The Logistics, Courier/Freight/Transportation, and Shipping industry along with IT and Telecom/ISP has recorded a dramatic decline in hiring activity, with a YoY decrease of 34% and 20% respectively. Logistics has always presented a major challenge in the Philippines due to inadequate infrastructure, frequent weather-related disasters, and scattered demand. Consequently, the industry has struggled to thrive, resulting in sluggish hiring trends within the sector. The growth momentum for other industries such as Advertising, MR, PR, Media & Entertainment (-18%), Engineering, Construction and Real Estate (-1%), Hospitality (-3%), BFSI (-13%), Production/Manufacturing, Automotive and Ancillary (-14%), and Education (-17%) saw a consecutive dip annually in June’23.

Roles in Healthcare, Sales & Business Development, and Customer Service lead the hiring trends

There continues to be a high demand for Healthcare (+21%) professionals marking the steepest annual growth in June’23. With the sudden jump in the retail sector, the jobs in Sales & Business Development (+17%) went up leading to increase in demand for candidates Customer service and software, hardware, and telecom functions are also experiencing positive and steady growth of 11% and 3%, respectively, due to the improving economy.

Jobs in Purchase/ Logistics/ Supply chain (-24%) have been facing some challenges since Jan’23 and showed the lowest growth in hiring this month among all monitored functions. Hiring for Marketing & Communications (-21%) and HR & Admin (-21%) roles too dipped substantially in June’23. Other industries to witness a subsequent drop in hiring activity include – Hospitality & Travel (-1%) Engineering/ Production, Real Estate (-2%), and Finance and Accounts (-10%).

The foundit Insights Tracker is a comprehensive monthly analysis of online job posting activity conducted by foundit. Based on a real-time review of millions of employer job opportunities culled from a large, representative selection of online career outlets, the foundit Insights Tracker (fit) presents a snapshot of employer online recruitment activity nationwide.

Period for the report

The period considered for the foundit Insights Tracker (fit) data is June 2022 vs. June 2023.

About foundit – APAC & Middle East

foundit, formerly Monster (APAC & ME), is a leading talent platform offering comprehensive employment solutions to recruiters and job seekers across APAC & ME. Since its inception, the company has assisted over 75 million registered users to find jobs, upskill, and connect with the right opportunities across 18 countries. Over the last two decades, the company has been a catalyst in the world of recruitment solutions with advanced technology, seeking to efficiently bridge the talent gap across industry verticals, experience levels, and geographies. Today, foundit is committed to enabling and connecting the right talent with the right opportunities by harnessing the power of deep tech to sharpen hyper-personalized job searches, and precision hiring. foundit strongly believes that a job title doesn’t define one’s potential and leverages technology to dig deeper to curate opportunities central to the needs and aspirations of each user.

To learn more, about foundit in APAC & Gulf,

Visit: www.foundit.com.ph | www.foundit.my | https://www.foundit.in | https://www.founditgulf.com | https://www.foundit.sg | www.foundit.com.hk | https://www.foundit.id

Contact:
Namrata Sharma
Namrata.sharma@adfactorspr.com
+6581383034

A New Era in CX: Driving Business Growth

The World CX Summit, organized by Trescon, set to be hosted in Singapore on 2nd-3rd August 2023 at Marina Bay Sands Expo and Convention Centre. The Summit will bring together leading technology mavens, CX specialists and innovators to share their actionable insights and talk about successful use cases that are redefining the CX space.

Over the past few years, businesses have pivoted their attention towards providing their customers with an immersive experience. Customer experience has played a critical role in changing the way businesses operate. Today, they consider the customer feedback as an integral part of their revenue model.

As per a recent Grand View Research study, the customer experience management market segment is expected to expand at a compound annual growth rate of 18.1% from 2022 to 2030. With the increasing competition, brands today are digitizing their operations and integrating their operations with artificial intelligence and emerging technologies.

The Asia-Pacific market continues to expand with growing awareness regarding conversational AI. According to a Research Dive report, the conversational AI market is forecasted to generate a revenue of US$ 3.022.4 million by 2028. This is attributed to the favorable government regulations and advanced ICT infrastructure in countries such as Singapore, India and Japan.

The summit will help accelerate the digital transformation of the economy by driving topics such as conversational AI & chatbots, enabling omni-channel customer communication, digital experience platforms and much more.

Naveen Bharadwaj, CEO of Trescon, highlighted the importance of the event, stating “Majority customers today are either digital natives or tech savvy and expect services to be delivered via omni-channels, available at their fingers tips anywhere, anytime and their overall experience has to be seamless. Our World CX Summit in Singapore will help businesses create unique CX strategies powered by emerging technologies to enhance customer satisfaction, attract more customers and become dominant customer-centric brands.”

The World CX Summit is co-located alongside the 42nd global edition of the World AI Show and the 25th global edition of the World Blockchain Summit in Singapore.

The summit offers a wide spectrum of expert speakers and panelists such as:

  • Guillermo Arbeiza, Chief customer officer, Singlife with Aviva.
  • Achint Setia, Chief Revenue and Marketing Officer, Zalora.
  • Anna Znamenskaya, Chief Marketing Officer, foodpanda.
  • Nikki Taylor, Marketing Growth Strategy Director AMEA, UPS.
  • Denise Miura, Geo Vice President, APAC, Medallia
  • Raymond Tan, Assistant Commissioner, Taxpayer eXperience Division; Quality Service Manager, Inland Revenue Authority of Singapore (IRAS)
  • Vineet Sharma, Chief Operations Officer, Pizza Hut South Asia – Yum! Brands
  • Jana Marle-Zizkova, Co-founder & CEO, She Loves Data
  • Pavel Bulowski, Co-founder, She Loves Data
  • Sachin Sharma, Chief Product & Commercial Officer, Standard Charted nexus
  • Lino Ahlering, Group Chief Customer Officer, Daraz (Alibaba Group)
  • Natalia Goh, Chief Operating Officer, Trust Bank
  • Pamela Choong, Head of Customer Experience, JTC Corporation
  • Vikrama Dhiman, Head of Mobility Products, Gojek
  • Katja Forbes, Head of Client Experience CCIB, Standard Chartered Bank
  • Soo Huat Chew, Head, Biz Initiative and Enablement, DBS MidCap/SME
  • · Natalia Goh, Chief Operating Officer, Trust Bank.

The 9th global edition of the World CX Summit is supported by:

About the World CX Summit

World CX Summit is a thought-leadership-driven, business-focused, global series of events that takes place in strategic locations across the world.

As a part of the world tour, this Singapore edition is gathering pre-qualified CX leaders, Marketers and tech experts under one roof to discuss how the latest technologies and customer insights can be combined to change CX as we know it.

The summit is hosting a combination of insightful sessions, keynotes, case studies and panel discussions sure to deliver actionable insights that attendees can apply to their Customer Experience strategies.

For more information, visit: https://bit.ly/3CJGNv6

About Trescon

Trescon is a pioneering force in the global business events and services sector, driving the adoption of emerging technologies while promoting sustainability and inclusive leadership.

Our summits, expos, and conferences create real economic impact by connecting and empowering the key ecosystem of government organisations, regulators, enterprises, corporates and more. With the help of our 250+ employees across offices in 6 countries, several of our clients have quadrupled their leads, shortened sales cycles by half or less, entered markets three times faster, closed deals within unimaginable timelines and grown their businesses ultimately. For more information about Trescon visit: www.tresconglobal.com.

For further details about the announcement, please contact:
Nupur Aswani
Head – Media, PR and Corporate Communications, Trescon
+91 95559 15156 | media@tresconglobal.com

Kincentric 2023 Research Reveals the Power of Consistency in Employee Experience

  • Employees are 5X more engaged when the work experience is consistent and cohesive across multiple elements. Yet only 42% of employees globally have a consistent experience. Therein lies a missed opportunity.

The latest research by Kincentric, a Spencer Stuart company focused on improving leadership impact by unlocking the power of people and teams, identifies a number of compelling business outcomes that can be achieved when organizations deliver a consistent and cohesive employee experience (EX) across the organization. The Global Employee Experience Trends 2023 Report reveals that employee engagement has plateaued over the last five years, and CEOs and CHROs must now shift their approach to EX if they want to accelerate business outcomes through their people.

The study, backed by extensive data from over nine million respondents across 2500 organizations, 162 countries and 62 industries, emphasizes the need for leaders to act on employee experience more holistically, with consistency of experience emerging as a key factor in driving business impact. In addition to consistency, which is achieved when multiple core experience elements create similar positive perceptions across employees, the report also outlines the importance of the alignment of EX to culture and business strategy, as well as endorsement by the C-suite. The data indicates that leading organizations are enjoying notable advantages in terms of employee engagement, retention, financial performance and customer satisfaction as a result of this groundbreaking new approach.

Key findings of the research include:
– Ratings of customer satisfaction and financial performance are over 2X higher when the work experience is consistent, yet almost one third (29%) of employees have a highly inconsistent experience, with significant negative impact on engagement and business outcomes.
– Employee engagement is 5.5X higher when EX is aligned to culture and strategy, yet only 36% of organizations have indicators that all three elements are truly aligned.
– Nearly half (49%) of employees feel their employers are failing to provide the employee experience they were promised.
– Senior leaders have 6X the impact on the consistency of EX compared to managers, demonstrating their critical role in bringing this to life.

In addition, Kincentric’s 2023 report indicates employees have increased expectations regarding their day-to-day work experience, and while employees have expressed more positivity around things such as long-term career aspirations and virtual work arrangements, there has been a decline in measures around inspirational leadership, organizational values and support and connection.

According to Jeff Jolton, Managing Director of Research and Insights at Kincentric, leaders looking to drive exceptional business results should focus on the transformative power of a consistent and cohesive EX, instead of solely measuring employee engagement as an outcome. “Organizations must take a fresh, holistic and highly intentional approach to drive greater consistency in their EX – which is not about providing the same experience for everyone, but instead, striving to ensure employees have the same positive perception of the work experience.” Jolton says. “The reality is that the majority of organizations globally are not providing the level of consistency required to translate EX into critical business outcomes and are missing a huge opportunity to unlock the full potential of their people and create competitive advantage.”

Click HERE to learn more or to review the study highlights and full research report. https://www.kincentric.com/insights/global-employee-experience-trends-2023

About Kincentric
Kincentric, a Spencer Stuart company, helps organizations unlock the power of people and teams to ignite change and drive better business results. With decades of experience and specialist expertise in areas such as culture, employee engagement, leadership assessment and development, HR and talent advisory, and diversity, equity and inclusion, we use data-driven insights to architect solutions that add value, enhance agility and increase organizational effectiveness. For more information, visit kincentric.com.

Taking a Step Towards Amplifying Customer Experience

Philippines, the third-largest contact center outsourcing destination, is gearing up to host the 11th edition of the World CX Summit, organized by Trescon. The premier customer experience event brings together leading CX professionals and experts to help businesses and brands provide a seamless customer experience journey using the latest trends and technologies that dominate the market.

After successfully hosting over 15,000 CX thought leaders, innovators, specialists and key stakeholders in over 10 editions, the World CX Summit has established itself as a premier knowledge sharing platform to share actionable insights about the latest trends and technologies in delivering a memorable customer experience. At the event, attendees will engage in insightful sessions, listen to captivating keynotes, and draw inspiration from successful use-cases to transform their CX strategies.

At the 11th global edition of the World CX Summit, the attendees will witness the fusion of cutting-edge technologies and customer insights while helping them focus on how to amplify customer experience, pioneering personalization at scale, cracking the code of CX ROI along with other key topics. Fostering a spirit of knowledge-sharing and innovation, the event facilitates networking opportunities and forge impactful relationship to accelerate the adoption of the latest technologies to optimize customer experience strategies.

The notable speakers attending the event include:
– Venn Jude Francisco, Chief Experience Officer, Metro Pacific Tollways Corporation, Philippines
– Sam Tolentino, Assistant Vice President – Client Engagement & Solutions Group, Union Bank, Philippines
– Melody Lim, Head of Customer Experience, Aboitiz Power Philippines
– Hazel Montano-Zamora, CX Design Head, AIA Philippines, Philippines
– Godfrey Santos, Assistant Vice President- Customer Experience, PETNET Inc.
– Tara Cabullo, Head of Customer and Investments Digital Experience, GCash, Philippines
– Samuel Powell, CEO, HMR Philippines, Philippines
– Warren Ilustre, Head of Customer Experience, East West Bank, Philippines
– Dan Ramirez, SVP and Head of Transformation, ING, Philippines
– Jonas R. De Los Reyes, First Vice President, Head of Digital Marketing and Omnichannel, Metrobank and Trust Company (Metrobank), Philippines

Naveen Bharadwaj, Group CEO, Trescon shared his excitement about the upcoming event stating, “The Philippines’ expanding CX market and economic growth made it an ideal choice to host the latest edition of the World CX Summit. We are committed to supporting the continued digital transformation of the market by undertaking the mandates and requirements of local government and enterprise stakeholders and facilitating their introductions to the world’s leading solution and service providers.”

On being a part of the Summit, one of the key speakers, Venn Jude Francisco said, “The World CX Summit provides a venue that will foster much needed collaborations which can hopefully spark meaningful innovation in customer experience across regions.”

Sam Tolentino, AVP‐ Client Engagement & Solutions Group, Union Bank expressed his excitement about the Summit saying, “The World CX Summit will play a pivotal role in elevating local CX to exceed global standards.”

About Trescon

Trescon is a pioneering force in the global business events and services sector, driving the adoption of emerging technologies while promoting sustainability and inclusive leadership. Its summits, expos, and conferences create real economic impact by connecting and empowering key stakeholders, including government organizations, regulators, enterprises, corporates, and more. With a team of over 250 employees across offices in 6 countries, Trescon has helped clients achieve exponential growth, accelerate market entry, and build valuable partnerships. For more information about Trescon, visit: www.tresconglobal.com

Trescon is glad to announce a new mega tech show called Digital Acceleration and Transformation Expo (DATE) scheduled to take place in Delhi in November 2023 and Jakarta in 2024. For further information about DATE, visit: www.datewithtech.com

For media inquiries, please contact:
Nupur Aswani
Head – Media, PR and Corporate Communications, Trescon
+91 95559 15156 | media@tresconglobal.com

A Resounding Success at the 2-Day Retail & E-commerce Summit Asia

In a noteworthy feat, rockbird media organized a resounding success with its esteemed 2-day event, the Retail & E-commerce Summit Asia: Scaling Digital Strategies Towards Growth, held on July 12-13, 2023, at the Shangri-La The Fort, BGC. The summit drew industry leaders and pioneers from across the region to forge a brighter, more prosperous future for retail and e-commerce sectors.

The 2-day-event witnessed an impressive gathering of over 155 attendees on Day 1 and 124 on Day 2 including prominent industry leaders, including the esteemed CMO, CEO, COO, VP, Director, Head, Managers and Marketing Executives. The occasion was enriched by the presence of 25 thought-provoking speakers who shared their invaluable insights across various industries. Additionally, the event garnered support from 7 media partners, as well as esteemed brands and sponsors that played a crucial role in making this event a resounding success. Special thanks go to our valued sponsors, including Shopify Plus, Clevertap, Dotdigital, Braze, VTEX, Lexer, Rush, Inquiro, Digimind, Vinculum, Gcash, and Una Cash, whose unwavering support made this event possible.

Keep yourself informed about all the latest event updates by staying connected with us through our website, https://rockbirdmedia.com/. For more exciting news and updates, don’t forget to follow us on LinkedIn at www.linkedin.com/company/14633772/admin/feed/posts/. We look forward to keeping you informed and engaged!

About Rockbird media

Rockbird media is an international business media company that produces B2B events and offers business solutions.

Whether it is through online media and content, must-have business intelligence and analytics, effective networking, and partnering solutions, we help businesses and professionals learn more about the latest trends, and know more about their customers, peers, and competition, to make that decision that allows them to grow.

For press-related concerns, please contact:
Imee Mariano
Marketing Department
im.mariano@rockbirdmedia.com

Veteran Healthcare Communicator Lea Sims Appointed to Lead CGFNS Marketing and Communications

CGFNS International announced today that it has appointed Lea Sims, a veteran executive who has held both private and public sector marketing leadership roles, as its Chief Marketing and Communications Officer. Sims will join the CGFNS senior leadership team and play an integral role in driving the organization’s brand transformation strategy.

Lea Sims, Chief Marketing and Communications Officer, CGFNS International

Sims has 35 years’ experience in healthcare, most recently as the Global Marketing Lead for Verizon’s healthcare and life sciences practice, where she also led vertical marketing for Verizon Business Group. Prior to that, she served as Director of Professional Practices for the Association for Healthcare Documentation Integrity, a role that required strategic oversight of the association’s marketing, communications, print and digital publications, professional credentialing, government affairs, and advocacy programs. An early career in clinical roles within health systems – including 15 years in healthcare documentation – led to teaching, writing, and ultimately marketing and communications for allied health professions and health technology.

“With her deep experience at the intersection of healthcare, technology and workforce development, Lea Sims is uniquely qualified to help lead CGFNS into a new era of boosting global mobility for health workers worldwide,” said Dr. Peter Preziosi, the organization’s President and CEO. “She will play an outsized role in promoting key innovations in global competency-based digital credentials, career development and redesigned care delivery models on a global scale.”

“I’m thrilled to be joining CGFNS at such an important inflection point in its notable history and at an equally critical time in the evolution of nursing and allied health careers globally,” said Sims. “Decentralization of care, clinician shortage and burnout, care model evolution, and the accelerated adoption of technologies like artificial intelligence (AI) are transforming the landscape of care and shifting the training and scope of practice of clinical teams. There’s never been a more important moment in time for this organization to advocate for streamlined credentialing and career mobility for this essential workforce. And I look forward to helping CGFNS tell its story.”

About CGFNS International, Inc.
Founded in 1977 and based in Philadelphia, CGFNS International is an immigration-neutral not-for-profit organization proudly serving as the world’s largest credentials evaluation organization for the nursing and allied health professions. CGFNS International is an NGO in Consultative Status with the United Nations Economic and Social Council (ECOSOC) and is a member of the Conference of NGOs in Consultative Relationship with the United Nations (CoNGO). For more information, visit https://www.cgfns.org.

Contact Information
Mukul Bakhshi, Esq.
Chief of Strategy and Government Affairs
mbakhshi@cgfns.org
(215) 243-5825

Christian Kohler Becomes New CCO at crop.zone

  • Marketing Expert joins the executive team at crop.zone – the specialist for herbicide-free weed control.

crop.zone GmbH, a leading agricultural technology company, announced today that Prof. Christian Kohler has been appointed as its new Chief Commercial Officer (CCO). Kohler will provide extensive experience in sales, marketing and business development to further drive crop.zone’s international growth, being responsible for all sales and marketing operations at the company.

Prof. Christian Kohler, CCO of crop.zone

Kohler has over 20 years of management experience in international sales, marketing and business development. Having worked as International Senior Director and Management Consultant at large leading OEMs such as CNH Industrial, BMW Group, and Mercedes Benz as well as at leading Tech-Scaleups from Germany, he expanded their businesses on an international level. His great passion for agricultural businesses led him to spend more than 10 years adding value to the industry. At the IE Business School, one of the world’s leading Business Schools, he teaches young and senior executives as an associated sales and marketing professor. crop.zone GmbH has been growing rapidly in recent years, with its innovative technology allowing farmers to reduce herbicide use up to 80%. The company has been expanding its operations globally, with customers in Europe, the United States and Asia.

“I am thrilled to be joining crop.zone at this exciting time in the company’s growth trajectory. crop.zone’s innovative technological solutions are truly outstanding and transformative in the agricultural industry, and I am excited to bring these customer values with the highest business impact to all farmers around the world.” Prof. Christian Kohler, CCO of crop.zone

With Kohler on board, crop.zone is poised to continue its expansion and bring its technology to even more farmers around the world. A technology that works like chemistry. But without chemistry.

“I am looking forward to working with the crop.zone team to further drive the company’s international growth and continue to bring innovative technology and highest customer value to many farmers,” Kohler added.

About crop.zone

Works like a herbicide. But without residues.

crop.zone has become the specialist for herbicide-free desiccation with cross-field knowledge from chemistry, biology, physics, ecology, and agronomy. The professional technology incorporated in our machines enables safe, efficient, and cost-effective crop preparation. Our technologically advanced system achieves premium quality yields while protecting the soil. crop.zone offers the solution for ecological and sustainable agriculture and thus makes its contribution to the future of our planet.

For more information about crop.zone and its innovative technology, visit www.crop.zone.

Contact Information:
Dirk Vandenhirtz
CEO – crop.zone
dirk.vandenhirtz@crop.zone
+1 (919) 251-6320 / +49 2408 598

Related Files
CRO15043_Pressemitteilung_CCO_Christian_Kohler_EN.pdf https://pr.report/XedVE6Lc
CRO_Kohler_RET_LI.jpg https://pr.report/KGVp5hkD

APAC GCs Say Legal Departments Are Too Under-Resourced To Be Effective, Axiom Study Finds

Being an APAC-based General Counsel (GC) is hard, according to the results of survey by Axiom, the global leader in high-caliber, on-demand legal talent. Findings from Axiom’s APAC General Counsel Survey Report: Managing the Unmanageable, which surveyed300 Hong Kong (HK) and Singapore-based GCs across a wide range of industries, reveal three concerning and universal headlines. APAC GCs are:

1. Struggling to navigate budget cuts and hiring freezes. They say budget constraints will further erode their already under-resourced department. Many believe the cuts will be deep and the freezes imminent.
2. Skeptical that either law firms or internal hires can address their resourcing challenges. Why? First, because of the high costs associated with both. These GCs also note the tremendous difficulty of finding and hiring the right talent to meet their needs.
3. Unhappy with their careers. They are stressed and dissatisfied, citing an unmanageable workload and poor work-life balance.

“Given increasing workloads and decreasing budgets, the headline findings are concerning, but not surprising,” said Yolanda Chan, Managing Director, Asia Pacific, Axiom “Our intention was to look behind the headlines and to uncover the more nuanced pain points of the legal function. For that reason, we didn’t want to simply understand that GCs feel under-resourced – we want to identify where, specifically, they feel a dearth of expertise and how they anticipate those needs will change over time.”

Continued Chan: “The survey results paint a complicated picture of a legal department that needs skill remediation right now but is struggling to efficiently access legal consultants with the necessary skillsets through traditional channels.”

Struggling to Do More with Less

Survey findings reveal that APAC GCs are facing a parallel crisis of budget cuts and increasingly complex workloads. Ninety per cent of APAC GCs say their legal department budget has been cut because of economic conditions and ongoing volatility. On average, APAC budget cuts represent 3% of company revenue—which in real dollars, is significant. Singapore-based GCs have seen their budgets shrink by US$3.7M and their HK peers have experienced budget cuts averaging US$1.7M. This is even though approximately half (45%) of APAC GCs report their department is seeing an increase in both the volume and complexity of legal matters.

These compounding issues create a perfect storm for GCs trying to maintain a staff capable of doing more with less. In fact, the vast majority of APAC GCs (92%) say their department does not have the necessary staffing resources in-house to do its job effectively. Moreover, more than one-third (35%) of APAC GCs feel they do not have the right legal expertise on their team to address current or anticipated legal needs. Just where is that expertise lacking?

The top 3 current deficits include labor & employment, regulatory and compliance, and real estate expertise. Looking forward, APAC GCs believe they will face future deficits around new/emerging areas, banking/finance, and data privacy and cyber security matters. That these deficits are set to change so quickly suggests a fast-moving environment where expertise is incredibly valuable and finding the right talent is key.

Addressing Resourcing Challenges: Internal Hires

APAC GCs can’t just hire their way out of trouble—and they know it: only 21% call hiring additional full-time legal consultants an appropriate solution to address their resourcing issues. Why? There are a few reasons.

First, 93% of APAC GCs anticipate a hiring freeze this year. Second, because in-demand expertise is evolving so quickly, hiring permanent staff won’t effectively address current or anticipated expertise.

Third, permanent headcount is expensive. In fact, the majority of APAC GCs (61%) cited cost as the primary reason full-time hires are not an adequate response to resourcing needs.

Addressing Resourcing Challenges: Law Firms

When ‘staffing up’ doesn’t work, GCs look to ‘send out’ to law firms. Many GCs have long-standing relationships with law firm partners to whom they can turn for high-quality and experienced counsel. These relationships are particularly critical for exceptional events and bet-the-company matters. They are less helpful for supporting ‘overflow’ work, as noted by the fact that only 33% of APAC GCs say law firms are an effective solution for their current concerns.

According to over half of survey respondents, much of it is a matter of cost. Globally, law firm clients expect rate increases between 5-15% in 2023, with some firms expected to hike rates by 30%+

The Solution: Flexibility

Survey findings indicate that APAC GCs are eager to solve for their resourcing challenges by embracing the benefits of flexibility. Unlike expensive law firms and in-house hires, 62% of APAC GCs overall (and 72% of HK-based GCs in particular) say elite ALSPs, like flexible legal talent providers offer better value for every budgeted dollar.

APAC GCs also recognise the many benefits of working with these ALSPs that extend well beyond cost. Almost half (46%) say that ALSPS offer effective administrative management to ease the burden of law firm supervision.

Concluded Chan: “How can growing demands and shrinking support still equal high performing legal teams? The solution, according to the majority of GCs, is to embrace flexible legal talent. This modern model not only improves risk mitigation by matching legal matters to the right legal consultants, but it also allows APAC enterprises to minimise the sunk costs of permanent in-house hires and limit law firm spend to exceptional events. Our survey findings reveal that flexible talent is the right resourcing solution to complement in-house teams and their firms as GCs seek to navigate a recessionary economy.”

Survey Methodology

The survey, which was conducted by global research firm Coleman Parkes between January and February 2023, surveyed 150 Singapore-based and 150 Hong Kong-based General Counsels working at companies with an annual average revenue of US$1 billion across a wide range of industries regarding their current roles and career trajectories.

About Axiom

Axiom is a global alternative legal service provider where legal teams go to find the right talent for everything from ongoing in-house matters to complex outside counsel work. Too many legal consultants and legal departments are stuck in a forced compromise. Legal departments have high standards when it comes to finding the right talent and getting the right value. Plus, top legal consultants want more control over how, when and where they practice. Axiom shares and meets the higher standards of its global clients and 14,000+ legal consultants — connecting mid-market and Fortune 500 companies with the world’s deepest and widest bench of experienced, highly qualified legal talent. Axiom. Higher standards welcome.

Media Contact
Hazel Ramirez
Plat4orm PR
hazel@plat4orm.com

Roles in Hospitality and Travel Soar with 120% Surge in Hiring: foundit Insights Tracker

foundit (formerly Monster APAC & ME), one of the leading talent platforms, today published the foundit Insights Tracker (fit) for May 2023, previously Monster Employment Index (MEI). According to the fit Report for Malaysia, job roles in the Hospitality and Travel sector have shown impressive growth of 120% over the past year.

fit also reveals a promising year-on-year (YoY) growth of 8%, as the index climbed from 73 in May 2022 to 79 in May 2023. Additionally, a month-on-month (MoM) analysis indicates a notable 6% surge, with an index of 73 recorded in April 2023. The rising index values reveal a thriving labour market that will benefit employers and job seekers alike.

Commenting on Malaysia’s job trends for May 2023, Sekhar Garisa, CEO, foundit, said, “Our findings indicate a strong momentum and a promising future for Malaysia’s labour market. However, in this competitive landscape, companies emphasise on individuals with specialised skills. Hence, job seekers must always be aware of the changing demands of the industry and equip themselves with the required skills. Upskilling and continuous learning will be the key to unlocking new opportunities and thriving in this dynamic landscape.”

Hospitality and Retail sectors lead in hiring activity, while the IT, Telecom, Oil and Gas Industries witness a drop in recruitment.

The hospitality and retail industries continue to lead the way among steadily growing sectors. The hospitality industry saw a remarkable YoY growth of 102%, owing to Malaysia’s booming tourism. Similarly, the Retail sector (57%) marked noteworthy progress in e-recruitment due to the rising retail sales. Being next in the rung, Engineering, Construction, and Real Estate industries also witnessed a YoY increase in May 2023 with a 24% rise in the hiring activity due to infrastructure developments, government policies, and rapid urbanisation plans of Malaysia.

The IT, Telecom/ISP, and BPO/ITES, along with Oil and Gas industries recorded a substantial deceleration in YoY hiring activity with a decrease of 14% and 7% respectively. This trend can be attributed to the economic slowdown and political uncertainties that lead to reduced investments, and lower demand for services. However, the overall hiring sentiment in Malaysia has been positive with industries such as Production/Manufacturing, Automotive and Ancillary (+2%), BFSI (+5%), Advertising, Market Research, Public Relations, Media and Entertainment (+14%), and, Logistic, Courier/ Freight/ Transportation, Shipping/ Marine (+18%) showcasing hiring optimism in May ’23.

Hospitality & Travel, and Sales & Business Development Lead the Way in Hiring Trends

In terms of functional roles, Hospitality & Travel jobs continued to witness significant demand in May 2023, with a staggering YoY growth of 120% driven by international tourism and the holiday season. This economic recovery created an online demand for other job roles, such as Sales & Business Development (28%) and Marketing & Communications (16%) as well. A few of the other job roles that have showcased a robust YoY growth rate include Software, Hardware & Telecom (+3%), Engineering/ Production, Real Estate (+4%), Purchase/ Logistics/ Supply chain (+8%), Finance & Accounts (+8%) and HR & Admin (+12%).

The roles in Customer Service (-33%) registered the steepest monthly as well as annual decline and it was also the only sector to register negative growth among all monitored functions. Several reasons can be attributed to this including the advancements in technology that have led to the implementation of automated customer service systems such as chatbots and self-service portals. There have also been instances during challenging economic times, where businesses need to prioritise cost-cutting measures, resulting in a decrease in hiring across various job roles, including customer service.

The foundit Insights Tracker is a comprehensive monthly analysis of online job posting activity conducted by foundit. Based on a real-time review of millions of employer job opportunities culled from a large, representative selection of online career outlets, the foundit Insights Tracker (fit) presents a snapshot of employer online recruitment activity nationwide.

Period for the report

The period considered for the foundit Insights Tracker (fit) data is May 2022 Vs May 2023.

About foundit – APAC & Middle East

foundit, formerly Monster (APAC & ME), is a leading talent platform offering comprehensive employment solutions to recruiters and job seekers across APAC & ME. Since its inception, the company has assisted over 75 million registered users to find jobs, upskill, and connect with the right opportunities across 18 countries. Over the last two decades, the company has been a catalyst in recruitment solutions with advanced technology, seeking to efficiently bridge the talent gap across industry verticals, experience levels, and geographies. Today, foundit is committed to enabling and connecting the right talent with the right opportunities by harnessing the power of deep tech to sharpen hyper-personalised job searches, and precision hiring. foundit strongly believes that a job title doesn’t define one’s potential and leverages technology to dig deeper to curate opportunities central to the needs and aspirations of each user.

To learn more, about foundit in APAC & Gulf:

Visit: www.foundit.com.ph|www.foundit.my | https://www.foundit.in | https://www.founditgulf.com | https://www.foundit.sg | www.foundit.com.hk | https://www.foundit.id

Contact
Namrata Sharma
Namrata.sharma@adfactorspr.com
+6581383034

ICDM: Professionalising of Board Leadership and Directorship Key to Catalysing Performance and Excellence in Businesses

  • Sustained double digit year-on-year growth signals growing awareness and responsibility by senior leadership, companies and businesses to step up

The Institute of Corporate Directors Malaysia (ICDM) announced its progress and shared key organisational milestones for the financial year ended 31 December 2022 (FY2022), and for the period from January to April 2023 at their recent Annual General Meeting (AGM). The announcement is also in conjunction with ICDM’s 5-year milestone since the Institute was established in 2018.

Since inception in 2018, ICDM has seen sustained high double-digit organisational growth and continued to deliver impact through its platform and initiatives. In their efforts to professionalise boards and directors in Malaysia, the growth is indicative of the increasing awareness and acceptance of the need for senior leadership to build capacity in evolving and developmental areas to better guide companies and businesses. Notably, the key growth areas are as follows:

i. Membership: Individual membership has increased to 1,168 (25% higher compared to the preceding reporting period) whilst corporate membership has surged to 86 (30% increase from the preceding reporting period). Overall, the membership base has grown 13-fold and 8-fold respectively for individual and corporate membership, compared to when ICDM concluded its first-year performance in 2018. To contextualise, ICDM’s annual membership growth rate amongst other institutes of directors (IoD) in the region is second only to Australia and New Zealand.

ii. Director education programmes: Facilitated 112 programmes compared to 93 programmes in the previous reporting period, benefitting 6,705 participants which is 39% higher (from 4,830). In total, ICDM has facilitated 305 programmes to date and benefited 18,309 directors and participants.

iii. Board & Directors Effectiveness Evaluation (BDEE): Completed 20 external board and directors board evaluations, a 33% rise from the previous reporting period. To date, ICDM has conducted 37 BDEEs for companies and boards, of which 76% are public listed boards.

iv. Independent director sourcing requests and placements: In this reporting period, there has been a rise of 28% to 87 independent director sourcing requests and a total of 37 successful board placements by ICDM. Over this period since ICDM’s establishment, the total success rate in placing ICDM Members on boards is at 58, compared to 2 in 2018.

Tan Sri Zarinah Anwar, Chairman of ICDM emphasised ICDM’s unwavering efforts in professionalising directors, ensuring their capacity to uphold best practices in governance, shifting mindsets towards the continuing acquisition of knowledge and competencies for improved performance, proficiency and effectiveness.

She said, “The mandate for board directors as leaders is clear – navigate this complex environment, deliver positive impact, optimise opportunities, promote equity, and foster innovation. At ICDM, we recognise the challenges and complexity of the board’s multi-faceted role and the need for a proactive approach towards tackling change and problem-solving.”

This year, ICDM celebrates its 5-year milestone with the continued acceptance, participation and growth of its programmes, which can be attributed to the mind shift towards the need for ongoing knowledge and capacity building on the back of the Institute’s efforts in professionalising board and directorship. Today, the overall expectation of capability across all stakeholders – be it from an overall sustainability, diversity, equity, or inclusion perspective, has heightened the need for improved performance, proficiency and effectiveness of boards and directors. Against this backdrop, ICDM’s efforts and support to the director community will constantly evolve in tandem with the needs, and bringing together collaborative platforms and initiatives to problem solve, advocate and navigate the complex business environment.

Over the past five (5) years, ICDM’s capacity-building efforts and advocacy platforms are focused on strengthening board leadership for agile and responsible businesses in line with the Securities Commission Malaysia’s Corporate Governance Strategic Priorities (2017-2020 and 2021-2023). In 2022 alone, key initiatives undertaken by ICDM such as hosting of the second edition of the International Directors Summit entitled ‘The B-Factor: [Bold + Brave] Boards’ are testament to the growing awareness of companies and boards of the importance of staying ahead of the game as well as a sustainable, proactive leadership. On this front, ICDM has also been appointed as the sole provider of Bursa Malaysia’s Mandatory Accreditation Programme Part I (MAP) which equips directors with the necessary skills to excel in their roles.

Michele Kythe Lim, President & Chief Executive Officer of ICDM said, “As the only national IoD and a membership-based organisation, we remain true and committed to our mandate to build capable, purpose-driven board and directors, with the goal of elevating business performance and achieving good corporate governance. We have focused efforts to institutionalise and build responsible, proactive boards, by creating pathways and the right network for board directors to transition to a sustainable and future-focused leadership. At the same time, we want to catalyse the mindset shift to self-regulation at the board level. One thing is clear: the mindset shift is happening, and we see this demonstrated across the adoption of our initiatives and programmes, such as the placement of 33 women directors on boards in the reporting period alone; placement of first-time directors on the board of public listed companies (PLC), as well as the shift in board priorities and growing interest in areas that we considered ‘new’, from Sustainability or Environment, Social and Governance (ESG), innovation and digitalisation, talent, culture, cybersecurity, climate risks, amongst others. Today, ICDM is at a crossroads of our journey as an IoD, and as we enter the next phase of our growth, we will continue to prioritise and focus our efforts to catalyse performance and excellence in companies & businesses through a minimum benchmark of standards, as well as create positive community impact through high-performing boards, directors and leaders.”

ICDM will continue to deepen efforts in elevating directorship and board leadership through collaborative efforts with regulators, industry and IoD counterparts on mandatory, public and bespoke development programmes, as well as further enhancing MAP Part I. Notably, ICDM has recently been designated as the exclusive provider for the Securities Commission Malaysia’s (SC) Mandatory Accreditation Programme Part II: Leading for Impact (LIP), which will commence from August 2023, to enhance listed directors’ oversight of sustainability matters by providing them with advanced knowledge and tools. This is arising from the recent amendments to the Bursa Malaysia Listing Requirements which state that all existing and first-time directors of PLCs and ACE Market of Bursa Malaysia should attend the LIP. In addition, ICDM will also be hosting ASEAN+ IoD event, and in conjunction with the event, the launch of the 2024 ASEAN Board Trends Report. The Institute will also be launching two (2) research studies around Board and Senior Management Remuneration Practices in Malaysia and, Reimagining Leadership in a Hybrid World (Work 3.0), amongst others.

For more information on ICDM membership and how it can benefit the directorship journey, please visit https://icdm.com.my/. For more information on the recently launched MAP II: Leading for Impact (LIP) please visit https://lip.icdm.com.my/.

About the Institute of Corporate Directors Malaysia (ICDM)
The Institute of Corporate Directors Malaysia (ICDM) is a membership-based organisation whose mandate is to professionalise directorship in Malaysia. As the national institute of directors (IoD), ICDM is committed to providing continuous professional development – empowering boards and directors with forward-thinking mindsets, practical knowledge and essential competencies. Established by the Securities Commission Malaysia (SC) and supported by Bank Negara Malaysia, Bursa Malaysia and the Capital Market Development Fund (CMDF), ICDM’s goal is to be the leading influence of excellence in governance and to build a robust corporate governance culture in Malaysia.