What's that so called Sub-Prime Crisis?

The sub-prime crisis, started in 2007 in the US seemed to have nothing to do with us here in Singapore. But the debacle has taken its toll on us today. Everyone's livelihood in the world today is affected. So what on earth is Sub-Prime??

It looks like we can never get away with the saying: "When Uncle US sneezes, the world catches a cold".

Nonetheless, here is a good video clip which has made a complex story very simple to understand:

The Crisis of Credit Visualized from Jonathan Jarvis on Vimeo.

We are Hiring! (2)

The reponse of our job ad was quite overwhelming. Two positions were open; one for Admin and another for a Technical position. From the trend, it looks like the job market may not sound as dire as what's reported. Most applicants are still holding onto their current jobs. Perhaps they are looking for a switch. However, there are quite a number of fresh graduates applying for senior positions. I am not sure if this is a sign of desperation or just trying their luck. There were also a handful of applicants who apply for position which they do not have relevant experience. Beats me on their intention. Anyway, that is all I can share with you. For the rest of the activities, they are confidential.

You Justify Your Own Existence

Many people envy what I do, running a business of my own. During the bad years in my business, I used to envy those who had proper jobs. I used to think the working in the company as an employee is always the wisest and safest choice, just like what old folks like to say: "Study hard and you find a good job". Recently, I read an article from the papers of what an expat's view of Singaporeans. She said, Singaporeans are like tropcal fishes in a nice aquarium. The job of the fishes is to look good and survive well in the tank. As long as the owner takes care of maintaining the tank and feed the fishes well, the fishes will lead a good life. Comparing the fishes in the wild lakes and oceans, they are exposed to the countless of dangers and enviroment change. They have to learn to survive and only the fittest survive.

Thinking of this analogy really makes me feel the same way about typical Singaporeans, even as a Singaporean. Some Singaporeans who are in their job, gripe about their jobs, about the unfair benefits their employers provide and about the environment they are in. They do their jobs well and think the rest will take care of itself. I do not envy employees anymore as I feel each person justifies his own existence.

A company evolves from its own nature and the market they are in. It justifies its own existence and positon in the market. If it doesn't justify itself, it would be closed down after all.

When you work for a company, you justify your own existence. You should treat your job as a monthly business transaction with the company. Your salary and benefits are returns of your service to the company. The company is not a charitable organisation and does not owe you a living. If you don't like your job and do not contribute, sales or productivity will drop. You will lose your job eventually. It is an organic cycle.

Technorati Profile

We are Hiring!

I am advertising for some positions for my company this weekend. I will see what response will be like and assess the types of people who will apply. I will then have a better uderstanding on the current job market status. I expect our email account flooded with CVs. I will give you some updates next week.

What I Look for in a Job Applicant

I have run my company for 8 years now and have seen it grow from a 3-person company to a 25-person company today. Over the years, I have screened through thousands of CVs and have employed different types of people, both inexperienced and experienced. So what do I look out for in an application and a candidate?

Just imagine, each time we post for a position in the job portal or papers, we get tons and tons of email applications. I would classify these applicants into 3 broad categories: The Just-try-their-market-value-only, the Sincere ones and the quite Hard-up ones.

The Just-try-their-market-value-only applicant

These category of applicants are the most insincere ones who just want to see if there is any opportunity to change from their current jobs. They can be spotted by submitting their CVs which may not be relevant to the position advertised. Their CVs are always all ready to be sent out. Sometimes, their cover letter may even spot their intention with the wrong position in the title. It simply shows they have been conveniently submitting CVs to many companies. This category of applicants appear mostly in good times, when everyone is looking for career advancement.

The Sincere applicant

This category is of course the ones that employers seek. It is not easy to pick such CVs out. But putting effort in writing a good cover letter and concise CVs do help to play a part in catching the employer's attention.

Usually fresh graduates fall into this category as they have no working experience and are genuinely looking to start their career.

The Hard-up one

This category comprises those who are out of job or whose current job is in jeopardy. They are usually in the mid-career age and are married with children. Foreigners with work permit passes easily fall into this category because their permit expires within one month upon quitting their current job. These applicants come in hordes during bad times.

Tips to Landing an Interview:

1. Include your photo. Many people neglect this. Your photo is the first impression that the employer will get. A picture paints a thousand words.

2. Write a good and sincere cover letter. Write briefly about yourself and how you may be sutiable for the position.

3. Organise your CV layout well. Lay out your work experience in point form for easier reading. For each company you have worked for, you may want to classify the different projects that you have involved. Do not be too wordy because the employer has many other CVs to read.

4. To show your sincerity, you may want to be kaisu. Besides sending your application online, you may like to send a physical copy via snail mail. Remember, you are competing with hundreds of applicants out there. By sending another hard copy may give yourself more chance. It leaves greater impression of you if the employer has seen your email application and also received hard copy later. It also helps to create the impression of sincerity of the applicant.

5. Make a phone call to the company if you do not hear from them about 1 week after the closing date. Although it may sound bashful, it creates an impression to the employer. He may try recalling your application if you make the call. But don't overdo it. You may sound more like desperate than sincere.

For Those Fresh Graduates Looking for Jobs (2)

I graduated from UK with an Electronic Engineering Honours degree. It was in 1998; in the midst of the Asian Financial Crisis. The economy was in the doldrums. There were retrenchments everywhere. The Recruit section in the papers got thinner by the day. I took it easy for the first 2 months after I came back to adjust myself back to the climate and lifestlye. When I got serious in hunting for a job, I began to realize the dire state of the economy. I went to job agencies, cutting out recruitment ads and sending countless CVs, and even perfecting my resumes. My pride of being a new university graduate faded by the day when no employer seemed to be interested in me. Either there were long queues at walk-in interviews or my sent-in CVs never seemed to bring any response. I started to adopt a new strategy after much thought. The mainstream job-seekers would go for the Recruit section in the Straits Times. Instead of following the crowds who aim to join MNCs and government agencies, I decided to look into the Classified section instead. I started to look for the smallest possible ad that I think hardly anyone noticed. True enough, after sending my CV to 2 companies, I was called for interviews. I was estatic. Both were local SME companies. One was in the M&E industry for a site Electrical Engineer and the other was for a System Development Engineer. After both interviews, thanks to my good presentations, I was called up again for 2nd interview by both companies. Eventually, I was offered a job by each company. I suddenly felt spoilt for choice. Nonetheless, after much consideration, I took up the 2nd offer. It was a humble setup with about 30 staff. From there on, I never looked back and started my career there. Although I didn't stay for long in the company, it was a great springboard in my career and I joined a big MNC after gaining some working experience.

Growing up from bad times have trained me not to take things for granted. It is always good to start from ground zero so that your fundamentals are well founded. When the times turn for the better, you will be the first to benefit. To the fresh graduates who are seeking jobs today; don't be discouraged. When there's a will, there's a way. Be humble and work your way hard to land a job. It's not a time to be fussy anymore.

For those Fresh Graduates Looking for Jobs

I had been invited for various talks in universities and polytechnics. I spoke to aspiring students and graduands who are ready to enter into the working world. I hear the woes from these young people and urge me to post some comments here. Looking at the outlook of the economy, landing on a job is really tough. Each job posted in the ads, has thousands of CVs pouring in, each screaming for attention. Even jobs which only require fresh graduates, applicants with many years of experience also come knocking. I just recall that I posted for a temporary IT position recently. Since it was just a position for 3 months, I put in the Straits Times Classified, as small as possible to save money, and it was a walk-in interview. Guess what? More than 30 people turned up at my office! Almost all of them armed themselves with beautiful CVs and university certificates. Although I was spoilt for choice, they were mostly foreigners, whom I can't hire for such short timespan. These people who are genuinely well equipped with knowledge and experience, and most importantly not asking for high pay. So for those aspiring job-seekers, you have to lower down your expectations. I can share with you my own experience as a new graduate 11 years ago, what I went through and the lessons I learnt. Also, as an employer today, what I expect and would look out for in an applicant.

Stay Sane Amidst the Gloom

This crisis came like a tsunami, in the midst when everyone was enjoying a prosperous time. It is unimaginable that just a year ago, stock market was still vibrant, people were enjoying their year end bonuses and retail shops enjoying their ringing sales. Everything seems to come to almost a standstill now. In the 5 stages of Grief; Denial, Anger, Bargaining, Depression and Acceptance. After last October's financial debacle and stock market going into a tailspin, most people were in the state of Denial and Anger. Whatever happened in the US seemed only distant news to many people who still hoped things would not overflow to Asia. The full impact of the financial fallout was not felt immediately because most of us were still not out of job. At the back of people's mind, they say to themselves "This won't happen here and won't happen to me". That's called Bargaining. Today, people are feeling the real impact of the economic crisis. People are losing jobs, stock market value has gone down more than 50% from its peak. People have come to terms that the crisis is real and present. I have known of some people who have slipped into depression because of the stress to keep their jobs or the financial burden in their lives. My advice is, to stay sane amidst this crisis. Only the right mind can help you manage things. The most powerful part of a person is the mind. There's a saying: "What the mind perceive is what you will conceive". It is only from a sane and clear mind, you will then be able to think and manage problems.

Winner of several accolades

A success story of Entrepreneurship

Top 15 Entrepreneur of the Year 2006

The global financial downturn has allowed me take a step back to ponder how much I have gone through in the years of my career and also look what lies ahead for me. I graduated in a year amid the Asian Financial Crisis in 1998, very much in the same predicament what today's graduates are facing. While I was building my career as an Engineer, I decided to take the plunge and started a business with 2 friends in early 2001, not knowing the following few economic crises would come tumbling down one after another. There was the Dotcom crash in 2001, 911 bombing, Iraq war and Sars in 2003. Weathering through so many economic crises in such a short span of 10 years is by no mean feat, especially when you are running a small-medium business. Today, I have emerged a better person and more importantly, financially comfortable despite the current worst ever global crisis. It seems like in each crisis, no one has a crystal ball or a magical idea to tell you when the world is going to emerge from it; not even the man heading the top post of the world or that top financial guru. For those like-minded friends out there or those people feeling the blues of the economic gloom, I hope my blog will bring you some comfort and encouragement, and help you look beyond the dark tunnel ahead.