employment law changes: six things employers need to know

Laura Chamberlain 05 January 2011 09:52

Every year brings with it a raft of new regulations for the employer to negotiate. Whether it's retirement, agency workers, bribery or equality legislation, this year presents new legislation relevant to all organisations. Read our guide to the six key updates to make sure you are ready for the year ahead.

This article was updated on 14 September 2011 Although this article was first published in January, the content has been updated to make sure the information and resources are up-to-date. A full list of key employment law dates in 2011 is available here.

1. Abolition of the default retirement age
One of the biggest legal changes employers will have to contend with in 2011 is the abolition of the default retirement age (DRA). Transitional arrangements for the removal of the default retirement age in the UK are now in force, which mean that employers can no longer issue new notifications of retirement using the default retirement age.
If an employer wishes to operate a compulsory retirement age after the default retirement age is abolished, they will need to objectively justify it.
View our employer's guide to the Default Retirement Age, where you can find all the latest news and guidance on the subject, to make sure you are ready for the changes.

• What is the timetable for the abolition of the default retirement age?
• How will employers deal with retirement after the abolition of the default retirement age?
• Will employers still be able to operate a compulsory retirement age after the abolition of the default retirement age?
• After the abolition of the default retirement age, employers will have to justify objectively having a compulsory retirement age. What does this mean?

2. Changes to maternity and paternity leave provisions
In April, there were two changes to maternity and paternity leave provisions.
Fathers of children with an expected week of birth beginning on or after 3 April 2011 are now allowed up to 26 weeks' additional paternity leave in the first year of the child’s life if the mother has returned to work from maternity leave.
On the same date, the rates for statutory maternity, paternity and adoption pay increased from £124.88 to £128.73 per week.

• Which employees will be able to benefit from the new right to additional paternity leave?
• Which employees qualify for additional paternity leave?
• Can an employer ask an employee for proof that he or she qualifies for additional paternity leave?
• Apart from the right to statutory maternity leave what other statutory rights do pregnant women and new mothers have?
• What notice of the date that she wants her statutory maternity pay to begin does an employee have to give?

3. Equal treatment for agency workers
From 1 October 2011, agency workers will be entitled to equal treatment on basic employment conditions, such as pay and holidays, after they have worked in a role for 12 weeks, under the Agency Workers Regulations 2010.
Agency workers will also be entitled to the same access to job vacancies and collective facilities, such as staff canteens, childcare facilities and transport services, as permanent members of staff from the first day of their assignments.
Read our guide to the 5 things employers need to know about the Agency Workers Regulations.
4. Equality Act 2010
Since 6 April 2011, employers have been able to treat individuals with a protected characteristic more favourably during recruitment and promotion processes when faced with two candidates of equal merit, if the more favourable treatment is intended to address under-representation in the workforce.
The single public sector equality duty was also introduced in April and specific public sector equality duties which require public bodies to publish equality information and objectives came into force on 10 September 2011.
Find more resources on the Equality Act on XpertHR.
5. Bribery Act 2010: corporate offence introduced
On 1 July 2011, the Bribery Act 2010 came into force, which introduced a corporate offence of failing to prevent bribery by people working on behalf of the business.
An organisation can defend themselves against this offence if it can show that it had "adequate procedures" in place designed to prevent bribery.
The Bribery Act was originally due to come into force in April, but the Government delayed it to allow time for a review of the guidance.

Find all the latest news and guidance on the Bribery Act here.
6. Right to request flexible working extension
The extension of the right to request flexible working to parents of children under the age of 18 has been repealed and will not come in on 6 April 2011. It currently applies to parents of children under the age of 17, or 18 if the child is disabled.
The Government has also announced that it intends to extend the right to request flexible working to all employees and has consulted on the proposals. The Government will review the responses by December 2011.

• Do employees have the automatic right to change to a more flexible working pattern?
• How should an employer respond to a request for flexible working?
• What information should an employee's request for flexible working under the statutory procedure contain?
• Where a statutory application for flexible working is acceptable as it stands, is the employer obliged to arrange a meeting to discuss the request?
• In what circumstances can an employer reject a request for flexible working?

For a full list of key employment law dates in 2011, read the XpertHR guide. Ref:http://www.personneltoday.com

Six employers charged with defaulting on salaries!

by Alvina Soh

04:46 AM Sep 28, 2011

SINGAPORE - Six employers from various industries were charged in the Subordinate Courts yesterday with not paying their workers' salaries.

A cleaning company, Service Partners, faced the most number of charges. They allegedly defaulted on salary payments and had also been making unauthorised deductions from their workers' salaries since early last year.

The company and its director, Jufri Saini, each faced 136 charges under the Employment Act.

The court heard that about 70 workers were affected and the total amount involved was more than S$67,000.

The Ministry of Manpower (MOM) has assisted 51 workers in recovering their salary arrears, and 37 had received full compensation.

Five other employers were also charged with similar offences. These included directors and sole proprietors from the travel, telemarketing, and food and beverage sectors. The total amount of money unpaid varied between S$3,000 and S$28,000.

Two employers, including Jufri, told the court they were bankrupt. All six will be back in court next month.

It is an offence under the Employment Act for an employer not to pay salaries for work done within seven days after the salary period, or within three days from the termination of the contract of service. First-time offenders can be fined up to S$5,000 and jailed for six months. ALVINA SOH

Ref:itoady news

Fresh Grad Salary in Singapore 2011!

Written on June 20, 2011 by Salary Singapore in Salary Guide
Many fresh graduates in Singapore or studying abroad leave polytechnics or universities around the middle of the year. In this survey conducted around Sep 2010, Hay Group’s Fresh Graduate Pay survey for 2010 published their results from the survey of about 90 companies in Singapore. The forecast of the fresh grads’ average starting salary range indicated that Diploma holders can expect to earn S$1,784, Degree holders should earn S$2,418 and Masters graduates will probably earn S$2,820.
These findings are based on the results of the following 6 industries, including jobs from the law, engineering, IT & Telco, R&D, logistics & supply chain and finance & accounting professions.

 

Average Fresh Graduates Starting Pay in Singapore for 2011 (Forecast)

Fresh Grad Jobs	Diploma Graduate Starting Salary	Degree Graduate Starting Salary	Masters Graduate Starting Salary
Legal	1,872	2,392	2,729
Engineering	1,830	2,607	2,886
IT & Telecommunications	1,835	2,536	2,828
Research & Development	1,826	2,527	2,842
Logistics & Supply Chain	1,752	2,332	2,625
Finance & Accounting	1,738	2,400	2,748
Average for all jobs	1,784	2,418	2,820

Mr Victor Chan, Country Head of Reward Information Services, Hay Group Singapore, had this to say:

With the recovery this year, employers have upped the salary stakes for finding the best talent from this year’s graduating classes. However, due to uncertainties in the global economy, companies are more
cautious when forecasting starting pay for graduates in 2011. Starting salaries in 2011 are likely to drop for
Bachelor and Masters degree-holders. In contrast, starting salaries for diploma holders are more resilient,
showing an increase.

NTU recently announced that among its 2011 cohort of fresh graduates, there were a few degree holders who are earning starting pay of more than S$10k, with one NTU grad earning a top salary of S$20k.

Ref:www.salarysingapore.com

Joke: How to Ask for Salaries Increase!

Negotiating for a salaries pay raise or wage increment can be difficult for those without experience. Here is a funny way you can adopt to fight for the pay increase from your company, but beware of the consequences!

Letter asking for pay increment

Dear Bo$$,
There are many important thing$ in life, but to ordinary employee$ like me, we require $ome thing mo$t de$perately to $urvive in thi$ economy. I think you will be under$tanding of the need$ of u$ worker$ who have given $o much $upport, $weat and $ervice to your firm.
I am $ure with your intellect, you will gue$$ what I mean and re$pond favourably.
Your$ $incerely

Letter from your boss

The next day, you may receive this type of reply instead:
Dear colleague,
I kNOw you have been working very hard. However despite the improving ecoNOmy, NOthing much has changed for our company. In fact, you must have NOticed that our company is NOt doing NOticeably well as yet.
NOw the newspapers are saying that leading ecoNOmists canNOt be sure if the world may go into aNOther recession. In fact, things may turn bad in NOvember.
I have NOthing more to add NOw. You kNOw what I mean.
Yours truly, Boss

Ref:http://www.salarysingapore.com

Overview of Selected Jobs / Occupations from all Industries in Singapore for 2010

MOM published its 2011 edition of the Singapore report on wages on Jun 2011.
This annual survey by the Government provides a sensing of Singapore’s job market in 2010. The results provide many useful statistics including a view of the basic monthly pay of selected occupations in all industries for 2010. The following tables provide information of the average monthly salary, salary at the 1st quartile (25th percentile), median salary (50th percentile) and 3rd quartile (75th percentile).

 

Singapore Selected Jobs / Occupations from all Industries	Average Salaries	First Quartile	Median Salaries	Third Quartile
MANAGERS	7,892	4,200	6,000	9,221
PROFESSIONALS	4,745	3,150	4,000	5,405
ASSOCIATE PROFESSIONALS AND TECHNICIANS	3,084	2,015	2,600	3,350
CLERICAL SUPPORT WORKERS	1,987	1,500	1,850	2,310
SERVICE AND SALES WORKERS	1,438	980	1,320	1,680
AGRICULTURAL AND FISHERY WORKERS	1,473	1,200	1,600	1,600
CRAFTSMEN AND RELATED TRADES WORKERS	1,904	1,400	1,790	2,300
PLANT AND MACHINE OPERATORS AND ASSEMBLERS	1,497	978	1,380	1,850
CLEANERS, LABOURERS AND RELATED WORKERS	976	700	850	1,200

Top 100 Jobs / Occupations in Singapore for 2010

The top 100 jobs are ranked based on the average monthly salary.

Rank	Singapore Top 100 Jobs / Occupations	Average Salaries	First Quartile	Median Salaries	Third Quartile
1	Managing director / Chief executive officer	17,661	8,000	13,733	22,910
2	Trade broker (including oil and bunker trader)	16,165	8,500	16,680	23,166
3	Commodities derivatives broker	12,977	9,000	13,462	17,693
4	Chief operating officer / General Manager	12,922	7,825	11,435	15,930
5	Financial derivatives dealer / broker	12,424	5,400	13,750	16,333
6	Risk analyst (financial)	11,787	5,708	8,750	15,092
7	Company director	11,434	6,054	9,583	14,756
8	Foreign exchange dealer / broker	11,195	5,859	9,340	13,334
9	Financial / Investment adviser	11,152	5,000	8,358	15,348
10	Fund manager	11,010	6,282	11,000	16,000
11	Diagnostic radiologist	10,423	3,683	4,639	17,650
12	Lawyer (excluding advocate and solicitor)	10,275	6,161	8,376	12,052
13	Creative director (advertising)	9,945	5,500	7,200	14,000
14	Financial / Insurance services manager	9,754	5,300	7,530	11,452
15	General practitioner / physician	9,605	8,000	8,900	10,100
16	Treasury manager	8,832	5,350	7,464	10,610
17	Marketing and sales representative	8,688	3,800	5,000	7,000
18	Information technology project manager	8,338	6,225	8,000	10,342
19	Customer service manager	8,130	4,098	5,800	9,425
20	Network and communications manager	8,020	5,542	6,800	9,537
21	IT service manager	7,633	5,260	6,672	8,885
22	Advocate / Solicitor	7,630	4,500	5,850	8,500
23	Policy and planning manager	7,563	4,900	6,458	8,700
24	Software and applications manager	7,505	5,450	6,952	8,334
25	Business development manager	7,228	4,524	6,089	8,700
26	Database architect	7,169	5,147	5,847	9,600
27	Chief information officer / Chief technology officer	7,130	5,100	6,498	8,250
28	Human resource consultant	7,105	4,280	5,782	7,941
29	Budgeting and financial accounting manager	7,091	4,800	6,266	8,395
30	Legal officer	7,071	3,800	5,225	8,850
31	University, polytechnic and higher education teacher	6,996	4,100	7,100	8,700
32	Research and development manager	6,898	4,640	6,188	8,718
33	Technical / Engineering services manager	6,878	4,680	6,300	8,500
34	Human resource manager	6,660	4,392	5,800	8,000
35	Quality assurance manager	6,398	4,300	5,732	8,096
36	Procurement / Purchasing manager	6,226	4,250	5,600	7,475
37	Wholesale trade manager	6,143	4,045	5,149	7,280
38	Management and business consultant	6,055	3,900	5,150	6,983
39	Hydrographic surveyor	6,039	4,566	5,768	7,450
40	Producer / Director of commercials	6,023	3,000	6,400	7,992
41	Sales and marketing manager	5,923	3,901	5,000	6,867
42	Insurance underwriter	5,756	3,076	3,927	5,656
43	Manufacturing plant / production manager	5,720	3,989	5,200	6,981
44	Transport operations manager	5,698	4,000	5,080	6,825
45	Administration manager	5,661	3,730	5,000	6,584
46	Health services manager	5,629	4,300	5,200	6,400
47	Medical scientist	5,553	3,515	5,061	6,009
48	Advertising / Public relations manager	5,487	3,800	4,800	6,550
49	Building architect	5,450	3,800	4,650	6,050
50	Dentist	5,444	3,300	3,660	6,800
51	Chief / executive cook	5,426	3,599	5,036	6,800
52	Financial analyst (eg equities analyst, credit analyst)	5,376	3,750	4,500	5,946
53	Auditor (accounting)	5,344	3,400	4,200	6,396
54	Chemical engineer	5,215	3,504	4,805	6,480
55	Supply and distribution / Logistics / Warehousing manager	5,159	3,500	4,500	6,202
56	Premises and facilities maintenance manager	5,143	3,570	4,600	5,992
57	Information technology testing / quality assurance specialist	5,133	3,626	4,501	6,829
58	Network / Infrastructure architect and engineer	5,130	3,397	4,200	5,750
59	Pharmacologist	5,095	3,340	3,790	6,854
60	Building and construction project manager	5,068	3,600	4,700	6,000
61	Database administrator	4,909	3,391	4,639	6,000
62	Information technology security specialist	4,880	3,290	4,525	5,697
63	Ships’ engineer	4,854	2,242	4,000	7,500
64	Materials engineer	4,832	3,885	4,848	5,949
65	Telecommunications engineer	4,809	3,800	4,700	5,679
66	Call centre manager	4,796	3,004	3,800	5,065
67	Applications / Systems programmer	4,783	3,256	4,222	5,834
68	Systems analyst	4,725	3,494	4,370	5,500
69	Petroleum / Natural gas engineer	4,668	3,075	3,650	6,069
70	Industrial safety engineer	4,654	3,325	4,500	5,578
71	Market research analyst	4,623	3,088	4,000	5,209
72	Credit and loans officer	4,553	2,800	3,731	5,083
73	Statistical, mathematical and actuarial associate	4,397	3,332	4,165	4,921
74	Journalist	4,395	2,669	3,071	5,352
75	Electrical engineer	4,389	3,265	4,050	5,028
76	Food and drink technologist	4,370	2,691	3,158	6,163
77	Industrial and production engineer	4,357	3,119	3,854	5,113
78	Technical writer	4,341	2,900	4,110	4,938
79	Civil engineer	4,325	3,081	3,950	5,000
80	Artistic director (stage, film, television and radio)	4,322	3,225	3,700	5,425
81	Chemist	4,275	2,860	3,632	5,000
82	Electronics engineer	4,262	3,200	3,840	4,935
83	Specialist medical practitioner (medical)	4,220	2,690	3,600	4,085
84	Surveyor	4,199	2,808	4,000	4,655
85	Producer (stage, film, television, computer games, video and radio)	4,191	2,700	3,767	5,550
86	Network / Computer systems administrator	4,154	3,000	3,808	4,997
87	Aged care services manager	4,136	3,800	4,153	4,629
88	Software, web and multimedia developer	4,076	3,100	3,520	4,700
89	Advertising copywriter	4,064	2,800	3,650	4,438
90	Education manager	4,056	2,300	3,000	4,810
91	Sports centre manager	4,044	3,000	3,400	4,160
92	Mechanical engineer	4,040	2,910	3,606	4,645
93	Environmental engineer	4,006	3,000	3,885	4,500
94	Arts and cultural centre manager	3,978	3,058	4,267	4,600
95	Accountant	3,949	3,000	3,946	4,500
96	Quantity surveyor	3,808	2,950	3,500	4,300
97	Air transport service supervisor	3,787	3,535	3,721	3,955
98	Pharmacist	3,739	3,031	3,833	4,500
99	Postal service manager	3,695	2,600	3,066	4,350
100	Translator	3,684	2,812	3,494	4,134

Refer to the 2010 Salary Guide in Singapore and the Top 100 Jobs, or check out the quarterly survey of the 2011 average salary in Singapore.

Ref:http://www.salarysingapore.com

Salary in Singapore Survey

Salary in Singapore Survey: Median Gross Monthly Income from Work – Full-Time Employed Residents 15 years old and above – By Highest Qualification, Age and Sex – June 2010

Gross Monthly Income from Work defined: This refers to the total amount of income earned from employment during the full calendar month preceding the date of the interview. For employees, this would include wages or salaries, allowances, overtime, commission, tips and bonuses. It would also include the employee’s Central Provident Fund contribution but not the employer’s contribution for the employee. For employers and own account workers, it refers to the total receipts from sales and services performed less the business expenses incurred.

Sex / Age (Years)	Total	No Formal Qualification / Lower Pri	Primary	Lower Sec	Secondary	Post-Sec	Diploma & Professional Qualification	Degree Graduates
Total	2,710	1,120	1,400	1,610	2,170	2,200	3,000	5,000
15 – 24	1,600	-	-	1,050	1,200	1,200	1,730	2,600
25 – 29	2,710	-	-	1,520	1,750	1,800	2,400	3,500
30 – 39	3,490	1,300	1,400	1,730	2,250	2,250	3,080	5,200
40 – 49	3,000	1,300	1,500	1,670	2,380	2,710	4,120	7,280
50 – 59	2,170	1,200	1,370	1,600	2,330	2,980	4,830	8,170
60	1,500	940	1,200	1,500	2,000	2,500	4,500	7,500
& above
Males	2,920	1,400	1,510	1,800	2,200	2,300	3,250	5,750
15 – 24	1,500	-	-	1,150	1,200	1,300	1,800	2,700
25 – 29	2,710	-	-	1,600	1,800	1,870	2,490	3,500
30 – 39	3,630	1,750	1,500	2,000	2,400	2,250	3,200	5,480
40 – 49	3,250	1,580	1,730	1,950	2,500	2,710	4,500	7,880
50 – 59	2,380	1,500	1,530	1,800	2,380	2,860	5,000	8,750
60	1,630	1,000	1,300	1,500	2,000	2,500	4,670	7,500
& above
Females	2,500	920	1,040	1,300	2,080	2,050	2,710	4,380
15 – 24	1,630	-	-	1,000	1,210	1,200	1,700	2,600
25 – 29	2,710	-	-	1,500	1,630	1,730	2,380	3,500
30 – 39	3,250	1,000	1,190	1,500	2,170	2,190	3,000	4,880
40 – 49	2,710	1,000	1,100	1,300	2,220	2,860	3,750	6,170
50 – 59	1,950	1,000	1,000	1,260	2,290	3,050	4,330	7,480
60	1,130	800	980	1,130	2,040	2,600	4,110	6,250
& above

<>Singapore Salary Differences: Men’s Salary Compared to Women’s Salary

<>

Sex / Age (Years)	Total	No Formal Qualification / Lower Pri	Primary	Lower Sec	Secondary	Post-Sec	Diploma & Professional Qualification	Degree Graduates
Man vs Woman	17%	52%	45%	38%	6%	12%	20%	31%
15 – 24	-8%	-	-	15%	-1%	8%	6%	4%
25 – 29	0%	-	-	7%	10%	8%	5%	0%
30 – 39	12%	75%	26%	33%	11%	3%	7%	12%
40 – 49	20%	58%	57%	50%	13%	-5%	20%	28%
50 – 59	22%	50%	53%	43%	4%	-6%	15%	17%
60	44%	25%	33%	33%	-2%	-4%	14%	20%
& above

In the meantime, check out the previous year’s top 100 average ranking of Salaries in Singapore 2010 Guide or see the average 2011 salary in Singapore.

Ref:http://www.salarysingapore.com/

FPA Releases 2010-2011 financial planner salary Survey

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Despite a tough job market, nearly half of financial planning firms report they plan to hire additional staff in the next 12 months. That's one of the findings in the latest salary survey conducted and released by the Financial Planning Salary

The 2010-2011 Financial Planning Salary Survey is a research study that details compensation and benefits, job characteristics and functions, and retention and turnover rates for 22 financial planning positions nationwide.
This year, the survey also compared male and female salaries and found that women working as a senior financial planner make about 96% of what their male counterparts earn, and junior financial planners make 95% for every dollar their male counterparts earn. This compares with a report rom the U.S. Bureau of Labor Statistics reveals that women who work full-time make 80% when compared with their male counterparts.
"The 2010 financial planner salary Survey reflects interesting trends for the financial planning profession," said Marv Tuttle, executive director and CEO of the Financial Planning Association, in a prepared statement. "As the profession continues to expand and grow, the survey is a valuable practice management tool to help advisers analyze where their practice or firm ranks locally and nationally, and evaluate and plan their business accordingly."
Additional survey findings include:

1. l Student and Career Changer Expectations - The majority of college students plan to begin a career as a junior financial planner and expect to earn $52,500 each year. The survey reports that junior financial planners with one to three years experience earn about $48,500 each year.
2. l Loyalty pays off - Financial planners earn more in annual salary, benefits and bonuses the longer they're with a specific firm.
3. l Nearly half of financial planning firms report they plan to hire additional staff in the next 12 months.

Ref:fiplanner.blogspot.coms

How to Find The Financial Planning certificate

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Globalization has changed the whole scenario, financial statements, and now all interested in saving money. We have a number of problems encountered in everyday life, the value of monthly budget imbalance. Help stress. Sort the best source of the problem to find a certified planner. Demand for certified financial consultant quickly. Each is best to use his property, and to make financial resources. Only choice.

Certified financial level Advisoring tough nut to quick-witted, but ability to assess the successes and opens all the doors. Many of CFP certification course provider has the right to seek and to know that some things should be before the body of the seminar. Discussed below are presented in the source selection process and the benefits associated with GFP was found.

Solution must be found to universities involved, "qualified school" is that the accreditation body approved by the Ministry of Education has recognized, as recognized by the course content subscription to the online survey to compare the costs of education for the academic style, and then analyzed to compare the selection of appropriate sources increased, and take the CFP certification.

Quick and clients, employers and colleagues to honor the reliability of the offers. Other financial planning activities of the powerful competitive advantage. Sophisticated financial planning skills and thorough analysis of knowledge. Certified financial adviser will not be considered as part of a global network of specialists. All these astronomical events approved by the United Financial Advisor.
Certified financial planning in different roles, not only economic and social security benefits, pensions, real estate and tax planning, insurance planning and risk management planning project. All development and tremendous potential for huge profits strong.

To teach doctors in your family can be a great career heights. The right choice for selecting and training support to the evaluation of some aspects of the certification is important to remind the financial consultant.

Advantage certified financial planning education, skills, certification, customers, market shares and other investment tools, experience, and will depend on many factors.

No insurance and bonuses, shares, bonds and mutual funds can be sold - but only in different global strategies of financial planning can add value to your financial security.

CAP in order to better understand the formation of an argument, so you can understand the importance of moving forward. Online access to multiple sites and addresses are available 24 / 7 with years of experience, to enter all the required data.

Certified Financial Planner certification valuable financial planning for the Certified Financial Planner Board of Standards in the United States to provide financial planning and other organizations around the world, expectations related to the company internationally recognized.

GFP license to start taking care of all the above points further career prospects and lead to more effective use, you can see above. CFP Certification Education Best Buy is characterized by progressive and bright future.

If you are interested in how to best financial planning certified financial planning Certified Financial Planner approved for financial planning, to provide you with the best deals. SFS financial planning, which led to VS Financial Planner Board of Standards is attached to the certification proposals.

 

Ref:fiplanner.blogspot.com

Certified Financial Planner Course

 

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Globalization has changed the whole scenario, financial statements, and now all interested in saving money. We have a number of problems encountered in everyday life, the value of monthly budget imbalance. Help stress. Sort the best source of the problem to find a certified planner. Demand for certified financial consultant quickly. Each is best to use his property, and to make financial resources. Only choice.

certified financial planner level Advisoring tough nut to quick-witted, but ability to assess the successes and opens all the doors. Many of CFP certified financial planner course provider has the right to seek and to know that some things should be before the body of the seminar. Discussed below are presented in the source selection process and the benefits associated with certified financial planner course was found.

Solution must be found to universities involved, "qualified school" is that the accreditation body approved by the Ministry of Education has recognized, as recognized by the course content subscription to the online survey to compare the costs of education for the academic style, and then analyzed to compare the selection of appropriate sources increased, and take the certified financial planner course certification.

Quick and clients, employers and colleagues to honor the reliability of the offers. Other financial planning activities of the powerful competitive advantage. Sophisticated financial planning skills and thorough analysis of knowledge. Certified financial adviser will not be considered as part of a global network of specialists. All these astronomical events approved by the United Financial Advisor.
certified financial planner course in different roles, not only economic and social security benefits, pensions, real estate and tax planning, insurance planning and risk management planning project. All development and tremendous potential for huge profits strong.

To teach doctors in your family can be a great career heights. The right choice for selecting and training support to the evaluation of some aspects of the certification is important to remind the financial consultant.

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Ref:fiplanner.blogspot.com

S'pore to groom IT security experts

http://www.channelnewsasia.com/video/index.php

By Saifulbahri Ismail | Posted: 27 September 2011 1125 hrs

SINGAPORE: Three tertiary institutions are enhancing their collaboration with the Ministry of Home Affairs (MHA) to prepare the next generation of IT security professionals.

It covers a wide spectrum, from developing courseware for IT security modules to undertaking joint research projects.

The collaboration was sealed on Tuesday with the signing of three Memorandums of Understanding (MOU).

It involved the National University of Singapore (NUS), Singapore Management University (SMU) and Temasek Polytechnic (TP), together with the Singapore Infocomm Technology Security Authority (SITSA), an agency under the ministry.

TP is launching a Centre of Digital Security Investigations, which will provide a practical training ground for students to be trained in the areas of incident response, monitoring and artefact analysis.

In addition, SMU's School of Information Systems is tying up with the ministry to develop a new undergraduate course on information security management.

Another initiative the SITSA has embarked on is the setting up of cyber security labs.

The labs will provide a realistic environment for students to learn first-hand the latest IT security defences.

Speaking at GovernmentWare 2011 -- an IT security seminar -- Minister of State for Home Affairs and Foreign Affairs Masagos Zulkifli said there has to be a strong pool of experts who can defend Singapore's cyber landscape.

"Cyber attacks or cyber terrorism are a relatively new phenomenon not only in Singapore but around the world, and therefore building the expertise and capabilities in our own industry is very important," Mr Masagos said.

"We certainly have people who can do this, but what we need to do is to replicate more of them, not only in terms of quantity but also to enable them to understand how to anticipate future attacks."

GovernmentWare 2011 features an exhibition showcasing the latest solutions and products developed to enhance IT security.

The three-day exhibition is attended by more than 50 organisations from both the public and private sectors.

-CNA/wk

- Posted using BlogPress from my 4GiPhone

S'pore to groom IT security experts

By Saifulbahri Ismail | Posted: 27 September 2011 1125 hrs

SINGAPORE: Three tertiary institutions are enhancing their collaboration with the Ministry of Home Affairs (MHA) to prepare the next generation of IT security professionals.

It covers a wide spectrum, from developing courseware for IT security modules to undertaking joint research projects.

The collaboration was sealed on Tuesday with the signing of three Memorandums of Understanding (MOU).

It involved the National University of Singapore (NUS), Singapore Management University (SMU) and Temasek Polytechnic (TP), together with the Singapore Infocomm Technology Security Authority (SITSA), an agency under the ministry.

TP is launching a Centre of Digital Security Investigations, which will provide a practical training ground for students to be trained in the areas of incident response, monitoring and artefact analysis.

In addition, SMU's School of Information Systems is tying up with the ministry to develop a new undergraduate course on information security management.

Another initiative the SITSA has embarked on is the setting up of cyber security labs.

The labs will provide a realistic environment for students to learn first-hand the latest IT security defences.

Speaking at GovernmentWare 2011 -- an IT security seminar -- Minister of State for Home Affairs and Foreign Affairs Masagos Zulkifli said there has to be a strong pool of experts who can defend Singapore's cyber landscape.

"Cyber attacks or cyber terrorism are a relatively new phenomenon not only in Singapore but around the world, and therefore building the expertise and capabilities in our own industry is very important," Mr Masagos said.

"We certainly have people who can do this, but what we need to do is to replicate more of them, not only in terms of quantity but also to enable them to understand how to anticipate future attacks."

GovernmentWare 2011 features an exhibition showcasing the latest solutions and products developed to enhance IT security.

The three-day exhibition is attended by more than 50 organisations from both the public and private sectors.

-CNA/wk

S'pore leaps to 3rd place in study on competitiveness of IT market

by Tan Weizhen 04:47 AM Sep 28, 2011

SINGAPORE - Singapore has leaped to third place in a study that ranks the competitiveness of 66 economies in the information technology (IT) market.

In its best showing since this study by the Economist Intelligence Unit (EIU) began in 2007, the Republic jumped six places. The United States and Finland snagged the top two spots.

The EIU's IT Industry Competitiveness 2011 Index attributed the improved ranking to inroads in Singapore's research and development environment, with two-thirds of the world's top 100 IT companies based in Singapore. The Republic took fifth place globally for this area.

It also listed two other areas that Singapore has done well in - its support for IT industry development, and human capital environment, which takes into account the number of students in higher education, people enrolled in the IT sector and quality of skills here. Singapore was deemed to have "vastly improved" in the latter indicator.

Besides these three indicators, countries were ranked based on their overall business environment, IT infrastructure and legal environment.

In jumping to third spot, Singapore surpassed countries such as the United Kingdom, Australia and Sweden. Malaysia and India were two other countries which also saw their rankings rise by 11 and 10 spots, respectively. For Malaysia, it was due to its surge in R&D activity, and India improved on the human capital development front.

Countries that saw a drop in ranking included China and Canada, due to their poor record in managing intellectual property rights. Iran took bottom spot.

The study noted that the competitive environment in the IT sector is heating up globally and countries have to continually invest in IT to hold steady. The US, despite its economic turmoil, still achieved top position due to its foundation built up through years of investments, said the study.

"As the global economy starts to recover, it is more important than ever for governments to take a long-term view of IT industry development,"said Mr Robert Holleyman, president of Business Software Alliance, which published the report.

"Policy-makers cannot not just look at this issue on an annual basis or they risk being left behind. They must assess the next seven to nine years, and invest accordingly, in order to make substantive gains in IT competitiveness."

-Ref:itoday n ews-Posted using BlogPress from my 4GiPhone

Manulife Fourth Quarter Profits Driven By Results In Asia

By Thomas | Published February 15, 2011

The Toronto-based insurance company Manulife Financial Corporation has reported a positive turnaround in profitability in the fourth quarter of 2010. Earnings totaled close to US$1.8 billion, helped by sales in the burgeoning Asian region which showed a 56 percent increase in overall activity.
While action taken to stem earlier losses in 2010 improved performance in its key markets in the USA and Canada contributed to the production of the positive results, the strategic steps taken by Manulife to expand its operations in Asia were the key driver in the return to profitability in the fourth quarter of 2010.
Manulife’s Chief Executive Officer Mr. Guloien said: “We had strong growth in Asia, diversification in Canada and continued progress in the strategic repositioning in the U.S. We are proud of our continuing expansion and growing sales levels across Asia as a whole.”
Asia is emerging as the key target market for business growth as multi-national insurers look for long term expansion. This is linked to the exceptional growth in the economies of Asian nation’s off-setting the more difficult trading conditions in western hemisphere countries blighted by the implementation of austerity measures.
Manulife’s growth in the fourth quarter in 2010 is primarily down to a global strategy adopted by the insurer in 2009 which focused on driving up insurance sales especially in the buoyant Asian insurance market and growing distribution channels in emerging markets with the creation of a wider range of diversified saving and insurance products.
Manulife’s report on earnings achieved in the fourth quarter of 2010 highlights how much of a pivotal market Asia has become to global insurers seeking to generate written premium growth. While Manulife’s main domestic markets in North American have been basically static since the 2007-2008 global financial crisis, the Asian insurance markets have been a feature of the insurer’s profitable business in recent years, with the markets in China, Indonesia, Vietnam, Malaysia and the Philippines achieving double digit growth.
Speaking on Manulife Asian operations, Robert Cook, Executive Vice President and General Manager said: “Achieving insurance sales of US$1 billion was an important milestone for Manulife Asia. I am very pleased with these 2010 results, and I am also proud of the steps we took last year to invest for the future. These initiatives, aimed at building our distribution capacity in both agency and bank channels, are expected to pay off in continued growth of our businesses in the years ahead.”
Manulife’s Asian Division achieved fourth quarter insurance sales totaling US$307 million representing a 56 percent increase in quarterly year-on-year earnings. A significant 43 percent growth was achieved in fourth quarter 2010 Asian insurance sales, with the Japanese market achieving insurance sales totaling US$563 million – an increase of 72 percent compared to quarter four of 2009. Manulife’s strong growth in the Japanese insurance sector was down to robust sales of its new whole life products and an increase in sales of term life insurance products distributed through Manulife’s well established Japanese sales channels.
Manulife’s Hong Kong business reported insurance sales growth of 23 percent over the 12 month period in 2010 reflecting an increase in marketing efforts and growth in the agency distribution network.
In other Asian operations, Manulife’s insurance sales jumped by 22 percent in the fourth quarter 2010 compared with activity in the same period in 2009. The Canadian based insurer reported record growth in insurance sales in China, Indonesia and Vietnam.
The Chinese, Indonesian and Vietnamese insurance sectors have all become essential markets for insurers looking to expand global operations with new premium business being predominately driven by the improvement in wealth and rise in middle class demographics. Overall, Manulife’s insurance sales in China, Indonesia, the Philippines, Malaysia and Vietnam grew by 15 percent in quarter four 2010 compared to the equivalent period in 2009. Manulife has increased the number of contracted agents in these countries in order to ensure maximum exposure in the flourishing Asian insurance and wealth generation industries. In other Asian markets, Taiwanese sales grew by 53 percent over the yearly period in 2010, driven by successful sales in the whole life business. However, the loss of a distribution partnership in the developed Singaporean insurance market, meant Manulife experienced a steep decline in sales in this segment of the Asian business.
Manulife – one of North America’s largest insurers – targeted the Asian insurance market as a key strategic development in order to expand and generate improvements in profitability, which proved successful as demonstrated by the results in the latest report on earnings. This sector of business will clearly be a focus for activity in 2011 in order to turn the page on 2010’s overall loss of US$ 395 million, which stemmed from poor results in the first half of the year, and develop it into a platform of sustained profitability.
However, competition within the Asian insurance markets has become more intense recently, with European and American multinational insurers gaining access to the region through acquisitions, partnerships or self-started new businesses. These developments are initiating the provision of innovative insurance and wealth generation products in order to achieve market penetration.
As far as Manulife is concerned, in addition to targeting the Asian markets, it has repositioned activities in its significant USA and Canadian operations to meet the changing market conditions in these countries with positive results being manifest in the later part of 2010.
Insurance Company Mentioned:
Manulife
Manulife (International) Limited is a member of the Manulife Financial group of companies. Manulife Financial is a leading Canadian-based financial services group serving millions of customers in 22 countries and territories worldwide. Operating as Manulife Financial in Canada and Asia, and primarily through John Hancock in the United States, the Company offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners.


- Ref:globalnsurance-Posted using BlogPress from my 4GiPhone

Want better jobs? Build denser cities Less crowded cities leave little room for enterprise experimentation and development of talent

Less crowded cities leave little room for enterprise experimentation and development of talent






by Ryan Avent 04:46 AM Sep 28, 2011

"Hell is other people," wrote Jean-Paul Sartre. He nonetheless spent much of his life in Paris, the better to interact with other French intellectuals.

Cities have long been incubators and transmitters of ideas, and, correspondingly, engines of economic growth.

That has never made the crowds less annoying. Maybe that is why people try to tame the city by chaining it down and limiting who can build what where along its quieter streets. We lobby leaders to fight development, aiming to protect old buildings and precious views, limit crime and traffic, and maintain high-quality schools.

But what makes a city a city and a not-city a not-city is the fact that a city is dense and a not-city is not. The idea of it may chill a homeowner's heart, but the wealth supported by urban density is what gives urban homes their great value in the first place.

And when it comes to economic growth and the creation of jobs, the denser the city the better. How great are the benefits of density? Economists studying cities routinely find that after controlling for other variables, workers in denser places earn higher wages and are more productive.

Some studies suggest that doubling density raises productivity by around 6 per cent while others peg the impact at up to 28 per cent.

Some economists have concluded that more than half the variation in output per worker across the United States can be explained by density alone - density explains more of the productivity gap across states than education levels or industry concentrations.

Put two workers with similar skill levels in cities of different densities and the one in the denser place will be more productive, according to two decades' worth of research from economists.



THE TROUBLE WITH NIMBY

The resistance to greater density slows job creation in productive places. Take, for instance, the San Francisco Bay Area, a beautiful place, blessed with outstanding climate, scenery and culture. It is also an economic juggernaut, hub of the country's tech industry and home to some of America's highest wages.

In 2009, the average Silicon Valley household earned about US$85,000 (S$109,440). Despite this, over 500,000 residents of the Bay Area moved elsewhere in the 2000s. Many of them left for places like Phoenix, which attracted over 500,000 residents from other American cities, despite wages 40 per cent below Silicon Valley levels.

Factors like taste and taxes account for some of the migration, but the biggest reason for the shift is housing costs. The average Phoenix home is worth about 30 per cent of the price of a house in San Jose. Every year from 1992 to 2009, Phoenix granted permits for two to three times as many new homes as did the San Francisco and San Jose metropolitan areas combined.

Around the San Francisco Bay, neighbourhoods dead set against change successfully squeezed the housing supply, just as OPEC limits the supply of oil when it wishes to raise its price.

The "Not in My Backyard" philosophy sometimes, though by no means always, supports a high quality of life. Yet the effect is to raise housing costs and make rich cities more exclusive.

Real trouble occurs when the idea-generators in cities with that NIMBY approach become so protective of their pleasant streets that they turn away other idea-generators, undermining the city's economic role. And that is happening. Entrepreneurship rates in Silicon Valley were below the national average during the tech boom because firms couldn't attract enough skilled workers.



MORE INTERACTION, MORE WEALTH

Density is not a magic elixir. One cannot create wealth just by crowding people together; otherwise the super-dense metropolitan areas in emerging Asian countries would be richer than American cities.

Density simply facilitates interaction. Interactions translate into wealth when a population is educated and local institutions support private enterprise and entrepreneurship.

The world's richest places tend to be dense, with well-educated residents and a free-market orientation (or tax havens or oil-rich) - think of New York and the Bay Area, of Singapore, Hong Kong and the Netherlands. Without a stock of skilled workers and a relatively open marketplace, density's impact on growth and productivity will be limited.

What is it exactly that dense cities are doing? Consider a simple example. Suppose that within a population one person in 100 develops a taste for Vietnamese cuisine, and suppose that a Vietnamese restaurant needs a customer base of 1,000 people to operate profitably.

In a city of 10,000 residents, there are not enough people to support a Vietnamese restaurant. The only restaurants that can operate profitably are those appealing to considerably more than one in 100 people - restaurants offering less daring fare. In a city of 10,000 people, there is little room for specialisation, and less for experimentation.

A city of 1 million people, by contrast, can support multiple Vietnamese restaurants. Not only will this larger city enjoy a speciality cuisine unavailable in less populous places, but its ability to support multiple producers of this cuisine allows for competition, improving the price and quality.

A city with multiple Vietnamese restaurants may attract sellers of the fresh ingredients used in Vietnamese cooking, who then invest in distribution of those products in the larger city. This, in turn, attracts the sort of discerning eaters who favour authentic, high-quality Vietnamese food, reinforcing the concentration of Vietnamese eateries.

The larger market facilitates competition, which again boosts quality and reduces prices. This is good for consumers. But competition also means better service from suppliers and growth in the consumer market, which is good for the restaurants.

The result is a stronger, more productive and higher-quality microeconomy than in the city of 100,000, where only one Vietnamese restaurant can survive, or the town of 10,000, where there is none at all.



TALENT AND JOB INSURANCE

Density does not work without talent.

A small market may only support restaurants producing food that caters to a broad range of tastes. These restaurants will have to hire generalists - cooks who can produce a broad range of cuisines. Specialisation and fine-tuning of one's skills aren't rewarded; too few patrons will have the specific taste for the particular cuisine to appreciate the quality.

In the larger market, supporting multiple niche cuisines, the calculus is different. Because there may be multiple Vietnamese restaurants competing for patrons, mastery of that specific style is necessary to maintain an edge against the competition. This is particularly true as the concentration of Vietnamese restaurants is likely to attract devotees of the cuisine with a well-developed knowledge of and taste for it.

Hence, the larger marketplace pushes for, rather than against, specialisation.

Meanwhile, a worker hoping to make a living as a Vietnamese chef will have a much easier time in the larger city. Labour turnover may be greater (if there's only one Vietnamese restaurant in a town, then head-chef spots may only rarely open up) and so the odds of finding employment are higher.

The larger city also provides insurance against bad fortune. If you are a Vietnamese chef working at the one Vietnamese restaurant in a town and it goes bankrupt, then you are obviously in a tough economic situation. You must either take another job for which you are less qualified, which may mean a reduction in compensation, or move. In the larger city, by contrast, competing restaurants can absorb and re-employ the labour and resources of defunct competitors.

This insurance function is important. It reduces the risks associated with specialisation and therefore encourages more of it. By allowing workers to focus on tasks at which they're relatively better than others, specialisation helps drive economic growth.

It is also an engine of innovation. As workers focus on a specific task, they may well find better ways to do it. They might better schedule their days or invent something entirely new - software code written to expedite repeated tasks, or a machine that automates portions of a task.

Of course, existing companies can be resistant to innovation. Dense cities, by acting as a source of insurance, enable workers with good ideas to take risks and start new businesses. If they succeed, the task of staffing the company is made easier by the existing pool of talent, and odds are good that customers and suppliers are close to hand, as well.

Big cities provide a climate in which innovation can flourish, and in which innovators have the resources they need to exploit new ideas. THE NEW YORK TIMES



Ryan Avent is an economics correspondent for The Economist and author of the Kindle Single, The Gated City, from which this essay is adapted. This is an abridged version of the essay.



-Ref:itodaynews- Posted using BlogPress from my 4GiPhone