BLOG

An Asian bankers’ guide to schmoozing mega rich millennials

June 14th, 2018

Source:efinancialcareers

Couple Shopping

Private bankers in Singapore and Hong Kong need to urgently adapt how they work in order to better serve high-net-worth (HNW) millennial clients. The potential upsides are huge if bankers can win more business from young millionaires across Asia. An estimated $4 trillion of HNW wealth is expected to be passed down to the next generation globally over the next decade.

But becoming a banker to millennials requires a change of mindset, especially if you’re from an older generation yourself. Here are some of the main factors to consider when you’re trying to build relationships with millennials.

Loyalty

Is it true that millennials lack loyalty? Are they more likely to switch banks than older generations are? Or has the landscape in private banking changed so significantly that they are simply being offered with more choice of firms to bank with? The research is mixed, but much of it actually shows that millennials can potentially be loyal and powerful advocates for relationships that are particularly meaningful to them.

Millennials tend to seek validation when they select their bankers and rely on their social networks to tell them whether or not they’re making the right choice. They also demand personalisation and transparency, and have a tendency to switch banks if a banker’s delivery falls below expectations. But I don’t necessarily think this shows a lack of loyalty to their bankers.

In fact, many millennials will engage very directly with bankers, as long as bankers win their trust first. The key to doing this is to be bespoke and unique. When it comes to investments, for example, traditional asset classes such as equity and fixed income are no longer particularly attractive to younger people.

“The new generation of HNWs in Asia has very different needs when it comes to investments,” one Swiss private banker, who is currently serving a few HNWs in their late 20s and early 30s, told me recently. “While their parents are looking for good investment returns, the young HNWs are looking for unique investments – such as private-equity and socially-responsible investments – that are more aligned to their interests. So you have to find out what their wider interests actually are,” he added.

You might also want to tone down your sales spiel when you next chat to a wealthy 20-something. “They expect straight, down-to-earth talk, not a sales pitch from a banker who’s looking to score a big commission,” an Asia-based private banker told me at a recent roundtable discussion held by my company.

When it comes to giving them investment advice, millennials often want to further their knowledge of finance, rather than get a lecture about the basics. They grew up in the internet era, with easy access to financial information, so they most likely already possess a certain level of financial expertise. Their need for a deeper understanding means private bankers should use clear and consistent language, and be transparent about the benefits and risks of a particular product, and how it specifically meets their investment requirements.

As digital natives, millennial HNWs also have much higher expectations of price transparency. Although they may not be the most price-sensitive group, price transparency is a critical factor in earning their trust. All fees should be reasonable and fair, and (most importantly) made clear. If they don’t understand the price structure of a product you’re proposing, this could be a major barrier to you increasing your bank’s share of their wallet.

Team work

Even if you’re not serving many millennial clients right now, you will be soon, so don’t wait until the millennials take over their family businesses to adapt your strategy. My company’s research shows that many millennial HNWs are considering leaving their parents’ or grandparents’ private bankers. To help counter this trend, it’s essential for private banks to put in place a structured team approach, which serves not only the current (older) generation, but also engages the upcoming millennial generation within the client’s family.

These teams should not just comprise of investment advisors, but should also include younger private bankers, appointed to serve the millennials in the family. A private-banking team that understands the needs and preferences of both current clients and their heirs stands a better chance of inspiring trust and confidence in clients, naturally leading to a continuous relationship.

But whether it’s a fear of losing control of their clients or a lack of willingness to jump into an entirely new advisory model, many private bankers in Asia are still shying away from adopting this team-based approach.

Some are beginning to see the writing on the wall, however. “One key challenge I face today is that many of my bankers are nearing retirement age and there’s a risk that clients may switch to another bank when they do retire,” the market head of an Asian private bank told me. “I need to make sure there’s proper succession planning internally, to transfer the client relationships from retiring bankers to younger bankers.”

At the end of the day, we all know that there’s no one-size-fit-all solution to retain the next generation of Asian wealth. The overriding idea, however, is to have the right people in place to facilitate the communication that is relevant to millennial clients. Not many private banks are currently getting this communication right, but hopefully this article will serve as a reminder that such change is a necessary evil to ensure longstanding client relationships that span across generations.

Sean Kang is the director of the Asia Pacific wealth management practice for Scorpio Partnership and McLagan (business units of Aon). He is based in Singapore and provides advice to financial institutions in the region. Soo Khang, an intern consultant for Scorpio Partnership, also contributed to this article by providing her perspectives as a millennial.


How to introduce yourself at your new job – 4 easy tips

June 1st, 2018

Source:roberthalf.com.hk

how_to_introduce_yourself

The fastest route to awkward early relationships with colleagues at work is a botched first introduction.

Taking the time to plan out an appropriate, confident self-introduction can help to impress management, warm your new colleagues up and form lasting friendships.

Here’s how to introduce yourself in a new job and some extra steps you can take to ensure an easy transition.

1. Perfect an introduction speech about yourself before your first day

Even if an introductory email has been sent to the company, having a great introduction speech under your belt can help to fend off first day nerves.

The night before your first day, take a minute to think about how you’d like to come across and how this will impact the way you introduce yourself to new colleagues. Take your cue from the environment you’ll be transitioning into. Are they more relaxed or more formal?

Tailor your approach to suit the company style, remembering to include your name, job title and where you worked previously.

You may also be asked to give some background information on your career and to share your hobbies or interests, so have some examples prepared!

2. Get ahead with a seating chart or organisation chart

Many businesses provide organisation charts or seating plans along with their welcome literature.

Be sure to keep a copy close to hand, so you can link names to faces easily and can locate where each team sits within the office.

If you didn’t receive one, try requesting a copy from HR—they’re worth their weight in gold!

3. Request a team introduction

Did you find yourself plopped down at your desk without the offer of a proper introduction?

You shouldn’t be afraid to ask for one—grab a quiet minute with your manager and ask to be properly introduced to the team.

Where possible, it’s better to meet each colleague one by one. This eliminates any future awkwardness and gives you a chance to repeatedly practice how to introduce yourself to a new team.

4. Extend your introductions to other teams

You’ll be working with other teams and employees at some point during your tenure, so get things off on the right foot by going out of your way to meet everyone.

You can ask to be formally introduced to the various teams related to your role or take it upon yourself to make the introductions.

It’s also a good idea to be friendly and forthcoming with everyone you meet—you never know who you might be talking to!

Extra tips for how to introduce yourself

Don’t be afraid to ask for names

You’ll have enough to remember on your first day, without having to worry about people’s names, too. If someone’s name has slipped your memory, don’t be afraid to ask them again—they might have forgotten yours too!

Shake hands and use ‘open’ body language

Your body language says a lot about your character and how you feel at any given moment. The same is true of meeting people for the first time.

Avoid crossing your arms or putting your hands on your hips and opt for a friendly handshake and some eye contact to show you’re receptive and approachable.


Choosing Between Job Offers

May 15th, 2018

Source: jobs.ac.uk

Permanent or temporary?

It appears obvious to conclude that a permanent job is ‘better’ than a brief one, and it certainly does have advantages. You won’t have to be on the job market again in only a couple of years. You will have an opportunity to become completely integrated into one department unlike temporary staff who are often left feeling like ‘outsiders’ because they do not take a full part in the life of the department. As a permanent staff member you usually get more benefits such as a pension scheme and often have a lighter teaching load, at least for the first few years. However, if it seems better in other respects, do not immediately turn down a temporary employment.

Job description

The fundamental thing to consider when choosing between two jobs is which one will leave you more fulfilled? Taking a job for more money or for security is an understandable choice, but if you end up unhappy because you hate the chosen job and you start looking for work soon again anyway, why not pick the job that you would enjoy doing? Questions to ask when considering this include: are you looking to challenge yourself and move into something new? Or would you prefer to take the safer option, the one that builds on current strengths and is more familiar to you? Is this a career building move or are you simply desperate to have any job?

Location

Academics very often cannot be selective when it comes to location of work. They have to be prepared to move a long way from friends and family, or do very long commutes. However, for some people (like Emma) location is a key factor. She had a bad experience working in an isolated, quiet campus environment and did not want to repeat that. Others may really dislike the thought of big city universities. Starting a new occupation will give you a new lifestyle and the ‘whole package’ must be considered, not simply what you will be doing during your hours of work.

Personal circumstances

There are other reasons why a full time permanent position might not be suitable for you, perhaps due to family commitments or because you want to sample academia first before committing yourself to a lifetime of work. Depending on your household situation, you may not want or need a permanent position.

But what about the future? Work-life issues

Many people advise against turning down a permanent position at the moment because the job market is so uncertain. As an individual job seeker you need to weigh up your need for a secure future against other factors such as job satisfaction and achieving a work-life balance. A permanent job might mean that you can fulfill certain dreams (such as buying a house or getting married), whereas it might also trap you into a lifestyle that you are not ready for or do not want.


4 Tips to Sharpen Your Resume

February 21st, 2018

Source: Talent International

Whether you’re trying to enter the workplace for the first time or want to get a new position in your field, you’re going to need a sharp resume. Although potential employers will assess you on more than one piece of paper, your resume is a great way to get your foot in the door for an interview.

That said, it’s easy to be overwhelmed when you’re putting a resume together. Here are four easy tips for how to write a resume.

1. Make it legible
It’s usually a good idea to stay on the basic end of things. Try a sans-serif font such as Calibri, or a standard one like Times New Roman. The most important thing is that you select a font that won’t distract the reader from the content on the page.

2. Organize carefully
There are two common ways to organize your resume. The majority of resumes follow a reverse chronological order, so list your most recent job first. This organization is beneficial because it shows employers you’ve been hired consecutively by organizations. If you’re in a field that requires a resume more similar in structure to a portfolio, you can organize items on your resume by their relevance to the job you’re applying for or by highest to lowest quality. Either way, be sure that your resume tells your professional story in a way that gives you well-deserved recognition.

3. Focus on the key information
The most important things on your resume will probably be your level of education coupled with the relevant experience you’ve had in your field. Make sure both of these pieces of information (especially the relevant work experience) are the primary features of the page. If you’re a recent graduate or have been awarded a high-level degree, your education should be near the top. Do a little research to find out whether the positions you’re applying for require you to list your GPA as well.

4. Don’t waste space
While it is nice to know what you do as a hobby or what type of volunteer work you’ve completed, resumes should be focused on giving potential employers tangible reasons to hire you. Although it was probably a positive experience, listing your two-year stint as a Scout in primary school probably won’t impact your performance in a job today. Do your best to remove any fluff from your resume.


3 Tips for Successful Interviewing

January 24th, 2018

Source: JobDig

It can be a nerve-wrecking prospect to think about your impending job interview. What will you say? How will you dress? These are all questions you may run through your mind before ever meeting the prospective employer. But while interviews can be intimidating, they don’t have to be feared – especially if you come equipped with the right knowledge. So let’s look at three tips that can help you place the job you want in the palm of your hands.

Tip #1: Conduct Practice Q&A Sessions
Before you ever set foot on the property of your prospective employer, it is important that you mentally prepare for the challenge. Being that you’ve never interviewed before, it may seem impossible to prepare for the unknown. But luckily for you, there are bound to be some individuals in your life who have been on job interviews. So give them a job of helping you prepare.

A good way to start your preparation is by first conducting some research on the company you are attracted in working for. After you’ve learned the company’s overall mission, what they look for in employees, and most importantly, what they want in the hiring position, you can give this information to your helper. Then he or she can compose interview questions, have you show up for the mock interview in full attire, and ask the questions so that you can begin to feel comfortable with the process.

Tip #2: Dress for Success
This is probably one of the more important aspects of interviewing for any position, no matter how casual you think it might be. The prospective employer wants to confirm how serious you are about the job, something that is partially accomplished by dressing up in business attire for the interview.

While this may seem to be common sense to some, there are many newcomers to the world of interviewing who show up wearing khaki pants or low-cut tops. So if you already knew that wearing a business suit is the way to go, good job. But if you were just about to walk out of the door in your T-shirt and khakis, you may want to go change your clothes.

Tip #3: Speak from the Heart
Starting off in your practice Q&A session, and eventually transitioning into your actual interview, it is important that you place personal value on your decision to apply for the job. If you go into the interview thinking that you won’t like the job, the interviewer might sense the apprehension and pass you up for the position. However, if you come in genuinely excited about the position, it will be much easier for you to find the right words to express that enthusiasm.

If you follow these three tips, you’ll be that much closer to securing the job of your dreams. So practice with your Q&A session, go buy a suit that makes you feel comfortable, and go to the interview with great passion. You’ll see that your budding confidence in your interviewing skills will skyrocket in time for your very first interview.


5 Ways You Can Stay Open for Job Opportunities

November 30th, 2017

Source: JobsDB

Job Opp

Employed but interested in knowing the available career opportunities out there? Even when you’re not too keen on looking for a new job right now, it still pays to be updated on job market developments in your field. So what should you do to keep yourself on hirers ‘radars and be discovered for available jobs?
Because it’s good practice to stay updated and open for chances, we’ve decided to put together this helpful guide to keep yourself visible for great job opportunities. Follow our tips below and get your name in the spotlight!
1. Join networking opportunities that come your way
There are a ton of ways to get your name out there, and networking is the best way to go about it. Thanks to the internet, it’s easy to find events and organizations that’ll help you meet and greet the industry movers in your chosen industries. You can even get in touch with these people, or with like-minded folk who can connect you to opportunities by joining online forums or social media groups. Just remember to present yourself well, mind your manners, and be friendly! Kind words and a sincere smile will go a long way in these settings.

2. Hone your skills and keep them fresh
You say you want to be attractive to hirers and headhunters – the best way to get noticed is to have the most sought-after skills in the job market. Enrolling in classes, whether for full degrees or short courses, is one. You can also learn on your own by reading books, going online, or by joining workshops. You should take any chance to help you develop your skills, not just for the career opportunities it opens you up to, but do it also for your self-fulfillment and personal growth.

3. Keep abreast on industry and job market news
Interested in climbing up your industry’s corporate ladder? You need to be on the lookout for the trends and happenings in your chosen field. Preparation is the key to success in life, and the same rule applies here. Keep an eye out for movements in the industry or job market so you can plan out your strategy and stay ahead of the competition. The internet is a great venue for this, but traditional media like print publications and broadcast news are valuable sources too.

4. Go beyond expectations at work
You don’t even have to go far to start your quest. By doing your work right and exceeding expectations at your job, you’re already sending out the right signals that perhaps you’re due for great things in your career. Make it a point to deliver what is asked of you, and even go the extra mile if you can. Your higher ups will appreciate your effort and would keep in handy during evaluation time. Translation: You might find yourself getting promoted, or perhaps earn rave reviews and recommendations!

5. Keep your profile open and updated
Whether you’re happily content with your current job, or on the lookout for a new one, it always pays to keep your online profile updated. The same rule applies too for your physical resume and social media profiles. It signals to hirers that you are ready and open to new career opportunities. What’s great about keeping your profile fresh on our site is that we’ve configured our system to show potential employers the latest and newly-updated profiles first, so that every candidate, whether monitoring, active or passive, are easier to spot. Remember also to keep your profiles open or searchable, and update your contact details so that you can be easily contacted by recruiters.

Surviving the job market takes more than doing good work. Having the right skills, experience and connections will open you up to so many wonderful job opportunities. Add to that a great personality, confidence and guts to actually go out there, and you’ll see a fruitful and fulfilling career path waiting for you to explore. Good luck!


我應不應該為了加薪而轉工?

October 16th, 2017

Source: JobsDB

changement de poste de travail的圖片搜尋結果

在香港,不少打工仔會因為加薪而轉工。加人工的多少,仿佛成為了計算個人身價的重要元素。不過,如果以薪金多少而決定應否轉工,有些其他不明顯但重要的因素或會被忽略。

比如說,你能每月多獲得數千元的收入,但新的工作環境可能令你帶來很大的精神壓力。你每月雖然能獲得更多金錢,但另一方面縮減了慷慨的員工福利,或會令你失去將來的健康保障。所以,在考慮是否接受新工時,薪金不應該是唯一決策因素。在考慮時,如果可以列出不同範圍的比較清單,會令你更容易比較不同工作的利弊。

工作環境

  • 你有信心能適應公司的工作文化嗎?
  • 公司的管理體制是否開明?公司有沒有渠道供員工反映工作情況或提出意見?
  • 工作崗位能不能帶給你新挑戰?能不能讓你學習到更多或達到更高的專業程度?

福利

  • 公司有沒有提供津貼? 如勤工奬、交通津貼、加班津貼等等。
  • 公司有沒有偍供一些切合你個人需要的福利?如牙醫福利、彈性上班時間等。
  • 公司有沒有提供一系列的健康保障計劃?能不能自費保額,擴大保障至家人?
  • 公司有沒有提供(比基本MPF)更完善的退休計劃?這些計劃是否可以帶走?

休假

  • 公司提供一年多少天年假、病假、或其他有薪假期(如生日假、考試假、結婚假)?
  • 對於需要照顧家屬或孩子的員工,公司會不會給予無薪假期?

在考慮休假福利時,除了留意假期日數外,還要考慮申請假期的彈性及難易度。特別是需要照顧家人或孩子的,公司會不會體諒額外的假期申請。

生活方式

  • 上班日數、工作時間、交通時間及費用是多少?
  • 要否出差?或長駐外地?
  • 新工作會不會影響你的生活方式、進修,或更重要的優先事項?

在現今講求工作與生活平衡的社會中,轉工不能只單單考慮薪金,還要考慮該工作是否切合個人成長、事業發展,以及生活的平衡。


If you think your cover letter is good enough, think twice

April 26th, 2017

Source: JobsDB

processo seletivo的圖片搜尋結果

The cover letter attached to your resume is your first self-introduction to the hiring manager of your desire company. So make it great.

Cover letters provide you a chance to draw the attention of your prospective employers and demonstrate the qualities that stand you out from the rest of the candidates. Your cover letter should complement your resume by highlighting the most relevant aspects relating to the position. If you are not sure of the qualities or skills required, try to work out what they are likely to be or consider a similar position you have seen elsewhere.

Before you hit the “send” button, have a look at these checklist items to ensure your cover letter is good to go.

Cover Letter Checklist

Length
One A4 page, well-spaced, text aligned to both left and right.

Language
Be clear and concise. Use strong verbs which demonstrate action and accomplishments, such as “organize” and “supervise”.

Name, Title and Address
Find out the details of the contact person (including all spelling) in the organization and address your letter accordingly. Don’t forget to include your address, phone number and email.

Layout
State clearly the position you’re applying for in the introduction. Commence with the reference number, followed by your reason for applying and a summary of your unique skills/qualifications.

Substance
Identify your skills, experience and attributes that match what the employer wants. Look for keywords in the advertisement and address the main elements. For example, the advertisement might say: “This position requires an outgoing person with demonstrated capacity to work in a team”. The keywords here are “outgoing”, “demonstrated” and “team”. Show you meet these essential criteria to increase your chances of an interview.

Proofreading
Essentially you need to stand out from the rest, but not by misspelling the company’s name! So proofread, and proofread again!


為甚麼一份工作不應做超過四年

April 19th, 2017

Source: JobsDB

上一輩打工仔思維覺得,為同一位僱主服務數十年,成為組織的核心成員,盡忠職守直至退休,是一件很光榮的事情。然而,隨著現今科技日新月異,時代和社會急速發展,一本通書讀到老的模式已不再適合。在現今社會,如沒有升職而做同一個職位四年多,真的要轉工作時,競爭力很可能會落後於水平。如果你發現自己也開始出現以下的狀況,便是時候想想要不要離開現時的職位了!

1. 能力沒有進步
人的天性是傾向處於安穩,我們能純熟地掌握工作的技巧,便沒有動力去學習新事物;久而久之,會變得固步自封,亦是僱主最不希望請到的員工類型。

2. 履歷表上沒有工作經驗
在履歷表上擁有豐富的工作經驗(而非頻繁轉工),在找工作時是絕對的優勢。但如果工作經驗寥寥可數,在新崗位時工作也會較難上手。

3. 形成負面印象
在同一間公司待得太久,很容易會予人一些負面的刻板印象,如「那麼多年有學習到新事物嗎?」雖然這些未必是事實,但很難避免新僱主在篩選時也會這樣想。

4. 跟不上科技進步
市場上幾乎任何一個職位都使用電腦,但通常一間機構購置了一套軟件或硬件後,就會一直沿用下去。如果十多年以來是在用Windows XP,新工作要使用Mac,可能隨時連滑鼠也不會用。

5. 人際網絡較窄
除非工作的性質是以對人為主,否則同一份職位做太久,便難以擴大人際網絡,找新工作時也較難提供數位推薦人。

6. 對自己的定位認知模糊
找工作的過程能讓自己更了解自己的專長、甚麼公司需要自己、自己在市場上值多少錢。相反,離開求職市場越久,便會越不清楚自己在市場上的定位。

7. 適應力較弱
我們每次轉工作,都要重新適應新的工作環境,能力就是這樣提升的。如果很少轉工,鍛鍊自己學習能力的機會也會相應減少。

8. 失去工作熱誠
懂得自我鞭策的人畢竟不多,大部分人都是由環境逼使自己激發潛能的。如果連自己都安於年復年地做著同樣的工作,就沒有東西能驅使自己繼續進步了。

9. 忘記工作以外的世界
每年重覆做著一樣的工作很容易使我們把焦點放在公司,以為工作就是自己的生活。其實世界很大,每一個人值得擁有更多的可能性,做更有趣的事呢!


5 Tips for Selling Yourself When Applying for Jobs

April 11th, 2017

usp unique selling proposition的圖片搜尋結果

Unique Selling Point (or USP) is a marketing idea developed to benefit people in business improve their sales. As a job seeker, you also have something to sell: YOURSELF!

These five tips will help you to improve your CV by using your USPs and help you get an interview.

1) What does the employer want?
When reading, a job advert you should work out what your audience (i.e. the employers) are looking for. Read the

  • Job title
  • Advert content
  • Person specification

These will show the qualifications, experience and skills that the employers need. How does your career history fit these requirements?

2) Get your message out there
This is significant. You might be a brilliant candidate, but if the key people do not know that you are available then you will lose out.
How to let employers know you’re looking for work:

  • Apply directly for jobs advertised on websites
  • Networking: catch up with your supervisor, colleagues, academic contacts and let them all know you’re on the job market

3) Respond to feedback
If you’ve been job hunting for a while, you might have had a few interviews already. Even if you fail you can still get feedback on your performance. This feedback can be used to improve your chances of getting a job in the future. Either change your CV to make it more attractive or improve your interview skills

4) Know your competition
Job hunting, just like selling, is a competition. If you are constantly knocked back then perhaps you need to learn from your competition on how they succeed when you have not.

So, share job hunting techniques with your peers. Speak to people in your field who have been recently employed. But don’t give too much away to people who will be applying for the same jobs as you!

5) Eliminate weaknesses
If you know that the profile you present to employers is weak in some way, work hard to improve it.

  • Polish your CV
  • Improve your interview technique
  • Write better cover letters
  • Present your skills/knowledge base better
  • Develop your own career by going on courses, learning new skills.