Commentary

There are many things in life that are trite, but few more than corporate mission statements that start with the goal of being the number 1 player in a category or industry.

As economies develop they generate proportionally more jobs in services than in manufacturing. In the US , for example fewer of 20% of all jobs are in non-services.

The traditional top-down business model is completely wrong for the 21st Century, and marketers employing tactics from the last millennium are in danger of following the dinosaurs into extinction…along with their companies.

It was recently reported that December was a good time for shopping in Singapore especially mobile shopping, which saw its busiest shopping period on 19 December 2011.

Daily deals are all around us these days with the likes of Groupon.sg, Deal.com.sg, Singsale.com.sg, Streetdeals.sg, Outlet.com.sg and others sprouting all over this island republic. It is almost difficult to not notice them particularly once you sign up to be a member of their mailing list.

With the US economy still in a slump and Europe facing its own economic struggles and the possible demise of the Euro, the global outlook does not look too bright. Here in Asia, things are different.

While many startup companies in Singapore spend budgets and resources on the acquisition of new customers, many forget how important it is to keep them sticky to their brand once they acquire one.

Whether it is the Prime Minister of Singapore negotiating an international treaty, community leaders negotiating use of public space during New Year’s celebrations or an engaged couple negotiating over who should be invited to the wedding – the principles are the same.

“Singapore has to take the expected economic slowdown in 2012 in its stride” quoted Prime Minister Lee Hsien Loong during his 2012 New Year Speech recently.

Teach them to learn and appreciate their mother tongues even before they start formal schooling – that is the new focus of the Education Ministry in bringing bilingual education to pre-schoolers.

Gone are the days when Singapore’s private schools are seen as second choice for school-leavers aiming to pursue tertiary education.

While online retailing continues to grow in popularity, digital is not the demise of bricks-and-mortar retailers. In fact, Digital must be incorporated into experiential retailing to deliver that ‘total consumption experience’.

With more high-end shopping malls per capita than anywhere else in Asia, Singapore has truly become a shopaholic’s paradise. Shopping is often said to be Singapore’s national pastime – and yet, as the economy continues to modify the way many of us work, shop and live, expect to see the very notion of “value” shaken up in 2012 and 2013.

No doubt 2011 has been an exciting year and it comes complete with bumps throughout the year. For some it has been interesting to watch how social media has changed the way organizations react to crises. For those who have fumbled, I trust it has been exasperating.

Social media in Singapore is fast becoming a new “democratic” front for the country’s fledgling political discourse as well as businesses. Social media has shown how it can be a game-changer in the “Arab Spring” of 2011 that swept the Middle East.

Avoiding the ‘jacket on the chair’ syndrome. According to a recent survey Singaporean banking executives clock up more hours than their counterparts anywhere else in the world. About 44% of our senior bank personnel work more than fifty five hours a week. The global average for the banking sector is 38.5%. Hong Kong comes a close second with 43% of its banking staff working fifty five hours or more and Britain is next with 41%. Today there is a common perception that people are working longer hours. This begs the question; what is overwork and is it necessarily related to time spent at the office? The relationship between hours spent at work and productivity is, as yet, unproven. Also there has traditionally existed the supposition that long hours and productivity go hand in hand. With many office jobs output is difficult to quantify. In the absence of any other yard stick or convenient measuring device, hours spent at work are as yet, the best indication as to levels of productivity that we have to go by. The result is a self-perpetuating culture whereby employees must be seen to work long hours. Working long hours doesn’t necessarily improve productivity either in terms of quantity or quality. Research has shown that employees that work long hours are more likely to make mistakes and address problems intelligently. Often workers are too tired to work effectively but too afraid to go home to recover. Overwork is frequently cited as being one of the major causes of ill health, stress related illnesses and matrimonial breakdown. Yet again there is no proven connection. Surveys have show that if there is a connection between stress and hours spent at the office, it may well arise as a result of being exposed to office politics and other negative and stress-inducing influences. There is also the health factor to consider. The consumption of high calorie snacks and drinks are a byproduct of working long hours. So is caffeine intake, smoking and taking less exercise. Research has shown then women are more likely to indulge in ‘comfort’ eating rather than men who are more likely to consume alcoholic beverages as a result of spending excessive amounts of time at work. Global job insecurity has also contributed to the long hours syndrome. Employees feel that not to be seen could have a negative impact on their careers. There are also cultural factors to consider. According to Angela Spaxman of the South China Morning Post, in Hong Kong the culture of working long hours is inbred. Employees often see it as a mark of their importance and indispensability. Offices are seen as preferential to cramped living quarters. Working from home or teleworking as it has become known has many pluses. Perhaps most of all, it shifts the emphasis from physical presence at work to work itself. In other words it redefines the working day in terms of how productive the employee is by eliminating distorting factors such as the time spent commuting to work or simply engaged in chit chat. Consequently productivity is defined by how much is actually achieved rather than the time spent preparing for work or simply being at work. Yet, despite advances in technology, the benefits of teleworking are not fully exploited. Much of this is related to fear and insecurity on the part of employers and employees alike. Removing an employee from the work place often means that the transparency factor is also removed – there’s no where to hide. This means that they have to produce tangible results. Likewise, according to a UK survey, there are twice as many teleworking managers as administrative staff – this would suggest that level of trust on the part of employers is a crucial component in this equation. In the US working hours have reached an all time high and home working has already reached a plateau. Above all an ‘hours-centric’ culture reveals management’s insecurity – we hold onto what we can measure. If you can keep your employees at their desk then you are doing a good job. For some years the western perception has been that Asians worked excessively long hours. The enduring stereotype was of the Japanese company man commuting long hours by bullet train to work and arriving home late in the evening. Somehow this impression has nurtured a workaholic, deskbound image of all Asians that is still around today. It is accepted that the economies of developed countries are increasingly becoming dependant upon creative insight and innovation. This isn’t necessarily facilitated by a long hours culture. Inspiration and ideas are more likely to flourish if employees are given space. This reminds me of the story of an American university professor who was given a year’s sabbatical simply to ‘walk beaches’ and think. Much is being said today about work –life balance. Creating harmony within by achieving a balance between work and family has the endorsement of the Singapore Government. Working long hours is traditionally cited as being one of the causes of matrimonial breakdown. At the same time research conducted by American sociologist, Arlie Hochschild revealed that work is also used as a way of escaping from family stress. Singapore’s banking and finance sector is the envy of the world. In terms of HR practices and policies it represents the cutting edge. Yet, in this instance, the media chooses to focus upon one aspect – the long hours worked - which potentially overshadows and marginalizes greater achievements. Being productive isn’t the same as feeling productive. We need to devise more creative way of nurturing productivity. Ways that challenge the existing stereotype of the long commute to work and time spent away from the family. Working longer hours to gain control of our life is simply off-track. We can work smarter through finding ways to simplify our job, utilizing team members to delegate or share certain tasks, and simply eliminate many needless phone calls and meetings. Research shows that approximately 80% of our activity at work is typically non-productive. A recent study shows 50% of internet usage at work is non-work related. We could also ask how much of the other 50% is actually productive internet time. It’s not how long we work that matters, it’s how we are working.