MOM, SMU launches Human Capital Leadership Institute
Singapore - The new Human Capital Leadership Institute (HCLI) was officially launched this morning by the Ministry of Manpower (MOM) with Singapore Management University as a new knowledge hub to provide talent strategies for companies in Asia.
HCLI will offer talent management and leadership development strategies for both global companies entering the Asia market and Asian firms aiming to compete at the global arena. Minister of Manpower Gan Kim Yong, who was the guest of honour at the launch, said HCLI will help position Singapore as a global talent and leadership development centre in Asia. He added that as the economy gains growth with more than 100,000 new jobs created in 2010, companies need to "develop progressive talent management and leadership capabilities" to maintain competitiveness.
"They need individuals with the relevant cultural and business knowledge, skills and leadership qualities to helm and run their operations in Asia," said Minister Gan. "This is where HCLI will play a pivotal role."
HCLI will carry out a four-pronged strategic approach to help provide advice and innovative strategies needed to tackle current and emerging talent and leadership issues companies will face. Besides executive education and courses in human capital management and leadership development, the institute will launch a Singapore Business Leader Programme for new business leaders taking on regional or global C-suite responsibilities. Some modules in the programme will include aligning Asian leadership attributes, challenges from both global and Asian perspectives and the workforce in the region. There would also be bi-annual journal combining the best talent practices in Asia, as well as, thought leader discussions and networking events on innovative work processes.
Sunny Verghese, chairman of HCLI's governing council and chief executive of supply chain firm Olam International, says, "Such research will help business leaders understand how to succeed in the various cultures and countries that make up Asia."
But one key challenge HR practitioners in Asian companies will expect to face in light of the recovering economy, says HCLI's executive director Kwan Chee Wei, is the talent shortage. "If you talk to a lot of the business leaders today, what keeps them awake is, to a very large extent, where is my talent coming from." Kwan adds, "Managers today don't have a lot of right leadership pipeline for their next-in-line, especially with the pickup in the economy."
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