<p>   Singapore is one of the most famous financial centers, with a very high reputation. Singapore offshore companies are registered in the territory, which provides a fairly impressive number of preferences for the development of foreign companies. Registration of the company, as a rule, occurs in a remote mode. What should you pay special attention to if you decided to conduct business in one of the leading countries in the world?</p><p><span style="text-decoration: underline;"><em><strong>Generational Change</strong></em></span></p><p>   Now begins the change of generations. Millennials, the oldest of whom are now 35, are starting to give way to the younger generation of Gen-Z, born after 1998.</p><p>   Millennials are people who are increasingly seeking to take a leading position in organizations. Gen-Z is the SMART-generation, radically different from its predecessors. People of the younger generation are called born with devices in their hands. In this regard, already now companies need to understand Gen-Z not only as potential buyers of their products, but also as future personnel, since the time when Millennials will start to lead Gen-Z is not far off.</p><p>   A company in Singapore should not skimp on the salary to attract professionals.</p><p>   The consultant for economic and scientific research Mary Kelly, economist-consultant and advisor for scientific research, shared her opinion about what to expect for companies.</p><p>   According to the Human Resources Management Society, we should expect salary growth of 3% in all areas of the economy. In general, the increase will affect the spheres that need highly qualified personnel:</p><ul><li>health,</li><li>care for the elderly,</li><li>physiotherapy.</li></ul><p>   In addition, the increase in wages will affect the spheres:</p><ul><li>engineering,</li><li>technologies of unmanned aerial vehicles,</li><li>virtual reality.</li></ul><p>   This is due to the fact that for a long time there has been no increase in wages in these sectors. We add here a record low unemployment rate (4.1% of the workforce). Consequently, employers will be forced to increase their salaries to attract and retain quality employees.</p><p>   Large companies plan their health care expenses at a rate of 6% of income. Despite the tendency to reduce the coverage of these expense items, employers understand that by creating plans for medical care of employees, they will attract qualified personnel and will be able to retain them. Talented employees when choosing a job look at the salary, ease, flexibility and autonomy of the work process.</p><p><span style="text-decoration: underline;"><em><strong>Social learning is better than distance learning</strong></em></span></p><p>   Now more and more employees of the company work remotely. In addition to the usual refresher courses, online courses and training programs, it is necessary to look for other ways of training specialists, establishing links between them and developing their talents. In this case, social education can help, the learning process of which is the interaction of peers and colleagues with each other. For example, a casual meeting of colleagues over a cup of tea, during which they exchange ideas, is a prime example of this type of training. Since each participant in the meeting gets new knowledge and experience.</p><p>   According to Bloomberg research, 50% of companies already resort to social education, and 2/3 - plan to use it. This type of education can occur when:</p><ul><li>informal meeting of two people;</li><li>solving the problem by a team of employees in real time;</li><li>communication in practical communities;</li><li>use of social software, reference books, etc.</li></ul><p>   The advantages of social learning:</p><ul><li>Promotes individual development.</li><li>Increases the participation of each person in the learning process.</li><li>Participants do not feel lonely, as in the case of online courses.</li></ul><p>   Taking into account the merits of social learning, some online learning programs use chat rooms and communities on social networks, where each student can share their experiences, ask questions and get answers to them, and gain knowledge beyond the curriculum.</p><p>   Because companies are more likely to use social training, they will also use tools that support mentoring and consulting and training methods that organically use internal expertise.</p><p> <span style="text-decoration: underline;"><em><strong>The company in Singapore will succeed, having in the staff of an expert on substantive issues</strong></em></span></p><p>   The trend of using subject matter experts (SMEs) appeared in 2017, and in 2018 it will get even more prevalence. Why are there so much attention to these specialists? Technological progress doesn't stand still. There are new technologies that expand the capabilities of the industry. Therefore, more and more SMEs are needed, which will train, guide and advise. A client who can read information about the company's products on the official website is not always able to understand how this product / service can help them.</p><p>   SMEs are valuable cadres that are aware of industry trends. They attend special events to exchange best practices and discuss the advantages and disadvantages of the work of a product and to identify how the new solution is better than the previous one. In addition, they help sales professionals, who note problems with attracting customers.</p><p>   The presence of SMEs in the staff includes:</p><ul><li>The need for management to provide training and support for specialists to assist them in their orientation in a complex sales environment.</li><li>Developing best practices in sales outlets with the aim of gaining industry and applied experience from traditional sellers, which will improve their performance, accordingly, increase sales of products.</li></ul><p>   The work of SMEs is based on:</p><ul><li>Increased attention to proper leading skills and narrowing the focus on the right opportunities to use the missing but effective resources.</li><li>To reduce the time spent on unsuccessful and unpromising opportunities.</li><li>Reduction of time for registration of documents and other administrative duties in order to increase the time spent on customer service.</li><li>Teaching your sales teams.</li><li>Developing expertise.</li></ul><p style="text-align: center;"><em> If you have any questions, contact Castle Family Office specialists by email <em><strong><em><span face="Calibri" size="3"><span lang="EN-US"><span face="Calibri" size="3"><a href="mailto:info@castle-familyoffice.sg">info@castle-familyoffice.sg</a></span></span></span></em></strong></em> We will help you make the right decision and answer your questions!</em></p>