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Focusing on ideas that have the potential to generate income is imperative: Michelle Lam of TLBB

As the dreary funding winter soars, at e27, we are kickstarting a new article series Line of Hire to understand a company’s culture and hiring philosophies to empower tech workers with the right growth tools to enable business owners to attract talent.

The bureaucratic environment of working in a corporate world and the urge to take on something new and challenging drove Michelle Lam, a highly paid regional account director at a leading advertising firm, to start her own marketing communications company, The Little Black Book (TLBB).

TLBB is a home-grown uptrend motion graphics company reputed for its engaging digital campaigns and strong social media track record. It has accumulated a wealth of experience and gained extensive expertise with a wide-ranging portfolio of projects from private sector companies to government constituencies, covering brands from beauty to technology, lifestyle to public service.

In this episode, Lam shares his organisation’s culture and hiring philosophies.

Excerpts:

What personality traits/qualities do you look for in potential employees?

In the process of recruiting new employees, I prioritise identifying an individual’s unique “X” factor beyond their formal education and relevant work experience. This involves considering the current team dynamics and discerning which personality traits and skill sets are absent from the existing mix. To accomplish this, it is crucial to have a thorough understanding of the team on both a professional and personal level in order to identify the ideal candidate.

My approach to recruitment follows a straightforward guideline that revolves around two key questions: Does the candidate possess the relevant skills, and can they be envisioned as part of the team? By focusing on these questions, I can more effectively determine a candidate’s compatibility with the team and the role.

During interviews, I closely examine the questions candidates pose to gain insight into their personalities. If appropriate, I inquire about past challenges they have faced and the strategies they employed to overcome them. This information helps me draw inferences about the candidate’s character and ultimately assess their suitability for the position.

How do they fit into your company culture? Tell us a little more about your company culture.

In the corporate landscape, it is essential for organisations to cultivate a sense of purpose and fulfilment in their work. At our company, our culture is built upon four key principles, collectively known as the four Cs: carefree, commitment, caring, and curiosity. These principles guide our daily operations and interactions.

Being carefree encompasses a balanced approach to work and play, ensuring that we maintain a strong work ethic while also finding time to unwind. Caring signifies the importance of treating each team member with respect, as they contribute to our collective happiness and success at work. Commitment involves dedicating ourselves to our tasks and ensuring that we see them through to completion.

Lastly, curiosity is a value we instil in every aspect of our work, from client meetings and research to our thought processes and problem-solving strategies. By fostering an environment that encourages curiosity, we promote a culture of continuous learning and innovation.

Also Read: Our company culture is driven by communication: Terng Shing Chen of SYNC

Because of our culture, we are able to earn the trust of each other. The trust serves as the bedrock of our team dynamic, and we have experienced the transformative power of teamwork during challenging times. For example, on two separate occasions, our team successfully navigated the delivery of high-priority projects. One such instance involved the production of 17 videos within a week, which demanded unwavering dedication and a seamless operational flow. Accomplishing this feat without additional resources necessitated an all-hands-on-deck approach and a shared commitment to success.

The second situation presented a unique challenge, as it involved an ongoing event that was beyond our control. In response, our team quickly assembled team B to manage crowd control and oversee manual tasks at the event while the client’s software issue was being resolved. Despite the immense stress, our team’s professionalism and dedication shone through, demonstrating the strength of our collaborative spirit.

As a leader, I am proud of our team’s achievements and remain steadfast in my commitment to supporting their ongoing growth and development. Our hiring process seeks candidates who resonate with our core values and display a willingness to work collaboratively, even in the face of adversity.

Our company places a premium on perseverance and the determination to see projects through to completion, ensuring that we consistently deliver on our commitments to both our clients and each other.

How do you foster transparency and encourage achievement in the workplace?

I make an effort to keep my employees updated on my plans and goals. By sharing these details and explaining the reasons behind my choices, I hope to remove any obstacles that might get in their way. While this method may not convince some of my employees to open up more, it does create a smoother and trusting work environment.

I make sure everyone on our team knows what they’re responsible for and how their success is measured. I’m open and honest about my hopes and goals for everyone. When someone achieves their objectives, I like to shine a light on their success and give them the reward I had in mind. I always try to keep my promises and trust that others will do the same.

Do you have a mental health policy? What does that look like?

While we do not have a formal mental health policy, we deeply care about our colleagues’ well-being and are attentive to changes in their behaviour. If we notice anything concerning, we make a point to check in with them and offer support.

We have also published a self-development book titled “Life is Meaningless,” which focuses on finding one’s purpose in life. By publishing this book, we aim to embody the principles we discuss and ensure that our team members feel supported and understood.

We do our best to be sensitive to each other’s needs and provide space when necessary. For example, one of our staff members lost her mother shortly after joining the company. As a result, we make a conscious effort to be mindful of this during occasions like Mother’s Day, avoiding excessive discussions that might be distressing. While these gestures might seem small, they contribute to a work environment that fosters motivation, safety, and well-being for our team members.

WFH or WFO, or hybrid?

WFH. Based on recent conversations with friends employed by large corporations, I have heard that some organisations are considering discontinuing the hybrid work model. As you know, when one company adopts a particular approach, others are likely to follow suit. Personally, I find this decision disheartening. The COVID-19 pandemic provided us with an opportunity to explore the potential of working from home. Admittedly, it does require significant adjustments and dedication to make it work effectively.

It is worth noting that some supervisors and managers may prefer the ease of face-to-face management. While I understand that certain jobs cannot be performed remotely due to the nature of their industries, I firmly believe that for most knowledge workers, working from home offers a better work-life balance. It allows employees to be productive while simultaneously managing their personal time more efficiently.

How should a tech worker prepare for the funding winter?

Focusing on ideas that have the potential to generate income is imperative. Start by prioritising the generation of revenue with limited investment, then construct a sturdy product and present the foundation to prospective investors.

Also Read: Impactful technologies empower lives: Viveka Kalidasan of Let-Lab

This displays the probability of success when there is a steady flow of income (even if it is little). Nevertheless, it is important to avoid over-reliance on funding as it may give the misleading notion that financial resources can substitute for the core components of marketing and revenue generation.

How do you measure the performance of your employees?

I utilise Key Performance Indicators (KPIs) as a means of evaluating the performance of my employees. These KPIs are clear, quantifiable and have a specific timeframe for achievement. I schedule an annual performance review with each employee, during which they first self-assess and then receive feedback from their immediate supervisor. After both evaluations are completed, we then have a discussion to review the results.

Will you consider a moderately skilled person with great honesty or a highly skilled person with less honesty when hiring?

When it comes to hiring for my company, I prioritise honesty and moderate skill level over pure technical expertise. While it is typical to aim for highly skilled individuals in a corporate setting, the nature of my small business requires a different approach. In my company, a team of individuals who possess a strong sense of integrity and moderate proficiency is preferred.

Do you encourage ‘intrapreneurship’ in your organisation?

I consistently encourage my staff to explore intrapreneurship. However, from my perspective, this largely depends on personal drive rather than organisational support. We independently authored, produced, priced, and managed the promotion and marketing of our book. Consequently, each individual has the chance to engage in similar ventures. As we are also investing internally in a SaaS company, it’s crucial for the team members involved to exhibit a certain level of entrepreneurial spirit in one way or another.

How do you support upskilling for your employees?

In the past, we enrolled our team members in coding courses (some of them created a meal cost-sharing app) and provided subscriptions to various e-learning platforms such as Lynda. However, I noticed that not many were particularly interested.

Consequently, I now make an effort to empower team members by directly inquiring about their preferences, and if desired, I am more than willing to provide the necessary resources or support. This approach seems more logical to me, although I acknowledge that we have not yet achieved a breakthrough in this area.

I recognise that the daily workload for my team can be significant, leaving little time for upskilling. Additionally, not everyone is inclined to engage in formal upskilling. To address these challenges, I now focus on incorporating a diverse range of projects with varying scales and requirements, ensuring that my clients and my expectations are met.

By doing so, team members can learn and upskill naturally while on the job. I have observed improvements in their output using this approach, and thus, I believe these two methods will coexist for the foreseeable future.

Echelon Asia Summit 2023 brings together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here. Echelon also features the TOP100 stage, where startups can pitch to 5000+ delegates, among other benefits like connecting with investors, visibility through the platform, and other prizes. Join TOP100 here.

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Ex-Zalora CMO’s telehealth platform ORA secures US$10M Series A

ORA Founder Elias Pour

Singapore-headquartered telehealth platform ORA has raised US$10 million in a Series A funding round co-led by TNB Aura and Antler.

Gobi Partners, Kairous Capital, and GMA Ventures also joined the round, bringing ORA’s total funding to date to above US$17 million.

With this new round of funding, ORA will seek to expand its presence into new territories, both geographically and with new offerings.

Founded by former Zalora CMO Elias Pour, ORA is a house of healthcare brands powered by a vertically integrated telehealth platform. It currently operates in Singapore, Malaysia, and the Philippines with additional markets being launched during the rest of 2023.

Also Read: Gobi Superseed II Fund invests in Durioo+, Lapasar, Paywatch, pitchIN

Its portfolio of healthcare brands includes Modules (prescription skincare), OVA (women’s health) and andSons (men’s health).

Later this year ORA’s brands will arrive in retail across 1,300 tier-one stores bringing its accessible, medically-backed range of products to shelves. Looking at different geographies there are opportunities to expand into regions like the GCC.

CEO Elias Pour said: “We have the high growth potential of DTC, with a very high percentage of healthcare expenditure in our region being out of pocket. This is powered by an underlying SaaS type of recurring revenue, with subscriptions counting for more than 70 per cent of our revenue and our retention is better than Netflix with 10x the monthly order value. We achieved post-marketing breakeven at the end of last year on a group level after just 20 months of going live and have a very clear and believable path to profitability that is imminently ahead of us.”

Echelon Asia Summit 2023 is bringing together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here.

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5 e27 Connect investors that made the news last week

Below are the brief profiles of five Connect investors (those who have verified profiles on e27 and agreed to get connected) and what kind of companies they invest in and in which verticals.

Genesia Ventures

Genesia Ventures is a Japanese VC investing in seed and early-stage startups in digital startups in Asia. The firm believes that it can help achieve a thriving society heralded by digital technology through seed and early-stage investments.

The company cuts a cheque of US$100,000 to US$1 million per startup across angel, pre-seed, seed, and Series A stages.

Its focus areas are advertising, agritech, architecture & construction, AI, automotive, Big Data, blockchain, consumer, cybersecurity, e-commerce, education, energy, enterprise solution, entertainment, finance, F&B, gaming, govtech, healthtech, HR, ICT, insurtech, IoT, legal, logistics/supply chain, manufacturing, marketplace, media, medtech, mobile, platform, productivity & CRM, real estate, retail, robotics, sharing economy, smart cities, SaaS, sports, transportation, and travel.

Last week, Genesia announced the close of its third fund at US$110 million across Southeast Asia, Japan, and India. Investors in this fund include Mizuho Bank and Canal Ventures.

Incubate Fund

Incubate Fund is an early-stage VC fund in Japan, with offices in Tokyo, Singapore, Bangalore, and San Francisco. It makes investments in the angel, pre-seed, and seed stages across Japan, India, and the United States.

Its focus areas are advertising, consumer, e-commerce, enterprise solution, finance, and gaming.

Last week, Sumitomo Mitsui Banking Corporation (SMBC Group) launched a US$200-million corporate venture capital fund SMBC Asia Rising Fund with Incubate Fund in Singapore. The fund aims to accelerate business development and partnerships through investments in high-potential Asian startups.

East Ventures

East Ventures is a seed and early-stage venture capital firm based in Singapore, Indonesia, and Tokyo. Founded in 2010 by the co-founder of Mixi.jp and other prominent investors/entrepreneurs in Asia.

The firm invests in Singapore, Thailand, Vietnam, the Philippines, Malaysia, Indonesia, Myanmar, Laos, Cambodia, Brunei, and Japan. The stages of investments are angel, pre-seed, seed, pre-Series A/bridge, and Series A.

The investment range is US$1 million to US$50 million.

On May 9, East Ventures and Trihill Capital co-led Indonesian hyperlocal online F&B startup UENA’s financing round.

Trihill Capital

Trihill Capital is an innovation-focused venture debt fund investing in seed-to-growth industry disruptors in Southeast Asia and public equities globally. Its venture investment arm targets solution-oriented companies and transformative founders across sectors and stages.

Trihill Capital is affiliated with one of the leading agriculture companies in the region and is based in Singapore with a satellite office in Jakarta.

Based in Singapore, it invests in almost every vertical of startups across Indonesia, Vietnam, Singapore, Thailand, the Philippines, and Malaysia. The focus stages are pre-seed, seed, pre-Series A/bridge, Series A, Series B, Series C and above.
The investment range is US$500,000 to US$100 million.

B Capital Group

B Capital Group is a global firm specialising in equity investments in venture and growth-stage companies that have achieved traction with customers. Through its extensive global network and exclusive partnership with The Boston Consulting Group, B Capital helps high-growth startups navigate business challenges, raise capital, and attract talented leadership at key points of their journeys to scale.

It has offices in San Francisco, New York, Los Angeles, and Singapore. The focus verticals are AI, biotech, consumer, cybersecurity, e-commerce, finance, healthtech, insurtech, SaaS, transportation, and travel.

The focus stages are seed, pre-Series A, Series A, Series B, Series C, and above. The ticket size of US$10 million to US$60 million.

Last week, B Capital appointed venture capitalist and climate tech specialist Don Wood as a venture partner of its climate team.

 

Echelon Asia Summit 2023 is bringing together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here.

Echelon also features the TOP100 stage, where startups get the chance to pitch to 5000+ delegates, among other benefits like a chance to connect with investors, visibility through the e27 platform, and other prizes. Join TOP100 here.

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Singapore’s security industry: Why condos ‘peace of mind’ should be resolved with technology?

While it is true that Singapore is widely regarded as one of the safest countries in the world, that doesn’t mean that security concerns don’t exist — especially for those in condos or HDB flats. 

The over-reliance on security guards, electronic gates, doormen and CCTV cameras is a great start for providing residents with a welcome sense of security, but what happens when there are a series of break-ins and the fire alarm has gone off? Without an extra pair of ears and eyes,  monitoring systems and real-time information, it would be impossible for security guards to reach everywhere.

The pandemic has also boosted interest in video surveillance systems, and cloud-based access controls which can all be done remotely to ensure guards have more information at hand to handle multiple things at once without the need to be physically at all places.

But is this enough for condos ‘peace of mind’ and how can technology help security guards move away from 12-hour shifts six days a week to eight-hour shifts five days a week in Singapore?

Resistance to changes

Although many condo management companies value technology to enhance risk management, the industry is still behind at various maturity levels. 

In Singapore, the majority of security agencies are SMEs. Some are family owned with little or no understanding of the latest security technology. On the other hand, the security technology companies in Singapore are not security specialists but more electrical engineering companies that “happen” to install security equipment among their other services. 

Also Read: The future of cybersecurity: A plan to fill the workforce gap and protect the world

Even those that do specialise in security technology tend to adopt an “installer” mindset as opposed to a solution provider approach in their offerings.

For this reason, the Singapore government has developed a road map for the security industry. Led by the Ministry of Home Affairs (MHA), it seeks to transform the industry from one that is manpower-reliant, to one that leverages technology and raises skills to deliver high-quality security solutions.

Security cams that are better in every way

Expanding locations, increasing users, adjusting resolution or extending retention periods; are just some of the reasons that might demand a scalable solution when it comes to CCTV cameras in condos. 

More than that, with a remote surveillance system that connects to a command centre, guards are able to take swift action.

In the past, the CCTV camera was a simple static device that would record everything that was going on in its field of view. That was its only purpose aside from acting as a deterrent to would-be trespassers. 

With the introduction of cloud-based video surveillance systems, these systems offer better business continuity and disaster recovery. Even if someone tampers with the recorder, the recording is stored in the cloud. This also means it’s accessible to users remotely.

Another feature is the introduction of video analytics. These features allow real-time notifications to be sent to users and security officers on incidents as and when they occur.

Making the security industry more dynamic

A recent survey by the Union of Security Employees (USE) stated that four in 10 face abuse at work and six in 10 are planning to leave. The role of a security officer in residential, commercial, office and even social spaces are often stretched too thin as they need to manually do inspections, capture site evidence and keep tenants safe and informed at all times.

In Singapore, the government had proposed that baseline wages for security officers should include wages paid for work done in addition to the regular work week and the basic wage for the rank of security officer be increased to US$2,650. This will assure security officers of sustainable wage growth without needing to clock in excessive hours for a higher gross wage

With the aid of new technological advancements, the security industry in Singapore is bound to fit new roles and adapt to the needs of disruptive technologies globally encouraging innovation and penetrating the untapped potential of the digital age.

Also Read: Is the four-day workweek possible for cybersecurity professionals?

Moving forward with outcome-based security contracts

As of May 2020, the Singapore government had long advocated for outcome-based security contracts to drive innovation challenging the status quo to augment manpower by providing integrated security solutions through the Transformation Map of the Security Industry (ITM) supported by the Ministry of Home Affairs (MHA).

These contracts will focus on the outputs and outcomes, which can resolve manpower issues and reduce costs in the long term. The best part is that an outcome-based approach integrates technology into the solution.

For instance, if a condo in Singapore has recently reduced its manpower to half as it’s not a public holiday and there is no need to deploy security personnel for a particular time period, the remaining personnel will be sent for retraining to accommodate the higher technical requirements. This helps them to achieve this by enhancing their existing security infrastructure and systems.

This changes how we look at a security guard for simply ‘peace of mind’ as technology will replace that. The now and future security officer will no longer be a simple “caretaker”. They will be an empowered professional with an advanced career trajectory akin to that of other professionals, managers, executives and technicians (PMETs) while playing an important part in the safeguarding of the community as a whole.

Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic

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How are Singapore SMEs taking a proactive stance towards sustainability?

In the current macro and geo-political environment, the goal of remaining competitive is complicated by rising interest rates, broad cost escalation, supply chain unpredictability and the rapid change flowing through many industries from digital transformation. Overlaying all these potential hurdles is the spectre of inevitable Environmental, Social and Governance (ESG) compliance requirements and what this looming management variable will require of SME owners.

The domain of ESG issues is a broad and ultimately existential challenge and is often reduced in the general media for ease of communication to the key term of “sustainability”.  The topic of sustainability is now an increasingly common boardroom topic in all entities as well as at the government level, with the impact of this now omnipresent issue clearly capable of impacting P&L results. This article will focus on sustainability issues given the recent attention to climate control. Future articles will tackle social and governance issues from an SME’s viewpoint.

Defining the goal

One leading stakeholder which gives foundational context to the sustainability and ESG agenda is the United Nations Sustainable Development Goals (UN SDG, 2015).  For greenhouse gas emissions (GHG), climate scientists and environmental conservationists have of course for decades championed the need for tempering GHG and carbon pollution levels.

Milestone pronouncements which have given a platform for greater awareness and now the call-to-action include the Kyoto Protocol of 1997, the Paris Agreement of 2015 and the UN SDGs. Industry-aligned councils have also been notable stakeholders, including the World Business Council for Sustainable Development (WBCSD, 1995), the World Resources Institute (WRI) and their GHG Protocol guidance (GHGP, since 2001) which are a leading light on classifying, measuring and disclosing GHG emissions. These various supranational alliances are largely managed under the United National Framework Convention on Climate Change (UNFCCC, 1994).

The focus on compliance with GHG emission targets to meet 2030 targets and beyond, and in turn the creation of a broader momentum to have all societal stakeholders align to these UN-set goals is picking up rapid traction.  Whilst the balance of how developed industrialised countries should lead the initiatives to meet or exceed the targets is debated with emerging countries, the role of corporations, large and small presents an interesting opening for Singapore-based SMEs to become leaders in the domain.

The ESG road ahead for Singapore businesses

The complex and evolving GHGP targets and measurement disclosures are aimed at larger corporations and businesses, with a focus on the energy industry and agriculture where a material source of GHG emissions is attributed. These GHGP accounting standards provide a framework to support the transition of prior business-as-usual practices to evolving new practices and energy sources that help to drive industry, government, and wider society.

Also Read: How to navigate the investment opportunity in climate tech sector

In Singapore, the National Environment Agency (NEA) is the statutory body that oversees GHGP matters, charged with ensuring the NEA Act, 2002 and subsequent legislation, including the Energy Conservation Act 2012, the Carbon Pricing Act 2018 and other Acts that reduce emissions intensity. The amount of GHGs emitted per dollar of GDP nationally is targeted to reduce by 36 per cent from 2005 levels by 2030.

In effect, such a target ultimately requires a marked reduction in emissions for all Singapore-based firms, and not just the larger listed companies, which is the focus of reportable GHG-emitting assets. So, whilst large corporates and even state-owned enterprises that own an industrial facility that emits more than 2000 tCO2 need to report annually on emission statistics, the future contributory expectations of the wider Singapore business community cannot be ignored given the interlocking nature of industry value chains.

The imposition of a carbon tax at the current rate of SG$5.00 (US$4) per tonne of GHG emissions applies to industrial facilities that need to register as taxable facilities when the GHG emissions are at or above 25,000 tonnes of CO2 annually (tCO2e). The slated increase to SG$25.00 (US$18)/tCO2e in the near term as soon as 2024, and a targeted SG$45.00 (US$33)/tCO2e by 2026 and SG$80.00 by 2030 foreshadows broader implications.

Scoping to be proactive

This necessarily granular level of tracking, reporting and taxing is a part of the wider Singapore Green Plan 2030.  Whilst this reporting and taxing requirement are focused on larger corporations, the role of SMEs is not to be forgotten. When we realise that there are more than 70,000 SMEs in Singapore which in aggregate contribute more than 50 per cent of economic output and the majority of employment, SMEs are indeed a key driver of economic activity that needs to be in step with GHG Protocols.

The UNs SME Climate Hub alliance highlights the role of SMEs further by noting in their definition of SMEs such levels of contribution rise to 90 per cent of business volume worldwide. These contribution levels indicate that SMEs in Singapore can and perhaps should take a leadership role.

The GHGP standards framework defines three classifications of emissions.  These are:

  • Scope 1: direct emissions from a corporate’s activities.
  • Scope 2: emissions traceable to purchased energy choices and;
  • Scope 3: emissions due to a wider value chain view of all related activities, encompassing upstream emissions implicit with input purchases through to downstream associated costs of a taxable entities’  product/service output. The looming ultimate accounting capture of Scope 3 emissions reporting will see attributed emissions for all corporate entities more fully attributed and thus accountable to being subject to future carbon pricing policy.

Value chain realities

The difficult and ongoing debate on how to recognise, account for and levy costs on Scope 3 emissions is an ongoing and complex issue. However, SMEs in Singapore have the ability to be proactive and be well-prepared for the inevitable inclusion of Scope 3 emissions as a business cost factor. As SMEs often have larger corporations as their ultimate customer, reflecting in part the broad and global nature of value chains, the incentive to be proactive in preparing for Scope 3 compliance is clear for stakeholders that value the merits of sustainable long-term planning.

Other reasons for a wider pre-emptive approach by SMEs on all 3 levels of emissions per the GHGP framework include:

Revenue reasons

  • Customers of SMEs will increasingly prefer more compliant GHGP-rated companies. Those that acknowledge their efforts in addressing Scope 3 emissions will differentiate themselves positively.
  • Products and services from SMEs that acknowledge the need to have a long-term strategy that addresses Scope 3 emissions will be more attractive to responsible consumers/customers.
  • Where an SME’s products and/or services are purchased by other corporates, such purchasing decisions will increasingly include more stringent procurement criteria that will encompass Scope 3 reduction efforts and measures.

Cost and innovation management reasons

  • A long-term strategy which encompasses all levels of tracked emissions will result in lower COGS, boosting margins and unit economics.
  • Efforts to reduce or control costs and efforts to find supply and conversion manufacturing solutions that result in GHGP-compliant input partners will encourage innovation efforts. Seeking to improve value chain delivery efficiency is fundamental to continuous improvement efforts.
  • Detailed scrutiny of all supplier relationships should lead to closer relationships with value chain partners given the need to understand each other’s interdependencies as GHGP best practice becomes more detailed.

The culture shift needed by Singapore SMEs

The impact of a proactive adoption of a business sustainability approach can be seen as a basic culture shift given that the historic focus areas of many SMEs are on revenue and cash flow amid resource constraints. Being customer-centric and sustainability-centric is a shift that may require deep and long-term changes to practices for many SMEs.

Also Read: The key to tackling climate change: Electrify shipping

Businesses with value chains that are in industry sectors that are materially impacted by the far-reaching effects of more granular measuring, accounting, and reporting requirements pertaining to GHGs in the future will be most challenged.

Being able to account for the GHG compliance levels of input supplies and then the possibility of being more accountable for externalities stemming from post-sale environmental effects such as recycling or disposal costs which are increasingly captured under a broader UN SDG ambit are forthcoming challenges.

But with such challenges, lies the opportunity for such Singapore SMEs to take on a leadership position in business sustainability in their respective industries. The financial ability of SMEs to be proactive in their anticipation of Scope 3 requirements and wider SDG goals will of course be a constraint.

In Singapore, the comprehensive Singapore Greenplan should be understood in the context of a wider array of grants and subsidies that exist in the ecosystem, reflecting the government’s long-term approach to being a leading example in GHGP compliance globally.

Optimistically, in a recent Business Sentiments Survey, IndSights Research found that half of the participating Singapore companies were aware of how they can adopt sustainable and green practices into their business model. It also found that 41 per cent of the companies already had firm plans to adopt sustainable practices, or had the intention to do so in the next 12 months.

Singapore’s SME advantages

The reality of Singapore’s unique history, its modest size and its entrepot status must be seen as only a positive. Its 100 per cent urbanised status and modest 733 square kilometres is a reality which has seen it tackle resource challenges creatively throughout its history.

With strong support from government policy which is pro-innovation and increasingly even more sustainability-centric, SMEs in Singapore have perhaps unparalleled support from government-linked schemes that align with its Greenplan.

The cost shifting to a sustainability-centric business model is not going to be easy. As the fundamentals of the GHGP and the rising awareness around more long-termed holistic views of how the UN SDGs can act as a yardstick for broader societal responsibility, the ability of SMEs to respond to these standards will be questioned. With many SMEs focused on basic short-term survival, how do SME managers embrace these shifting foundation stones positively?

The Singapore Green Plan in unison with other numerous initiatives under the WSQ (Workforce Skills Qualification) and MySkillsFuture umbrellas are just some of the policy, training and funding areas to be familiar with.  In the area of GHGP compliance, there is a multitude of courses, funding grants and subsidies available to bolster the efforts of SMEs to be proactive in being leaders in the GHGP adoption.

Five Ps of a proactive SME

In future editions of this section on sustainability and SMEs, we will explore some of the details of such help available to Singapore businesses.  Meanwhile, the appendix to this article gives a summary of some of the key resources in this complex domain that will be a good foundation for ensuring the appropriate research is done as a prelude to updating (or preparing) your own Green Plan.

Underpinning these multiple complexities is the guidance given by the UN’s SME Climate Hub which suggests a 5-phase approach to breaking down these deep and long-termed strategic and operational challenges.

As a Singapore-based SME, your company should:

  • Pledge alignment with the UN SDGs
  • Plan in detail how to be proactive and comply
  • Proceed and execute the operational plans for compliance
  • Publish your key performance Indicators to be transparent about your progress towards planned targets and
  • Persuade other value chain partners and customers on their shared symbiotic involvement in the journey towards net zero emissions

This article was co-written by David Wai Lun Ng (PhD, CA) and IndSights Research.

Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic

Join our e27 Telegram groupFB community, or like the e27 Facebook page

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Jenfi nets US$6.6M to expand its revenue-based financing business in SEA

(L-R) Jenfi Co-Founders Jeffrey Liu and Justin Louie

Jenfi, a fintech company specialising in revenue-based financing, has raised US$6.6 million in pre-Series B funding.

Headline Asia led the round, with participation from Monk’s Hill Ventures, ICU Ventures, Granite Oak, Korea Investment Partners & Golden Equator Capital, and Atlas Ventures.

Existing early investors also participated.

Also Read: The most important person I need to sell to is myself: Jeffrey Liu of Jenfi

With the funding, the fintech firm plans to expand its presence in Singapore, Vietnam and Indonesia by broadening its customer base while expanding into new markets across Southeast Asia.

Jenfi offers flexible funding options to digital-native businesses looking to scale, unlocking additional marketing, inventory, and growth spending. To date, it has deployed US$25 million in more than 600 companies.

Unlike traditional lenders where the focus lies primarily on evaluating financial statements, Jenfi integrates with a wide array of data sources to monitor and underwrite businesses, such as accounting software (e.g. Xero and QuickBooks), payment gateways (e.g. Stripe and Braintree), e-commerce platforms (e.g. Shopify and Haravan), online marketplaces (e.g. Shopee and Lazada) and digital advertising (e.g. Google, Facebook, and Instagram ads).

With real-time access to these data sources, Jenfi can quickly access, leverage and continuously monitor business activity and the health of companies, obtaining real-time data on revenue growth and marketing ROI.

Also Read: While traditional funding penalises a biz at its worst time, Jenfi gives them more leeway

Jenfi’s automated underwriting platform enables same-day decision-making and disbursement, streamlining the lending process for borrowers.

In August 2021, Jenfi secured US$6.3 million in Series A funding led by Monk’s Hill Ventures, with participation from Korea Investment Partners & Golden Equator Capital, 8VC, ICU Ventures, and Taurus Ventures.

Echelon Asia Summit 2023 is bringing together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here.

Echelon also features the TOP100 stage, where startups get the chance to pitch to 5000+ delegates, among other benefits like a chance to connect with investors, visibility through the e27 platform, and other prizes. Join TOP100 here.

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Why Doctor Anywhere believes that the future of healthtech lies in preventive healthcare

Lim Wai Mun, Founder & CEO, Doctor Anywhere

Within the last two years, some of the most exciting updates from healthtech startup Doctor Anywhere included its US$38.8 million Series C funding round and its acquisition of Asian Healthcare Specialists (AHS), one of the leading integrated specialist healthcare providers in Singapore.

In an email interview with e27, Lim Wai Mun, Founder & CEO of Doctor Anywhere, explains how these milestones will affect the company’s next moves.

“This is part of our long-term goal to build a digital healthcare ecosystem to enable better patient outcomes and help shape the future of healthcare in Southeast Asia (SEA). It is also a crucial step to strengthen our capabilities beyond our successful primary care services, enabling us to deliver personalised, borderless, and inclusive healthcare for our users across the region,” he writes.

Lim is one of the speakers confirmed to participate at Echelon Asia Summit 2023 at Singapore Expo, June 14-15. Before we get to see him on stage, let us catch up with him and the latest from Doctor Anywhere.

The following is an edited excerpt of the conversation.

Also Read: Revolutionising healthcare in Vietnam: The reality of healthtech unveiled

Is there any lesson that you can share with us from your recent milestones, including the funding round and the acquisition?

Doctor Anywhere’s business has grown significantly alongside the change in consumer behaviour towards virtual care, and we believe that this newly formed habit is here to stay.

While telehealth has proven its value amidst the pandemic and will remain a key platform to access care, we’re focused on enabling a more holistic, seamless and personalised healthcare journey, enabling individuals towards long-term, preventive health (vs simply thinking of health only when they are ill).

It’s also a positive trend that we are now more aware of the importance of our health and are willing to explore means to take care of ourselves – whether via digital apps or seeking out alternative treatments, or even second-opinion specialist consults. Our key focus is to build a scalable digital health platform that will enable this further and enable a healthier population through simpler, more accessible, and more affordable health and wellness.

How do the back-to-back global crises that we are facing today affect your decision-making process? What major changes have you made?

We’ve been unwavering in our focus on our patients being our number one priority. This is fundamental to everything we do – from new services, app features, virtual and in-clinic experience, and the partners we collaborate with.

Healthcare remains an area that needs to be viewed in the long term – there are no simple fixes or magical silver bullets to solve the complex health issues emerging today, nor will short-term global events likely change the emerging healthcare challenges facing our region. Driven by our vision, the next stage for Doctor Anywhere will be enabling more personalised, borderless, and inclusive care. This means tapping on data and technology to deliver more tailored and effective care solutions and increasing access to these beyond traditional healthcare infrastructure and borders.

Also Read: Healthtech data: The race for new oil in Southeast Asia

What opportunities do you aim to seize this year?

Besides business and healthcare offerings within the countries we operate in across SEA, we continue to explore other synergistic opportunities to expand or acquire more healthcare companies to join us on our journey to building the largest healthcare ecosystem in the region.

We’ve begun to see a fundamental shift in consumers who, now more informed, are willing to take greater steps beyond lifestyle changes to secure their long-term health and adopt preventive measures/healthy lifestyles. This includes more of our users seeking mental wellness, chiropractic, and specialist services, alongside our DA Marketplace (wellness, supplements, health products) and contraceptive subscription service.

Off the back of a return of regional tourism and the easing of pandemic restrictions, medical tourism has also made a comeback. We launched our DA Wellness Concierge in December 2022, which is an end-to-end medical tourism service for those exploring medical procedures and services in Bangkok.

Our team provides personalised recommendations based on our network of accredited healthcare providers for curated quality, affordable treatments, including aesthetics (botox, derma fillers), fertility (IVF, egg freezing, genetic testing), surgery (liposuction, breast augmentation, hair transplants), and health screenings.

Preventive healthcare will continue to be a key pillar, especially with the benefits telehealth and digital health apps play in making consults, managing chronic conditions, and other services a lot more seamless over the long term.

It is also a priority for governments across the region, such as Singapore’s Healthier SG initiative which would be ramped up this year.

We continue to partner with ministries and public institutions to enable healthier populations now and in the future.

Also Read: Bolstering healthtech: Thailand’s bid to become Asia’s medical hub

What is your major plan this year?

Offering personalised, borderless and inclusive healthcare to our users will be our main focus. By doing so, our users will have access to decentralised healthcare across their care continuum (i.e. primary, secondary, tertiary, step-down care, and wellness).

So, in a sense, we are building one of the largest hospitals in SEA without the hospital building.

For example, our users can be doing health screenings or vaccinations at home or in their offices, accessing primary care offerings via our telehealth service and network of physical GP clinics. Getting second opinions and post-surgery consultations with our medical specialist doctors via teleconsultation will also be the norm. Even post-surgery recovery can be monitored at home, away from hospitals.

Users will also be accessing other ancillary healthcare verticals such as mental wellness and chiropractic services, alongside our online DA Marketplace for supplements and health products.

This points back to our vision to deliver personalised, borderless, and inclusive healthcare and our fundamental basis of putting our patients first and supporting their health and wellness across their life journeys.

Echelon Asia Summit 2023 is bringing together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here.

Image Credit: Doctor Anywhere

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The first 15 startups that made it to this year’s TOP100

TOP100

Use our special promo code: GO for 75% off your Echelon tickets!

The 2023 Echelon Asia Summit is happening at the Singapore EXPO on 14-15 June 2023. Are you a startup founder, investor, corporate, or tech enthusiast? Don’t miss out on one of the most anticipated tech conferences in the region! For more information, visit the official Echelon page.

The TOP100 program is an annual project spearheaded by e27 with the goal of recognising the most promising and innovative startups in the Southeast Asian region and beyond. The program is a highly anticipated event that provides a platform for exciting new startups to showcase their ideas, gain exposure to investors and potential partners, and receive valuable feedback from industry experts.

Through the TOP100 program, startups have the opportunity to pitch their ideas to a panel of judges comprised of investors, corporates, and industry giants. The judges evaluate each startup based on various criteria, including innovation, market potential, team strength, and overall execution.

Winning the TOP100 program can have a significant impact on a startup’s growth trajectory. The program has helped many startups secure funding, gain media attention, and expand their customer base in the regional market.

With its rigorous selection process, 100 startups get to pitch their products and services at the Echelon Asia Summit slated on June 14-15 at the Singapore EXPO. Top contenders will proceed to the finals where winners will be selected.

Without further ado, here are the first 15 startups that will be competing at this year’s TOP100!

The first 15 semifinalists for the 2023 TOP100 

myFirst

TOP100

myFirst is the world’s first KidsTech ecosystem that has safely and securely connected over 1 million kids, families, and friends globally. The company is responsible for enabling kids to access devices, safe apps, connected services, and kids’ social networks through smartwatches, cameras, headphones, smart sketch boards, 3D pens, and more — all in a safe and secure environment.

Connected services enable kids to message, voice note, and make video and voice call to stay connected. Kids can also take and share photos, set reminders, listen to music, track their steps, and monitor their heart rates. Parents can keep track of their kids’ location and geofence with advanced GPS, WiFi, and GSM for accurate positioning, and connect with them anytime. In case of an emergency, an SOS button will also alert parents.

Howuku

TOP100

Howuku is a full-package suite that is intuitive and easy to use so users can make informed UX improvements, and in turn, increase their business revenue and create lasting relationships with customers for life.

Howuku helps product and marketing teams to improve user experience and increase conversion rates with the most comprehensive list of optimisation features such as dynamic heatmap, session recordings, a/b testing, web personalisation, feedback, and many more.

Whether you are a marketer, product manager, or UX designer, Howuku has all the tools you need to make a better product and convert more sales!

Boost Capital

TOP100

Boost is an award-winning B2B2C SAAS platform that allows Financial Institutions to onboard loan and savings account applicants digitally in 5-10 minutes without any app download.

Boost transforms Financial Institutions, expanding their client reach through chat-based financial services.

While banks in Southeast Asia traditionally operate in-person via brick-and-mortar branch locations, Boost allows these banks to enable their clients to apply digitally for loans in 5-10 minutes without an app download. This means massive new reach in new customers. Boost built their tech platform to have simple integrations so they can launch a new Financial Institution in 2-3 weeks.

GuruInovatif.id

TOP100

GuruInovatif.id is a Learning Management System that operates as a source of information in the world of education. They provide information on teaching and learning; a source of data sharing for schools; local government, and central government for continuous development.

GuruInovatif.id is also connected to various schools throughout Indonesia to provide the best experience in teaching and learning. The team behind GuruInovatif.id is always working to improve literacy and numeracy scores as learning outcomes, provide motivation and encouragement in teaching, and build structured relationships and communication with all education stakeholders.

Through competency development, skill-supporting training, and socialisation of educational content through technology, GuruInovatif.id has become an agent of change for the transformation of Indonesia’s education landscape.

HeyHi Pte Ltd

TOP100

HeyHi is a unique AI-enabled assessment and personalised learning system that empowers educators to teach and personalise education efficiently and seamlessly in a highly collaborative learning environment.

With teaching versatility for both live and self-paced instructions in a flexible learning environment — online, on-site, and hybrid, HeyHi magnifies learners’ opportunities and enhances their borderless learning journey.

At its core, HeyHi is an AI-enabled assessment and personalised learning system to Teach, Collaborate, and Personalise learning, in a highly collaborative learning space.

CAWIL AI

TOP100

CAWIL AI is an industry-agnostic artificial intelligence solution with custom machine learning models that can be deployed locally and through cloud integration. CAWIL AI’s value proposition is its experience in utilising data-driven information for digital transformation, providing a seamless and easy-to-integrate cloud-based platform for an on-demand transaction. They provide digital transformation through AI.

Their solutions address Sustainable Development Goals #9 on Innovation and Infrastructure through their digital platform for environmental and corporate management, utilising AI & IoT, and SDG #12 on Responsible Consumption and Production from Agriculture, and Supply Chain Management.

CEREBRO

CEREBRO helps teachers jumpstart online teaching with the least preparation possible, allowing them to save up to 400 hours per year through ready-made digital content on a managed cloud platform as a solution for reducing faculty workload and improving the quality of online teaching.

It completed the Ideaspace Acceleration Program in 2020 and was recognised among the Top 20 RESQUE Startups vs. COVID-19 of QBO Innovation Hub.

As a solution, CEREBRO® employs its pool of instructional designers to develop digital teaching materials that are aligned with the Department of Education’s Most Essential Learning Competencies (MELC) and the Commission on Higher Education’s New General Education Curriculum (NGEC). In addition, CEREBRO® also manages its clients’ learning management systems (LMS) so schools can worry less about maintaining their own IT teams or tech infrastructures and focus more on pedagogy.

Xctuality

Xctuality is an immersive technology startup that is connecting people everywhere by developing the next evolution of social networking that connects people with immersive experiences.

Xctuality’s solutions (Xctuality Interactive – VRAR 360/3D platform with innovative choose-your-own narrative interactive experiences, and Xctualyfe – Metaverse/Web3 platform providing Metaverse as a Service to businesses and ecosystems with functionalities that empower monetisation) help address issues concerning creators, brands, and businesses spending too much money in social media advertising while seeing organic traffic decline in the face of mysterious and often-changing algorithms. Furthermore, data is aggregated and controlled by a handful of large platforms that monetise from individual users’ data without benefiting the user.

Xctuality’s hypothesis is that by providing creators, brands, and businesses the ability to create and curate their very own branded experiences and bring in their base of customers, and having such worlds interconnected, these users could organically discover the various experiences and result in stronger customer loyalty and greater customer lifetime value, while at the same time democratising individual user data and enabling businesses to have better targeting and greater conversion.

ALPHACIRCLE Inc.

ALPHACIRCLE is a renowned startup that has created cutting-edge visual enhancement software called ‘ALPHAView’, which enables content creators to produce high-quality, original VR videos. Their proprietary algorithm is utilised during both the encoding and decoding process, enabling the distribution of four times more pixels to create the most immersive experience possible. This advanced technology allows for the viewing of videos in 8K 3D through smartphones and VR headsets, providing viewers with unparalleled visual clarity.

ALPHACIRCLE’s affordable and optimised VR software also addresses common issues related to image quality and playback synchronisation. This ensures that consumers can enjoy crisp image quality without the need for expensive, high-end VR headsets. Furthermore, their software helps eliminate playback problems and glitches, allowing for a seamless and uninterrupted viewing experience.

Red Dot Analytics

Maximising sustainability by minimising energy consumption for mission-critical infrastructures with Red Dot Analytics (RDA).

Their DCVerse platform harnesses the power of cutting-edge digital twin and AI technology.

With a decade of research from Nanyang Technological University (NTU) Singapore backing them, RDA leads the industry in “cognitive digital twin” technology, offering a virtual replica of real-world systems to simulate change before implementation, delivering optimal operating settings, and up to 40% lower energy consumption.

PriyoShop

When we talk about small businesses, we primarily focus on neighbourhood mom-and-pop shops, also known as retailers. These are the small shops we see around us on our streets. If we talk about the former, 97% of our country’s retail sales take place through them; e-commerce and modern retail play a smaller role. So, the majority of the retail transaction is actually taking place through neighbourhood shop retailers.

PriyoShop is a B2B e-commerce marketplace that is digitalising B2B trade for the unorganised retail sector in Bangladesh. The company’s platform connects small-scale retailers directly with manufacturers and suppliers. PriyoShop’s app allows small retailers to procure inventory from wholesalers, distributors, and manufacturers at competitive rates.

BOOQED

BOOQED is a digital platform that empowers teams to truly work from anywhere and to help organisations become more agile in their approach to the office.

BOOQED simplifies how businesses deal with this process, making it an effortless outsourced tech solution for businesses. Its cutting-edge modular hardware and software platform provides an easy and cost-effective way for companies to create and manage private, flexible work and meeting spaces within their existing offices or buildings. Users can easily make bookings for spaces and gain access to meeting rooms via the mobile and web app. Modular furniture, smart booths, movable walls and a proprietary access control solution — along with the ability to deliver integrated amenities such as printing and automated coffee dispensers via the web app — provide a turnkey solution that can be deployed in any existing office or lobby space. Full automation reduces human resource requirements. Data analytics tools provide snapshots of how the space is being used.

Tictag.io

Tictag is a startup born in Singapore focusing on crowdsourcing data annotation. By simplifying data annotation tasks and putting them on a groundbreaking, gamified mobile application, Tictag aims to become the best way for people and companies to work with data. Whether it is for powering computer vision AI models or enhancing data analytics systems, Tictag offers high-quality, labelled datasets regardless of industry.

Tictag was designed to be extremely accessible and inclusive, allowing seniors and people with disabilities to perform micro-jobs on their phones. Through this, they aim to bring more opportunities to the community, especially to the disadvantaged and vulnerable parts of our population.

Ailytics

Ailytics is a Singapore-based company with the goal of enhancing safety and maximising productivity by leveraging existing cameras to receive real-time actionable insights and make better-informed decisions.

Ailyssa, their flagship product, is a video analytics solution that can connect to any current CCTV infrastructure to offer real-time warnings, trends, and reports.

Ailyssa is used by site staff and managers to evaluate subcontractor performance, track construction progress, educate workers on risky practices, and reinforce company safety standards. End-users such as project managers and safety officers can leverage this technology to have better visibility of their site’s overall safety and progress to make better-informed decisions for their operations.

Finext

Finext automates your personal financial management. Users simply have to snap receipts and Finext will automate your expenses tracking and personal tax calculations.

Messy receipts? Tedious and time-consuming to track your personal expenses? Have to keep physical receipts for 7 years for claiming tax relief? Finext helps you to automate all these work within one app. Just snap your receipt, and Finext will do the rest with the help of Artificial Intelligence. Users can submit their personal income tax with just one click, and Finext will calculate payables and rebates and submit them easily. 

Their vision is to become users’ everyday personal finance app.

To be battled out at the 2023 Echelon Asia Summit

Watch out for these exciting startups as they battle it out on the TOP100 pitching stage at the 2023 Echelon Asia Summit happening on June 14-15 at Singapore EXPO.

The Echelon Asia Summit is a leading technology conference that brings together experts from around the world to discuss the latest trends and innovations in the industry, share expert knowledge, and provide opportunities to network with peers. The event is a must-attend for anyone in the tech industry looking to stay ahead of the curve.

Catch these startups and more at this year’s TOP100 stage! To learn more about Echelon Asia Summit 2023 and to sign up for the event, visit the official page here.

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Gen Zs, Millennials, and Baby Boomers: When are they most productive at work?

We have become familiar with negative generational stereotypes, however seemingly accurate, or perhaps even more likely, exaggerated they might be. With several distinct age groups currently working together, namely the Gen Z, Millennial, Gen X, and Baby Boomer generations, perceptions of generational differences in the workplace are undeniably prevalent. But are they important?

Life as we know it continues to undergo seismic changes, including a large ageing workforce, rapid technological advancements in an increasingly digital world, shifting perceptions about diversity, equity, and inclusion, and a global pandemic that accelerated trends toward flexible work.

More than ever before, it is critical for organisations to understand their employees — not as broad generational demographics with uncompromising differences, but rather as people with unique work styles, needs, and preferences, which influence job satisfaction, performance, and longevity.

The Future of Time, a global study fielded by Adobe Document Cloud on the nature of modern work, shows how significant these preferences are, and points to important organizational adaptations that employers can make to attract and keep top talent.

Enable flexibility for better productivity and outcomes

According to The Future of Time, younger generations feel pressured to work during office hours, but that’s not always when they’re the most productive. The past few years have shown that they can be just as productive managing their own time, starting work as early or finishing as late as they please – even breaking up their work day for personal errands.

Also Read: Effective marketing strategies to win over Gen Z for your startup

In fact, housework emerged as a popular non-work activity among Southeast Asian employees working remotely. Even with designated work hours, about one-fifth of Singaporean employees surveyed say they carry out household chores when not working during office hours.

By understanding the generational differences — and, more importantly, treating employees as unique individuals — employers who exercise flexibility can set their workers up for success.

While managers and employees alike crave flexibility in their schedules, this is especially true for Millennial and Gen Z workers. What’s more, the cost of falling short is even higher for their employers. A study by the Institute of Policy Studies (IPS) in 2022 showed that more employees have indicated that they would consider changing jobs if working from the office becomes the default.

Between December 2021 and February 2022, 37 per cent of employees surveyed in Singapore said that they would consider looking for another job if their employer requires them to return to the office on most days.

However, among those surveyed from March to April 2022, when there was a further relaxation of COVID-19 measures, this figure grew to 42 per cent. In addition, 78 per cent of Millennial employees would switch jobs for a better work-life balance, compared to 50 per cent of Boomers.

For employees, burnout and attrition from rigid work requirements are real. And for employers that respond inadequately to the needs of their workers, so are the consequences. It’s a potentially urgent problem.

IPS reported that younger employees were more likely to plan on leaving their jobs in the next 12 months as compared to those who were older. Around 40 to 44 per cent of employees aged below 50 were planning to leave their job in the next 12 months, while 17 to 23 per cent of employees aged 50 and above are planning to do so in the same duration.

Adobe’s Future of Time study also revealed that employees who opted to stay with their current employers cited schedule and location flexibility as top reasons. These adaptations are straightforward but don’t come overnight — they require fresh perspectives, updated trust in employee competence and reliability, restructuring of outdated processes, and implementation of the right tools.

As Singapore’s workforce increasingly transitions towards hybrid work models, employers must redesign their processes and infrastructure. Technology such as cloud storage and collaboration applications can be a great enabler, allowing employees to access critical resources and continue co-creating solutions while working remotely.

This is corroborated by the Monetary Authority of Singapore (MAS)’s study, which showed that organisations with the right technology and infrastructure were able to quickly adapt and address new challenges triggered by hybrid work models.

But modern workers don’t just want flexibility, they want to be more productive and efficient too.  Younger generations of employees are issuing an unspoken mandate of sorts to companies that workplace and schedule flexibility, and the digital tools and processes which facilitate that flexibility, are essential,  not only to attract and retain them but also to ensure they can work effectively.

Also Read: Gen Z is redefining global consumption. Can companies keep up?

Companies now have an opportunity to seamlessly reshape the modern office to become digital, flexible, and more successful – and avoid the potential perils of ‘The Great Resignation’.

Talent attraction hinges on flexible working arrangements

Many organisations today are departmentally siloed, increasingly remote, and busier than ever. It is essential that an organisation’s technology infrastructure must enable staff to work in a hybrid way, in the office, from the home or a third location such as a shared workplace, according to MAS. Tools that empower collaboration and security will help to save time and accelerate business operations.

Building a flexible system of remote-ready tools and processes creates an efficient, productive document workflow for every team in an organisation. Employees in every line of business can see their productivity soar when implementing an integrated document management solution.

Understanding the needs of a modern, intergenerational workforce is imperative to creating an environment that both attracts talented employees and persuades them to stay. Automated, digital solutions can help employees and business leaders work smarter, simpler, faster, and more flexibly, wherever, and whenever, they choose, without compromising productivity.

Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic

Join our e27 Telegram groupFB community, or like the e27 Facebook page

Image credit: Canva Pro

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Unleashing AI’s potential: The vital role of human guidance in AI’s growth and learning

The global market for artificial intelligence (AI) has experienced a dramatic spike in interest, with projections indicating a twenty-fold increase by 2030.  Despite AI’s rapid growth, becoming a significant part of the global technology mix, its limitations make it clear that AI cannot develop without human intervention.

The growth and integration of AI

AI’s rapid growth and learning have been evident in recent years.  Since 2010, AI research has increased two-fold, and newly funded AI startups have increased three times between 2013 and 2022.  In 2022 alone, private AI investments were eighteen times greater than in 2013.  Furthermore, global adoption of artificial intelligence is on the rise, with businesses across various countries exploring and using AI.

As AI becomes increasingly integrated into our lives, 60 per cent of people expect significant changes in sectors like education, transportation, shopping, entertainment, and safety within the next three to five years.  ChatGPT, with its one hundred million monthly active users as of January 2023, has been a game-changer in the recent excitement around AI.

Also Read: Is ChatGPT a great invention or is it being ‘hyped’

The human element in AI development

However, artificial intelligence is not perfect and is not self-sustaining.  Current AI systems lack the ability to narrow research focus, set exploration prompts, exert judgment, determine essential data, manifest their design, explain conclusions, and have the desire or will to accomplish tasks.  Additionally, artificial intelligence cannot tap into human soft skills like creativity, empathy, and teamwork.  While some AI applications, like ChatGPT, can pass the Turing Test, no platform has passed the Lovelace Test.

Because of these limitations, major world leaders and technology experts have signed a petition to halt artificial intelligence development.  AI needs human intervention to reach new heights, and searches for AI services have increased by 1,400 per cent on platforms like Fiverr.

Sam Altman, CEO of OpenAI, envisions AI as a co-pilot, while Fei-Fei Li, Sequoia Capital Professor of Computer Science at Stanford University, emphasizes that humans make AI, for humans.  Marvin Minsky, the Father of AI, and Eric Schmidt, former Google CEO, also highlight the indispensable nature of AI as a research assistant for researchers.

To unlock AI’s potential, the human element must be incorporated.  Combining AI with human intelligence enables the accomplishment of significant tasks in a short time, adding a human touch to boost AI capabilities. This could lead to advancements in AI in numerous ways, such as multitasking, discernment, moral decision-making, empathy, and creativity.

Understanding one’s role in artificial intelligence curation is essential for making the best use of artificial intelligence.  Creativity and adaptability are the most crucial aspects that AI needs to learn from humans. As AI is inherently motiveless and requires human guidance, directing it through curation is essential. Humans need to make judgments about what they see on screen and take decisive action regarding how the information should be used.

Also Read: How Transparently.AI uses Artificial Intelligence to detect accounting manipulation, fraud

Ultimately, unlocking AI’s potential starts with human interaction.  Those who can create human-centric commands hold the key to the future of artificial intelligence.  As AI continues to grow and integrate into various aspects of our lives, it is our responsibility to guide its development and ensure that it complements human capabilities.

In an age where artificial intelligence is increasingly prevalent, the human touch remains indispensable for achieving artificial general intelligence.  By fostering a synergistic relationship between humans and machines, we can ensure that AI serves as an invaluable tool, enhancing our lives and contributing to the betterment of society.

As artificial intelligence technology advances, it is crucial to remember that it is our collective power, creativity, and will which determine the course of AI’s development.  The future of AI is in our hands, and it is up to us to shape it into a valuable and beneficial asset for humanity.

With careful planning, management, and collaboration, we can overcome the challenges that artificial intelligence currently faces and unlock its potential to revolutionise various sectors, from education and transportation to shopping and entertainment.  By embracing our role as AI curators and guides, we can ensure that AI develops in a manner that aligns with our values and serves our best interests.

Artificial intelligence and humans have the potential to become invaluable partners in our pursuit of knowledge, growth, and innovation.  By recognising and embracing the unique qualities that humans bring to the table, we can work together with artificial intelligence to create a brighter, more prosperous future for all.

Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic

Join our e27 Telegram groupFB community, or like the e27 Facebook page

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