Hello Mr Tan
Some years ago I was shocked to hear of a person who ran an advert for a secretary in Singapore. He would invite them to a local hotel lobby for the interview and make a list of the girls he liked. Later he would call the girls and say unfortunately the job had been delayed for a few months due to head office changes. She was an ideal candidate and he would take her to dinner to make up for it. Of course there was no job. He had a very high success rate with the girls because the job seekers were keen to please, keen to show themselves in the best light, and keen to keep his nterest for the job. Exploitation of the worst kind.
I have recently heard that some Land Banking and MLM companies are running adverts for job seekers on job sites where the job does not actually exist. These adverts are normally very cheap to publish they typically contain text sayng how great the company is. Applicants are obviously very keen to receive communications with the company. I regard this a partiularly unethical as job seekers are very often in a state of mind where they are keen to please any prospective employer and this leaves them open to be sold products or to introduce compliant family and friends who want to help them. Since much of the media will not carry land banking adverts the job sites are also way to continue advertising.
I would caution your readers that not all job adverts are what they seem and to carefully research all companys before approaching them.
SF
My views
I agree with the views. It is important for the job seeker to check the background of the company, before attending an interview. Alternatively, it is better to have the interview by telephone or e-mail, rather than a physical visit.
Monday, July 12, 2010
A difficult choice
Hi Mr. Tan,
I am a insurance agent directly representing one of the insurance companies in Singapore. I have been in this line for more than a year now and have done pretty alright for myself. I joined this career as my mother was in this industry and encouraged me to join. Being a direct beneficiary of insurance as both my grandparents and my father tackled medical problems in their lives, I strongly believe in insurance and wish benefit people while making a living for myself.
Increasingly, however, I feel that my company's products are limited and not as competitive. For example, it is difficult for me to implement a BTITR strategy for my clients also as my company's term plans are relatively more expensive. I have explored the option of joining an IFA so that I can have a wider range of products to benefit my client, but due to the recurring nature of my income, it is not beneficial for me to do so.
What do you suggest I do such that I can do good by my clients and still make a living?
Tied Insurance Agent
REPLY
It is a difficult choice for you to make, but you have to find the answer that suit you. Some IFAs found a way to charge a transparent fee for the advice given to the customer.
I am a insurance agent directly representing one of the insurance companies in Singapore. I have been in this line for more than a year now and have done pretty alright for myself. I joined this career as my mother was in this industry and encouraged me to join. Being a direct beneficiary of insurance as both my grandparents and my father tackled medical problems in their lives, I strongly believe in insurance and wish benefit people while making a living for myself.
Increasingly, however, I feel that my company's products are limited and not as competitive. For example, it is difficult for me to implement a BTITR strategy for my clients also as my company's term plans are relatively more expensive. I have explored the option of joining an IFA so that I can have a wider range of products to benefit my client, but due to the recurring nature of my income, it is not beneficial for me to do so.
What do you suggest I do such that I can do good by my clients and still make a living?
Tied Insurance Agent
REPLY
It is a difficult choice for you to make, but you have to find the answer that suit you. Some IFAs found a way to charge a transparent fee for the advice given to the customer.
Mystery shopper
The regulator in Hong Kong will be using the mystery shopper to check on how financial products are sold to the public. Read this article.
My view
While this may not be popular with the financial institution, it is necessary to have this check. The financial institution has the duty to ensure that the products are sold properly to the retail investors. I hope that a similar scheme be implemented in Singapore.
My view
While this may not be popular with the financial institution, it is necessary to have this check. The financial institution has the duty to ensure that the products are sold properly to the retail investors. I hope that a similar scheme be implemented in Singapore.
Promotion of books
The promotion of books is drawing good response. Most popular items are financial planning and tangram. The promotion will end on 31 July 2010. Act now.
Commercial company and opt-out
Dear Mr. Tan
My company (a SME) just received a letter from Singapore Information Services Pte Ltd (the company doing Yellow Pages). Please see letter attached.
The letter seems to imply that I must pay the charges ($1 per day) unless I "call, email or fax" by 31 Jul 2010. I did not remember paying anything in previous years or having any business relationship with them. I can understand if the government uses this "opt-out" scheme for administrative efficiency, but this is a profit-making private company!
I suppose if I ignore the letter, there will be another letter later on demanding payment. How many SME owners will be mislead or just pay to avoid trouble!
My question is
a) How can a big established company like Singapore Information Services employ such sales tactic?
b) Isn't CASE supposed to be looking after the interest of consumers?
Huang HW
My company (a SME) just received a letter from Singapore Information Services Pte Ltd (the company doing Yellow Pages). Please see letter attached.
The letter seems to imply that I must pay the charges ($1 per day) unless I "call, email or fax" by 31 Jul 2010. I did not remember paying anything in previous years or having any business relationship with them. I can understand if the government uses this "opt-out" scheme for administrative efficiency, but this is a profit-making private company!
I suppose if I ignore the letter, there will be another letter later on demanding payment. How many SME owners will be mislead or just pay to avoid trouble!
My question is
a) How can a big established company like Singapore Information Services employ such sales tactic?
b) Isn't CASE supposed to be looking after the interest of consumers?
Huang HW
Winner of Quiz 6-3
The winner of the Intelligence Quiz Vol 3 book prize for Quiz 6-3 (correct answer is "salesman") is:
Mobile xxxx2405 NRIC: Sxxx8571/I.
Congratulations.
Please send your mailing address, NRIC and mobile phone to kinlian@gamail.com
Mobile xxxx2405 NRIC: Sxxx8571/I.
Congratulations.
Please send your mailing address, NRIC and mobile phone to kinlian@gamail.com
FIFI World Cup - Winners of Tangram Book Prize
The 3 winners of the Tangram book prize, who submitted the correct entry SHGU, are:
Mobile NRIC
xxxx1115 Sxxx4636G
xxxx7893 Sxxx3544F
xxxx1448 Sxxx8352B
Congratulations. Please send your name, mailing address, NRIC and mobile number to kinlian@gmail.com
Mobile NRIC
xxxx1115 Sxxx4636G
xxxx7893 Sxxx3544F
xxxx1448 Sxxx8352B
Congratulations. Please send your name, mailing address, NRIC and mobile number to kinlian@gmail.com
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