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Tuesday, July 19, 2011

The problems with fresh grads in Malaysia

PETALING JAYA: Poor attitude -including asking for too much money - is the chief reason why employers shy away from hiring fresh graduates. Another common complaint is that many graduates are poor in English.
A survey by online recruitment agency Jobstreet.com showed that 55% of employers cited unrealistic expectations of salaries while 48% of them said poor English was the main reason why Malaysian fresh graduates from both public and private institutions remain unemployed.
“While previous surveys named poor English as the main cause for unemployment, bad attitude has now topped the list,” said its chief operating officer Suresh Thiru.
He said their attitudes were so bad that some did not even bother to inform the companies if they were running late or unable to attend scheduled interviews.
It was announced that the number of jobless graduates had increased from 65,500 to 71,600 although the overall unemployment rate had dropped from 3.4% last year to 3.1% during the first quarter of this year.
Another study by recruitment agency Kelly Services showed that fresh graduates asked for flexible working hours and expected their work to accommodate their personal life, not vice versa.
Its marketing director Jeannie Khoo said employers were also turned off by the lackadaisical attitude and lack of drive to improve among many of them.
“They have the misconception that they can earn high salaries at entry-level. They enter the banking industry expecting to earn RM3,000 while the market rate is only RM2,200,” she said.
PricewaterhouseCoopers Malaysia head of recruitment Salika Suksuwan said some candidates had many offers in hand but acted unprofessionally in rejecting job offers - by not turning up for interviews or the first day at work.
“We sometimes have to call them and remind them about a scheduled interview when they didn't turn up,” she said.
Talent Corp CEO Johan Mahmood Merican urged fresh graduates not to make demands on their salary.
“It is more important to join a company that can develop your skills and prepare you for future opportunities,” he said.
In a related development, Human Resource Deputy Minister Datuk Maznah Mazlan said half of the applicants who registered with the JobsMalaysia portal (www.jobsmalaysia.gov.my) had found employment.
Speaking when launching the Graduan Aspire 2011 employment fair yesterday, she said about 300,000 job applicants were currently registered with the website.
PETALING JAYA: Poor attitude -including asking for too much money - is the chief reason why employers shy away from hiring fresh graduates. Another common complaint is that many graduates are poor in English.
A survey by online recruitment agency Jobstreet.com showed that 55% of employers cited unrealistic expectations of salaries while 48% of them said poor English was the main reason why Malaysian fresh graduates from both public and private institutions remain unemployed.
“While previous surveys named poor English as the main cause for unemployment, bad attitude has now topped the list,” said its chief operating officer Suresh Thiru.
He said their attitudes were so bad that some did not even bother to inform the companies if they were running late or unable to attend scheduled interviews.
It was announced that the number of jobless graduates had increased from 65,500 to 71,600 although the overall unemployment rate had dropped from 3.4% last year to 3.1% during the first quarter of this year.
Another study by recruitment agency Kelly Services showed that fresh graduates asked for flexible working hours and expected their work to accommodate their personal life, not vice versa.
Its marketing director Jeannie Khoo said employers were also turned off by the lackadaisical attitude and lack of drive to improve among many of them.
“They have the misconception that they can earn high salaries at entry-level. They enter the banking industry expecting to earn RM3,000 while the market rate is only RM2,200,” she said.
PricewaterhouseCoopers Malaysia head of recruitment Salika Suksuwan said some candidates had many offers in hand but acted unprofessionally in rejecting job offers - by not turning up for interviews or the first day at work.
“We sometimes have to call them and remind them about a scheduled interview when they didn't turn up,” she said.
Talent Corp CEO Johan Mahmood Merican urged fresh graduates not to make demands on their salary.
“It is more important to join a company that can develop your skills and prepare you for future opportunities,” he said.
In a related development, Human Resource Deputy Minister Datuk Maznah Mazlan said half of the applicants who registered with the JobsMalaysia portal (www.jobsmalaysia.gov.my) had found employment.
Speaking when launching the Graduan Aspire 2011 employment fair yesterday, she said about 300,000 job applicants were currently registered with the website.

Monday, July 18, 2011

Alliance is HwangDBS top bank stock pick 2011




Alliance Financial Group Bhd rose after HwangDBS Vickers Research Sdn Bhd said the Malaysian lender is its top pick in the banking industry, replacing Hong Leong Bank Bhd which is near its target price. 

Alliance gained 2 per cent to RM3.61 at 9:43 a.m. local time in Kuala Lumpur trading, set for its highest close since July 7. 

Hong Leong dropped 0.7 per cent to RM13.50. -- Bloomberg 

Proton overtakes Perodua in sales in H1, 2011

Proton Holdings Bhd has pipped Perusahaan Otomobil Kedua Sdn Bhd (Perodua) to the top spot in car sales for the first half of this year with 74,519 units sold against Perodua's 62,584.

The Malaysian Automotive Association (MAA), in its market review released today, said Proton increased its sales from 65,918 seen in the same period of last year but Perodua saw a decline in its sales from 71,375 previously.

As for sales among the non-national car segment, Toyota was number one with 21,653 units sold in the first half year although this was a decrease from 25,697 units sold previously, followed by Honda with sales of 15,807 units compared with 18,796 units.

Total passenger vehicle sales in June was also 4,255 units or 9.2 per cent lower than the previous month. 

Among the factors cited for the lower performance included the impact the March earthquake and tsunami had on supply from Japan as well as the implementation of the amended Hire Purchase Act 1967. 

MAA said the Act had resulted in a longer leadtime for completion of sales process, causing some slowdown in new vehicle registrations. 

However, the association has projected sales to be better in the second half of this year with production expected to pick up to normal levels from August onwards as well as with the introduction of new models. 

MAA nevertheless has revised downwards the vehicle industry sales forecast for this year to 608,000 units, from an earlier estimate of 618,000. Last year, the total industry sales was at 605,156 units. -- Bernama

Sunday, July 17, 2011

Study: Malaysian women 16th most stressed

NEW YORK: Malaysian women rank as the 16th most stressed women in the world, according to a recent study.
Indian women rank as the world's most stressed women, says the study, prepared by the information and media company, Nielsen.
The study shows that women in India live and work under considerable time pressure.
Indian women are the most stressed (87%), the study shows, closely followed by Mexican (74%) and Russian women (69%). In the developed countries, the stress level is the highest for women in Spain (66%), France (65%) and Italy (64%).
Malaysian women (44%) rank 16th in the list while women in Thailand (45%) share the 15th spot with South Korea (45%).
Japanese women (52%) rank 12th while mainland Chinese women (51%) rank 13th.
The study, which researched the buying and other social behavioural patterns of women in 21 developing and emerging economies of the world, reveals that women all over the world feel stressed out, with women in the so-called emerging countries facing greater stress than women in the developed countries.
According to India's Economic Times, the greater stress levels of women in the newly industrialised countries can be attributed to the fact that in recent years, for example, in India, the corporate sector and the jobs have developed at an extremely fast pace whereas the society has stagnated with its traditional role patterns. - Bernama

Thursday, July 14, 2011

EPF expands critical illness list; withdrawal allowed for medical equipment

KUALA LUMPUR: The Employees Provident Fund Thursday announced that it has extended its list of critical illnesses eligible under its health withdrawal scheme from 39 to 55.
It will also permit its members to purchase critical medical support equipment and peripherals effective Friday.
The EPF had last extended its list of critical illnesses under its Health Withdrawal scheme from 13 to 39 on June 15 last year.
In a statement, EPF CEO Tan Sri Azlan Zainol said: "As an organisation that cares for the wellbeing of its members, the EPF has taken the initiative to further extend the list of critical illnesses eligible under Health Withdrawal to help ease the financial burden of members in seeking immediate and the necessary medical treatment.
"In addition, members now may even withdraw for the purpose of purchasing supporting medical equipment," he said.
The latest revised health withdrawal benefits covers an additional 16 types of illnesses including severe chronic obstructive pulmonary disease, lung fibrosis, chronic inflammatory bowel disease, systemic sclerosis with pulmonary hypertension and Acquired Immuno-Deficiency Syndrome (AIDS), which if not treated at that particular time can prove fatal, as well as three types of mental illnesses.
Withdrawal for the purchase of medical support equipment and peripherals is now permitted to treat patients suffering from all malignancy (cancer) illnesses and illnesses which involve the disorders of cardiovascular system, respiratory system, nervous system, musculoskeletal system and ear.
Under the health withdrawal scheme, members can withdraw savings from their EPF Account 2 to pay for their personal or family members' medical costs incurred for the treatment of critical illnesses.
Family members under this withdrawal include spouse, children, step-children or legally adopted children, parents, parents-in-law, step-parents or legally foster parents, and siblings.

Tuesday, July 12, 2011

Top 10 Companies with the Toughest Interview Questions

Some companies ask candidates to describe their strengths and weaknesses during a job interview, while others like global consulting firm Bain & Company, ask applicants to figure out how many ping pong balls can fit into the overhead compartment of a 747 plane.
In recent years, tech companies like Google have developed a reputation for conducting tough interviews, but according to a recent survey by Glassdoor.com, a job search engine, it's really consulting groups like Bain & Company that ask candidates the most difficult questions.
Glassdoor analyzed employee reviews for dozens of companies on its site to pinpoint the organizations with the most daunting interviews and found consulting firms dominated the very top of the list, while Google ranked down at No. 21, just behind fellow tech giants eBay and Amazon.
So what is it that makes interviewing at a consulting company so difficult?
"With consulting companies, the questions aren't just about your resume. It's also situational problems that job candidates have to reason through to find a solution," said Samantha Zupan, a spokesperson for Glassdoor. "And we all know it's really stressful to have to go deep into those questions and try to shine while coming up with an answer."
Just because these companies have tough interviews doesn't make them bad places to work. In fact, just the opposite seems to be true. Glassdoor's reviews found that employees were generally satisfied with most of the companies on this list, despite the difficult interview process. As Zupan points out, these tough interview questions arguably help companies find the most suitable workers, and help workers determine if the company is right for them so that both are more satisfied in the long run.
Here are the 10 companies with the hardest interview questions, ranked on a scale of one to five, with five being the hardest, along with some sample questions from each company, as provided to Glassdoor by their employees. Start preparing for the interview now.

©kenhodge13/flickr
BP
BP may be infamous for other reasons, but it turns out the oil company is also notorious for its job interviews.
Interview Difficulty Rating: 3.5
"How many volts does it take to power an offshore rig?" -- For an engineering internship.
"If you had to change a tire how would you do it?" -- For a mechanical engineering position.
Red Ventures
This South Carolina-based marketing group boasts that it has been called the next Google, but in reality, the company has surpassed Google, at least in terms of the interview process. However, unlike some of the other companies on this list, its questions often veer toward the eccentric rather than problem solving.
Interview Difficulty Rating: 3.5
"If you were an animal, what animal would you be?" -- For a regional account representative.
"Tell me a joke." -- For a sales agent.
A.T. Kearney
A.T. Kearney is the first of several consulting firms to make the list, and focuses mainly on working with companies to be more socially responsible, perhaps most notably by improving their environmental sustainability.
Interview Difficulty Rating: 3.5
"What companies in the Polish energy sector do you know?" -- For a business analyst position.
"How big is the market size for wheelchairs in Shanghai?" -- For a business analyst position.
Teach for America
Teach for America is known for being one of the most challenging -- though rewarding -- experiences a young adult can undertake, training recent college graduates to teach in low-income public schools around the country. Given the stress that comes with the job, it should come as little surprise that the organization would have a particularly difficult interview process to weed out applicants.
Interview Difficulty Rating: 3.5
"You want to take the third graders on a field trip to the zoo, but there is no extra funding to do so. You must ask the principal to reconsider and allow your students to go on the field trip. Explain how you would persuade the principal." -- For a teaching position.
"Can you think of anything that might make you leave TFA earlier than your two-year commitment?" -- For a teaching position.
Palantir Technologies
One of the few technology companies to rank near the top of the list, Palantir specializes in putting out software to help governments and financial organizations analyze data.
Interview Difficulty Rating: 3.5
"You have a 10x10x10 rubix cube. You paint the outside. How many cubes have paint on them?" -- For an embedded analyst position.
"You are outside a room. Inside the room there are two light bulbs. One light bulb is on all the time, the other light bulb only turns on when you open the door. How do you determine which light bulb is on all the time?" -- For an engineering position.
Boston Consulting
This Boston-based consulting group often ranks as one of the best companies to work for, and indeed, Glassdoor's data show high levels of employee satisfaction here, with the average worker giving the company a four rating overall. Still, the interview questions range from quirky to brain busters and will likely make candidates sweat in their seats.
Interview Difficulty Rating: 3.6
"Estimate the market size of IVF treatment in Sweden." -- For a management consulting position.
"Why do you like singing?" -- For a consulting associate.

©Bain.com
Bain & Company
As we mentioned in the beginning, this is one consulting group that really knows how to ask a hard question.
Interview Difficulty Rating: 3.6
"Help me estimate how many car dealerships there are in the United States." -- For a consultant position.
"What is the revenue of an inner city Sydney gym?" -- For an associate consultant position.
Cree
Cree produces LED light fixtures and bulbs and is the only other tech company to rank high on Glassdoor's list. Its questions are particularly fascinating.
Interview Difficulty Rating: 3.7
"How is the pothole formed?" -- For a science position.
"How many barbers would you need in a city of 1 million?" -- For a process engineer.
Jane Street Capital
It's not just consulting groups and tech companies that pose difficult questions. Jane Street Capital, a trading firm with offices in New York, London and Hong Kong, knows how to grill job candidates better than most. Its questions of choice focus on math skills.
Interview Difficulty Rating: 3.7
"What's 26 times 27?" -- For a capital trader position.
"What is the expected number of flips of a coin to simulate a six-sided die?" -- For a capital assistant trader position.
McKinsey & Company
Of all the major companies, none poses a more challenging interview than McKinsey & Company, a global consulting group that helps big businesses manage customers, developer marketing strategies and handle mergers and acquisitions. Since employees at this company play such a crucial role advising other businesses, it stands to reason that they need to be highly qualified, hence the tough questions.
Interview Difficulty Rating: 3.9
"A Canadian beer manufacturer notices that when they increase the price of beer, other drinks' consumption goes up. How will you predict the change in quantity bought based on change in price?" -- For an analytics specialist.
"A mom-and-pop music shop wants to grow with stiff competition. How should they go about it? Calculate customer lifetime value." -- For a marketing professional.
This article is part of a series related to being Financially Fit

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