Leaders looking back

Stephen Wong

Director, KPK Quantity Surveyors Singapore

There are two significant learning points which I will take away as 2009 draws to a close.

At the heart of every company palpitates a core team. When the economic maelstrom came upon us, it was our core team of committed Senior Executives and Managers (SEMers) who soldiered on with heart, fortitude and resilience. Their immediate action in working and giving everything they had for our clients, whilst at the same time assuring their colleagues, bears testimony to the fact that they can overcome adversity and turn things around for the better. We are proud and to have selected, developed, and groomed our SEMers and retained them as our heart and core all these years. For us, they represent our best competitive advantage ever!

The other lesson was on the risks of complacency. When the economy was booming, we thought the good times would never cease. How blind and presumptuous we were! We became less than careful to match cost effectiveness with productivity against our business decisions and corporate policies. When the crisis hit, we had to rein in costs and become very mindful on unnecessary expenses.

Stephen Lockley

Managing Director, Sodexo Singapore

Often, companies are under pressure to increase productivity, profitability, and revenue growth. This overshadows the importance of how an unengaged work force can negatively affect productivity. This is especially so in an economic downturn as companies strive to sustain their businesses. Unfortunately, many organisations were unable to motivate their employees as they turned to drastic HR measures.

As the Managing Director of Sodexo Singapore, the best lesson I got from this experience was an affirmation of a long-held HR rule of creating the right culture, underpinned by a consistent HR strategy.

This is closely aligned to Sodexo’s corporate philosophy of transparency, respect, business integrity and growing loyalty within the company. Through regular assessments and communication, we try to understand our people better and create an environment that allows them to grow professionally and personally.

Operating through the ‘ups and downs’ of 2009 has helped Sodexo to value and constantly develop our human capital – a company’s most vital asset.

Song Tang Yih

Vice President, Asia Pacific, F5 Networks

2009 demonstrated that in times of trouble, the cream will always rise to the top.

It was a definitive year, not because of the economic headwinds but because it allowed the market to distinguish the fundamentally sound, profitable and well-oiled businesses that continued to thrive, from the ones that floundered at the first sign of trouble.

2009 reminded us of the fundamentals of success: proven products and services; sound roadmaps for the future; and solid balance sheets. Look at F5 – we entered the uncertain days of 2009 with less than US$2 billion in market capitalistion. We are now ending the year as a US$4 billion company.

These lessons are not only true for companies, but for individuals too. Those managers and staff who have emerged as real winners are the ones who consciously chose to see opportunity in turmoil and strife. They have demonstrated agility by finding ways to evolve and reinvent themselves. And most importantly, they stayed relevant when the business landscape changed.