Ms sect c 20170618 sunday

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SUNDAY, JUNE 18, 2017

Business

Ray S. Eñano, Editor / Roderick dela Cruz, Issue Editor business@manilastandard.net

YOUNG CENTRAL BANKERS SING, DANCE AND HAVE FUN By Siegfrid Alegado

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RISTEL Cabuling isn’t your typical central bank auditor. She climbs mountains, sings for a choir and studies poledancing in her off hours. “My friends wonder where I get time to do a lot of other things,” Cabuling, 29, Philippine central bank compliance specialist said while taking a break during choir practice. “Some of them, those working in other companies, even sleep in the office just to meet deadlines.” The Philippines is home to one of the world’s youngest populations and labor forces and that presents special challenges to Bangko Sentral ng Pilipinas, the nation’s central bank. Some 44 percent of its staff belong to the Millennial generation, broadly defined as age 37 or lower. I t ’s a generation that seeks a better work-life balance and is perfectly willing to jump ship to global and local commercial banks also vying for talent. “ We need to adapt to changing attitudes of a younger generation,” Deputy Governor Cyd Amador said in an interview. “It’s a generation not just fixated on monetary benefits but is also concerned about their wellness, hobbies, skills development and personal growth.” The Philippine’s youthful population—almost half the workforce is below 34, the statistics authority estimates—is a huge economic advantage. The demographic dividend from a rising supply of young workers and their spending power is one reason why companies such as Unilever NV and Toyota Motor Corp. are expanding in the Philippines, helping drive an economic boom this decade. That’s in contrast to countries like Japan and South Korea where the workforce is declining. Manila’s working-age population, at about 8.5 million, will increase by as much as 2.5 million by 2030 –equivalent to Rome’s total workers today, according to McKinsey & Co. Consumption by those of working age in the Philippine capital will grow by $74 billion during the period, it estimated in a report last year.

Kiel Cortez fulfills his exercise regiment at the rooftop track of Bangko Sentral ng Pilipinas headquarters in Manila.

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Accenture Philippines managing director JP Palpallatoc

ACCENTURE LAUNCHES MODERN PH STUDIO By Kristin Mae Cortez and Aletha Jasmine Dela Cruz

Kristel Cabuling

The median age at the Philippine central bank has dropped to 38 from 48 in the decade to 2016, and may go lower with the upcoming retirement of Governor Amando Tetangco, 64, in July. His successor Nestor Espenilla is 58. Yet for employers there are trade offs and challenges: recruiting and retaining top talent is more difficult with younger workers who demand benefits and enjoy employment opportunities across the financial industry in Asia. Art club From art and fishing clubs to gym classes, the Philippine central bank is trying new ways to keep workers happy. A decade ago, it started offering free group exercises including yoga, hiphop and zumba while trainers stand ready for one-on-one coaching on weight training. The central bank has a 400 square-meter gym complete with a running track on the roof where employees can be seen after work. Policy makers are also studying flexible hours, work-from-home options and sleeping pods for the staff. It’s also paying competitive salaries to keep their loyalty, said Amador, who’s in charge of human resource management. A new college graduate

working in financial services can earn as much as $5,300 a year, higher than wages in sales and almost as much as what a masters degree holder would earn in human resources, according to advisory firm Willis Towers Watson. Millennials prioritize well-being programs and career development, said Iris Anne Hamada, a senior consultant at management firm Aon Hewitt in Manila. Only one in three Filipino millennials plan to stay with their company for more than five years, according to a 2017 study by Deloitte LLP. Biggest loser Kiel Cortez, 26, was working long hours at the graveyard shift reconciling cash and stock transactions at JPMorgan Chase & Co. for four months before he got tired and quit in 2011. Now a financial market research officer at the central bank’s treasury department, where he studies the lender’s asset allocation and investment policies, he’s using his free time to exercise and lost 26 pounds in the bank’s “Biggest Loser” contest. “I definitely see myself staying here,” he said. “With JP Morgan, I normally miss Friday nights out because I have to work. But here, as long as I finish my job, I can go and do basketball, gym, or go out with friends.” Businesses with fewer turnover among millennials communicate career development plans better, offer customized learning and personal development opportunities and engage workers regularly, according to Aon. About 5 percent of workers in finance leave their company, the second highest ratio among 17 industries, according to the statistics agency. “One important workplace differentiator for millennials is communication,” Aon’s Hamada said. Cabuling, a soprano, is already preparing for her next mountain ascent in the Cordillera range north of Manila in July. The journey to reach the peak at over 2,000 meters (6,562 feet) will take two days and will be one of the toughest she’s done. “Frankly, I don’t know where life will take me, but it’s safe to say that I’m very, very happy where I’m at now,” Cabuling said. Bloomberg

ACCENTURE, a global professional services company, has launched a new liquid studio in Bonifacio Global City, Taguig where clients can experiment with and learn from latest technologies and sof t ware application such as artificial intelligence, robotic process automation, augmented and virtual reality, cloud, Internet of Things and blockchain. The 2,000-square-meter facility aims to help Accenture’s clients reduce development time from months to days by applying rapid development approaches including Agile methodologies and DevOps, and experimenting with disruptive technologies. Accenture technology services group chief executive Bhaskar Ghosh, technology lead in the Philippines Ambe Tierro and managing director JP Palpallatoc led the launching of the liquid studio where clients can discover new concepts, applications and solutions with speed and agility. The Accenture team agrees that the Philippines would greatly benefit from the studio because it is one of the large global delivery centers all over the world, including London, Milan, Paris, Kronberg, Singapore, Sidney and Silicon Valley. “We promise to take ideas from conception to actual prototyping for our clients, so you can actually see it develop very rapidly, which is what innovation should be. Having one [liquid studio] in Manila would be a good way of showcasing Accenture innovations,” said technology lead Tierro, referring to the different architectures found in the studio. “The liquid studio, which is the first to be co-located in an Accenture Delivery Center, helps clients create real-world solutions at speed and at scale through rapid prototyping, testing their viability in real-time. It is a great example of how Accenture leads with innovation to help clients ‘imagine and invent’ the future,” said Tierro. One of the fascinating features in the studio is a room controlled by Google Home. Google Home follows commands such as “turn the lights on,” “play this music,” or “change the channel.” In addition to serving clients, the liquid studio will be used to train and rotate Accenture professionals to new IT, providing them with experience in emerging technologies and ways of working. “ The liquid studio offers a ‘sandbox environment’ for Accenture employees, where they can experience emerging technologies first-hand and adopt an experimental culture. With this, they can build, test and deliver software with speed and agility. Combined with Accenture’s structured mentorships, this becomes an invaluable part of their career and learning journey at Accenture,” said Tierro.

COMPANY PROVIDES VENUE WHERE FILIPINO ARTISTRY THRIVES By Kristin Mae Cortez and Aletha Jasmine Dela Cruz SEVERAL entrepreneurs have benefited from the works of Filipino artists during the three-day Art Mod Fair which showcased different techniques and styles of Filipino culture at Megatrade Hall of SM Megamall in Mandaluyong City. Ar tisteSpace, a company that organized the event, aims to promote a broad collection of art pieces that include photography, painting and drawing. ArtisteSpace also helps small and well-known organizations that focus

Filipino artists Joe Datuin, Migz Salazar, Oz Mendoza and Boysie Villavicencio and ArtisteSpace managing director Anton Magpantay answer questions from guests during the three-Day Art Mod Fair.

on buy-and-sell of artworks. “We give importance not only to wellestablished artists. Of course, we also need them, but at the end of the day, we are also giving opportunities to other artists from the provinces,” says Anton Magpantay, managing director of the marketing company. Among the well-known Filipino artists whose works were put on display at Art Mod Fair are Philipp Badon, Joe Datuin, Migz Salazar, Oz Mendoza and Boysie Villavicencio. Magpantay is particularly excited about Ang Buhay at Hugis sa Paete, a heritage shop where authentic paete

wood carvings are priced according to their design, style and the wood used. Meanwhile, one exhibitor said they used recycled gadgets and toys to catch up with the present innovations. Art also has a different meaning to other artists and business owners like William Borja, who found a way to raise money for his wife who was diagnosed with ALS in 2014. Jam Ramos, a photographer from Artvan and a contributing photographer for Top Gear Philippines, says the exhibition helps the public become aware of the value of art.


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