Appointing the right people
Selecting the right people to manage our economy
August 2, 2009
SINGAPORE – The appointment and selection
process identifying leaders who will be in a position to influence
our economy is among the most eagerly followed, especially by
analysts, journalists and others interested in following the
fortunes of Singapore’s economy. Such hotseats include positions
helming the Monetary Authority of Singapore (MAS), Ministry of
Finance, Ministry of Trade and Industry, statutory boards such as
the Economic Development Board, and quasi-government organizations
such as Temasek Holdings.
Ideally, the person occupying the hotseat should have years of
experience under his belt in dealing with financial and
economic-related matters, before he can make such important
decisions at the national level. An experienced leader in his field
is always desired, but the selection process electing leaders to
such positions leaves more questions than answers. Readers may
recall that our current Prime Minister Lee Hsien Loong first
entered Parliament in 1984, and this was right after he left the
Singapore Armed Forces. In fact, a check on Lee’s biodata will
reveal that he was the former Chief of Staff of the General Staff
and Director of the Joint Operations and Plans Directorate when he
was at Ministry of Defense up till 1984. During his virgin term in
Parliament, Lee was catapulted into the role as Minister of State
for Ministry for Trade and Industry (MTI), effectively enjoying a
meteoric rise in his new career as a lawmaker.
Perhaps, no questions may be asked if a seasoned industrialist
takes up the hotseat at MTI, but Lee was propelled straight into
the hotseat immediately after his SAF days. Shouldn’t experience
take precedence over qualifications when deciding on leaders who
will take up the hotseats?
There is another similar example from the SAF, this time
involving our former of Chief of Defense, Ng Yat Chung. Ng served
in SAF for 28 years, and he was the Chief of Army before becoming
the Chief of Defense. Ng left SAF and subsequently became the
Managing Director of Corporate Development and, Portfolio
Management and Systems at Temasek Holdings. Jumping into Portfolio
Management straight from commandeering an entire armed forces seems
like a huge leap! And it will not be surprising if observers
expressed doubts over such an appointment.
A proven leader with a track record in his field inspires
confidence in his ability to deliver. This is usually the case when
deciding who to appoint in leadership positions at the middle and
highest level. It is common sense for any Human Resource
administrator to screen the resume of a potential candidate for any
relevant experience. Did relevant
experience matter to those who screened potential leaders
who will go on to take up the hotseat in our economy?