Singapore hosted the first-of-its kind human capital summit to discuss the latest trends, leading ideas and practices in effective people strategies for Asia.

Over 700 delegates comprising 34.8% C-suite executives attended the inaugural Singapore Human Capital Summit 2008 held at Shangri-La Hotel.

With more than 60 global and regional business leaders converging on this key platform, intense conversations are expected to take place over hot-button people and leadership issues affecting businesses operating in Asia, including leadership development, talent management, human capital in public sector and workforce trends and strategic responses.

Mr Leo Yip, Permanent Secretary of the Ministry of Manpower (MOM), said: "Human capital issues are pivotal to sustaining Asian growth and competitiveness at both country and company level. It is therefore quite critical to build up thought and practice leadership in human capital management that is Asian in focus.

"The Singapore Human Capital Summit seeks to provide a platform for strategic discussion of Asian thinking and practices in response to Asia's human capital challenges. One of the key issues for discussion will be how people challenges in Asia are being addressed in an increasingly challenging economic climate."

Renowned global and regional CEOs and human capital thought leaders include Peter Sands, Group Chief Executive of Standard Chartered PLC; Michele Burns, Chairman and CEO of Mercer; Yasuchika Hasegawa, President of Takeda Pharmaceutical; and Professor Peter Cappelli, George W. Taylor Professor of Management, Director, Center for Human Resources, Wharton School, University of Pennsylvania.

On the importance of human capital to companies today, Ms Michele Burns, Chairman and CEO, Mercer, who is the first keynote speaker at the Summit, said: "If you talk to CEOs around the world, they will tell you that human capital management is the single thing they most worry about. Asia has been the beneficiary, as has the rest of the world, of technology-fuelled productivity improvement.

"We are entering an era where the differentiator is human capital management. But people are not machines, so the soft side of engagement is incredibly important. Many factors go into achieving the status of "preferred employer" and include training, career path design, and effective benefits and compensation systems."

Mr Tan Pheng Hock, Chairman of the Singapore Workforce Development Agency (WDA), said: "This may well be an opportune time for organisations to reshape themselves, to reposition and even consolidate in the market place. It is during times like these that organisations need leaders and talents to identify and seize opportunities, like forging new customer relationships, strengthen market position and gain market share. You need proactive HR strategies and policies to help you ride the ups and downs effectively."