The APAC CEO of Helpling plans on disrupting the home services sector by tapping into the silver economy

“How They See It” is where we dive into the minds of leaders driving today’s most dynamic companies. In this instalment, we sit down with James Lim, the APAC CEO of Helpling, a company revolutionising the home services industry with tech-driven solutions and a commitment to improving lives. James shares his passionate insights on Helpling’s mission, its transformative impact on Singapore’s home services sector, and why redefining household care has never been more important.

At Helpling, my objective is to reinvent the home services sector in Singapore, and prospectively, across the Asia Pacific. I have spent the past seven years helping to build infrastructure to transform Singapore’s home services sector from a traditional, unskilled and non-digitised space to one that is highly competitive, professionalised and tech-enabled.

The case for developing the industry is evident. Urban lifestyles are taking a toll on everyone, with household chores and family commitments driving up stress levels. This may, in turn, negatively affect fertility rates. Not to mention, Singapore’s ageing population demands more accessible and innovative solutions to meet their growing needs.

By 2030, one in four Singapore residents will be aged 65 and above. This has given rise to a fast-expanding silver economy, writ-large upon Singapore’s ranking as the country with the biggest silver economy potential in terms of the spending capacity of the ageing population — according to industry network Ageing Asia Alliance. In fact, the Asia Pacific’s silver economy market is projected to be worth US$4.6 trillion (S$6.2 trillion) by 2025.

Presumably, this brings a wellspring of opportunities for Singapore. Loneliness and social isolation among the elderly will be a key challenge that we will face as we advance towards a super-aged nation. Thus, besides home services to support their daily activities, there is a massive opportunity in companionship care for the elderly. With that in mind, Helpling is building an all-in-one, on-demand support system covering both the functional and emotional needs of our greying population.

However, the Lion City does face limitations in tapping its silver economy. For one, talent attraction and retention remain an issue. The fragmented private-sector makes it hard for talent to thrive, thereby making it even more difficult for capabilities to be built. More synergy between key players in the market will result in the pooling of resources to drive innovation and ultimately, a better ageing experience. 

Solving the manpower crunch

In Singapore, lower-skilled migrant workers can provide support in areas that locals typically shun, either due to social constructs or pay.

To solve this manpower gap, Helpling Singapore largely recruits migrant workers from Myanmar’s war-torn regions, including Rakhine, Chin and Kachin. These individuals undergo basic housekeeping training in Yangon, before being hired by our franchise partners under the Household Services Scheme (HSS). This is followed by advanced housekeeping training once they’re in Singapore.

We ensure a minimum wage for all full-time housekeepers and caregivers employed by our franchise, as well as place a limit on employment agents’ fees. This way, employees don’t have to pay off exorbitant debts, which ultimately fosters more equitable working conditions for our migrant worker community. 

People matter in the service industry — tech serves to make our lives easier, but what really drives the business forward is the people behind it. Therefore, we need to empower our service providers for growth.

In the same vein, we also extend upskilling opportunities such as digital literacy and communication skills training to our service providers. By improving these blue-collar workers’ job prospects, working conditions and overall livelihoods, we can ultimately plug manpower gaps and propel Singapore’s on-demand services industry — and by extension, its silver economy.

Stay agile to succeed

I’ve always liked to solve problems, which explains my penchant for Mathematics growing up, as well as my focus on business as I entered college. I completed a short internship at the in-house management consulting arm of a global MNC, but realised it isn’t for me. Beyond presenting my solutions on a Powerpoint deck, I wanted to bring them to fruition and witness their impact. 

I eventually found my ikigai (sense of purpose) in the start-up space, where I could not only solve really interesting problems, but also bring my solutions to life. The accompanying stress and pace do overwhelm me at times, but I always bounce back as I am doing something that I enjoy.

Play

My time with Helpling has been nothing short of transformative. One of the hardest lessons I’ve learnt is that businesses can outgrow their talents. In this scenario, I was late to act on relevant issues, thinking that I was being compassionate by holding back on restructuring the business. Team productivity started to deteriorate due to poor leadership, meetings were fraught with indecision and business results started to stagnate. We were losing the pragmatism that helped us to survive and thrive. I learnt that it is important to have regular, honest discussions with employees to help everyone stay aligned on our goals.  

Conversely, there have been high points, such as seeing our frontliners thrive. We had a housekeeper who lost her closest family members to the civil war in Myanmar. She joined us with the intention to rebuild her life in Singapore and earn enough money to support her mother, who is her remaining kin. 

Two years on and equipped with new skills, she has not only found employment in the hospitality industry, but also bought a new house in Yangon for her mother — away from her war-torn hometown. Stories like these keep me motivated to push harder to improve our platform. I’ve come to appreciate that business is not just about profit, and that my problem-solving skills can be applied to improve people’s lives.