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Maximizing human capital in Asia: from the inside out PDF

213 Pages·2009·1.653 MB·English
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Maximizing Human Capital in Asia From the Inside Out Maximizing Human Capital in Asia From the Inside Out Elizabeth Martin–Chua JohnWiley& Sons (Asia)Pte. Ltd. Copyright©2009JohnWiley&Sons(Asia)Pte.Ltd. Publishedin2009byJohnWiley&Sons(Asia)Pte.Ltd. 2ClementiLoop,#02-01,Singapore129809 Allrightsreserved. Nopartofthispublicationmaybereproduced,storedinaretrievalsystemor transmittedinanyformorbyanymeans,electronic,mechanical,photocopying, recording,scanningorotherwise,exceptasexpresslypermittedbylaw,without eitherthepriorwrittenpermissionofthePublisher,orauthorizationthrough paymentoftheappropriatephotocopyfeetotheCopyrightClearanceCenter. RequestsforpermissionshouldbeaddressedtothePublisher,JohnWiley&Sons (Asia)Pte.Ltd.,2ClementiLoop,#02-01,Singapore129809,tel:65-64632400,fax: 65-64634605,e-mail:[email protected] Thispublicationisdesignedtoprovideaccurateandauthoritativeinformationin regardtothesubjectmattercovered.Itissoldwiththeunderstandingthatthe publisherisnotengagedinrenderingprofessionalservices.Ifprofessionaladvice orotherexpertassistanceisrequired,theservicesofacompetentprofessional personshouldbesought. OtherWileyEditorialOffices JohnWiley&Sons,111RiverStreet,Hoboken,NJ07030,USA JohnWiley&Sons,TheAtrium,SouthernGate,Chichester,WestSussex,P019 8SQ,UK JohnWiley&Sons(Canada)Ltd.,5353DundasStreetWest,Suite400,Toronto, Ontario,M9B6HB,Canada JohnWiley&SonsAustraliaLtd.,42McDougallStreet,Milton,Queensland4064, Australia Wiley-VCH,Boschstrasse12,D-69469Weinheim,Germany LibraryofCongressCataloging-in-PublicationData: ISBN 978-0-470-82479-5 Typesetin11/14ptPalatinobyLaserwordsPrivateLimited,Chennai,India. PrintedinSingaporebySaikWahPressPteLtd. 10987654321 Contents Acknowledgments ix Introduction: LessonsLearned:From Personnel Management to Talent War 1 Chapter1: What is HR? 7 HR EvolutioninAsia 7 CustomerInsight of AsianEmployees 9 The EVP:A ModelTestedinChina 12 Buildinga Good EVP inAsia 14 What isHR? Frequently Asked Questions 16 Chapter2: Personal Growth and Business Growth 19 Organic Growth 20 Inorganic Growth:Mergersand Acquisitions 20 Keysto M&A SuccessinAsia 26 LinksamongLeadership,HR Processes, and BusinessGrowth 27 PersonalGrowthand BusinessGrowth: Frequently AskedQuestions 28 Chapter3: Leadership 31 Good Leadership 31 Why isLeadershipHighinthe EVP? 34 Why isEngagement Important? 35 v vi Contents D&I 38 IsInclusive LeadershipBecomingMore Important? 46 What MakesGoodLeadersinAsia? 48 How are LeadersAcquired? 51 360-Degree Feedback 52 Successionof Leaders 57 AsianLeadershipCompetencies 60 Leadership:Frequently AskedQuestions 63 Chapter4: Company Culture 67 What isCompany Culture? 67 Customers’ Experience and Employees’ Experience 73 TurningEmployees’ Experience into a Good EmployerBrand inAsia 75 Measuringthe Successof a Company’s Culture 78 Company Culture:Frequently Asked Questions 79 Chapter5: Acquisition 85 Staffing 86 Strategic Acquisition(Recruitment) 96 A Checklist fora StrongAcquisition FunctioninAsia 97 Acquisition:Frequently AskedQuestions 98 Chapter6: Development 101 Importance of Development 101 How Do CompaniesinAsia Do Development? 103 Management and Talent Development Review 110 Coaching 112 Why isCoachingImportant? 113 Mentoring 116 Contents vii Key Elementsina Development FunctioninAsia 118 Development:Frequently AskedQuestions 119 Chapter7: Performance Management 121 The Role of Performance Management 121 IsForced RankingNecessary? 123 Target Setting 125 Improvinga Performance Management System 126 Key Elementsina Performance Management SysteminAsia 127 Performance Management: Frequently Asked Questions 129 Chapter8: Rewards Management 131 The Importance of Rewards Management inAsia 131 Performance Rewards:Pay for Performance 134 Dosand Don’tsinRewards Management inAsia 135 RewardsManagement:Frequently Asked Questions 136 Chapter9: How is HR Organized in Asia? 139 HR Roles 139 BusinessHR 141 FunctionalExperts 143 Administrative Experts,Shared Services Centers 153 Outsourcing 160 Pitfallsto Avoid inOrganizingHR Rolesin Asia 162 How isHR Organized inAsia? Frequently Asked Questions 163 viii Contents Chapter10: Summary: How to Succeed in Asia 165 GlobalFramework,LocalContent (GlobalforLocalApproach) 165 LocalforLocalApproach 167 LocalforGlobalApproach 169 ConcentratingonStrengths 171 LaborLegislationand Good Industrial Relations 176 Attractive Rewardsand Incentives 178 Speed and Freedomto Act 178 D&I 179 How to Succeed inAsia? Frequently Asked Questions 181 Chapter11: The Future of HR in Asia 187 Changing Roles 187 The Future of HR inAsia:Frequently Asked Questions 194 Conclusion Food for Thought 197 Company Valuesand Culture 198 Distributionof Wealth 200 Job Descriptionsand RewardsPackages 201 Protectionism 202 D&I 202 Bibliography 205 Index 209 Acknowledgments T o my former employer, Royal Philips Electronics, I owe my immense gratitude for the freedom and support to realize my full potential.TothePresidentofPhilips,GerardKleisterlee,theoppor- tunity of seeing his wisdom at work toward talent management and support of growth in Asia. To my bosses, Hayko Kroese, DavidChang,andPatrickKung,Ithankthemforthepatienceand frequentexchangesofthoughtsandideas.Fromtheirleadership, I have learned a great deal and I could not have succeeded without theirtrustinme. My thanks also go to my HR colleagues in Philips Asia, in particularFrankOng,DavidZhang,GohChorLim,LindaMCLee, Jane Chen, Vera Liu, Amy Chong, Yeo Lay Lay, and Crystal Lim. Without all of them, it would not have been so enjoyable putting the events and consequences on record. To Mourad Mankarios, Low Peck Kem, Sally Tan, Ong Yen Her, and many more, for their friendship and the sharing of many trials and tribulations, and for contributing material for this book. Last but not least, my husband, Roderick, and his assistant, Catherine; my son, Darryl, and daughter, Victoria, for their unwavering support and belief inme. Above all, I owe the strength and inspiration for writing this book to our Lord Jesus Christ. Without His blessings, I would not havebeenabletoseethisbookthrough. ix Maximizing Human Capital in Asia from the Inside Out By Elizabeth Martin–Chua Copyright © 2009 JohnWiley & Sons (Asia) Pte. Ltd. I N T R O D U C T I O N Lessons Learned: From Personnel Management to Talent War I t was 1970 and the graduation ceremony at the University of Singaporewasunderway. I was finally graduating from the university with an honors degree in economics and was joining the workforce. I could not suppress my excitement and was busy with thoughts about the career I was about to embark on. Going into the real world and becomingfinanciallyindependentwassomethingIhadbeenlong- ingfor.Anxiously,IwaitedformynametobecalledsothatIcould proceedtothestagetoreceivemyscroll,asymbolofmyacademic achievement and the mark of having completed my tertiary edu- cation. This was a fulfillment of not only my dreams but also my parents’. The keynote speaker, the Dutch chief economic advisor to the SingaporeGovernment,Dr.AlbertWinsemius,wasintroduced.He wastodelivertheevent’smainaddress.Forthenexthalfhour,Iwas spellbound. He spoke about the economic dreams of Singapore, and how education was contributing to turn these dreams into reality.Heurged ustostep into theworld withconfidence,and to make our contribution to a society that had made our education possible. He reminded us that the education we had received was aprivilegeandwasnottobetakenforgranted.Thisurgingstruck achordinme. 1 2 MaximizingHumanCapitalinAsia I was touched. On that occasion, I learned my first lesson. The lessonwasthattheeducationIhadreceivedwasindeedaprivilege andgoingtoworkwasalsoaprivilege.Byvirtueofmyeducation, I would not be starting my career at the bottom rung: I would be appointed to a supervisory position, and I had a fair chance of enjoyingmyself. A couple of months later, I joined the Economic Development Board of Singapore, a statutory board. I was promptly sent to the Training Division of the National Productivity Center in the new JurongIndustrialEstateasanassistantindustrialrelationsofficer. My responsibilities were to train newly recruited workers employed by companies to adapt to life in the factory. I had to educate them on the role of industrialization, the organization of a typical factory, employee relations, rules and regulations, health and safety, and so on. This was my first encounter with factory employees, and the experience I had with them was enriching. It preparedmewellforthepersonnelmanagementjobthatItookup ayearlater. The first challenge of the job at the Training Division was getting the workers to understand the role they played in the industrialization process. Many oftheworkers possessed acouple of years of secondary education. Consequently, their interest tended to gravitate toward compensation matters such as pay, benefits, working hours, shift patterns, and transport. Also, theywere anxious to learn about the impending relationships that they would have to build with their supervisors and co-workers. They sought my advice on proper workplace behavior, behavior that would allow them to facilitate relationships with their co-workersandsuperiors.Incontrast,atthispoint,theirinterestin theircareerprogressionwasscant. In this Training Division, I learned another important lesson. Besides pay, the relationship with bosses was the main concern of allnewemployees.Allotherconcernsweresecondary. Another of my responsibilities at the division was to mediate between employer and employees whenever there was a conflict thatcouldnotberesolvedwithintheJurongIndustrialEstate.This responsibility gave me my first taste in industrial relations. From

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Most books are stored in the elastic cloud where traffic is expensive. For this reason, we have a limit on daily download.