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Q: What causes staff turnover and how to manage it?
A: Staff turnover can be a result of staff dissatisfaction in one or more than one aspects such as salary, reward & recognition, work environment, corporate policy & culture, career development, etc. Organizations may consider conducting an opinion survey to find out staff satisfaction on different hygiene factors and thereafter initiate corresponding actions (e.g. salary adjustment, development of a career ladder, etc.) to enhance staff morale.
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 "Performance Management Means Business Performance" Seminar |
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SAP SuccessFactors - 8 August, 2012
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We are proud to announce that HMI Consulting Limited was invited by SAP SuccessFactors to speak at the event “Performance Management Means Business Performance Serminar” on 8 August 2012 .
In terms of investment, people are most companies’ single biggest asset. Understanding how well they are performing can make sure employees have the right skills in the right place to achieve company’s business objectives. This seminar aimed to answer questions such as: Do you have the insights to drive better decision-making and business outcomes around performance and shortage of skill? Do you have the right competency checks, cultural adaption and on-boarding procedures in place to accelerate time to productivity? Do you have the right tools to set and measure performance whilst ensuring alignment to your organization’s strategy and deploying the right objectives to the right individual?
Mr. Victor Tsang, Partner of HMI Consulting Limited, shared with HR practitioners on how to enhance the talent management practices of a company to sustain a high performance workforce. He used many cases and examples to illustrate the trendiest talent management practices, and provided tips and advices on what companies should do in different stages of talent management maturity.
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Upcoming Event
HMII Workshop on Strategic Finance Management for Managers
All too often, a manager's performance is measured by how effectively they oversee departmental budgets. To succeed as a non-financial manager, knowledge of basic financial principles and the budgeting process is critical. This course transforms financial and accounting concepts into decision-making tools you can use successfully every day. You will learn to apply the fundamentals of finance to improve budget management, increase potential profits, and assess the financial viability of projects.
Workshop Outline:
• The key building blocks of financial control
• Cost and management accounting
• Understanding and interpretation of financial statements
• Company analysis via analytical tools and ratios
• Introduction to internal control
• Evaluating the worth of a project
• Managing a profit center or cost center
• Absorption, marginal and activity-based costing
• The unique features of project costing
• Estimating project duration and future cost
• Anticipating problems using cost control
• Making estimates based on incomplete information
• Choosing projects that optimize profit
• Return on Investment (ROI) and Payback Period
• Discounted cash flow (DCF), Present Value (PV)
Date: 12 September 2012 (9:30am to 5:00pm)
Venue: 14/F, Fairmont House, 8 Cotton Tree Drive, Central, Hong Kong
Medium: Cantonese with English materials
Fee: HK$ 1,300
To register for this workshop, please click HERE.
To learn more on how HMI Consulting can help your company's management team to enhance corporate and departmental performance, please call (852) 3627 3673 or email to marketing@hmi.hk.
HMI Workshop on High Impact English Email and Report Writing
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Replying emails and creating reports are daily tasks of many Hong Kong employees. It is therefore essential to master the skills of English email and report writing so that we, working in the international hub Hong Kong, can communicate effectively and efficiently with customers, vendors and colleagues (and etc) oversea. Using the right formats, styles, tones, even subject lines are significant factors of effective written communication, while making the emails and reports simple yet high impact is the key to catch audiences’ attentions. This workshop aims to equip participants with useful English writing skills by experience sharing and discussions. Effective and ineffective email and report samples will be shared, and interactive exercises will be conducted.
Workshop Outline:
Emailing:
• Characteristics of emails
• Common mistakes in email writing
• Writing to international audiences
• Choosing the formality and the right words
• Creating catchy subject lines for emails
• Rules of sending attachments
• Handling emails from customers
Report Writing:
• How to meet audience’s expectation?
• Types of reports
• Composing styles and tones for your audience
• Using effective visuals for illustrating reports
• Creating catchy subject lines for reports
• Persuading audience to read through your reports
• Using checklist when composing reports
Date: 26 September 2012 (9:30am to 5:00pm)
Venue: 4/F Opulent Building, 402-6 Hennessy Road, Wanchai, Hong Kong
Medium: Cantonese with English materials
Fee: HK$ 1,300
To register for this workshop, please click HERE.
To learn more on how HMI Consulting can help your company's management team to enhance corporate and departmental performance, please call (852) 3627 3673 or email to marketing@hmi.hk.
Training and Development Advisory
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It's time to plan for Training and Development now!
HMI helps clients to structure training needs analysis to identify the gaps between business needs and employees’ current competency proficiency / performance levels, and advises client to adopt tailored training activities that are aligned with the organization's development direction. A thorough training needs analysis can give the management a clear picture of what skills/competencies that are currently missing so that the management can plan for better employee performance and prepare the organization to respond to future changes.
HMI also offers unique yet practical management training workshops that enhance the management skills of managers, as well as broaden their views in modern corporate management.
For more information about the how HMI can assist your company in Training and Development, please call Mr. Victor Tsang at (852) 3627 3673 or email to victortsang@hmi.hk.
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| September 2012 HR Highlights |
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Economic Overview
According to the purchasing managers' index (PMI) released by the National Bureau of Statistics and the China Federation of Logistics and Purchasing, the major readings are as follows:
• PMI fell from 50.2 in Jun to 50.1 in Jul, driven by declines in new orders, production and employment.
• The PMI's sub-index of employment fell from 49.7 in Jun to 49.5, its third monthly drop in a row and second month of contraction.
• The production sub-index softened from 52 in Jun to 51.8 in Jul, while new export orders fell from 47.5 to 46.6. [Source: HKEJ (A12)/SCMP (B3)/HKET (A2)/China Daily (p.1), 2 Aug 2012]
The China Federation of Logistics and Purchasing and the National Bureau of Statistics released the official non-manufacturing PMI. It shows China's non-manufacturing activities expanded at a slower pace in Jul due to weakening domestic demand. Some major figures are as follows:
- non-manufacturing PMI declined to 55.6 in Jul from Jun's 56.7
- component indices showed new business orders dropped half a percentage point from a month earlier to 53.2 in Jul, a reflection of slower growth in demand for services. [Source: Shanghai Daily (online, 4 Aug 2012]
Meanwhile, the provisional estimate of the HK population has been set at 7,136,300 at mid-2012, an increase of 64,700 or 0.9% from 7,071,600 in mid-2011, according to the Census and Statistics Department. The provisional estimate is set by subtracting the number of deaths, 43,100 from the number of births of 93,200. The natural increase in population from mid-2011 to mid-2012 amounted to 50,100. Over the same period, there was a net movement, i.e. inflow less outflow, of 14,600 residents. The statistics also shows 6,935,500 (provisional) of the total population at mid-2012 were usual residents, which is the highest in ten years. [Source: China Daily (H1)/Ming Pao (A13), 14 Aug 2012]
The Census and Statistics Department released the latest employment figures from May to Jul. The key figures are as follows:
• Unemployment rate stood at 3.2%, same as that in Apr to Jun.
• The number of unemployed persons (not seasonally adjusted) rose by around 3,000 from 125,500 in Apr to Jun to 128,500 in May to Jul.
• Underemployment rate increased from 1.4% in Apr to Jun to 1.5% in May to Jul.
• Increases in the unemployment rate (not seasonally adjusted) were mainly observed in the social work activities and real estate sectors, while decreases were more apparent in the accommodation services, and repair, laundry, domestic and other personal service activities sectors.
• Total employment rose by around 4,300 from 3,671,400 in Apr to Jun to 3,675,700 in May to Jul.
• FIn terms of ranking, unemployment rate for managers/administrative staff rose by 25% year-on-year. [Source: HKET (A4)/China Daily (H2)/HKEJ (A8)/Shanghai Daily (online), 17 Aug 2012]
According to the latest figures on retail sales from the Census and Statistics Department, the value of total retail sales in Jul, provisionally estimated at $36.5 billion, increased by 3.8% over a year earlier, the lowest since Sep 2009. The fall in retail figures was mainly caused by shrinking local consumption. The HK Retail Management Association said it would change its annual growth forecast to between 10% and 13% instead of 12% to 15% earlier this year.
[Source: SCMP (B1)/HKEJ (A10)/HKET (A40)/Ming Pao Daily (B1), 31 Aug 2012]
Disclaimer: Should there be any different views in the interpretation, please always refer to the original media source as reference. HMI Consulting accepts no liability in respect of the accuracy and truthfulness of the materials included in this Economic Highlights.
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| About HMI Consulting Limited |
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HMI Consulting is a leading HR consulting firm specializing in Performance Management, Compensation & Benefits Design, Talent Development & Business Process Improvement. With the primary focus in Hong Kong, PRC and Taiwan, our experienced consultants have worked across a wide range of industries covering Manufacturing & Industrial, Trading, Transportation & Logistics, Financial & Insurance.
Partners:
Contact:
HMI Consulting Limited
20/F, Central Tower, 28 Queen's Road, Central, Hong Kong
Tel: (852) 3627 3673
Fax: (852) 3629 1056
Email: info@hmi.hk
http://www.hmi.hk
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