Q: What would be the optimal number of Key Performance Indicators (KPIs) at Corporate and Departmental level?
A: The optimal number of Corporate Key Performance Indicators (KPIs) is around 20-25 whereas the Departmental KPIs should be no more than 15.
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 Performance Management Seminar |
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SuccessFactors BizX Hong Kong Edition
HMI Consulting + SuccessFactors
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It’s all about alignment of your company’s goals and your employees’ performance. It’s never been easier to focus your people on what matters, measure your progress along the way and keep everyone engaged and accountable. Now HMI Consulting collaborates with SuccessFactors to develop the SuccessFactors BizX Hong Kong Edition, making it easier than ever to align your company’s goals and your employees’ performance. In this seminar we’ll introduce you to the HASSLE FREE Performance Management Solution, and how your company can quickly benefit from it.
Seminar Content
Part 1: A Performance Management System Designed for Hong Kong Companies
Speaker: Mr. Victor Tsang, Partner, HMI Consulting Limited
Part 2: Talent Management based on the PMS foundation
Speaker: Mr. Ian Lee, Regional Sales Director, SuccessFactors Inc.
Date: 12 April 2013 (2:30pm to 5:00pm)
Venue: 35/F, Central Plaza, 18 Harbour Road, Wanchai, Hong Kong Medium: Cantonese with English materials Fee: Free
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. Upcoming Workshops
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Workshop on Strategic Compensation System Design
To remain competitive in nowadays business environment requires not only good planning, execution and control but also committed people working in alignment with company’s goals. A meaningful system that helps manage performance and motivate staff to go “extra mile” is essential for organization success. This workshop will equip participants with knowledge and field-proven techniques through a step-by-step approach for designing a compensation system that helps align staff performance with the corporate business strategies and also advocate the "pay-for-extra” culture.
Workshop Outline::
• Definition of Compensation
• Different Compensation Package in the Market
• How Economic Trend Influences Compensation Strategy & Practices
• Aligning Compensation Strategy with Business Directives & Corporate Values
• Influencing Forces to Compensation Strategy
• Developing Your Compensation Strategy
• Introduction to Strategic Compensation Management
• Writing Effective Job Descriptions for Various Positions
• Conducting Job Evaluation Step-by-step
• Developing Grade & Salary Structure
• Analyzing Market Pay Trend Data
• Designing Long-term & Short-term Incentive Schemes
• Linking the Incentive Scheme with Performance Measurement Results
Date: 11 April 2013 (9:30am to 5:00pm)
Venue: 4/F Opulent Building, 402-6 Hennessy Road, Wanchai, Hong Kong Medium: Cantonese with English materialsFee: 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.
Workshop on KPI Setting for Various Industries and Positions
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To remain competitive in nowadays fast-moving business environment, organizations require not only right strategies but also good execution. An effective performance management tool can help organizations communicate corporate policies, clarify responsibilities of departments and transform strategic directives into Key Performance Indicators (KPIs) in different perspectives. Through the deployment process, business strategies can be transformed into actionable tasks which enable systematic assessment on corporate and departmental performance and the alignment with corporate directives.
Workshop Outline:
Module 1: Introduction to Performance Management
• Financial vs. Non-financial Measures
• The Four Performance Perspectives of Measurement and Their Causal Relationship
• Format and Components of Performance Management Setting
• Correlations among Annual Objectives, KPIs, Quantifiable Targets and Action Plan
• Integration of Performance Management System with Other Management Tools
Module 2: KPI Setting Step-by-Step• Good vs. Bad KPIs • Result-oriented vs. Activity-based KPIs • Balancing Your KPI Settings • KPI Examples for Corporate in Different Industries • Adopting KPI Setting as a Strategic Management Tool • The Vertical and Horizontal Alignment of Corporate and Departmental KPIs • Rules of Setting Quantifiable Targets • Common Errors in Objective & KPI Setting • The Reporting Format of Corporate & Divisional Performance • Case Sharing of Performance Management System Implementation Module 3: Simulation ExercisesSimulation Exercises on KPI Development (Participants will have a chance to simulate the process of developing departmental objectives & KPIs under trainer’s facilitation)
Date: 18 April 2013 (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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| March 2013 HR Highlights |
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Economic Highlights
Many inland provinces are successfully attracting migrants from coastal manufacturing hubs, raising fears of a more serious labour shortage in coming years. Chongqing is expected to see 300,000 migrant workers return to work this year, according to municipal authorities. About 410,000 labourers returned to the city in the first 11 months in 2012, according to the Chongqing's Human Resources and Social Security Bureau. Of those returnees, 368,000 were employed and 43,000 started their own businesses. In addition to the shrinking wage differences between Chongqing and coastal provinces that lure locals back, the government is making efforts to attract and retain workers. The city provides skills training for workers and offers them low-rent housing around 10 yuan per square metre a month.
Labour shortfall is expected to reach between 1 mill! ion and 1.2 million as a large number of migrant workers have returned home for family reunions, according to Guangdong Human Resources and Social Security Department. The province normally has a shortage of about 400,000 workers. More than 10 million migrant workers, or 61% of the total in Guangdong, will leave the province to return home for the Lunar New Year. 90% of those workers have expressed a wish to return after the festival. Guangdong companies' labour demands have increased by 15.2% compared with the end of 2011. [Source: China Daily (p.4), 1 Feb 2013]
The National Bureau of Statistics and the China Federation of Logistics and Purchasing announced latest Purchasing Managers' Index (PMI) as follows:
- for manufacturing activities, PMI fell to 50.4 in Jan from 50.6 in Dec 2012, dragged by shrinking export orders
- for non-manufacturing activities, PMI climbed to 56.2 in Jan from 56.1 in Dec 2012. The retail industry developed at the fastest rate among the 19 consumer service industries, with a PMI reading that rose to 71.1, up from 66.6.
Meanwhile, HSBC Holdings Plc released its PMI for the manufacturing sector, which showed a rise to 52.3 in Jan from 51.5 in Dec 2012. Some market experts suggested the marked difference between the official and the bank’s indexes could be linked to the o! fficial Jan PMI being the first time the bureau had expanded its survey sample size to 3,000 enterprises across 31 industries, from the previous 820, across 21 sectors. Besides, the official one focuses more on large enterprises while HSBC’s covers more small- and medium-sized enterprises. [Source: China Daily (p.9,) 2 Feb 2013, China Daily (p.2), 4 Feb 2013/ HKET (A6), 2 – 3 Feb 2013, & HKET (A3), 4 Feb 2013/ SCMP (B1), 2 Feb 2013 & SCMP (B3), 4 Feb 2013]
The Guangdong Provincial Human Resources and Social Security Department announced that the minimum wage levels of both full-time and part-time workers in the province will be adjusted upward at an average of 19.1% starting from 1 May 2013.
The President of the HK Chinese Importers’ and Exporters’ Association said many HK manufacturers operating in the Pearl River Delta may speed up relocating their factories elsewhere as the minimum wage in Guangdong is expected to nearly double the province’s gross domestic product growth this year. A number of cities and provinces, including Beijing, Shanghai, Zhejiang and Shanxi, plan to raise minimum wages by 11% to 17% this year. Shenzhen’s minimum wage is expected to rise the most, averaging 20% annually in the next three years. The local government has said the minimum salary must reach 2,650 yuan by 2015, up 76% from last year. [Source: HKET (A14)/ SCMP (B3), 6 Feb 2013]
The motion of adjusting statutory minimum wage of $28 to $30 has been passed in the Legislative Council meeting. Tommy Cheung Yu Yan, legislator representing the catering sector, opposed the motion, claiming that the sector saw revenues drop recently while raising the minimum wage may cause a wave of restaurant closures. Several legislators from the labour unions rebutted that the major challenge of the sector was soaring rent rather than minimum wage. Emphasising that the minimum wage level remained at a relatively low level, they urged the government to review the minimum wage once a year. The Secretary for Labour and Welfare said reviewing every two years offered greater flexibility and the Minimum Wage Ordinance clearly stated that the review could be done more than one time within every two years. [Source: Apple Daily (A16), 7 Feb 2013]
The Census and Statistics Department released the latest labour force statistics. The major figures are as follows:
unemployment rate increased from 3.3% in Oct - Dec 2012 to 3.4% in Nov 2012 - Jan 2013, the number of unemployed persons increased from 117,000 in Oct - Dec 2012 to 120,500 in Nov 2012 - Jan 2013, total employment increased to 3,706,000 persons, the number of employees and households who earned $100,000 or above per month decreased by 3.4% and 6.4% respectively. [Source: HKET (A28), 22 Feb 2013]
HK’s consumer price index rose 3% in Jan from a year earlier, a drop from 3.7% in Dec 2012, according to the data released by the Census and Statistics Department. The underlying inflation rate in Jan 2013 was 3.1%. A government spokesman said the inflationary pressures are still likely to be largely contained in the near term, given the moderated increase in import prices and the modest local economic growth. However, the volatility of international food and commodity prices amid the global liquidity glut, coupled with the rise in local housing rentals over the past year, may pose some upside risks to inflation. [Source: HKEJ (A4), 23 & 24 Feb 2013]
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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