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Q: How should we appraise staff performance?
A: Normally Performance Appraisal includes two parts: quantitative vs. qualitative assessment. Quantitative assessment refers to the measurement of goal achievement whereas qualitative assessment refers to the measurement of staff competence (e.g. Communication skills, Creativity, Business Acumen, Teamwork, etc.
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| HMI Consulting Limited - HMI Marketing Event |
 1-day Training Workshop on Change Awareness & Management
We are proud to announce that HMI Consulting has successfully launched a 1-day Training Workshop on Change Awareness & Management for a Garment Manufacturer in September 2018. The program is delivered in an highly interactive way which aims to share with participants ways of managing changes in a positive and rational manner.
1-day Training Workshop on Competency-based Interviewing Skills
We are proud to announce that HMI Consulting has successfully launched a 1-day Training Workshop on Competency-based Interviewing Skills for a Chinese Airline Company in September 2018. The program aim to share with participants field-proven approaches of structuring staff selection interviews and designing interview questions that help to assess candidates’ competency proficiencies against the organization’s requirements
Upcoming Workshops
Training Workshop on Communication & Influencing Skills
More and more researches have shown people on average spend more than one-third of his time in communicating with others, and influencing skills has become a critical factor in nowadays business environment. This workshop aims to equip participants with the necessary tactics for making the influencing outcome a success. Whether you are already a good communicator looking to gain a professional edge or need to improve in particular areas like relationship building, presenting ideas or handling objections, this highly practical and interactive course will definitely take your know-how to the next level.
Module 1: Communication Fundamentals
- 10 Methods for Effective Communication
- Vocal vs. Verbal Communication
- The Power of Body Language
- Giving Positive and Constructive Feedback
Module 2: Developing Communication & Influencing Skills Step-by-step
- What is Influencing & Why It Fails
- The Influencing Process and Its Critical Success Factors
- Understanding Your and Others’ Communication Style
- Influencing Strategies for People with Different Communication Styles
- Mingling Skills for Relationship Building
- Questioning Skills for Fact Finding
- Direct vs. Indirect Approaches for Presenting Your Argument Points
- Difference among Assertive, Non-assertive & Aggressive Behaviors
- Empathetic Listening and Responding Techniques for Building Rapport with Others
- Overcoming Objections and Emotional Response
- Reaching Consensus with Others
Date: 19 Jul 2018 (09:30am - 05:30pm)
Venue: 14/F, Fairmont House, 8 Cotton Tree Drive , Admiralty, HK
Medium: Cantonese with English materials
Fee: HK$ 1,300
Early Bird Fee: HK$ 1,170
Group Discount: 1 extra free seating will be offered for group enrollment of 2
To register for this workshop, please click HERE
Training Workshop on Lead and Engage the Young Generation Workforce
With the new economic era – Globalization and the emergence of the new workforce, leaders are facing a new challenge to lead and engage team members in new generations. Leader must acquire a new miset and skill set to retain their talent pool and maintain the company’s competitiveness
Workshop Outline:
- From industrialization to globalization
- The mix of the current workforce – Baby Boomer, Generation X, Y & Z
- Characteristics of Gen Y and the challenges
- Adjust our mind set to lead and engage Gen Y & Z
- Identify new leadership behaviour for the future
- Significance of staff engagement to business results
- The 5 level Model
- The economic impact
- Disadvantage of low staff engagement and retention
- Unleash the potential of Gen Y
- Understand Gen Y communication mode
- Communicate with Gen Y using “BEST” model
- Motivation Factors for Gen Y
- Unleash Gen Y’s potential using “Whole person concept”
- The “Core Fours” to perform to “BEST”
- Understand the “Core Fours” in Gen Y Engagement
- Identify Leadership responsibilities in each “Four”
- Leadership Action Plan for tomorrow
- Practical Tips and Case Studies in Engaging Gen Y
Date: 9 July 2018 (9:30am to 5:30pm)
Venue: 14/F, Fairmont House, 8 Cotton Tree Drive , Admiralty, HK
Medium: Cantonese with English materials
Fee: HK$ 1,300
Early Bird Fee: HK$ 1,170
Group Discount: 1 extra free seating will be offered for group enrollment of 2
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
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It's time to plan for Training and Development now!
HMI helps clients to structure training needs analysis to identify 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 mode corporate management.
For more information about the how HMI can assist your company in Training and Development, please call us at (852) 3627 3673 or email to enquiry@hmi.hk.
June 2018 HR/ Economic Highlights
According to a survey conducted by Robert Half in December 2017 polling 75 chief finance officers (CFOs) in the finance and accounting sectors in Hong Kong, frequent job changes has become a norm among millennial workers in the industries. Key highlights are as follows:
- The surveyed CFOs considered five job changes in 10 years as frequent
- 87% of the CFOs surveyed indicated millennial workers in the finance industry (aged between 23 and 41) were prone to frequent job changes
- 36% of the CFOs thought Gen-X workers (aged between 42 and 53) in the finance and accounting industries were prone to frequent job changes
- 24% of the CFOs indicated baby boomers (aged between 54 and 72) changed jobs frequently
- On the backdrop of employees’ frequent job changes, 60% of the CFOs in the survey were still willing to hire frequent job changers
- Respondents also indicated the pros and cons of frequent job changes for employees including: faster pay rise (47%), expediting learning (35%), acquiring more skills (35%), loss of promotion opportunities (45%), lack of career protection (39%), and loss of job opportunities (31%) [Source: Skypost (P4), 4 May 2018]
According to the official data by the Census and Statistics Department, retail sales in March this year recorded the second-biggest jump since 2015, benefitting from robust tourism and improved consumer sentiment. Key highlights are as follows:
- The value of total retail sales rose 11.4% year on year in March 2018 thanks to robust tourism and upbeat consumer sentiment
- Sales of jewellery, watches and valuable gifts performed the best in all categories in March, registering 23.1% growth, followed by department store goods (up 17.7%), and medicines and cosmetics (up 16.5%)
- A government spokesman expected the near-term outlook to remain optimistic
- The Retail Management Association estimated that sales for the whole year could even break the record HK$494 billion set in 2013 and expected near double-digit growth for H1 2018
- Instead of opening new shops to ride on the strong performance, Hong Kong retailers may choose to expand the floor space of current outlets instead of opening new shops due to a chronic manpower shortage
- Tourism dollars contributed to 11.1% of Hong Kong's gross domestic product in 2017
- More than 15 million tourists visited Hong Kong in the first three months of 2018, up 9.6% year on year [Source: HKET(A19)/ Ming Pao(B5)/ SCMP(C2), 4 May 2018]
According to the official data by the Government, the number of working poor with post-secondary education or above in Hong Kong increased to 28,300 in 2016 from 18,400 in 2012. Key highlights area as follows:
- The median starting monthly salary of university graduates dropped to HK$13,916 in 2015 from HK$16,371 in 1995, indicating that the income level of university graduates had deteriorated and higher education could not help moving them out of poverty
- The poverty rates among employed persons with post-secondary education and those employed with a degree were 2% and 1.6% respectively
- Among the 10,000 newly added poor employed persons with post-secondary education between 2012 and 2016, about 5,600 were part-time workers aged 18 to 24, and 4,300 were full-time workers
- Academics and experts indicated that young people’s attitude towards work, tendency to take up part-time or freelance work, frequent change of jobs and deflation of academic qualifications contributed to this situation [Source: Oriental Daily(A19)/ HKET(A24)/ Metro Daily(P12)/ Skypost(P2)/ Ta Kung Pao(A8), 10 May 2018]
Hainan has introduced a “one million talent plan” to attract top-level talent by offering incentives from this year until 2025 to help build the free-trade zone. Key highlights are as follows:
- People with college diplomas and middle-level vocational certificates can apply for local residency or have a right to buy a local property
- Master’s degree holders and those with other standing qualifications will be eligible to apply for residency at any location in Hainan
- Qualified talent will be offered subsidised housing and the right to buy a partial stake in a property after working in Hainan for one year; after five years, they will be granted a 80% stake in the flat for no additional charge; after eight years, they can fully own the property
- Another incentive will be to offer employees rent subsidies for three years, with a monthly subsidy ranging from 1,500 to 5,000 yuan, depending on their job ranking
- Hainan will also relax restrictions for non-local workers, including those from Hong Kong and Taiwan to facilitate highly qualified individuals to apply for work visas and permanent residency [Source: Ming Pao(A15)/ HKEY(A19)/ Hong Kong Commercial Daily(A13)/ Ta Kung Pao(A19)/ SCMP(B1), 15 May 2018]
According to the Census and Statistics Department, Hong Kong ‘s unemployment rate dropped to 2.8% for the period from February to April 2018, down 0.1 percentage point from the January to March period, hitting a 20-year low. Key highlights are as follows:
- Total employment was 3.87 million, down 5,800 from the preceding three months
- The labour force decreased 4,900 to 3.98 million over the same period
- The number of unemployed persons rose 4,900 to 112,900 over the same period
- Most major service sectors showed visible improvement in unemployment situation due to the vibrant economic environment and continued recovery of tourist arrivals. Jobless rates in financing, education as well as trade and tourism-related sectors saw notable declines. Unemployment rate for financing, retail and accommodation services dropped 0.8%, 1.1% and around 2% respectively year on year [Source: The Standard (P15)/ Sky Post (P06)/ HKET (A08)/ Ta Kung Pao (A6)/ Lion Rock Daily (A8), 18 May 2018]
According to the Institute for Management Development’s World Competitiveness Yearbook 2018, Hong Kong ranked second as most competitive economy in the world among 63 economies. The rankings were measured by four competitive factors, namely “economic performance”, “government efficiency”, “business efficiency” and “infrastructure”, which each of them consisted of five sub-factors. Key highlights of the report are as follows:
- The US surged three places to the first globally, followed by Hong Kong (2nd), Singapore(3rd), Netherland (4th) and Switzerland (5th)
- China ranked 13th globally and third among the Asia-Pacific region for the first time, ahead of Taiwan at 17th
- Hong Kong ranked first for the factors of “government efficiency” and “business efficiency” for four consecutive years while its performance for the factor of “economic performance” rose from 11th in 2017 to 9th in 2018 due to the above-trend economic growth. For the factor of “infrastructure”, Hong Kong slipped from 20th in 2017 to 23rd in 2018 [Source: Sing Tao Daily (online), 24 May 2018]
Deutsche Bank released the "Mapping the World's Prices" report, comparing the costs of living and services around the world. Hong Kong ranked 23rd in citizens’ income, with a monthly average of HK$19,890. The report stated that the higher the cost of living, the higher the monthly income. Zurich topped the ranking in average monthly income at HK$44,959. [Source: Skypost(P13), 28 May 2018]
According to the annual pay survey by ECA International, expatriate pay packages in Hong Kong rebounded in 2017 after hitting a five-year low. Key highlights are as follows:
- The survey polled over 290 companies from 160 countries, covering the salary information of more than 10,000 expatriates
- An expatriate pay package for a middle manager in Hong Kong was about US$268,514 (more than HK$2.1 million) a year, ranking the fifth worldwide
- Japan was the most expensive location to employ expatriate staff, both globally and in Asia, with an average pay package for a middle manager per annum in 2017 reaching US$356,224, followed by Britain (US$344,508), India (US$293,000) and the mainland China (US$276,387)
- The cash salary packages offered to local staff increased by an average rate of 4% in 2017 [Source: Wen Wei Po(A8)/HKET(A24)/ Oriental Daily(A17)/ The Standard(P8), 29 May 2018]
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
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.
Strategic Partners:
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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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