Q: What is Succession Planning?
A: Succession Planning is the process of identifying and developing suitable employees through coaching, mentoring, off-job training or job rotation, to replace key players within an organization when their terms expire. From the risk management aspect, succession planning is important because researches foresee there will be critical shortage in companies of middle and top leaders for the next five years and it often takes years to develop effective management staff.
|
|
 HMI Performance Enhancement Seminar |
 |
Seminar on Performance Appraisal Best Practices in Hong Kong, 18 July 2013
|
Modern Human Resource Management focuses not only on operational and administrative issues, but also on the strategic alignment of employee performance and development with corporate directives. And as the current business environment in Hong Kong becomes more competitive, performance appraisal is gaining importance as a management tool to enhance individual and company performance. How does an effective performance appraisal system look like? How should it be developed to suit a Hong Kong company, or specifically, your company?
Seminar Objectives:
• To clarify the concepts and importance of performance appraisal
• To illustrate the best practices of performance appraisal for Hong Kong companies
• To provide practical tips in developing your own performance appraisal system
Event Details:
Date: 18 July 2013 (14:30 to 16:30pm)
Venue: 4/F Opulent Building, 402-6 Hennessy Road, Wanchai, Hong Kong
Medium: Cantonese with English materials
Fee: Complimentary
To register for this seminar, please click HERE
Agenda:
14:00-14:30 Registration
14:30-15:15 "Performance Appraisal Best Practices for Hong Kong Companies"
Mr.Wilson Chu, Principal Consultant, HMI Consulting Limited
15:15-15:45 Tea Break
15:45-16:30 "Empowering Performance Appraisal via Technology"
Mr.Victor Tsang, Partner, HMI Consulting Limited
Target Audience:
• Senior Executives
• HR Directors and Managers
• Professionals in HRIS
REGISTER NOWFor more information about the seminar, please call (852) 3627 3673 or email to marketing@hmi.hk.
Upcoming Workshops
|
|
Workshop on KPI Setting for Various Industries and Positions
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 Settings 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 Exercises
Simulation Exercises on KPI Development (Participants will have a chance to simulate the process of developing departmental objectives & KPIs under trainer’s facilitation)
Date: 20 June 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.
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 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.
• 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: 25 July 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
|
|
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.
|
| June 2013 HR Highlights |
 |
Economic Highlights
An HR consultancy interviewed 800 workers born since 1981, along with 634 employers to gauge their different views on work practices. Some findings are as follows:
- In a self-evaluation exercise, more often than not the Gen Y described themselves as “creative”, “lazy”, “self-
centred” and desiring “freedom”
- Most believed it was vital to have the opportunity to “participate in decision making” and to get an “instant
response” from colleagues during discussions rather than have them get back later with answers
- The type of mentors they enjoyed working with most were “supportive” superiors who could offer help when
they needed it but refrained from giving direct orders
- When choosing a job or staying with a company, Gen Y who are working find “cash return” the most important
factor, contrary to employers’ idea of “interest”
Some suggestions are given on how to work with the young generation:
- State clearly the job requirements, establish a friendly corporate culture & offer a solid career path
- Use informal and simple ways of communication, and try to give instant response
- Adopt a supportive mentor style
- Give compliment and freedom, and provide learning opportunities
[Source: SCMP (C2)/HKET (A36), 14 May 2013]
The government’s Pay Trend Survey Committee released the 2013 Pay Trend Survey Report which covers 109 private companies with a total of 180,253 employees to reflect the pay trend for the period 2 Apr 2012 to 1 Apr 2013. The findings are as follows:
- Junior, middle-rank and senior employees in the private sector received pay increases of 5.3%, 4.79% and
3.38% respectively
- Deducting annual pay increments for civil servants, government employees from the lower and middle salary
bands might get increases of 3.92%, and those in upper salary bands could get 2.55%
The HK Chinese Civil Servants’ Association said the rise could barely maintain their purchasing power amid an inflation rate of about 4%. The Disciplined Services Consultative Council said some members felt “very disappointed” at the results as they had expected a pay rise of up to 7%. The Model Scale One Staff Consultative Council said the findings fell short of its expectations, which had been on a par with last year’s 5.8% rise.[Source: HKEJ (A14)/HKET (A3)/SCMP (A1)/China Daily (p.1), 16 May 2013]
The Census and Statistics Department released unemployment and underemployment statistics for Feb - Apr 2013 with major figures as follows:
- Seasonally adjusted unemployment rate at 3.5%, same as that in Jan – Mar
- Underemployment rate remained unchanged at 1.6%
- Highest unemployment rate is seen in manufacturing (5.8%), retail (5.1%) and accommodation and food
services sector (5.1%)
- Unemployment rate of those aged between 15 and 24 rose from 8.1% in Jan – Mar to 9.1% in Feb – Apr
- Unemployment rate of managers and administrators rose to 1.7% from 1.3% a year earlier
An HR consultant said hiring intentions in the retail sector are still high as many international brands will open their outlets in HK. Salespersons have an average 8% pay rise this year. The base pay of those with two years of experience is around $11,000 to $15,000. University fresh graduates will have $9,000 to $12,000 as the starting monthly salary. The engineering and construction sectors may offer higher starting salary at $13,000 to $14,000.[Source: HKET (A4)/Ming Pao Daily (A8)/Shanghai Daily (online), 21 May 2013]
Below are some major findings of a salary trends and benefits survey for Q2 2013 by a career website, which interviewed 1,300 employees and 155 employers:
- 40% surveyed employers plan to hire in Q2
- Nearly 60% surveyed employees plan to change job within the next three months for promotion opportunities or
a better working environment.
- 65% employees who plan to change job want better benefits. Their preferred benefits are overtime pay and
five-day work week. However, surveyed employers consider medical insurance and maternity leave as
effective talent retention measures.
- 28% surveyed employees said they had not received any bonus in 2013 while some 25% received bonuses
equal to one month’s pay. Employees who received bonuses equal to more than two months’ salary are mainly
from the hotel, banking and insurance sectors
[Source: HKET (A38), 22 May 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.
|
| 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.
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
|
|