Q: Should the Departmental Key Performance Indicators (KPIs) be changed frequently?

A: Usually the Departmental KPIs should not be changed frequently as they align with the corporate directives and reflect the responsibilities of one function, which is normally considered permanent without much changes.  On the other hand, companies may annually review their corresponding quantifiable targets, weight factors and action plan of KPIs and make adjustment when necessary..

To guarantee their viability and ability to contribute in today’s organizations, HR Practitioners need to think of themselves and reposition their roles as strategic partners of their companies, contributing to the development and accomplishment of the organization-wide business plan and objectives. This Workshop provides HR Practitioners with the concepts of Strategic Human Resource Management as well as the ways to become partners with business leaders.

Workshop Content:

• Definition of HR 
• New Roles of HR Professional 
• Challenges for HR Professional in Nowadays Business Environment 
• Difference between traditional HRM and Strategic HRM 
• New Trends of HRM and Approaches 
• How HR Can Add Values to Business Success? 
• The HRM Cycle: Talent Recruitment, Selection, Development, Management & Retention 
• Implementing Business Strategies through Development of HR Strategies & System 
• Measuring HR Effectiveness 
• Tips for Getting a Seat at the Executive Table 
• Grow Your Strategic HR Consulting Skills 
• The Strategic HR Coach 
• Communication Tactics with Line Managers and the "Cs": CEO, CFO, COO, etc.

Date: April 14, 2010 (Wednesday)

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 info@hmi.hk.

Economic Overview 

After the Spring Festival, many factory managers in coastal cities find it difficult to recruit rural migrant workers, in sharp contrast to the end of 2008, when a large number of migrant workers had to temporarily return home as factories lost overseas orders amid the global financial crisis. The ongoing regional shortage of workers can be attributed to many factors. The recovery of the Chinese economy is one. However, the fundamental reason is the unbalanced industrial structure. A large number of labour-intensive, export-oriented and low-end manufacturers in coastal cities, once major contributors to China's economic development, have turned out to be unsustainable. Such manufacturers are unable to offer workers a decent pay, as the majority of their exported products remain at the low end of the international market. The new generation of migrant workers nowadays are better educated and have much higher job expectations, ranging from working conditions to salary and insurance packages. [Source: Xinhuanet.com, 3 March 2010] 

Meanwhile, China's year-on-year inflation rate was expected to be between 2 to 2.5 per cent for the first quarter this year, the National Development and Reform Commission (NDRC) said. The consumer price index (CPI) would see a moderate increase in the first quarter. China's CPI rose 2.7 per cent from a year earlier in February. The NDRC said food prices would begin to fall as the weather got warmer. [Source: Xinhuanet.com, 24 March 2010] 

In Hong Kong, confidence levels among Hong Kong exporters have almost recovered to pre-crisis levels as businesses become more optimistic about domestic demand on the mainland. But they remain pessimistic towards developed markets such as the United States, according to the Hong Kong Trade Development Council. The council’s quarterly export index, which measures the confidence level of local exporters, posted an increase for two consecutive quarters, the first time in two years. For the first quarter of 2010, the figure was 55.1, indicating that most respondents among the 500 Hong Kong companies surveyed were optimistic. Confidence was particularly high among exporters of electronics and timepieces, which both increased from the previous quarter to 56.8 and 6.3 respectively. Jewellery exporters, however, slipped further into pessimistic territory to 36.8. Clothing and toys, too, remained at lower than 50. [Source: SCMP (B3)/ HKEJ (P6), 17 March 2010]

Furthermore, the number of vacancies for university graduates reaches 1,826 from December 2009 to February 2010, a rise of 63 per cent compared to the same period last year, the Joint Institution Job Information System announced (JIJIS). Among all business sectors, vacancies in banking/ financial sector doubled compared with a year ago. Engineering sector also recorded a 54.3 per cent increase in vacancies. Human resources consultant said entry salary of university graduate ranges between HK$7,000 and HK$10,000. [Source: HKET (A34), 12 March 2010] 

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 newsletter.