adecco vietnam - reshaping hr strategy in next stage 2014 - 2016
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Reshaping strategy for
Attracting Talents and HR Management
Nicola Connolly, Adecco Vietnam
Times Have Changed!
Work Has Changed…
From Full Time Employment…
To Outsourced and Flexible
Workforce Solutions
Work Has Changed…
Work Has Changed…
From A Job For Life…
Work Has Changed…
From A Job For Life…
Work Has Changed…
To A Job For Now
Work Has Changed…
To A Job For Now
From People Moving To Where The Work Is…
Work Has Changed…
To The Work Moving To Where
The Talent Is
Work Has Changed…
From Big and Readily Available
Talent Pools…
Work Has Changed…
To Skills Shortages and a
Potential Talent Shortage
Work Has Changed…
Asia
Market Economy
• Global economy crisis restructures growth
• Inflation
• Cost of employment vs productivity
• Transactional HR to HR Board of Director – A SEAT AT THE TABLE
Talent Crunch
• Job seekers today are interested in far more than just „a job‟
• Leadership is important – people want to work for motivational and
inspirational leaders
• Generation X‟ers are considering different and often entrepreneurial work
options
• Generation X‟ers & Y‟ers have more of a loyalty to themselves and their
work options – than was demonstrated by the Baby Boomers
The challenges facing HR
Are You
Ready?
Market Economy – HR Strategic planning
In all economic climates, but
specifically during economic
volatility, the shelf life of a
strategic plan is less than one
year.
• In nonvolatile times, the “half-
life” of a strategic plan is
approximately ten months.
• In times of uncertainty and
volatility, a strategic plan can
abruptly expire as quickly as
two months after its
construction.
• HR must develop a close
relationship with the business
to stay on top of changing
business strategy to
understand what implications
the changes have on HR.
The Shelf Life of Strategic Plans Under Different Economic Scenarios
12
10
2
Forecasted Normal Economic
Conditions
Economic Volatility
Duration of Strategic Plan Value
(in Months)
Duration of Strategic
Plan Value
(in Months)
Strategic plans typically lose all of their
decision-making value within 10 months.
This requires that organizations revisit their
plans at least once during the year.
During economic uncertainty, the
shelf life of a strategic plan can be
less than 2 months, necessitating
frequent updates and revisions.
Implications of Shorter Shelf Life for HR Planning
Integration with the business is even more critical as economic conditions
change frequently
Increased need to monitor and revisit the HR plan more frequently
Current HR plans may be ineffective in meeting changing business goals
Of 20 key HR priorities,
one third of regional HR
executives' focus is on
extending HR's impact by
improving leadership and
strategic performance.
• As a consequence of
growth expectations
without significant staff
investments, HR strategic
planning will play an
important role in
identifying and responding
to the human capital risks
to business strategy.
Revenue Expectations Fall in Asia as Cost Pressures Remain
Percentage of Executives Expecting Higher Revenue and Cost Pressure, Asia
Percentage of Senior Executives Rating Specific Trend as One of Top
Three Impacting Business Over Next Five Years
2012
Source: CEB, Asia Business Barometer Survey; CEB, Asia HR Executive Board HR Priority Survey, 2012
Goal of HR Strategic
Planning:
To Meet Talent Challenges
HR strategic planning is the
process that enables the
organization to identify and
respond to the HR functional
and talent risks that inhibit
successful execution on
strategic priorities.
HR STRATEGIC PLANNING - A CRITICAL BUSINESS PRIORITY
Ineffective
42%
Effective
58%
HR‟s effectiveness at
conducting HR strategic
planning is mixed.
• The most common
reason HR strategic
plans fail is a lack of
integration with business
strategy.
• This lack of integration is
a result of the inability of
HR leaders to surface,
understand, and
translate business
strategy into HR strategy.
Inability to Justify
HR Investments
26%
Other
21%
Lack of Integration
w ith Business
Needs
53%
How Effective Is HR at Strategic Planning? What Is the Most Common Reason HR
Strategic Plans Fail at Your Organization?
Strategic plans
most frequently
fail due to lack of
integration with
business needs.
HR STRATEGIC PLANNING RESULTS MIXED DUE TO POOR INTEGRATION
WITH THE BUSINESS
There are four main
business integration-
related challenges that
reduce the effectiveness of
HR strategic planning.
• To overcome these
integration challenges, HR
should conduct strategic
planning across four
stages and eleven steps.
Common HR Strategy Challenges
Challenge 1: Understanding the Business
Strategy
HR fails to understand the short- and long-term
strategy of the business
HR fails to identify the critical HR capabilities
needed to support the business strategy
HR Strategic Planning Process Solutions
Stage 1: Gather Information from the Business
Step 1: Align HR and Business Planning Calendars
Step 2: Create Dialogue to Understand Business Strategy
Step 3: Translate Business Priorities into HR Capabilities
Step 4: Assess Current State of HR Effectiveness at HR
Capabilities
Challenge 2: Translating Business Strategy
into HR Strategy
HR fails to understand the HR success metrics
associated with business strategy
HR fails to identify the connectivity between
HR functions and programs
Stage 2: Prioritize and Define HR Strategy
Step 5: Prioritize HR Initiatives Based on Business
Strategy and Current HR Capability
Step 6: Unify HR Solutions into an Integrated Plan
Step 7: Ensure Strategic Plan Identifies Success Metrics
Challenge 3: Obtaining Buy-in from the
Business
HR lacks the framework to build a compelling
business case for their strategies and budget
HR infrequently communicates the strategic
plan to a limited group of stakeholders
Stage 3: Present Strategy to Stakeholders
Step 8: Gain Executive Approval for Strategic Plan
Investments
Step 9: Customize HR Communications Plan for All
Stakeholders
Stage 4: Monitor and Adapt HR Strategy
Step 10: Measure and Report Progress Toward Strategic
Goals
Step 11: Adapt HR Strategy as Business Conditions
Change
Challenge 4: Adapting Strategy as Business
Conditions Change
HR lacks the tools to measure the success of
the HR strategic plan over time
HR has no clear framework for adapting the
strategy as needed
CURRENT HR STRATEGIC PLANNING FALLS SHORT IN FOUR AREAS
HR - A SEAT AT THE BOARD OF DIRECTOR
1. Integrate Business – HR Strategic goals by aligning planning calendars
2. Create dialogue with the business to understand strategic objectives
3. Translate business priorities into critical HR capabilities
4. Assess current state of HR effectiveness at critical HR capabilities
5. Prioritize HR initiatives based on business strategy and current HR capability
6. Unify HR solutions into an integrated plan
7. Ensure strategic plan identifies success metrics
8. Gain executive approval for strategic plan investments
9. Customize HR communications plan for all stakeholders
10.Measure and report progress toward strategic goals
11.Adapt HR strategy as business conditions change
Generations In The Workplace
Are Their Needs Understood?
Women In The Workplace
Diversity In The Workplace
Generation Y in the Vietnam‟s workplace
Largest consumer group in most countries
Involved in charity and community work more than any other
generation was - or is
Often raised in relative comfort and on the internet
Work on their own terms – command of technology often puts
them in a position to negotiate with potential employers
They join an organisation because something is ‘happening
there’….not just to get a job
Hard-working – but often on their own terms!
Global Talent Competitiveness
Index 2013 - Main findings
1. The global war for talent is on, and is uneven
2. Fostering talent competitiveness is a complex task, especially in
poorer countries
3. Upcoming „talent champions‟ are emerging
4. Global Knowledge Skills are critical and strategically important
5. Expect more changes in the coming years
Source: The Global Talent Competitiveness Index 2013
TOP CHALLENGES FOR CEOS GLOBALLY AND ASIA
TOP CHALLENGES FOR CEOS GLOBALLY AND ASIA
Source: The Global Talent Competitiveness Index 2013
Pay salaries at market rate or above
Provide attractive bonus and benefits plans
Demonstrate strong leadership and that „something is going on!‟
Be perceived as an employer of choice
HR & Marketing need to work closely for external public relations & company positioning
HR needs to be highly strategic – and always think one step ahead
WHAT DO ORGANIZATIONS IN VIETNAM NEED TO DO TO ATTRACT THE
BEST TALENTS?
• Highly Strategic & Directly Supporting Business Needs
• More ‘Consultative’ Vs ‘Operational’
• Even if managing downsizing and retrenchment – nearly always on
the hunt for top talent
• Becoming increasingly familiar and adept at strategic outplacement
• Playing a major role in employee motivation and employee
communications
THE HUMAN RESOURCE FUNCTION
• Maintaining momentum and keeping the business in mind
• If in a international environment – working closely with head office
on revising compensation and benefits and supporting
aggressive cost savings initiatives
• Big focus on Training & Development – it REALLY matters
• Working closely with department heads to review workforce needs,
understand demand and to continually plan
THE HUMAN RESOURCE FUNCTION
Questions & Thank You
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