Download - "Prepare for the Upturn" (PPT)
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Prepare for the Upturn逆境自強 迎接挑戰
Employment in HK: Issues and Policy ImplicationsCentral Policy Unit Public Seminar
Speaker : Ms Virginia Choi, President, HKIHRM
Date: 25 November 2002
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Agenda
What is HKIHRM?What is HKIHRM?
What is going on in the market?What is going on in the market?
What does that mean to me?What does that mean to me?
What is the job market environment?What is the job market environment? - Take aways for employers and employees- Take aways for employers and employees
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What is HKIHRM?
• A non-profit and non-government A non-profit and non-government professional organization formed in 1977professional organization formed in 1977
• With more than 3,400 members With more than 3,400 members (including 320 corporate members)(including 320 corporate members)
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Economic Economic & &
Employment Employment EnvironmentEnvironment
What is Going on in the Market?
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Macro Economic Environment
1) 1) Uncertain economic outlookUncertain economic outlook• US may experience economic
downturn2) Globalization2) Globalization
• Shortened business cycle3) China 3) China
• Continues to enjoy high GDP growth4) Knowledge economy4) Knowledge economy
• Human capital is the most important assetHK: Prudent but not pessimistic
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The Downward Spiral Massive
Change
DemoralisedWorkforce
Disconnectionfrom Customers
CostCutting/ResourceStretching
Internal focus
Lack ofCapacity to GrowMore Cost Cutting
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HK Employment Market1)1) Unemployment rate still remains Unemployment rate still remains
highhigh
2)2) Manpower mismatchManpower mismatch
3)3) Changing employment patternChanging employment pattern
4)4) OutsourcingOutsourcing
5)5) Flexible work arrangementFlexible work arrangement
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What does that Mean to Me?
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Transformation Requires a Leap
Can’t transact your way to transformation
Must think from the goal back
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(A) Skill Sets for the Workplace(A) Skill Sets for the Workplace
What is the Job Market Environment?
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Top 5 most Important Training Initiatives to Various Levels of Staff
Frontline Staff Supervisors Middle Management Senior Managers
1English Language Comprehension
Supervisory Management
Effective Problem Solving Skills
Strategic Planning
2General Computer
Skills Effective Problem
Solving Skills Presentation Skills
Change Management
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Basic Interpersonal
Skills for Associates
English Language Comprehension
General Management
Skills
Risk / Crisis Management
4Putonghua Compreh
ension
Basic Interpersonal
Skills for Associates
Resolving conflict / negotiation skills
Organization Development
5Effective Problem
Solving Skills Managing Priority
Project Management
Resolving conflict / negotiation skills
Source: Training Needs Analysis Survey 2002, IHRM
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Personal Quality being Measured in Appraisals
0% 10% 20% 30% 40% 50% 60%
Senior managers/ directors
Managers
Non-managerial staff
Industrial staff
Core competence Future potentialEmploy ee’s career w ishes/ aspirationsSpecific competencies for each job Functional competency applicable to specific business/ functional units Selection of traits or skills
Source: IHRM Incentive Policy and Performance Management Survey 2002
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Take Aways:1)1) For employees:For employees:
• Invest in themselvesInvest in themselves- - New workplace skills are needed, e.g.New workplace skills are needed, e.g.• Conflict-resolving / negotiation skills• Managing priority• Language skills: English and Putonghua- Personal quality being measured- Personal quality being measured• Core competency, future potential
2)2) For employers:For employers: • Invest in their people• Talent management
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(B) Change of Employment Mode(B) Change of Employment Mode
What is the Job Market Environment?
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Manpower Planning
1.1. Proportion of flexi workforce to total Proportion of flexi workforce to total workforce increases:workforce increases:
- 2001: 9.1% 2002: 11.9%
2.2. Proportion of companies with Proportion of companies with outsourced positions increases:outsourced positions increases:
- 2001: 22.6% 2002: 24.2%
Source: IHRM Manpower Planning Survey 2002
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Take Aways:1)1) For Employees:For Employees:
• Try to understand the global trends of outsourcing and flexi work arrangement
• Ensure your own employability• Keep an open and flexible mind-set to the
changing working environment
2)2) For Employers:For Employers:• Need professional management on flexi
workforce - e.g. how to motivate, how to provide effective training and how to reward
• Manage outsourcing projects professionally - - may lose control and risk fluctuating standards
• Communicate with affected staff
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(C) Change of Compensation & (C) Change of Compensation & Benefit PackageBenefit Package
What is the Job Market Environment?
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Pay Freeze is the Trend
1.1. First negative pay adjustment recorded in 2002 sFirst negative pay adjustment recorded in 2002 since 1984ince 1984
2.2. Overall weighted average adjustment in 2002Overall weighted average adjustment in 2002- 2001: 2.6% 2002: - 0.1%- 63.5% of responded companies opted for pa
y freeze3.3. 2003 predicted adjustment2003 predicted adjustment
- 82% predicted pay freeze
Source: IHRM Pay Trend Survey 2002
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The Use of Flexible Incentive Package
Non-guaranteed bonus paymentNon-guaranteed bonus payment- 89% surveyed companies provided
a non-guaranteed bonus scheme to some or all of their employees (vs. 84% in 2001)
- Among those employees eligible to be awarded a bonus, only 52% were actually awarded a bonus (vs. 88.7% in 2001)
Source: IHRM Pay Trend Survey 2002
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Take Aways:1) For Employees:1) For Employees:
- Incentives will only be awarded to high performers
- Work together with employers to enhance the competitiveness of companies
2) For Employers:2) For Employers:- C&B directly related to business profitability
- A properly designed non-guaranteed scheme to motivate staff performance and to flexi payroll costs
- Open communication, the right corporate culture & effective C&B strategy are key to enable changes with least pain but more understanding
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The Upward Spiral
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Well-Equip yourself,Be a Winner in the
Future!
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URL: http://www.hkihrm.org
Informative Website
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