bioeconomy: managing talent and human capital
DESCRIPTION
BioMalaysia 2012 Conference : Driving Innovation and Wealth Creation through Bioeconomy November 2012, KL BioEconomy: Managing Talent and Human Capital • Talent Wars in the New Economy • Aligning Human Capital strategies with the Business Model • Optimizing Compensation & Benefits • Developing a Talent Management system • Motivating & Engaging Employees vs. Retention • Addressing the Talent Scarcity problemsTRANSCRIPT
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HUMAN CAPITAL TOPIC - DEVELOPING A WORKFORCE TO SUSTAIN THE GROWING BIOECONOMY Case Study, Concepts and Debatable Ideas
Kenny Ong
Takaful IKHLAS Sdn Bhd
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TAKAFUL IKHLAS CORPORATE PROFILE
• Shareholder : MNRB Holdings Berhad (100%)
• Established Date : 18 September 2002
• Operational since : 2 July 2003
• Takaful Model : Al-Wakalah
• Business Portfolio : General and Family Takaful
• Number Products : More than 90
• Number of Participants : More than 1,800,000
• Number of Agents : More than 6,000
• Number of Staff : 490
• Regional Offices : 11
• Paid Up Capital : RM295 million
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Menu
1. Business Model and Human Capital
2. Talent War – attraction & retention
3. Human Capital Development
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The McPlaybook*
Make it easy to eat
• 50% drive-thru
• Meals held in one
hand
Make it easy to prepare
• High Turnover
• Tasks simple to learn
& repeat
Make it quick
• “Fast Food”
• Tests new products
for Cooking Times
Make what customers want
• Prowls market for new
products
• Monitored field tests
*Adapted from: Businessweek , Februrary 5th 2007
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Alignment: 4-Wheels Model
Culture
Business
Model Strategy
Structure Person
Leadership
Resources
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Business Model
The Business of business is business,
not Employee Engagement
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What is the Business
Model?
USP
Market
Discipline Profit Model
•Tata Nano
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Market Discipline
"They are the most innovative"
"Constantly renewing and creative"
"Always on the leading edge"
"A great deal!"
Excellent/attractive price
Minimal acquisition cost and hassle
Lowest overall cost of ownership
"A no-hassles firm"
Convenience and speed
Reliable product and service
"Exactly what I need"
Customized products
Personalized communications
"They're very responsive"
Preferential service and
flexibility
Recommends what I need
"I'm very loyal to them"
Helps us to be a success
Product Leadership
Operational Excellence
Customer Intimacy
• Cost
• Convenience
• TCO
• Features,
Benefits
• Limited
Range
• Solutions
• Customization
• Breadth &
Depth
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Market Discipline
"They are the most innovative"
"Constantly renewing and creative"
"Always on the leading edge"
"A great deal!"
Excellent/attractive price
Minimal acquisition cost and hassle
Lowest overall cost of ownership
"A no-hassles firm"
Convenience and speed
Reliable product and service
"Exactly what I need"
Customized products
Personalized communications
"They're very responsive"
Preferential service and
flexibility
Recommends what I need
"I'm very loyal to them"
Helps us to be a success
Product Leadership
Operational Excellence
Customer Intimacy •Air Asia
•LV
•Ramly
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Operational Excellence
(low cost producer)
Ref: The Discipline of Market Leaders, Michael Treacy & Fred Wiersema; 1995
Product Leadership
(best product)
Customer Intimacy
(best total solution)
Alignment & Consistency:
Market Disciplines
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Operational Excellence
(low cost producer)
Ref: The Discipline of Market Leaders, Michael Treacy & Fred Wiersema; 1995
Product Leadership
(best product)
Customer Intimacy
(best total solution)
Strategy: Market Disciplines
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Operational Excellence
(low cost producer)
Ref: The Discipline of Market Leaders, Michael Treacy & Fred Wiersema; 1995
Product Leadership
(best product)
Customer Intimacy
(best total solution)
Strategy: Market Disciplines
HP well-balanced
portfolio, mass
customization
Acer super lean
cost structure,
aggressive pricing
Apple powerful
products, premium
pricing, limited range
Still Doing
well in
2009-
2011
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Operational
Excellence
• Competitive price
• Error free, reliable
• Fast (on demand)
• Simple
• Responsive
• Consistent
information for all
• Transactional
• 'Once and Done'
Customer Intimacy
• Management by
Fact
• Easy to do
business with
• Have it your way
(customization)
• Market segments
of one
• Proactive, flexible
• Relationship and
consultative
selling
• Cross selling
Product Leadership
• New, state of the
art products or
services
• Risk takers
• Meet volatile
customer needs
• Fast concept-to-
counter
• Never satisfied -
obsolete own and
competitors'
products
• Learning
organization
Strategy: Market Disciplines
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Operational
Excellence
Customer
Intimacy
Product
Leadership
Organization, jobs, skills
Management systems
Information and systems
Culture, values, norms
Business Model vs. Talent &
Performance Management
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Operational Excellence
•Central authority, low level of empowerment
•High skills at the core of the organization
•Disciplined Teamwork
•Process, product- driven
•Conformance, 'one size fits all' mindset
• Integrated, low cost transaction systems
•The system is the process
•Command and control
•Quality management
Organization, jobs, skills
Management systems
Information and systems
Culture, values, norms
Business Model vs. Talent &
Performance Management
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Organization, jobs, skills
Management systems
Information and systems
Culture, values, norms
Product Leadership •Ad hoc, organic and cellular •High skills abound in loose-knit structures •Concept, future-driven •Experimentation and 'out of the box' mindset •Person-to-person communications systems •Technologies enabling cooperation •Rewarding individuals' innovative capacity •Risk and exposure management •Product Life Cycle profitability
Business Model vs. Talent &
Performance Management
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Organization, jobs, skills
Management systems
Information and systems
Culture, values, norms
Customer Intimacy
•Empowerment close to point of customer contact
•High skills in the field and front-line
•Customer-driven
•Variation and 'have it your way' mindset
•Strong customer databases, linking internal and
external information
•Strong analytical tools
•Customer equity measures like life time value
•Satisfaction and share management
•Focus on ‘Share of Wallet’
Business Model vs. Talent &
Performance Management
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BIOECONOMY & HUMAN
CAPITAL
Background to:
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BioEconomy: Critical Job Families
1. Operate Plants
2. Design value-added products
and services
3. Production, Cultivation and
Harvesting
4. Use and recycling of products
5. Agriculture, forestry, food,
chemical, pharmaceutical, energy
6. Consulting and Legal services
7. Planning, Operations,
Maintenance
Shortage
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BioEconomy: Critical Skill Sets
1. Technical Expertise**
2. Entrepreneurial Skills
3. Communication (inter-
disciplinary, multi
nationalities)
4. Problem Solving (production
issues)
5. Critical Thinking (analysis,
risks)
Shortage
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**Technical Expertise for
BioEconomy
Bio
• Biotech
• Processing of bio-based
products
• Biomass production
• Environmental
• Energy, fuels
IT
• General Software (Office)
• Quantitative & Statistical
• Information Systems
• ERP, SCM
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High-Level Solutions
MSC-like eco-system -> BioNexus
Education
BioTalent Corp
HR Exchange
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High-Level Solutions:
Education
Sector-Academia
Partnership
↑ Writing & Presentations
Incorporate IT Skills in Course
Assignments
“Hands-On” Teaching
Advisory Board Memory vs.
Critical Thinking
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High-Level Solutions:
BioTalent Corp
Best Practices
Expats KDC FStep Out-reach
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THE TALENT WARS
Attraction & Retention
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Branding and Positioning:
“You don’t attract who you want.
You attract who you are” John Maxwell
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What needs work?
Current Brand
Import
ance to
Ta
rge
t S
eg
me
nt
High
Low
Weak Strong
High Salary
Career
Opportunities
Familiarity
with Tasks
Training
Opportunities
Attractive Location
For people like me
Fun place to work
Expected
success of
application
Innovative
company
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What needs work?
Current Brand
Import
ance to
Ta
rge
t S
eg
me
nt
High
Low
Weak Strong
High Salary
Career
Opportunities
Familiarity
with Tasks
Training
Opportunities
Attractive Location
For people like me
Fun place to work
Expected
success of
application
Innovative
company
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Retention
Retention
Experience Swing Ex
Oppose
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Retention 1: Experience
Loyalty = Experience vs. Expectations
Solution Strategy: Brand
Experience, Positioning, Career
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Loyalty 2: Swing
Loyalty = Best alternative at the current
moment until I find another alternative
Solution Strategy: Improve your
Talent Management Plan, Try Your
Best, or Live with It
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Loyalty 2: Swing
Swing Talents are “loyal” because:
• Individual Relationships
• Convenience (at that point in time)
• Contractually tied-up
• Direct Incentives*
• No better alternative
• Subordinates
• No known alternative
• CV friendly
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Post-Recession
Retention
Experience Swing Ex
Oppose
Post-Recession
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Swing Loyalty: Try Your
Best…
1. Over Promote
2. Loans
3. Spot Bonuses
4. Block recruiters
5. The Spouse
6. Toys
7. Glorified Titles
8. Forced Ambassador
9. “Position” the
competition
10.Sell the Dream
11.Give them a Best
Friend
12.Internal Trainer
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Talent Scarcity and Brain-
Drain Problem
1. Change your Business
2. Change your Business Model
3. Re-locate
4. In-Source
5. JV or Partnership or Swap
6. Create micro Business Units
7. Over Promote
8. Over Pay
9. Contractual tie-up
10. Hire Low, Train High
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End Notes
The end of the Beginning
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Which Company?
American Customer Satisfaction Index (ACSI)
• 64 out of100-point scale: lower than IRS (Tax)
• 2nd last among 30 companies surveyed
• Lowest 5% among 223 companies surveyed
• Bottom 5% of all measured private sector
companies
• 500 million customers
2010 American Customer Satisfaction Index
(ACSI) E-Business Report
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Which Company?
American Customer Satisfaction Index (ACSI)
• 64 out of100-point scale: lower than IRS (Tax)
• 2nd last among 30 companies surveyed
• Lowest 5% among 223 companies surveyed
• Bottom 5% of all measured private sector
companies
• 500 million customers
2010 American Customer Satisfaction Index
(ACSI) E-Business Report
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Popularly Unpopular
Popularity
≠
Affection
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Thank You.
soft copy of slides: http://totallyunrelatedrandomanddebatable.
blogspot.com/