Maximizing Human Capital in Asia: From the Inside Out

Human Resources › HR Management

Maximizing Human Capital in Asia From the Inside Out

By Elizabeth Martin-Chua
John Wiley & Sons August 2009

Specifications

ISBN-13
9780470824795
Publisher
John Wiley & Sons
Publication
August 2009
Format
Paperback , 256 pages
Jurisdiction
Asia ? Countri(es) for reference only

Details

Organizations do not fully appreciate the link between people and business. They are too driven by short-term financial pressures, resulting in the failure to acknowledge the relationship between leadership, people management processes and business growth. Last but not least, employees’ true needs are also not satisfied.

What is the solution?

 
As "growth" is the objective of all parties, HR must build an employee value proposition that would achieve this. This value proposition has to premise itself on satisfying employees’ needs that will result in highly engaged employees, who in turn will deliver high-quality products and services, bringing about happy customers. This interactive process will maximize the human capital and business growth through a strong employer and product brand.
 
In particular, to be successful in Asia, it is important to synergize East with West in all decision making. Three approaches are recommended: Global for Local, Local for Local and Local for Global.
The first is having a mindset of a global framework allowing for local customization when necessary. The second is encouraging local for local initiatives to capitalize on local advantages. The third is sharing best experiences and strengths for global benefit. In the case of talent management, organizations should strongly encourage diversity and inclusion, to take advantage of the strengths of the talents that come from different cultures–to maximize the company's human capital, from the inside out. This is a unique opportunity and should not be missed.

Table of Contents

Acknowledgments.

Introduction: Lessons Learned: From Personnel Management to Talent War.
 
Chapter 1: What is HR?
HR Evolution in Asia.
Customer Insight of Asian Employees.
The EVP: A Model Tested in China.
Building a Good EVP in Asia.
What is HR? Frequently Asked Questions.
 
Chapter 2: Personal Growth and Business Growth.
Organic Growth.
Inorganic Growth: Mergers and Acquisitions.
Keys to M&A Success in Asia.
Links among Leadership, HR Processes, and Business Growth.
Personal Growth and Business Growth: Frequently Asked Questions.
 
Chapter 3: Leadership.
Good Leadership.
Why is Leadership High in the EVP?
Why is Engagement Important?
D&I.
Is Inclusive Leadership Becoming More Important?
What Makes Good Leaders in Asia?
How are Leaders Acquired?
360-Degree Feedback.
Succession of Leaders.
Asian Leadership Competencies.
Leadership: Frequently Asked Questions.
 
Chapter 4: Company Culture.
What is Company Culture?
Customers' Experience and Employees' Experience.
Turning Employees' Experience into a Good Employer Brand in Asia.
Measuring the Success of a Company's Culture.
Company Culture: Frequently Asked Questions.
 
Chapter 5: Acquisition.
Staffing.
Strategic Acquisition (Recruitment).
A Checklist for a Strong Acquisition Function in Asia.
Acquisition: Frequently Asked Questions.
 
Chapter 6: Development.
Importance of Development.
How Do Companies in Asia Do Development?
Management and Talent Development Review.
Coaching.
Why is Coaching Important?
Mentoring.
Key Elements in a Development Function in Asia.
Development: Frequently Asked Questions.
 
Chapter 7: Performance Management.
The Role of Performance Management.
Is Forced Ranking Necessary?
Target Setting.
Improving a Performance Management System.
Key Elements in a Performance Management System in Asia.
Performance Management: Frequently Asked Questions.
 
Chapter 8: Rewards Management.
The Importance of Rewards Management in Asia.
Performance Rewards: Pay for Performance.
Dos and Don'ts in Rewards Management in Asia.
Rewards Management: Frequently Asked Questions.
 
Chapter 9: How is HR Organized in Asia?
HR Roles.
Business HR.
Functional Experts.
Administrative Experts, Shared Services Centers.
Outsourcing.
Pitfalls to Avoid in Organizing HR Roles in Asia.
How is HR Organized in Asia? Frequently Asked Questions.
 
Chapter 10: Summary: How to Succeed in Asia.
Global Framework, Local Content (Global for Local Approach).
Local for Local Approach.
Local for Global Approach.
Concentrating on Strengths.
Labor Legislation and Good Industrial Relations.
Attractive Rewards and Incentives.
Speed and Freedom to Act.
D&I.
How to Succeed in Asia? Frequently Asked Questions.
 
Chapter 11: The Future of HR in Asia.
Changing Roles.
The Future of HR in Asia: Frequently Asked Questions.
 
Conclusion: Food for Thought.
Company Values and Culture.
Distribution of Wealth.
Job Descriptions and Rewards Packages.
Protectionism.
D&I.
 
Bibliography.
Index.

About the Author

Every business is a people business

 
Throughout her career, Elizabeth Martin-Chua has advocated building an employee value proposition that comprises of good leadership, a clear corporate culture and four pillars: talent acquisition, people and talent development, performance management and reward management, complete with performance indicators to ensure results.
 
Elizabeth joined Philips Electronics Singapore in 1971, and worked through the ranks of human resources (HR) management. In 1993, in addition to her Singapore role, she assumed the global human resource management responsibilities of the company’s audio business. She was also the founder of Philips Asian Talent Pool and its Diversity and Inclusion Champion for Asia.
 
In 2006, Elizabeth relocated to Shanghai and was appointed Philips' Senior Vice President (HR) for Greater China. In the subsequent year, she also took on the HR coordination role for Asia.
 
In the field of human resources, Elizabeth's primary interest is to help an organization "grow talent" and reduce human capital wastage by utilizing its human capital as a competitive advantage. In this respect, she firmly believes that businesses grow when people grow and advocates people development, talent manage¬ment, leadership competencies, employee engagement and succession planning.
 
Elizabeth was named best HR director in Singapore in 2005 and won the Robert Walters Award. In 2006, Philips Electronics Singapore was named the Best HR Team and Elizabeth was presented the Convergys Award for Outstanding Contributions to HR in 2007. These accolades were organized by HRM Singapore. Elizabeth was conferred a PhD in Management from the University of Southern Australia in 2002.
 

Reviews

Sound insights and a compelling plea—building on her ample experience as HR leader, Elizabeth Martin-Chua successfully connects the value of focusing on people’s growth with the dynamics of today’s business reality.

--Hayko Kroese
Corporate Head of HR, Royal Philips Electronics, Amsterdam

For American businessmen going to work in Asia, this is a book that is a “must-read”. The author puts all of her experience in Asia with multinational companies at the disposal of her readers.
--Paul Zeven
President, Paul Zeven Executive Coaching, Paris

Maximizing Human Capital in Asia explains very clearly what works for HR in Asia. Even though I lived and worked in Asia for 15 years, there are valuable new insights that I have gained. A must for everyone either doing, or wanting to do, business in Asia.
--Erik Geilenkirchen
Chief Human Resources Officer, Cofra Holding AG, Zurich

Valuable insights from a practitioner with decades of hands-on experience in heading HR in ASEAN and China —useful reading for all managers who are new in Asia.
--Vineet Kaul
Chief People Officer, Hindalco Industries Limited, Mumbai

Maximizing Human Capital in Asia gives a comprehensive view of HR practices in Asia. It provides a good insightful analysis and valuable recommendations for the managers who operate business in Asia.
--Patrick Kung
Chairman and CEO, Philips Electronics China, Shanghai

I agree with the author that a clear value system is important for an organization, her experience makes interesting reading. This book gives a good insight into HR in Asia.
--Leong Yue Wing
CEO, TCL Multimedia Technology Holdings Limited, Shenzhen

Finding the right approach to Human Resources Management in a diverse region as Asia is challenging. This book is written by a very experienced and seasoned HR executive with a long track record in Asia. It gives you instant insights. A must for anyone new to HR in Asia.
--Thomas Stassen
Chief Officer Human Resources Asia, Prudential Corporation Asia, Hong Kong

This is a must-read and gives great insight into current HR practices in Asia.
--Fabian Wong

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