Asia’s Increased
Competitive Landscape
HR Implications on
Talent Acquisition and Retention
http://www.flickr.com/photos/jo...
The Rise of Asia
What is the new diversified workforce?
Pop Quiz
Name this Country:
• Largest Military
• Currency is the Global
Standard for Commercial
Transactions
• Center of World Business
• One of Riche...
England at end of 19th Century
http://office.microsoft.com/en-us/images/results.aspx?qu=brittain&ex=1#ai:MP900422830|
Used...
USA at end of 20th Century
http://office.microsoft.com/en-us/images/results.aspx?qu=Old%20Glory#ai:MP900400667|mt:2|
Used ...
China at end of 21st Century?
http://office.microsoft.com/en-us/images/results.aspx?qu=china+flag&ex=1#ai:MP900400801|mt:2...
What does
“the rise of Asia” mean?
http://office.microsoft.com/en-us/images/results.aspx?qu=Asian#ai:MP900430918|mt:2|
Use...
If you are 1 in a million...
http://office.microsoft.com/en-us/images/MP900439324.aspx?redir=0
Used with permission of Mic...
In China, there are
1,350 people just like you
http://www.flickr.com/photos/dailuo/6759469363/
Flickr Creative Commons
In India, there are
1,240 more
http://www.flickr.com/photos/56796376@N00/3059483658/
Flickr Creative Commons
The top 10% of the
population in Asia...
Top 10%
Is greater than the entire
population of the United States
http://en.wikipedia.org/wiki/File:USA_orthographic.svg
There are more
honors students in Asia...
Flickr Creative Commons
http://www.flickr.com/photos/98195299@N00/296747958/
...than all students
in the USA combined
Flickr Creative Commons
http://www.flickr.com/photos/pinksherbet/6961676525/
There are more
English-speaking people in Asia...
Flickr Creative Commons
http://www.flickr.com/photos/41087714@N00/253197...
...than there are English people
Flickr Creative Commons
http://www.flickr.com/photos/tinou/380129764/
...or Americans
Flickr Creative Commons
http://www.flickr.com/photos/kevcole/4762409528/
If you took every job in the USA
and shipped it to Asia...
http://office.microsoft.com/en-us/images/results.aspx?qu=jobs#a...
...Asia would still
have a labour surplus
Flickr Creative Commons
http://www.flickr.com/photos/downeym/4550576962/
But...
No Asian company among top-10
largest publically traded companies
http://en.wikipedia.org/wiki/List_of_corporations_by_mar...
Talent remains a critical pressure
point for Asia businesses
Flickr Creative Commons
http://www.flickr.com/photos/46560341...
Singapore low population growth is
creating a labour shortage
http://oliveventures.com.sg/act/wp-content/uploads/2013/02/p...
Cost of living is increasing
http://www.straitstimes.com/breaking-news/money/story/singapore-most-expensive-city-the-world...
Compensation is rising
to grab scarce talent
Flickr Creative Commons
http://www.flickr.com/photos/84292292@N00/8623291417/
Education strategies not
matched to talent demands
Flickr Creative Commons
http://www.flickr.com/photos/48889125739@N01/11...
Shortage of qualified managers
in fast-growing Asia economies
Flickr Creative Commons
http://www.flickr.com/photos/7602903...
Diversified workforce is challenging
conventional performance models
http://www.flickr.com/photos/kodomut/3274861957/
Flic...
Majority of CEOs plan to increase
Asia headcount in 2014
Flickr Creative Commons
http://www.flickr.com/photos/74818532@N00...
Hiring levels in Asia are twice as
high as in US and Europe
http://www.pwc.com/saratoga
Breaking out of the talent spiral ...
But...
20% of new hires
leave within the 1st year
Flickr Creative Commons
http://www.flickr.com/photos/michaelduxbury/5004921106/
Turnover rates in Asia are twice
as high as US and Europe
http://www.pwc.com/saratoga
Breaking out of the talent spiral - ...
Your business needs to nurture
and hold close what you have –
it’s hard to fill the bath with
the plug out.
Michael Rendel...
Finding and retaining critical talent
is more challenging and expensive
Flickr Creative Commons
http://www.flickr.com/phot...
Global
43%
Asia
60%
It’s even more challenging in Asia
CEOs who say it is more difficult to hire talent
http://www.pwc.com...
Where do we go from here?
Less emphasis on structure
http://www.todayonline.com/singapore/play-important-early-childhood-education-heng-swee-keat
More emphasis on creativity
http://news.insing.com/feature/creativity-must-be-a-national-priority-nmp-janice-koh/id-f83b31...
G.P.A.’s are worthless as a
criteria for hiring, and test
scores are worthless.
We found that they don’t
predict anything
...
Re-think HR’s role in how companies
attract and retain talent
Flickr Creative Commons
http://flickr.com/photos/u-suke/7613...
Bringing in more expats
is not the solution
http://singaporeseen.stomp.com.sg/singaporeseen/this-urban-jungle/anton-casey-...
Expats in senior management
roles at MNCs
http://management.fortune.cnn.com/2013/06/24/leadership-diversity-multinationals...
Western MNCs are loosing the
advantage attracting local talent
http://www.executiveboard.com/blogs/5-key-asia-hr-trends-he...
http://www.todayonline.com/singapore/more-locals-hired-last-year-growth-foreign-employment-slows
Winning Companies
What sets them apart?
Upgrading HR to C-Suite
Used with Permission of Microsoft
http://office.microsoft.com/en-us/images/results.aspx?qu=meeting...
Priorities for Businesses
1. Attracting talent
2. Retaining talent
Priorities for business
Attracting talent
Employment Value Proposition (EVP) Framework
The set of attributes that the labor market and employees perceive as the
val...
Singapore EVP
Employment
Value
Proposition
Rewards
• Health Benefits
• Compensation
Opportunity
• Stability
• Development
...
Not all factors are equal
Rewards
WorkOrganization
Opportunity
Employee Workforce Insights for Singapore - Engagement and ...
But EVP is not enough
Flickr Creative Commons
http://www.flickr.com/photos/76029035@N02/6829385031/
Facebook’s $19 Billion Mistake?
https://twitter.com/brianacton/status/3109544383
What went wrong?
Overly-narrow job specifications
Flickr Creative Commons
http://www.flickr.com/photos/kheelcenter/5279251361/
HR does the recruiting
http://office.microsoft.com/en-us/images/results.aspx?qu=MP900431736&ex=1#ai:MP900431736|
Used with...
Traditional recruiting processes
Flickr Creative Commons
http://www.flickr.com/photos/cushinglibrary/3738556077/
Failure to prep the candidate
Flickr Creative Commons
http://www.flickr.com/photos/jyri/996063332/
Failure to prep hiring manager
http://office.microsoft.com/en-us/images/results.aspx?qu=MP900442211&ex=1#ai:MP900442211|
U...
Failure to leverage the interview
Flickr Creative Commons
http://www.flickr.com/photos/76029035@N02/6829510801/
Inadequate reference checks
Flickr Creative Commons
http://www.flickr.com/photos/76029035@N02/6829454435/
Decision process too long
Flickr Creative Commons
http://www.flickr.com/photos/76029035@N02/6829506735/
Job offer process too long
Flickr Creative Commons
http://www.flickr.com/photos/76029035@N02/6829381157/
Priorities for Businesses
1. Attracting talent
2. Retaining talent
Priorities for business
Retaining talent
Performance & Pay
What else is new?
High EVP satisfaction leads to
high performance and retention
The Corporate Executive Board Company.CEB Employee Workforce...
It’s not about the money
Flickr Creative Commons
http://www.flickr.com/photos/36495803@N05/8463683689/
We hired experienced, talented
people and gave them large salaries.
But did we retain them? No.
Dr. Sun Mingbo
President a...
Training
http://www.inc.com/abigail-tracy/onboarding-new-hires-dont-care-about-perks.html
HR needs more levers and dials
Flickr Creative Commons
http://www.flickr.com/photos/boedker/93511050/
The factors that lead to
extreme job satisfaction are
separate and distinct
from the factors that lead to
dissatisfaction
-35%
-20%
-10%
-10%
-8%
-4%
-6%
-5%
-3%
-2%
-11%
-4%
-13%
-9%
-11%
3%
4%
5%
2%
7%
1%
4%
4%
2%
1%
18%
20%
21%
30%
40%
Compa...
Normally we think of
satisfaction/dissatisfaction as
opposites. But job satisfaction
is not the opposite of job
dissatisfa...
Motivators
One More Time: How Do You Motivate Employees?
Frederick Herzberg Harvard Business Review Reprint 87057
-11%
-4%...
Extreme job satisfaction
http://office.microsoft.com/en-us/images/results.aspx?qu=joy&ex=1#ai:MP900431739|mt:2|
Used with ...
Demotivators
One More Time: How Do You Motivate Employees?
Frederick Herzberg Harvard Business Review Reprint 87057
-35%
-...
Extreme job dissatisfaction
http://office.microsoft.com/en-us/images/results.aspx?qu=dispair&ex=1#ai:MP900431223|
Used wit...
Neutral factors
One More Time: How Do You Motivate Employees?
Frederick Herzberg Harvard Business Review Reprint 87057
-4%...
Neither satisfied nor dissatisfied
http://office.microsoft.com/en-us/images/results.aspx?qu=boring&ex=1#ai:MP900442297|mt:...
What does this mean to HR?
Instead of giving employees
raises, bonuses, and
promotions...
Remove controls
while retaining accountability
Used with Permission from Microsoft
http://office.microsoft.com/en-us/image...
Increase accountability of
individuals for their own work
Used with Permission from Microsoft
http://office.microsoft.com/...
Give employees a complete
natural unit of work
Used with permission from Microsoft
http://office.microsoft.com/en-us/image...
Grant additional authority and
job freedom in their activities
Flickr Creative Commons
http://www.flickr.com/photos/mishis...
Feedback reports directly to
workers rather than supervisors
Used with Permission from Microsoft
http://office.microsoft.c...
Offer new and more difficult
tasks not previously handled
Used with permission from Microsoft
http://office.microsoft.com/...
Enable individuals to become
experts through specialized roles
Used with permission from Microsoft
http://office.microsoft...
How does HR Compensation
and Benefits fit in here?
supervision
status
security
work itself
recognitionsalary
personal life
achievement
responsibilitywork conditions
relation...
supervision
status
security
work itself
recognitionsalary
personal life
achievement
responsibilitywork conditions
relation...
supervision
status
security
work itself
recognitionsalary
personal life
achievement
responsibilitywork conditions
relation...
The motivators and
demotivators are not just
management issues.
They are HR issues.
Empower HR to change the
workplace environment
http://office.microsoft.com/en-us/images/results.aspx?qu=gestures#ai:MP9004...
Flexible work schedules
http://www.todayonline.com/singapore/raise-productivity-let-more-employees-work-home
Less emphasis on structure
http://www.todayonline.com/singapore/play-important-early-childhood-education-heng-swee-keat
More emphasis on creativity
http://news.insing.com/feature/creativity-must-be-a-national-priority-nmp-janice-koh/id-f83b31...
Performance & Development
Who is a talent?
Reframe the discussion on talent
http://office.microsoft.com/en-us/images/results.aspx?qu=gestures#ai:MP900407401|mt:2|
Us...
Weak managers hire skills
http://office.microsoft.com/en-us/images/results.aspx?qu=bosses#ai:MP900448685|mt:2|
Used with p...
Strong managers hire talent
and teach specific skills
http://office.microsoft.com/en-us/images/results.aspx?qu=professiona...
To avoid talent shortages, hire
talented managers
http://office.microsoft.com/en-us/images/results.aspx?qu=motivations#ai:...
Apprenticeship and mentoring
Used with permission from Microsoft
http://office.microsoft.com/en-us/images/results.aspx?qu=...
Technology undermines
search and retention of talent
Logos are trademarks of their respective companies
Application Tracking Systems
Flickr Creative Commons
http://www.flickr.com/photos/enerva/9153746729/
HR is becoming database admins
Flickr Creative Commons
http://www.flickr.com/photos/hunter0405/6396994487/
Successful candidates
from job boards
1.3% 1.2%
Screening out the best talent?
https://twitter.com/brianacton/status/3109544383
How to retain innovators?
http://www.forbes.com/sites/johnkotter/2013/08/21/googles-best-new-innovation-rules-around-20-ti...
From HR Programs to Reality
What makes the difference?
We decided to start over. We had
struggled for so long to improve
HR’s effectiveness in Asia, business
leaders just got fe...
Destined to Fail?
Flickr Creative Commons
http://www.flickr.com/photos/fdecomite/388303700/
70% of all change initiatives fail
Cracking the Code of Change by Michael Beer and Nitin Nohria
http://hbr.org/2000/05/cra...
Less that 1/3 of business executives
think that Asia HR is creating value
Transforming Asia HR's Enterprise Impact
http://...
We implemented [HRIS software]
last year. We spent a fortune on it,
and it’s practically worthless.
It literally must be t...
Why do initiatives fail?
Failure Causes Statistics
http://www.it-cortex.com/Stat_Failure_Cause.htm
11%
12%
13%
17%
20%
26%...
Our Head of HR was fired . . .
After three years of focus groups
and analysis, they basically told us
what we already knew...
HR shift from service provider
to enterprise enabler
Old Role:
Service Provider
HR Focus
Focusing on driving HR outcomes
I...
Barriers to transformation
Flickr Creative Commons
http://www.flickr.com/photos/rob-young/2954535776/
How to get past key barriers
Transforming Asia HR's Enterprise Impact
http://www.executiveboard.com/exbd/en-sg/human-resou...
Why change?
Upgrading HR to C-Suite
Used with Permission of Microsoft
http://office.microsoft.com/en-us/images/results.aspx?qu=meeting...
Empower HR to change the
workplace environment
http://office.microsoft.com/en-us/images/results.aspx?qu=gestures#ai:MP9004...
The question isn’t
who’s going to let me?
Its who’s going to stop me?
Paraphrasing Howard Roark
Ayn Rand
The Fountainhead
Asia’s Increased
Competitive Landscape
HR Implications on
Talent Acquisition and Retention
http://www.flickr.com/photos/jo...
Ask The Headhunter
• The Talent Shortage Myth and
Why HR Should Get Out of the Hiring Business
http://www.pbs.org/newshour...
IT Cortex
• Failure Causes Statistics
http://www.it-cortex.com/Stat_Failure_Cause.htm
Microsoft Office Online Images
• Ima...
Eric Pesik
Eric Pesik is a frequent speaker on legal and compliance matters
and has taught law school and business school ...
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Asia’s Increased Competitive Landscape - HR Implications on Talent Attraction and Retention by @EricPesik

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Asia’s Increased Competitive Landscape - HR Implications on Talent Attraction and Retention, by Eric Pesik. Presented at the Crown Leadership International Group: Compensation and Benefits Asia Congress, March 2014, Orchard Parade Hotel, Singapore: (1) The rise of Asia and the new diversified workforce; (2) Winning Companies: What sets them apart? (3) Performance & Pay: What else is new? (4) Performance & Development: Who is a Talent? (5) From HR Programs to Reality: What makes the difference?

Published in: Recruiting & HR

Asia’s Increased Competitive Landscape - HR Implications on Talent Attraction and Retention by @EricPesik

  1. 1. Asia’s Increased Competitive Landscape HR Implications on Talent Acquisition and Retention http://www.flickr.com/photos/jorgecancela/8009593783/ Flickr Creative Commons
  2. 2. The Rise of Asia What is the new diversified workforce?
  3. 3. Pop Quiz Name this Country:
  4. 4. • Largest Military • Currency is the Global Standard for Commercial Transactions • Center of World Business • One of Richest in the World • One of the Highest Standards of Living • Center of Innovation and Invention
  5. 5. England at end of 19th Century http://office.microsoft.com/en-us/images/results.aspx?qu=brittain&ex=1#ai:MP900422830| Used with permission of Microsoft
  6. 6. USA at end of 20th Century http://office.microsoft.com/en-us/images/results.aspx?qu=Old%20Glory#ai:MP900400667|mt:2| Used with permission of Microsoft
  7. 7. China at end of 21st Century? http://office.microsoft.com/en-us/images/results.aspx?qu=china+flag&ex=1#ai:MP900400801|mt:2| Used with permission of Microsoft
  8. 8. What does “the rise of Asia” mean? http://office.microsoft.com/en-us/images/results.aspx?qu=Asian#ai:MP900430918|mt:2| Used with permission of Microsoft
  9. 9. If you are 1 in a million... http://office.microsoft.com/en-us/images/MP900439324.aspx?redir=0 Used with permission of Microsoft
  10. 10. In China, there are 1,350 people just like you http://www.flickr.com/photos/dailuo/6759469363/ Flickr Creative Commons
  11. 11. In India, there are 1,240 more http://www.flickr.com/photos/56796376@N00/3059483658/ Flickr Creative Commons
  12. 12. The top 10% of the population in Asia... Top 10%
  13. 13. Is greater than the entire population of the United States http://en.wikipedia.org/wiki/File:USA_orthographic.svg
  14. 14. There are more honors students in Asia... Flickr Creative Commons http://www.flickr.com/photos/98195299@N00/296747958/
  15. 15. ...than all students in the USA combined Flickr Creative Commons http://www.flickr.com/photos/pinksherbet/6961676525/
  16. 16. There are more English-speaking people in Asia... Flickr Creative Commons http://www.flickr.com/photos/41087714@N00/253197253/
  17. 17. ...than there are English people Flickr Creative Commons http://www.flickr.com/photos/tinou/380129764/
  18. 18. ...or Americans Flickr Creative Commons http://www.flickr.com/photos/kevcole/4762409528/
  19. 19. If you took every job in the USA and shipped it to Asia... http://office.microsoft.com/en-us/images/results.aspx?qu=jobs#ai:MP900442205|mt:2| Used with permission of Microsoft
  20. 20. ...Asia would still have a labour surplus Flickr Creative Commons http://www.flickr.com/photos/downeym/4550576962/
  21. 21. But...
  22. 22. No Asian company among top-10 largest publically traded companies http://en.wikipedia.org/wiki/List_of_corporations_by_market_capitalization Up to date as of December 31, 2013. $240 $241 $255 $258 $284 $292 $310 $312 $442 $505 Chevron Corporation Hoffman-La Roche Wal-Mart Stores Johnson & Johnson General Electric Berkshire Hathaway Google Microsoft Exxon Mobile Apple (Switzerland)
  23. 23. Talent remains a critical pressure point for Asia businesses Flickr Creative Commons http://www.flickr.com/photos/46560341@N05/7022614653/
  24. 24. Singapore low population growth is creating a labour shortage http://oliveventures.com.sg/act/wp-content/uploads/2013/02/population-of-singapore-infographic.png
  25. 25. Cost of living is increasing http://www.straitstimes.com/breaking-news/money/story/singapore-most-expensive-city-the-world-study-20140304
  26. 26. Compensation is rising to grab scarce talent Flickr Creative Commons http://www.flickr.com/photos/84292292@N00/8623291417/
  27. 27. Education strategies not matched to talent demands Flickr Creative Commons http://www.flickr.com/photos/48889125739@N01/112866960/
  28. 28. Shortage of qualified managers in fast-growing Asia economies Flickr Creative Commons http://www.flickr.com/photos/76029035@N02/6829422155/
  29. 29. Diversified workforce is challenging conventional performance models http://www.flickr.com/photos/kodomut/3274861957/ Flickr Creative Commons
  30. 30. Majority of CEOs plan to increase Asia headcount in 2014 Flickr Creative Commons http://www.flickr.com/photos/74818532@N00/4911826885/
  31. 31. Hiring levels in Asia are twice as high as in US and Europe http://www.pwc.com/saratoga Breaking out of the talent spiral - Key human capital trends in Asia-Pacific 22% 10% 11% Asia USA Europe
  32. 32. But...
  33. 33. 20% of new hires leave within the 1st year Flickr Creative Commons http://www.flickr.com/photos/michaelduxbury/5004921106/
  34. 34. Turnover rates in Asia are twice as high as US and Europe http://www.pwc.com/saratoga Breaking out of the talent spiral - Key human capital trends in Asia-Pacific 15.2% 7.0% 6.6% Asia USA Europe
  35. 35. Your business needs to nurture and hold close what you have – it’s hard to fill the bath with the plug out. Michael Rendell PricewaterhouseCoopers, Global Head of HR Service Practice
  36. 36. Finding and retaining critical talent is more challenging and expensive Flickr Creative Commons http://www.flickr.com/photos/jseita/5407005494//
  37. 37. Global 43% Asia 60% It’s even more challenging in Asia CEOs who say it is more difficult to hire talent http://www.pwc.com/saratoga Breaking out of the talent spiral - Key human capital trends in Asia-Pacific
  38. 38. Where do we go from here?
  39. 39. Less emphasis on structure http://www.todayonline.com/singapore/play-important-early-childhood-education-heng-swee-keat
  40. 40. More emphasis on creativity http://news.insing.com/feature/creativity-must-be-a-national-priority-nmp-janice-koh/id-f83b3101
  41. 41. G.P.A.’s are worthless as a criteria for hiring, and test scores are worthless. We found that they don’t predict anything Laszlo Bock Senior Vice President of People Operations Google
  42. 42. Re-think HR’s role in how companies attract and retain talent Flickr Creative Commons http://flickr.com/photos/u-suke/7613586712
  43. 43. Bringing in more expats is not the solution http://singaporeseen.stomp.com.sg/singaporeseen/this-urban-jungle/anton-casey-furore-his-employers-currently-investigating-the-comments-and-will
  44. 44. Expats in senior management roles at MNCs http://management.fortune.cnn.com/2013/06/24/leadership-diversity-multinationals/ 56% 12% 1990s 2000s Proportion of expatriates in senior management roles at multinationals in China, India, Brazil, Russia, and the Middle East
  45. 45. Western MNCs are loosing the advantage attracting local talent http://www.executiveboard.com/blogs/5-key-asia-hr-trends-heading-into-2014/ Prefer MNCs 24% Prefer Domestic Firms 47% Other 29% China labor preference for working for a domestic company versus Western MNCs
  46. 46. http://www.todayonline.com/singapore/more-locals-hired-last-year-growth-foreign-employment-slows
  47. 47. Winning Companies What sets them apart?
  48. 48. Upgrading HR to C-Suite Used with Permission of Microsoft http://office.microsoft.com/en-us/images/results.aspx?qu=meetings&ex=1#ai:MP900422638|
  49. 49. Priorities for Businesses 1. Attracting talent 2. Retaining talent Priorities for business
  50. 50. Attracting talent
  51. 51. Employment Value Proposition (EVP) Framework The set of attributes that the labor market and employees perceive as the value they gain through employment in the organization Rewards Compensation Health Benefits Opportunity Development Opportunity Future Career Opportunity Growth Rate Meritocracy Stability Organization Customer Prestige Empowerment Environmental Responsibility Ethics/Integrity Formality of Work Env. ‘Great Employer’ Inclusion / Diversity Industry Desirability Market Position Product or Service Quality Respect Risk Taking Organization Size Social Responsibility Technology Level Well-Known Product Brand People Camaraderie Collegial Work Environment Co-Worker Quality Manager Quality People Management Sr. Leadership Reputation Work Business Travel Innovative Work Job–Interests Alignment Level of Impact Location Recognition Work–Life Balance Employee Workforce Insights for Singapore - Engagement and Retention of Talent in Singapore The Corporate Executive Board Company, February 2014
  52. 52. Singapore EVP Employment Value Proposition Rewards • Health Benefits • Compensation Opportunity • Stability • Development • Future Career Organization • Respect Work • Location • Work-Life Balance • Job Interest Align • Recognition People Employee Workforce Insights for Singapore - Engagement and Retention of Talent in Singapore The Corporate Executive Board Company., February 2014 Most frequently selected by employees in Singapore as reasons to join a new organization
  53. 53. Not all factors are equal Rewards WorkOrganization Opportunity Employee Workforce Insights for Singapore - Engagement and Retention of Talent in Singapore The Corporate Executive Board Company, February 2014 Employment Value Proposition EVP Attraction Benefits Reduces compensation premium needed to hire by 50% Rewards are Important Employees in Singapore are least likely to be satisfied with value of rewards Rewards •Health Benefits •Compensation
  54. 54. But EVP is not enough Flickr Creative Commons http://www.flickr.com/photos/76029035@N02/6829385031/
  55. 55. Facebook’s $19 Billion Mistake? https://twitter.com/brianacton/status/3109544383
  56. 56. What went wrong?
  57. 57. Overly-narrow job specifications Flickr Creative Commons http://www.flickr.com/photos/kheelcenter/5279251361/
  58. 58. HR does the recruiting http://office.microsoft.com/en-us/images/results.aspx?qu=MP900431736&ex=1#ai:MP900431736| Used with permission of Microsoft
  59. 59. Traditional recruiting processes Flickr Creative Commons http://www.flickr.com/photos/cushinglibrary/3738556077/
  60. 60. Failure to prep the candidate Flickr Creative Commons http://www.flickr.com/photos/jyri/996063332/
  61. 61. Failure to prep hiring manager http://office.microsoft.com/en-us/images/results.aspx?qu=MP900442211&ex=1#ai:MP900442211| Used with permission of Microsoft
  62. 62. Failure to leverage the interview Flickr Creative Commons http://www.flickr.com/photos/76029035@N02/6829510801/
  63. 63. Inadequate reference checks Flickr Creative Commons http://www.flickr.com/photos/76029035@N02/6829454435/
  64. 64. Decision process too long Flickr Creative Commons http://www.flickr.com/photos/76029035@N02/6829506735/
  65. 65. Job offer process too long Flickr Creative Commons http://www.flickr.com/photos/76029035@N02/6829381157/
  66. 66. Priorities for Businesses 1. Attracting talent 2. Retaining talent Priorities for business
  67. 67. Retaining talent
  68. 68. Performance & Pay What else is new?
  69. 69. High EVP satisfaction leads to high performance and retention The Corporate Executive Board Company.CEB Employee Workforce Insights for Singapore 8.7% 33.6% 5.5% 17.6% Low EVP High EVP Low EVP High EVP High Intent to Stay (4x) High Discretionary Effort (3x)
  70. 70. It’s not about the money Flickr Creative Commons http://www.flickr.com/photos/36495803@N05/8463683689/
  71. 71. We hired experienced, talented people and gave them large salaries. But did we retain them? No. Dr. Sun Mingbo President and Chairman of Board Tsingtao Brewery Co. Ltd., China
  72. 72. Training http://www.inc.com/abigail-tracy/onboarding-new-hires-dont-care-about-perks.html
  73. 73. HR needs more levers and dials Flickr Creative Commons http://www.flickr.com/photos/boedker/93511050/
  74. 74. The factors that lead to extreme job satisfaction are separate and distinct from the factors that lead to dissatisfaction
  75. 75. -35% -20% -10% -10% -8% -4% -6% -5% -3% -2% -11% -4% -13% -9% -11% 3% 4% 5% 2% 7% 1% 4% 4% 2% 1% 18% 20% 21% 30% 40% Company Policy and Administration Supervision Relationship with Supervisor Work Conditions Salary Personal Life Relationship with Peers Relationship with Subordinates Status Security Growth and Advancement Responsibility Work Itself Recognition Achievement It’s not about the money One More Time: How Do You Motivate Employees? Frederick Herzberg Harvard Business Review Reprint 87057
  76. 76. Normally we think of satisfaction/dissatisfaction as opposites. But job satisfaction is not the opposite of job dissatisfaction
  77. 77. Motivators One More Time: How Do You Motivate Employees? Frederick Herzberg Harvard Business Review Reprint 87057 -11% -4% -13% -9% -11% 18% 20% 21% 30% 40% Growth and Advancement Responsibility Work Itself Recognition Achievement
  78. 78. Extreme job satisfaction http://office.microsoft.com/en-us/images/results.aspx?qu=joy&ex=1#ai:MP900431739|mt:2| Used with permission of Microsoft
  79. 79. Demotivators One More Time: How Do You Motivate Employees? Frederick Herzberg Harvard Business Review Reprint 87057 -35% -20% -10% -10% -8% 3% 4% 5% 2% 7% Company Policy and Administration Supervision Relationship with Supervisor Work Conditions Salary
  80. 80. Extreme job dissatisfaction http://office.microsoft.com/en-us/images/results.aspx?qu=dispair&ex=1#ai:MP900431223| Used with permission of Microsoft
  81. 81. Neutral factors One More Time: How Do You Motivate Employees? Frederick Herzberg Harvard Business Review Reprint 87057 -4% -6% -5% -3% -2% 1% 4% 4% 2% 1% Personal Life Relationship with Peers Relationship with Subordinates Status Security
  82. 82. Neither satisfied nor dissatisfied http://office.microsoft.com/en-us/images/results.aspx?qu=boring&ex=1#ai:MP900442297|mt:2| Used with permission of Microsoft
  83. 83. What does this mean to HR?
  84. 84. Instead of giving employees raises, bonuses, and promotions...
  85. 85. Remove controls while retaining accountability Used with Permission from Microsoft http://office.microsoft.com/en-us/images/results.aspx?qu=offices#ai:MP900402508|mt:2|
  86. 86. Increase accountability of individuals for their own work Used with Permission from Microsoft http://office.microsoft.com/en-us/images/results.aspx?qu=Asian%20men#ai:MP900442502|mt:2|
  87. 87. Give employees a complete natural unit of work Used with permission from Microsoft http://office.microsoft.com/en-us/images/results.aspx?qu=executives#ai:MP900448494|mt:2|
  88. 88. Grant additional authority and job freedom in their activities Flickr Creative Commons http://www.flickr.com/photos/mishism/5371077178/
  89. 89. Feedback reports directly to workers rather than supervisors Used with Permission from Microsoft http://office.microsoft.com/en-us/images/results.aspx?qu=thinking#ai:MP900430900|mt:2|
  90. 90. Offer new and more difficult tasks not previously handled Used with permission from Microsoft http://office.microsoft.com/en-us/images/results.aspx?qu=thinking&ex=1#ai:MP900422989|mt:2|
  91. 91. Enable individuals to become experts through specialized roles Used with permission from Microsoft http://office.microsoft.com/en-us/images/results.aspx?qu=presentations#ai:MP900427762|
  92. 92. How does HR Compensation and Benefits fit in here?
  93. 93. supervision status security work itself recognitionsalary personal life achievement responsibilitywork conditions relationship with peers growth and advancement relationship with supervisor relationship with subordinates company policy and administration HR Issues?
  94. 94. supervision status security work itself recognitionsalary personal life achievement responsibilitywork conditions relationship with peers growth and advancement relationship with supervisor relationship with subordinates company policy and administration HR Issues?
  95. 95. supervision status security work itself recognitionsalary personal life achievement responsibilitywork conditions relationship with peers growth and advancement relationship with supervisor relationship with subordinates company policy and administration HR Issues?
  96. 96. The motivators and demotivators are not just management issues. They are HR issues.
  97. 97. Empower HR to change the workplace environment http://office.microsoft.com/en-us/images/results.aspx?qu=gestures#ai:MP900431153|mt:2| Used with permission of Microsoft
  98. 98. Flexible work schedules http://www.todayonline.com/singapore/raise-productivity-let-more-employees-work-home
  99. 99. Less emphasis on structure http://www.todayonline.com/singapore/play-important-early-childhood-education-heng-swee-keat
  100. 100. More emphasis on creativity http://news.insing.com/feature/creativity-must-be-a-national-priority-nmp-janice-koh/id-f83b3101
  101. 101. Performance & Development Who is a talent?
  102. 102. Reframe the discussion on talent http://office.microsoft.com/en-us/images/results.aspx?qu=gestures#ai:MP900407401|mt:2| Used with permission of Microsoft
  103. 103. Weak managers hire skills http://office.microsoft.com/en-us/images/results.aspx?qu=bosses#ai:MP900448685|mt:2| Used with permission of Microsoft
  104. 104. Strong managers hire talent and teach specific skills http://office.microsoft.com/en-us/images/results.aspx?qu=professionals#ai:MP900422122|mt:2| Used with permission of Microsoft
  105. 105. To avoid talent shortages, hire talented managers http://office.microsoft.com/en-us/images/results.aspx?qu=motivations#ai:MP900435893|mt:2| Used with permission of Microsoft
  106. 106. Apprenticeship and mentoring Used with permission from Microsoft http://office.microsoft.com/en-us/images/results.aspx?qu=teach&ex=1#ai:MP900427658|mt:2|
  107. 107. Technology undermines search and retention of talent Logos are trademarks of their respective companies
  108. 108. Application Tracking Systems Flickr Creative Commons http://www.flickr.com/photos/enerva/9153746729/
  109. 109. HR is becoming database admins Flickr Creative Commons http://www.flickr.com/photos/hunter0405/6396994487/
  110. 110. Successful candidates from job boards 1.3% 1.2%
  111. 111. Screening out the best talent? https://twitter.com/brianacton/status/3109544383
  112. 112. How to retain innovators? http://www.forbes.com/sites/johnkotter/2013/08/21/googles-best-new-innovation-rules-around-20-time/
  113. 113. From HR Programs to Reality What makes the difference?
  114. 114. We decided to start over. We had struggled for so long to improve HR’s effectiveness in Asia, business leaders just got fed up. We brought in a whole new HR leadership team to turn things around. But honestly, two years later, not much has changed. Global Chief HR Officer Manufacturing Company
  115. 115. Destined to Fail? Flickr Creative Commons http://www.flickr.com/photos/fdecomite/388303700/
  116. 116. 70% of all change initiatives fail Cracking the Code of Change by Michael Beer and Nitin Nohria http://hbr.org/2000/05/cracking-the-code-of-change/ar/1 Failure 70%
  117. 117. Less that 1/3 of business executives think that Asia HR is creating value Transforming Asia HR's Enterprise Impact http://www.executiveboard.com/exbd/en-sg/human-resources/asia-hr-leadership/Asia-HR-Enterprise-Impact/index.page Create Value 31%
  118. 118. We implemented [HRIS software] last year. We spent a fortune on it, and it’s practically worthless. It literally must be the most expensive filing cabinet ever purchased. SVP HR, North Asia Global
  119. 119. Why do initiatives fail? Failure Causes Statistics http://www.it-cortex.com/Stat_Failure_Cause.htm 11% 12% 13% 17% 20% 26% 29% 34% 35% 39% 57% Insufficent measurable outputs Supplier under-resourced Supplier skills outstretched Overall poor management Mismanagement of progress Cost overruns Inadequate coordination Milestones not met No quality control Lack of planning Bad communication
  120. 120. Our Head of HR was fired . . . After three years of focus groups and analysis, they basically told us what we already knew. We had nothing to show for the investment. VP of HR, International Financial Services Company
  121. 121. HR shift from service provider to enterprise enabler Old Role: Service Provider HR Focus Focusing on driving HR outcomes Improve HR Activities Providing more HR support and services for higher line satisfaction Skill Development Being more “strategic” through improved HR-line partnerships New Role: Enterprise Enabler Enterprise Focus Focus on HR’s role in building enterprise capabilities. Redefine HR Service Effectiveness Rethink the way HR services create business value Functional Behaviour Change Equipping the team to make transformational shifts in day-to-day behaviours and work Transforming Asia HR's Enterprise Impact http://www.executiveboard.com/exbd/en-sg/human-resources/asia-hr-leadership/Asia-HR-Enterprise-Impact/index.page
  122. 122. Barriers to transformation Flickr Creative Commons http://www.flickr.com/photos/rob-young/2954535776/
  123. 123. How to get past key barriers Transforming Asia HR's Enterprise Impact http://www.executiveboard.com/exbd/en-sg/human-resources/asia-hr-leadership/Asia-HR-Enterprise-Impact/index.page • How can Asia HR reposition itself to drive enterprise capabilities? Asia HR is too focused on HR or financial outcomes • How can Asia HR’s services help accelerate organizational competitiveness and growth across time? Asia HR improvement efforts typically target incremental operational improvements or HR activities • How can Asia HR executives re- orient staff to enable their enterprises? Asia HR staff apply an HR administrator or operators mindset to their roles
  124. 124. Why change?
  125. 125. Upgrading HR to C-Suite Used with Permission of Microsoft http://office.microsoft.com/en-us/images/results.aspx?qu=meetings&ex=1#ai:MP900422638|
  126. 126. Empower HR to change the workplace environment http://office.microsoft.com/en-us/images/results.aspx?qu=gestures#ai:MP900431153|mt:2| Used with permission of Microsoft
  127. 127. The question isn’t who’s going to let me? Its who’s going to stop me? Paraphrasing Howard Roark Ayn Rand The Fountainhead
  128. 128. Asia’s Increased Competitive Landscape HR Implications on Talent Acquisition and Retention http://www.flickr.com/photos/jorgecancela/8009593783/ Flickr Creative Commons
  129. 129. Ask The Headhunter • The Talent Shortage Myth and Why HR Should Get Out of the Hiring Business http://www.pbs.org/newshour/making-sense/ask-the-headhunter-the-talent/ • Top Ten Stupid Hiring Mistakes http://www.asktheheadhunter.com/hatenmistakes1.htm http://www.asktheheadhunter.com/hatenmistakes2.htm • Talent Shortage http://www.asktheheadhunter.com/hatalentshortage1.htm http://www.asktheheadhunter.com/hatalentshortage2.htm CNN Money / Fortune • World's biggest companies: Still xenophobic, after all these years http://management.fortune.cnn.com/2013/06/24/leadership-diversity- multinationals/ Corporate Executive Board Co. • 5 Key Asia HR Trends Heading into 2014 http://www.executiveboard.com/blogs/5-key-asia-hr-trends-heading-into-2014/ • Employee Workforce Insights for Singapore - Engagement and Retention of Talent in Singapore http://news.executiveboard.com/global-workforce-insights • China: The Death of the Western Employer Brand Premium http://www.executiveboard.com/blogs/china-the-death-of-the-western- employer-brand-premium/ • Transforming Asia HR's Enterprise Impact http://www.executiveboard.com/exbd/en-sg/human-resources/asia-hr- leadership/Asia-HR-Enterprise-Impact/index.page Source Acknowledgements Flickr Creative Commons Images • Images used under Creative Commons license http://www.flickr.com/creativecommons/ Forbes • Google's Best New Innovation: Rules Around '20% Time' http://www.forbes.com/sites/johnkotter/2013/08/21/googles-best-new- innovation-rules-around-20-time/ Harvard Business Review • One More Time: How Do You Motivate Employees? http://hbr.org/2003/01/one-more-time-how-do-you-motivate-employees/ar/1 • Cracking the Code of Change http://hbr.org/2000/05/cracking-the-code-of-change/ar/1 HR Boss Blog • HR Trends 2014 in Asia http://hrboss.com/blog/hr-trends-2014-asia Inc. • Offer Your New Hires Training, Not Free Doughnuts http://www.inc.com/abigail-tracy/onboarding-new-hires-dont-care-about- perks.html?cid=em01011week12day19b InSing.com • Creativity must be a national priority: NMP Janice Koh http://news.insing.com/feature/creativity-must-be-a-national-priority-nmp- janice-koh/id-f83b3101
  130. 130. IT Cortex • Failure Causes Statistics http://www.it-cortex.com/Stat_Failure_Cause.htm Microsoft Office Online Images • Images from Microsoft Office Online are used with permission from Microsoft; no rights to further license or distribute the media elements http://office.microsoft.com/en-us/images/ PricewaterhouseCoopers Saratoga • Breaking out of the talent spiral – Key human capital trends in Asia-Pacific http://www.pwc.com/saratoga Stomp • Anton Casey furore http://singaporeseen.stomp.com.sg/singaporeseen/this-urban-jungle/anton- casey-furore-his-employers-currently-investigating-the-comments-and-will Straits Times • Singapore most expensive city in the world http://www.straitstimes.com/breaking-news/money/story/singapore-most- expensive-city-the-world-study-20140304 Source Acknowledgements Today Paper • ‘Play’ important in early childhood education: Heng Swee Keat http://www.todayonline.com/singapore/play-important-early-childhood- education-heng-swee-keat • More locals hired last year as growth in foreign employment slows http://www.todayonline.com/singapore/more-locals-hired-last-year-growth- foreign-employment-slows • To raise productivity, let more employees work from home http://www.todayonline.com/singapore/raise-productivity-let-more-employees- work-home Twitter • Brian Acton @brianacton https://twitter.com/brianacton/status/3109544383 Wikipedia • List of public corporations by market capitalization As of December 31, 2013 http://en.wikipedia.org/wiki/List_of_corporations_by_market_capitalization Other Sources • Corporate logos are property of their respective companies. • All other sources and images are acknowledged where they appear.
  131. 131. Eric Pesik Eric Pesik is a frequent speaker on legal and compliance matters and has taught law school and business school in the USA and Singapore. Background Mr. Pesik is currently the Associate General Counsel and Compliance Officer for Seagate Singapore International Headquarters Pte Ltd. He has been a lawyer since 1997 and is a member of the State Bar of California, USA. He is also admitted to the US Court of International Trade in New York and the US Supreme Court in Washington, DC. Disclaimer This work represents the opinions of the author alone, and is not the opinion his employer. Other Presentations Many of Mr. Pesik’s presentations are available on SlideShare at: http://www.slideshare.net/ericpesik Creative Commons Attribution License You are free to share, copy, distribute, and transmit this work; to remix or adapt this work; and to make commercial use of this work, under the condition that you must attribute this work to me (but not in any way that suggests that I endorse you or your use of this work). Each slide contains source attributions and URL; before reusing, you must obtain the original images from the original sources, and you must comply with any applicable license restrictions imposed by the original source. http://creativecommons.org/licenses/by/3.0/ About the Author

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