BioEconomy: Managing Talent and Human Capital

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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 problems

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BioEconomy: Managing Talent and Human Capital

  1. 1. HUMAN CAPITAL TOPIC -DEVELOPING A WORKFORCE TOSUSTAIN THE GROWINGBIOECONOMYCase Study, Concepts and Debatable IdeasKenny OngTakaful IKHLAS Sdn Bhd
  2. 2. 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
  3. 3. Menu1. Business Model and Human Capital2. Talent War – attraction & retention3. Human Capital Development
  4. 4. The McPlaybook* Make it easy to eat Make it easy to prepare • 50% drive-thru • High Turnover • Meals held in one • Tasks simple to learn hand & repeat Make it quick Make what customers want • “Fast Food” • Prowls market for new • Tests new products products for Cooking Times • Monitored field tests*Adapted from: Businessweek , Februrary 5th 2007
  5. 5. Alignment: 4-Wheels Model Business PersonStructure Model Strategy Culture Leadership Resources
  6. 6. Business ModelThe Business of business is business, not Employee Engagement
  7. 7. What is the Business Model?•Google•Tata Nano USP Market Profit Model Discipline
  8. 8. Market Discipline • Features, "They are the most innovative" Product Leadership Benefits "Constantly renewing and creative" • Limited "Always on the leading edge" Range Customer Operational Intimacy Excellence "Exactly what I need""A great deal!" Customized products Excellent/attractive price Minimal acquisition cost and • Solutions Personalized communications "Theyre very responsive" hassle • Preferential service and Customization • Cost Lowest overall cost of • Breadth & flexibility • Convenience ownership Depth Recommends what I need • firm""A no-hassles TCO "Im very loyal to them" Convenience and speed Helps us to be a success Reliable product and service
  9. 9. Market Discipline Product "They are the most innovative" •LV Leadership "Constantly renewing and creative" "Always on the leading edge"•Air Asia Operational •Ramly Customer Intimacy Excellence "Exactly what I need""A great deal!" Customized products Excellent/attractive price Personalized communications Minimal acquisition cost and "Theyre very responsive" hassle Preferential service and Lowest overall cost of flexibility ownership Recommends what I need"A no-hassles firm" "Im very loyal to them" Convenience and speed Helps us to be a success Reliable product and service
  10. 10. Alignment & Consistency: Market Disciplines Product Leadership (best product) Operational Excellence Customer Intimacy (low cost producer) (best total solution)Ref: The Discipline of Market Leaders, Michael Treacy & Fred Wiersema; 1995
  11. 11. Strategy: Market Disciplines Product Leadership (best product) Operational Excellence Customer Intimacy (low cost producer) (best total solution)Ref: The Discipline of Market Leaders, Michael Treacy & Fred Wiersema; 1995
  12. 12. Strategy: Market Disciplines Product Leadership Apple powerful (best product) products, premium pricing, limited range Still Doing well in Acer super lean 2009- HP well-balanced cost structure, 2011 portfolio, mass aggressive pricing customization Operational Excellence Customer Intimacy (low cost producer) (best total solution)Ref: The Discipline of Market Leaders, Michael Treacy & Fred Wiersema; 1995
  13. 13. Strategy: Market DisciplinesOperational Product Leadership Customer Intimacy Excellence • New, state of the • Management by• Competitive price art products or Fact services• Error free, reliable • Easy to do • Risk takers business with• Fast (on demand) • Meet volatile • Have it your way• Simple customer needs (customization)• Responsive • Fast concept-to- • Market segments• Consistent counter of one information for all • Never satisfied - • Proactive, flexible• Transactional obsolete own and • Relationship and competitors• Once and Done consultative products selling • Learning • Cross selling organization
  14. 14. Business Model vs. Talent & Performance ManagementOrganization, jobs,skillsCulture, values,norms Operational Product Customer Excellence Leadership IntimacyInformation andsystemsManagementsystems
  15. 15. Business Model vs. Talent & Performance Management Operational ExcellenceOrganization, •Central authority, low level of empowermentjobs, skills •High skills at the core of the organizationCulture, values, •Disciplined Teamworknorms •Process, product- driven •Conformance, one size fits all mindsetInformation and •Integrated, low cost transaction systemssystems •The system is the processManagement •Command and controlsystems •Quality management
  16. 16. Business Model vs. Talent & Performance Management Product LeadershipOrganization, jobs, •Ad hoc, organic and cellularskills •High skills abound in loose-knit structuresCulture, values, •Concept, future-drivennorms •Experimentation and out of the box mindsetInformation and •Person-to-person communications systemssystems •Technologies enabling cooperationManagement •Rewarding individuals innovative capacitysystems •Risk and exposure management •Product Life Cycle profitability
  17. 17. Business Model vs. Talent & Performance Management Customer IntimacyOrganization, jobs, •Empowerment close to point of customer contactskills •High skills in the field and front-lineCulture, values, •Customer-drivennorms •Variation and have it your way mindsetInformation and •Strong customer databases, linking internal andsystems external information •Strong analytical toolsManagement •Customer equity measures like life time valuesystems •Satisfaction and share management •Focus on ‘Share of Wallet’
  18. 18. Background to:BIOECONOMY & HUMANCAPITAL
  19. 19. BioEconomy: Critical Job Families1. Operate Plants2. Design value-added products and services3. Production, Cultivation and Harvesting4. Use and recycling of products Shortage5. Agriculture, forestry, food, chemical, pharmaceutical, energy6. Consulting and Legal services7. Planning, Operations, Maintenance
  20. 20. BioEconomy: Critical Skill Sets1. Technical Expertise**2. Entrepreneurial Skills3. Communication (inter- disciplinary, multi nationalities) Shortage4. Problem Solving (production issues)5. Critical Thinking (analysis, risks)
  21. 21. **Technical Expertise for BioEconomyBio IT• Biotech • General Software (Office)• Processing of bio-based • Quantitative & Statistical products • Information Systems• Biomass production • ERP, SCM• Environmental• Energy, fuels
  22. 22. High-Level Solutions MSC-like eco-system -> BioNexus Education BioTalent Corp HR Exchange
  23. 23. High-Level Solutions: Education Sector- Incorporate IT ↑ Writing &Academia Skills in Course PresentationsPartnership Assignments Memory vs.“Hands-On” Advisory Board Critical Teaching Thinking
  24. 24. High-Level Solutions: BioTalent Corp Best Practices Out-Expats KDC FStep reach
  25. 25. Attraction & RetentionTHE TALENT WARS
  26. 26. Branding and Positioning:“You don’t attract who you want. You attract who you are” John Maxwell
  27. 27. What needs work? High Fun place to work Training For people like me OpportunitiesTarget Segment Importance to Attractive Location Familiarity with Tasks Innovative company Career Opportunities Expected success of application High Salary Low Weak Strong Current Brand
  28. 28. What needs work? High Fun place to work Training For people like me OpportunitiesTarget Segment Importance to Attractive Location Familiarity with Tasks Innovative company Career Opportunities Expected success of application High Salary Low Weak Strong Current Brand
  29. 29. Retention RetentionExperience Swing Ex Oppose
  30. 30. Retention 1: ExperienceLoyalty = Experience vs. Expectations Solution Strategy: Brand Experience, Positioning, Career
  31. 31. Loyalty 2: SwingLoyalty = 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
  32. 32. Loyalty 2: SwingSwing 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
  33. 33. Post-Recession RetentionExperience Swing Ex Oppose Post-Recession
  34. 34. Swing Loyalty: Try Your Best…1. Over Promote 9. “Position” the2. Loans competition3. Spot Bonuses 10.Sell the Dream4. Block recruiters 11.Give them a Best5. The Spouse Friend6. Toys 12.Internal Trainer7. Glorified Titles8. Forced Ambassador
  35. 35. Talent Scarcity and Brain- Drain Problem1. Change your Business2. Change your Business Model3. Re-locate4. In-Source5. JV or Partnership or Swap6. Create micro Business Units7. Over Promote8. Over Pay9. Contractual tie-up10. Hire Low, Train High
  36. 36. End NotesThe end of the Beginning
  37. 37. 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
  38. 38. 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
  39. 39. Popularly Unpopular Popularity ≠ Affection
  40. 40. Thank You. soft copy of slides:http://totallyunrelatedrandomanddebatable. blogspot.com/

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