Of Attraction and Retention

This is what I got today by reading this book - The BUDGET - How the Government is Spending Our Money by Teh Chi-Chang.

The Top 10 Employers in Malaysia for 2009:

1. The Ritz-Carlton, KL
2. American Express (M) Sdb Bhd
3. Four Seasons Resort Langkawi
4. Federal Express Services (M) Sdn Bhd
5. Agilent Technologies
6. SP Setia Berhad
7. Hilton KL
8. Intel Technology Sdn Bhd
9. Golden Arches Restaurants Sdn Bhd
10. Telekom Malaysia Bhd

 Of the top 10 above, only 2 companies are home-grown - SP Setia and Telekom. Malaysian companies are in general have far more to do to improve in the areas of attracting and retaining their talents.

 

Today, in Business Times, it again has confirmed the fact that we are really very far from achieving that "developed" country status. You can tell from Hewitt's study of companies, still very far. To negotiate, communicate, influence and persuade others are not easy mate!

 

Happy, inspired workers will boost bottom line

 

For each employee it hires who show leadership potential, the company sends a personal letter to the parents, thanking them for having groomed such talent for the company.

This is the practice of China Mobile Communications Group Shanghai Co Ltd, which ranked second on the list of Asia Pacific Top Companies for Leaders 2009.

 

Global human resource consultancy Hewitt Associates found that top companies in leadership practice viewed high potential talent as a strategic asset; treated leadership as a business strategy; and saw talent development as a mission-critical business process.

 

At these companies, leaders were actively involved in coaching and mentoring, and were measured by outcomes.

 

In recent years, Malaysia's profit-driven private sector has also begun to give more attention to its employees.

Rather than seeing the workers as labour or input, more companies are now acknowledging the role of their workforce in delivering results. The functions of the human resource (HR) department have gone beyond just recruitment and training, and HR has become part of a company's business strategy.

 

Companies are now rated based on their financial performance and how well their HR programmes drive the bottom line.

A company's brand or reputation is also seen from how well it attracts and retains talent.

 

In an organisation, leadership and workforce are intertwined. Without one or the other, the company cannot achieve its goals, let alone conduct business activities effectively.

 

Most companies have excellent plans, programmes, targets and key performance indicators (KPIs) on paper, but only those with good leaders are most likely to successfully execute the plans and, thus, achieve the targets.

 

In its excitement with the newly drawn KPIs or brand strategy, the senior management might neglect to ensure that leaders at every level of the company, including union leaders, communicate the strategy and objectives to each and every employee.

 

It is unfortunate if the zealousness of the management to meet the targets results in middle managers imposing near-impossible deadlines and targets on the employees.

 

If this happens, the KPIs or brand objectives will not only be out of reach by failing to attract wholehearted support from the staff, but resentment could develop in the employees, who may feel alienated from the management and its aims. Companies have been known to lose their best employees for such reasons.

 

Competent leaders should be able to negotiate, communicate, influence and persuade others, and, at the same time, be diplomatic in dealing with diverse human resources with different values, opinions, attitudes, beliefs, work habits, goals, ambitions and dreams.

 

Today, some Malaysian companies are rated highly for their HR programmes, while many still have a long way to go in establishing themselves as the employers of choice.

 

According to Hewitt Associates' survey, the best employers in Malaysia do not necessarily pay high salaries to their workers.

 

While the pay is in line with market rate, employees in these companies are inspired by their leaders and feel respected within the organisations. This makes them stay on, in tune with company objectives, and voluntarily go the extra mile to support their employers in achieving business success.