UNDERSTANDING THE UNDERSTANDING THE NEW WORKPLACENEW WORKPLACE

Recognizing and Recognizing and Rewarding employees Rewarding employees

AGENDAAGENDA1.1. Objectives-1 slideObjectives-1 slide2.2. Findings -6 sl idesFindings -6 sl ides3.3. Business casesBusiness cases -5 sl ides- -5 sl ides- Mr HaiMr Hai4.4. Results-Results- 2 slides – Mr Hai2 slides – Mr Hai5.5. Recommendations-Recommendations- 4 4 slides (Lanh + Khuong)slides (Lanh + Khuong)6.6. References-1 sl ideReferences-1 sl ide

ObjectivesObjectives

To understand new work environment To manage the new entrants into the workforce To manage cultural orientation To structure workplaces To recognize work and reward

The new work environment- Work place practice is changing: mergers and acquisitions.- Corporate down size the employees - few people have to perform more – increase profitability.- Changing incentive plan – no longer base on short term schemes.- Reward and recognition do influence worker’s attitude to productivity and organizational competitiveness.-Introduction of technology and its adaptation by the organization and employees.- The challenge for traditional employees from the new age “free agent”

New entrants into workforce - Changes in male and female labor forces - Former welfare recipients seek full time employment with skill to meet entry level requirement. - Unsatisfied employees were not happy with their income comparison with minimum federal income standards.- Satisfied employees fell productive and worthwhile despite of their low income.- Fresh graduates

New entrants into workforce (cont.) - Immigrants placed important parts in workforce as its various cultures, value, ethnic traditions with fresh ideas, new desires.

Cultural orientation- Impact of media on future workforce.- Young people are not happy about their welfare whereas parents, faculty and society spent little time to develop meaningful relationship.- Working pressure leads to negative behaviors on workforces.- Challenges for managers to operate the organization in difficult situation.

Structures of workplaces- Traditional organization were serve structure, hierarchies.- Traditional organization transformed into team based systems (– timely and fast response, …)- Organizational structure depends on their goals, purposes and processes.- The main goal is to set up order and systematic pathways, to achieve desired outcomes.- The best structure is to match the needs of marketplace with company system.

Recognizing and rewarding

- Listening to employees

Refer only Refer only How to How to implement Incentive plansimplement Incentive plans

Link the incentive with your strategy Make sure effort and reward are related Set effective, measurable standards View the standard as a contract with your

employee Gain employees’ support for the plan Emphasize long-term as well as short-term

success Build a positive corporate culture Adopt a commitment-oriented approach

Case Study: Haison Company

Background: Haison was found in 2000 as a private

company in Vietnam by Pham Duc Hai Proving Industrial Solutions for industrial

plants in Oil and Gas, Power, Petrochemical and Process Industries

Doing projects and distribute products

HR Issues and Solutions

To attract talents in this hi-tech industry is quite tough job as Haison do not have “Big Brandname” like MNCs in the industry, e.g. ABB, Siemens, Honeywell

Solution: We have to train fresh engineers and also send them to overseas to learn from our partners

HR Issues and Solutions (continued) To retain talents is another challenging

job as those fresh engineers advanced, they will start looking for more opportunities in big MNCs, who could give higher compensation package and also “reputation” whether real or perceived ones…

Solution: Apply a new HR R&R system

What is the HR R&R system?

We implement the compensation system based on performance as well as efforts.

For sales people, the income is a mix of basic salary and sales commission

For staff, we give an indirect annual bonus based on the performance of the whole company (measured by EBIT)

But still more issues unsolved!

Senior employees need more job enhancement opportunities…

At the same time, they are not very keen on implementing changes that may bring the opportunities to them because of their fear of job insecurity.

Solution: need to find change agents…

Results

By applying HR R&R practices, we have been able to attract talents and retain our people, foster loyalty with company

Teamwork is now become our culture and the performance evaluation is not only based on individual success but also on the overall achievement of company

Results (continued)

We still need to find a better system to enrich the job satisfactions of our employees by job rotation, enlargement

We are building a system that establish and track a career path for our staff and a succession plan for the company

Facilitate cross functions communication and team building activities in Haison