bioeconomy: managing talent and human capital

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HUMAN CAPITAL TOPIC - DEVELOPING A WORKFORCE TO SUSTAIN THE GROWING BIOECONOMY Case Study, Concepts and Debatable Ideas Kenny Ong Takaful IKHLAS Sdn Bhd

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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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Page 1: BioEconomy: Managing Talent and Human Capital

HUMAN CAPITAL TOPIC - DEVELOPING A WORKFORCE TO SUSTAIN THE GROWING BIOECONOMY Case Study, Concepts and Debatable Ideas

Kenny Ong

Takaful IKHLAS Sdn Bhd

Page 2: BioEconomy: Managing Talent and Human Capital

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

Page 3: BioEconomy: Managing Talent and Human Capital

Menu

1. Business Model and Human Capital

2. Talent War – attraction & retention

3. Human Capital Development

Page 4: BioEconomy: Managing Talent and Human Capital
Page 5: BioEconomy: Managing Talent and Human Capital
Page 6: BioEconomy: Managing Talent and Human Capital
Page 7: BioEconomy: Managing Talent and Human Capital

The McPlaybook*

Make it easy to eat

• 50% drive-thru

• Meals held in one

hand

Make it easy to prepare

• High Turnover

• Tasks simple to learn

& repeat

Make it quick

• “Fast Food”

• Tests new products

for Cooking Times

Make what customers want

• Prowls market for new

products

• Monitored field tests

*Adapted from: Businessweek , Februrary 5th 2007

Page 8: BioEconomy: Managing Talent and Human Capital

Alignment: 4-Wheels Model

Culture

Business

Model Strategy

Structure Person

Leadership

Resources

Page 9: BioEconomy: Managing Talent and Human Capital

Business Model

The Business of business is business,

not Employee Engagement

Page 10: BioEconomy: Managing Talent and Human Capital

What is the Business

Model?

USP

Market

Discipline Profit Model

•Google

•Tata Nano

Page 11: BioEconomy: Managing Talent and Human Capital

Market Discipline

"They are the most innovative"

"Constantly renewing and creative"

"Always on the leading edge"

"A great deal!"

Excellent/attractive price

Minimal acquisition cost and hassle

Lowest overall cost of ownership

"A no-hassles firm"

Convenience and speed

Reliable product and service

"Exactly what I need"

Customized products

Personalized communications

"They're very responsive"

Preferential service and

flexibility

Recommends what I need

"I'm very loyal to them"

Helps us to be a success

Product Leadership

Operational Excellence

Customer Intimacy

• Cost

• Convenience

• TCO

• Features,

Benefits

• Limited

Range

• Solutions

• Customization

• Breadth &

Depth

Page 12: BioEconomy: Managing Talent and Human Capital

Market Discipline

"They are the most innovative"

"Constantly renewing and creative"

"Always on the leading edge"

"A great deal!"

Excellent/attractive price

Minimal acquisition cost and hassle

Lowest overall cost of ownership

"A no-hassles firm"

Convenience and speed

Reliable product and service

"Exactly what I need"

Customized products

Personalized communications

"They're very responsive"

Preferential service and

flexibility

Recommends what I need

"I'm very loyal to them"

Helps us to be a success

Product Leadership

Operational Excellence

Customer Intimacy •Air Asia

•LV

•Ramly

Page 13: BioEconomy: Managing Talent and Human Capital

Operational Excellence

(low cost producer)

Ref: The Discipline of Market Leaders, Michael Treacy & Fred Wiersema; 1995

Product Leadership

(best product)

Customer Intimacy

(best total solution)

Alignment & Consistency:

Market Disciplines

Page 14: BioEconomy: Managing Talent and Human Capital

Operational Excellence

(low cost producer)

Ref: The Discipline of Market Leaders, Michael Treacy & Fred Wiersema; 1995

Product Leadership

(best product)

Customer Intimacy

(best total solution)

Strategy: Market Disciplines

Page 15: BioEconomy: Managing Talent and Human Capital

Operational Excellence

(low cost producer)

Ref: The Discipline of Market Leaders, Michael Treacy & Fred Wiersema; 1995

Product Leadership

(best product)

Customer Intimacy

(best total solution)

Strategy: Market Disciplines

HP well-balanced

portfolio, mass

customization

Acer super lean

cost structure,

aggressive pricing

Apple powerful

products, premium

pricing, limited range

Still Doing

well in

2009-

2011

Page 16: BioEconomy: Managing Talent and Human Capital

Operational

Excellence

• Competitive price

• Error free, reliable

• Fast (on demand)

• Simple

• Responsive

• Consistent

information for all

• Transactional

• 'Once and Done'

Customer Intimacy

• Management by

Fact

• Easy to do

business with

• Have it your way

(customization)

• Market segments

of one

• Proactive, flexible

• Relationship and

consultative

selling

• Cross selling

Product Leadership

• New, state of the

art products or

services

• Risk takers

• Meet volatile

customer needs

• Fast concept-to-

counter

• Never satisfied -

obsolete own and

competitors'

products

• Learning

organization

Strategy: Market Disciplines

Page 17: BioEconomy: Managing Talent and Human Capital

Operational

Excellence

Customer

Intimacy

Product

Leadership

Organization, jobs, skills

Management systems

Information and systems

Culture, values, norms

Business Model vs. Talent &

Performance Management

Page 18: BioEconomy: Managing Talent and Human Capital

Operational Excellence

•Central authority, low level of empowerment

•High skills at the core of the organization

•Disciplined Teamwork

•Process, product- driven

•Conformance, 'one size fits all' mindset

• Integrated, low cost transaction systems

•The system is the process

•Command and control

•Quality management

Organization, jobs, skills

Management systems

Information and systems

Culture, values, norms

Business Model vs. Talent &

Performance Management

Page 19: BioEconomy: Managing Talent and Human Capital

Organization, jobs, skills

Management systems

Information and systems

Culture, values, norms

Product Leadership •Ad hoc, organic and cellular •High skills abound in loose-knit structures •Concept, future-driven •Experimentation and 'out of the box' mindset •Person-to-person communications systems •Technologies enabling cooperation •Rewarding individuals' innovative capacity •Risk and exposure management •Product Life Cycle profitability

Business Model vs. Talent &

Performance Management

Page 20: BioEconomy: Managing Talent and Human Capital

Organization, jobs, skills

Management systems

Information and systems

Culture, values, norms

Customer Intimacy

•Empowerment close to point of customer contact

•High skills in the field and front-line

•Customer-driven

•Variation and 'have it your way' mindset

•Strong customer databases, linking internal and

external information

•Strong analytical tools

•Customer equity measures like life time value

•Satisfaction and share management

•Focus on ‘Share of Wallet’

Business Model vs. Talent &

Performance Management

Page 21: BioEconomy: Managing Talent and Human Capital

BIOECONOMY & HUMAN

CAPITAL

Background to:

Page 22: BioEconomy: Managing Talent and Human Capital

BioEconomy: Critical Job Families

1. Operate Plants

2. Design value-added products

and services

3. Production, Cultivation and

Harvesting

4. Use and recycling of products

5. Agriculture, forestry, food,

chemical, pharmaceutical, energy

6. Consulting and Legal services

7. Planning, Operations,

Maintenance

Shortage

Page 23: BioEconomy: Managing Talent and Human Capital

BioEconomy: Critical Skill Sets

1. Technical Expertise**

2. Entrepreneurial Skills

3. Communication (inter-

disciplinary, multi

nationalities)

4. Problem Solving (production

issues)

5. Critical Thinking (analysis,

risks)

Shortage

Page 24: BioEconomy: Managing Talent and Human Capital

**Technical Expertise for

BioEconomy

Bio

• Biotech

• Processing of bio-based

products

• Biomass production

• Environmental

• Energy, fuels

IT

• General Software (Office)

• Quantitative & Statistical

• Information Systems

• ERP, SCM

Page 25: BioEconomy: Managing Talent and Human Capital

High-Level Solutions

MSC-like eco-system -> BioNexus

Education

BioTalent Corp

HR Exchange

Page 26: BioEconomy: Managing Talent and Human Capital

High-Level Solutions:

Education

Sector-Academia

Partnership

↑ Writing & Presentations

Incorporate IT Skills in Course

Assignments

“Hands-On” Teaching

Advisory Board Memory vs.

Critical Thinking

Page 27: BioEconomy: Managing Talent and Human Capital

High-Level Solutions:

BioTalent Corp

Best Practices

Expats KDC FStep Out-reach

Page 28: BioEconomy: Managing Talent and Human Capital

THE TALENT WARS

Attraction & Retention

Page 29: BioEconomy: Managing Talent and Human Capital

Branding and Positioning:

“You don’t attract who you want.

You attract who you are” John Maxwell

Page 30: BioEconomy: Managing Talent and Human Capital

What needs work?

Current Brand

Import

ance to

Ta

rge

t S

eg

me

nt

High

Low

Weak Strong

High Salary

Career

Opportunities

Familiarity

with Tasks

Training

Opportunities

Attractive Location

For people like me

Fun place to work

Expected

success of

application

Innovative

company

Page 31: BioEconomy: Managing Talent and Human Capital

What needs work?

Current Brand

Import

ance to

Ta

rge

t S

eg

me

nt

High

Low

Weak Strong

High Salary

Career

Opportunities

Familiarity

with Tasks

Training

Opportunities

Attractive Location

For people like me

Fun place to work

Expected

success of

application

Innovative

company

Page 32: BioEconomy: Managing Talent and Human Capital

Retention

Retention

Experience Swing Ex

Oppose

Page 33: BioEconomy: Managing Talent and Human Capital

Retention 1: Experience

Loyalty = Experience vs. Expectations

Solution Strategy: Brand

Experience, Positioning, Career

Page 34: BioEconomy: Managing Talent and Human Capital

Loyalty 2: Swing

Loyalty = 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

Page 35: BioEconomy: Managing Talent and Human Capital

Loyalty 2: Swing

Swing 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

Page 36: BioEconomy: Managing Talent and Human Capital

Post-Recession

Retention

Experience Swing Ex

Oppose

Post-Recession

Page 37: BioEconomy: Managing Talent and Human Capital

Swing Loyalty: Try Your

Best…

1. Over Promote

2. Loans

3. Spot Bonuses

4. Block recruiters

5. The Spouse

6. Toys

7. Glorified Titles

8. Forced Ambassador

9. “Position” the

competition

10.Sell the Dream

11.Give them a Best

Friend

12.Internal Trainer

Page 38: BioEconomy: Managing Talent and Human Capital

Talent Scarcity and Brain-

Drain Problem

1. Change your Business

2. Change your Business Model

3. Re-locate

4. In-Source

5. JV or Partnership or Swap

6. Create micro Business Units

7. Over Promote

8. Over Pay

9. Contractual tie-up

10. Hire Low, Train High

Page 39: BioEconomy: Managing Talent and Human Capital

End Notes

The end of the Beginning

Page 40: BioEconomy: Managing Talent and Human Capital

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

Page 41: BioEconomy: Managing Talent and Human Capital

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

Page 42: BioEconomy: Managing Talent and Human Capital

Popularly Unpopular

Popularity

Affection

Page 43: BioEconomy: Managing Talent and Human Capital
Page 44: BioEconomy: Managing Talent and Human Capital

Thank You.

soft copy of slides: http://totallyunrelatedrandomanddebatable.

blogspot.com/