The Better Approach to Succession Planning - MITBA CEO Conference 2011
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Malaysian Insurance and Takaful Broker Associations (MITBA) CEO Conference 2011 Bali, October 2011 - Different Succession Planning objectives and motives - Why Succession Planning don't work in many cases - Matching your Succession Plan to your Business Model - Practical aspects of Succession Planning - Managing youe Talents Pipeline with proper Performance Management tools
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The Better Approach to Succession Planning - MITBA CEO Conference 2011
- 1. THE BETTER APPROACH TO SUCCESSSION PLANNING Case Study, Concepts and Debatable Ideas Kenny Ong Takaful Ikhlas Sdn Bhd
- 5. Inflation = 7.4% p.a. Inflation = 19.86% p.a. TISB Medical Cost Management
- 6. 100% RENEWED WITH US SINCE 2009/2010
- 7. INTRODUCTION TO SUCCESSION PLANNING
- 10. Assumption 2
- 11. Assumption 2
- 12. Philosophy Ultimate Objective of Marketing: “ Get more people, to buy more things, more frequently, at higher prices.” Sergio Zyman “ Retention and Loyalty are useless if No Conversion is happening.”
- 13. Philosophy “ Retention and Loyalty are useless if No Conversion is happening.” “ Retention and Loyalty are useless if No Performance is happening.”
- 18. What’s your SP goal? Business Continuity
- 22. The Better Approach Business Strategy OJT, Mentoring, Big-5, LP, PDP, SDP, Projects, P/P Grid, SP Table, PDP, Premium, Q12, C&B, ACDP, SCL, Transfers, Events P/P Grid, Q12, PA, SDP, SP Selection Development Motivation Evaluation
- 24. Demographic Segmentation - General Veterans (Pre-Boomers) 1934-1945 Boomers 1945-1960 Gen X (Cusper, Buster) 1960 - 1980 Gen Y (Millennials, Netster) 1980+
- 30. SUCCESSION PLANNING VS. YOUR BUSINESS MODEL
- 36. Business Model: Profit Model Revenue Cost Margin Cash Flow Assets
- 37. What is the Business Model? USP Market Discipline Profit Model
- 39. Alignment & Consistency: Market Disciplines 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) Eg. Google Tata Nano
- 40. Alignment & Consistency: Market Disciplines 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)
- 41. Alignment & Consistency: Market Disciplines 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) Eg. Air Asia
- 43. Alignment & Consistency: Market Disciplines 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)
- 44. Alignment & Consistency Operational Excellence (low cost producer) Product Leadership (best product) Customer Intimacy (best total solution) HP well-balanced portfolio, mass customization Acer super lean cost structure, aggressive pricing Apple powerful products, premium pricing, limited range Still Doing well in 2009/2010
- 45. SETTING EXPECTATIONS AND MONITORING PROGRESS
- 46. MBO Standards A Excellent B Good C Average D Poor E Useless
- 47. MBO Standards A Excellent B Good C Average Good D Poor E Useless
- 48. MBO Standards A Excellent Excellent B Good Very Good C Average Good D Poor Not Good E Useless Commit Suicide
- 51. Competency Standards 3 Meets behavioral standards consistently . Is a good role model for others. 2 Meets behavioral standards some of the time. Needs improvement. 1 Does not meet behavioral standards. Require counseling or disciplinary actions.
- 53. The Better Approach Business Strategy OJT, Mentoring, Big-5, LP, PDP, SDP, Projects, P/P Grid, SP Table, PDP, Premium, Q12, C&B, ACDP, SCL, Transfers, Events P/P Grid, Q12, PA, SDP, SP Selection Development Motivation Evaluation
- 54. Succession Planning Table: Example
- 55. Advanced Career Development Plan: Example
- 56. Advanced Career Development Plan: Example
- 57. Advanced Career Development Plan: Example
- 58. Advanced Career Development Plan: Example
- 61. Motivating Talent Hope Control
- 62. Motivating Talent Passion Job Growth Talent Minimum Motivation Target: 2 out of 4 Delegation
- 63. Curse of the Bell Curve ‘ A’ Staff ‘ B’ Staff ‘ D’ Staff ‘ E’ Staff ‘ C’ Staff
- 64. END NOTES
- 66. Thank You. soft copy of slides: http://totallyunrelatedrandomanddebatable.blogspot.com/
- 67. More About Takaful Ikhlas
- 70. Some of our valued clients
- 71. OUR CLIENTS MARITIME INSTITUTE OF MALAYSIA (MIMA) CITRA ALTI SDN.BHD GOLDEN STAR LOGISTIC SDN BHD RJH CONSULTANTS & SERVICES SDN.BHD TGS MARITIME TECHNOLOGY SDN.BHD SOFT TRIANGLE SERVICES SDN.BHD BROADTEC TV R & D CENTER SDN.BHD BAKTI INSANI SDN.BHD KOPERASI PEKEBUN KECIL DAERAH MUAR BHD PERLADANGAN PESERTA KUNDANG SDN.BHD MOF MANAGEMENT SDN.BHD AXXICO SDN.BHD AMALGAMATED METAL BUILDERS (M) SDN.BHD YAYASAN PUSAT HEMODIALISIS PERAK E - ORGANIZATION MAAHAD TAHFIZ NEGERI PAHANG FICRA NOVA SDN.BHD ESQ LEADERSHIP CENTER WELLNESS LIFESTYLES SDN.BHD WIRA KERJAYA SDN.BHD SURIA MEDIK SDN.BHD VR MARKETING (M) SDN.BHD DUALRANK (M) SDN BHD JENG YUAN RECLAIMED RUBBER SDN.BHD AEROTREE DEFENCE & SERVICES KHALID ALUMINIUM SDN.BHD MLC SHIPBUILDING SDN.BHD MILLELIA AQUA GHANI & CO AEREX SDN.BHD SCIENSIM SDN.BHD FRONTLINE SUPPORT SDN.BHD ANJUNG PERKASA SDN.BHD BESPOKE TECHNOLOGY SDN.BHD BIMB FOREIGN CURRENCY CLEARING AGENCY SDN.BHD GAFIS (M) SDN.BHD MEDIABIZ CREATIVE SDN.BHD KOPERASI UITM BERHAD ABENA CONSULTANTS AL RAJHI BANKING & INVESTMENT CORPORATION (MALAYSIA) BHD WISE INNOVATIONS SDN BHD FADZILL CONSTRUCTION SDN BHD S . N . AKMIDA HOLDINGS SDN BHD YAYASAN PELAJARAN JOHOR PELADANG HEITECH SDN BHD TELEVENTURE SDN BHD PERBADANAN ISLAM JOHOR BRIGHTMARK SDN BHD KEMASIK HOLDING SDN BHD UNIKL MEDICAL SERVICES SDN BHD AL-MADINAH INTERNATIONAL UNIVERSITY FOREST PLANTATION DEVELOPMENT SDN. BHD. FOX COMMUNICATIONS SDN. BHD. YAYASAN ISLAM NEGERI KEDAH SYARIKAT PERUMAHAN NEGARA BERHAD. SERI TEMIN DEVELOPMENT CORPORATION (M) SDN. BHD. CENTRAL SPECTRUM (M) SDN BHD MAJUIKAN SDN BHD MAJLIS BANDARAYA PETALING JAYA ADMINISTRATOR RUMAH AWANG ALAK BETATAR & DAMAI RESIDENCE
- 72. OUR CLIENTS MALAYSIAN NPK FERTILIZER SDN BHD FOXBORO (MALAYSIA) SDN BHD CEMENT INDUSTRIES (SABAH) SDN BHD STEEL INDUSTRIES (SABAH) SDN. BHD. INTERNATIONAL CENTRE FOR EDUCATION IN ISLAMIC FINANCE. STRATEGI TEGAS SDN. BHD KUMPULAN DARUL EHSAN BERHAD PRO ASSET MANAGEMENT SDN BHD INTERNATIONAL CENTRE FOR EDUCATION IN ISLAMIC FINANCE. MAJLIS PERBANDARAN SEPANG PELABUHAN TANJUNG PELEPAS SDN. BHD SENAI AIRPORT TERMINAL SERVICES SDN BHD PELEPAS BRIGANTINE CONTAINER SDN BHD PERMODALAN NASIONAL BERHAD. ISKANDAR REGION DEVELOPMENT AUTHORITY. SETIAUSAHA KERAJAAN NEGERI KED SCOMI GROUP BHD ASIAN FINANCE BANK BERHAD. KOPERASI ANGKATAN TENTERA BERHAD TISISIT CORPORATION (M) SDN BHD INSTITUT BANK BANK MALAYSIA OMNI OIL (ASIA) SDN BHD PERUNDING UNIKON SDN BHD MALAYSIA CONVENTION AND EXHIBITION BUREAU XAIR COMMUNICATION SDN BHD SYARIKAT BEKALAN AIR SELANGOR HLA ASSOCIATES SDN. BHD. CORPORATE LINE (M) SDN. BHD. PUNCAK NIAGA (M) SDN. BHD. WWE HOLDINGS BHD SUASA EFEKTIF (M) SDN. BHD. SYARIKAT BEKALAN AIR SELANGOR PLC INTERNATIONAL SYOR BERNAS S.B AFRIZAN TARMILI KHAIRUL AZHAR KOPERASI KAKITANGAN BANK RAKYAT BERHAD. MALAYSIAN REINSURANCE BERHAD LEMBAGA ZAKAT SELANGOR. (MAIS). UDA ANCASA SDN. BHD. RHB ISLAMIC BANK. TAKAFUL IKHLAS SDN. BHD. KUWAIT FINANCE HOUSE. RHB ISLAMIC BANK. MALAYSIAN REINSURANCE BERHAD. FELDA IFFCO SDN BHD BIMB INVESTMENT MANAGEMENT BERAD IBFIM
- 77. Passport to the Preferred Care Program Member ID Card Back Front
- 78. CONTACT US ….. Takaful Ikhlas Sdn. Bhd. (593075 U) IKHLAS Point, Menara 11A, Avenue 5, Bangsar South, No. 8, Jalan Kerinchi, 59200 Kuala Lumpur TEL : 03- 2723 9999 FAX : 03- 2723 9998 EMAIL : [email_address] WEBSITE : www.takaful-ikhlas.com.my
Hinweis der Redaktion
- Now let’s look at it from a HR perspective...
- Just a thought… are we in business for loyalty or for consumption? Actually = BOTH are important and must be in balance. But today’s conference is on one side of the Equation and we must be mindful of that. We are still in the topic of Philosophy. So… are we in business for Retention or Performance?
- B. Practical Examples of successful strategies in identifying the right talents
- Refer to Handout: Managing Change – Understanding the Demographics of the Evolving Workforce.pdf Engaging the Four Generations of Workers Exercise: What are the Demographic spreads for your ‘Current’ vs. ‘Ideal’ Brand? What appeals to your ‘Ideal’ segment? What do you need to do to Brand your company?
- Exercise: What are the Demographic spreads for your ‘Current’ vs. ‘Ideal’ Brand? What appeals to your ‘Ideal’ segment? What do you need to do to Brand your company?
- B. Adopting creative approaches and models to attract and identify right talents There are many definitions of Talent. Don’t listen blindly to Consultants nor simply trust books nor MNC practices.
- Performance The ability of a person to meet current expectations Key Words: Results, Targets, KPIs, Achievement, Expectations, Training, Job Concentrates on the Past i.e. what the person has done Potential The capacity of a person to meet future expectations Key Words: Competencies, Learning, Fit, Adversity, Failure rate, Development, Career Concentrates of the Future
- Group 1: High Potential, High Performance (Talent) Staff this category will automatically be placed in the company’s Succession Plans. Be the first priority to be considered for any promotions or upgrading exercises. Career Acceleration + Specialist Career Paths. Group 2: Average Potential, High Performance (Leadership Issues) Leadership, motivational and cultural development would be given to these staff while they perform in their current positions. Group 3: High Potential, Average Performance (Potential) Should not be given career advancement unless performance improves. Good targets for transfers or job rotations to departments that require urgent manpower. Group 4: Average Potential, Low Performance (Issues) Staff in this group should be monitored closely by HR. They should be eventually moved out of their current work function, department or even the company entirely.
- Example of successful customer loyalty strategy focusing on Operational Excellence and Product Leadership while maintaining market standard on Customer Service without indulging in it
- Example: Google USP – Search, Free! Profit Model – Ad revenue MKt Discipline – Operational Excellence Example: Air Asia USP – Budget Profit Model – Lowest Cost, Maximum Seats Mkt Discipline – Operational Excellence
- Example: Google USP – Search, Free! Profit Model – Ad revenue MKt Discipline – Operational Excellence Example: Air Asia USP – Budget Profit Model – Lowest Cost, Maximum Seats Mkt Discipline – Operational Excellence
- How does the Customer define “Great Experience”? - It depends on their own perceptions. Problem is…this differs depending on the Customer! If you are very good in something that the Customer does not value, it will not improve the Experience.
- To Excel – Must be a Leader in ONE of the disciplines but the other two must be at least at industry standard
- OPTION 1
- To Excel – Must be a Leader in ONE of the disciplines but the other two must be at least at industry standard
- Example: What do you mean by Good? A, B, or C? Achieve 5 tasks, what is your rating? You mean if I achieve all, I only get AVERAGE? You must be crazy
- This looks better for the ‘achieved all’ category But… the ratings still look ambiguous, right?
- This looks better for the ‘achieved all’ category But… the ratings still look ambiguous, right?
- Example: Define ‘Initiative’ How do rate Initiative on a 10-pt scale?
- Example: Define ‘Initiative’ How do rate Initiative on a 10-pt scale? Exercise: Determine 1 core Competency/Values you want to evaluate Create a list of 5 ‘observable’ behaviors of that competency