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'Afif Zaky AeU Assignment - STRATEGIC HUMAN CAPITAL PLANNING - as at 14 June 2015

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  1. 1. asiaeuniversity Executive Bachelors in Management (General Management) STRATEGIC HUMAN CAPITAL PLANNING Individual Assignment by Afif Zaky Bin Mohamed Facilitator: Rita Salwany Yazid Submission date 15th June 2015
  2. 2. TALENT Find it. Keep it. Feedit. Lead it. The top issues globally, across sectors, tie to retaining good people and the leadership capability to align individual and organizational priorities. Respondents recognize that people are burned out after years of more with less while few organizations are taking serious and systematic efforts to create a place where good people actually want to work. Task 1 Evaluate the importance of retaining TALENT where it includes knowledge, skills, experiences where these are very significant elements for the organizational performance? (10marks) The Importance of Retaining Talent The management must understand the difference between a valuable employee and an employee who doesnt contribute much to the organization. Sincere efforts must be made to encourage the employees so that they stay happy in the current organization and do not look for a change.
  3. 3. One of the most critical issues facing organizations is how to retain the employees you want to keep. It is important to observe and evaluate your employees. By creating a bonding relationship, observing their knowledge, skills and experiences, finding the main quality elements. This process will design the quality, productive and happy employees into the organization. It is essential for the organization to retain the valuable employees showing potential. Every organization needs hardworking and talented employees who can really come out with something creative and different. No organization can survive if all the top performers quit. It is essential for the organization to retain those employees who really work hard and are indispensable for the system. HR practitioners are to analyze and manage employee turnover in their organizations. To understand why employees leave and why they stay, and develop an effective retention management plan. Employee retention strategies go a long way in motivating the employees so that they stick to the organization for the maximum time and contribute effectively. Sincere efforts must be taken to ensure growth and learning for the employees in their current assignments and for them to enjoy their work. Let us understand why retaining a valuable employee is essential for an organization. Hiring is not an easy process. The HR Professional shortlists few individuals from a large pool of talent, conducts preliminary interviews and eventually forwards it to the
  4. 4. respective line managers who further grill them to judge whether they are fit for the organization or not. Recruiting the right candidate is a time consuming process. An organization invests time and money in grooming an individual and make him ready to work and understand the corporate culture. A new joinee is completely raw and the management really has to work hard to train him for his overall development. It is a complete wastage of time and money when an individual leaves an organization all of a sudden. The HR has to start recruitment process all over again for the same vacancy, a mere duplication of work. Finding a right employee for an organization is a tedious job and all efforts simply go waste when the employee leaves. When an individual resigns from his present organization, it is more likely that he would join the competitors. In such cases, employees tend to take all the strategies, policies from the current organization to the new one. Individuals take all the important data, information and statistics to their new organization and in some cases even leak the secrets of the previous organization. To avoid such cases, it is essential that the new joinee is made to sign a document which stops him from passing on any information even if he leaves the organization. Strict policy should be made which prevents the employees to join the competitors. This is an effective way to retain the employees. The employees working for a longer period of time are more familiar with the companys policies, guidelines and thus they adjust better. They perform better than individuals who change jobs frequently. Employees who spend a considerable time in an organization know the organization in and out and thus are in a position to contribute effectively.
  5. 5. Every individual needs time to adjust with others. One needs time to know his team members well, be friendly with them and eventually trust them. Organizations are always benefited when the employees are compatible with each other and discuss things among themselves to come out with something beneficial for all. When a new individual replaces an existing employee, adjustment problems crop up. Individuals find it really difficult to establish a comfort level with the other person. After striking a rapport with an existing employee, it is a challenge for the employees to adjust with someone new and most importantly trust him. It is a human tendency to compare a new joinee with the previous employees and always find faults in him. It has been observed that individuals sticking to an organization for a longer span are more loyal towards the management and the organization. They enjoy all kinds of benefits from the organization and as a result are more attached to it. They hardly badmouth their organization and always think in favour of the management. For them the organization comes first and all other things later. Task 2 Identify the pitfalls of the management within the organisation where they failed to attract, select and retain good employees? (10 marks)
  6. 6. The Pitfalls of the Management There are several reasons as to why an employee decides to move on. Monetary dissatisfaction, a negative environment at the workplace, dirty politics, complicated hierarchies, lack of challenging work, poor supervision being the major ones. In the current scenario almost all the leading organizations are facing the problem of employee retention. Management somehow fails to stop the high potential employees and thus face the negative consequences. It becomes really difficult for the organization to retain the employees who decide to quit for a better opportunity. Employees are the major assets of any organization. An organization cant survive if the individuals are not focussed and serious about their work. The success and failure of any organization depend on the hard work put by the employees to achieve the targets of the organization. It is a common observation that employees who spend a good amount of time in the organization tend to know more about it and thus contribute effectively. They develop a sense of loyalty towards their workplace and strive hard to live up to the expectations of the management. When individuals leave any organization, they are more likely to join the competitors. Sometimes they tend to take confidential data along with them to create an impression in their new organization. This way the plans of the organization get leaked even before implementation and they fail to do anything great. Employees must not share any information with an external party in any manner what so ever. An organization cant perform well if the employees speak negative about it. It is essential to have a group of loyalists who play an important role in furthering the brand image of the company. Employees working with an organization for a long time never badmouth it and are somewhat emotionally attached to it. People leaving in a short span always speak ill about their previous organizations.
  7. 7. The loyalty factor is almost zero and no one is ready to take ownership of work. Human Resource to take initiatives. The HR department must take the initiative to discuss the several issues disturbing an employee and try to sort it out as soon as possible. An organization must work hard towards retaining those who really are important for the organization. Monetary dissatisfaction is one of the major reasons for an employee to look for a change. Every organization has a salary budget for every employee which can be raised to some extent but not beyond a certain limit. Retention becomes a problem when an employee quotes an exceptionally high figure beyond the budget of the organization and is just not willing to compromise. The organization needs to take care of the interests of the other employees as well and cant afford to make them angry. Every organization tries its level best to hire employees from the competitors and thus provide lucrative opportunities to attract them. Employees become greedy for money and position and thus look forward to changing the present job and join the competitors. Individuals speak all kind of lies during interviews to get a job. They might not be proficient in branding but would simply say a yes to impress the recruiter and grab the job. It is only later do people realize that there has been a mismatch and thus look for a change. Problems arise whenever a right person is into a wrong profile. An individual loses interest in work whenever he does something out of compulsion.
  8. 8. The human resource department should be very careful while recruiting new employees. It is really important to get the reference check done for better reliability and avoid confusions later. Some individuals have a tendency to get bored in a short span of time. They might find a job really interesting in the beginning but soon find it monotonous and look for a change. The management finds it difficult to convince the employees in such cases. Individuals must also understand that every organization has some or the other problem and adjustment is required everywhere, so why not in the present organization? It becomes really difficult for the HR Department to find out what exactly is going on in the minds of the individual. An individual should voice his opinions clearly to make things easier for the management. Unrealistic expectations from the job also lead to employees looking for a change. There is actually no solution to unrealistic expectations. An individual must be mature enough to understand that one cant get all the comforts at the workplace just like his home. Individuals from different backgrounds come together in an organization and minor misunderstandings might arise but one should not make an issue out of it. An individual must not look for a change due to small issues. One needs time to make his presence feel at the organization and must try his level best to stick to it for a good amount of time and ignore petty issues.
  9. 9. LEADERSHIP NEEDED Vision is absent. People are not aligned. Where are we going and why? As in our previous surveys, leadership remains a top concern. On a selection of people issues, 58% of respondents indentified leadership as the top concern. What do they want from leaders? The top wish is free, and an absolute basic: Communicate the vision. But, in times of stress, most leaders have their heads down and focus on the small stuff. Few leaders are standing up and standing out. The results are dangerous. Senior managers perceive their organizations are using EQ (emotional intelligence) others, not so much. Task 3 How many vision and people oriented leaders help to nurture, coach, communicate and motivate the employees with high expectations on the organisation? (10marks) Employee retention includes various steps taken to satisfy the employees so that they stay with the organization for a longer duration. Strong measures must be taken to retain the high potential employees who have spent a good amount of time in the organization and know it in and out. It is essential to retain the talented employees who are loyal towards the organization and can contribute effectively.
  10. 10. Leaders plays important roles The team leaders and the supervisors play an important role in employee retention. It is the responsibility of the team leader to ensure that the team members are contented with their work and share a good rapport amongst themselves. An over burdened worker never finds his job interesting and would always be eager for a change. It is the duty of the team leader to distribute the work equally among all the employees. The manager should not be partial to anyone and treat all his members as one. He should not let negativity creep in the team. The superiors must have a control on their subordinates and make sure they do not fight with each other. Nothing productive comes out of disputes, rather it demotivates the individuals and prompt them to look for some another opportunity. Rules and regulations should be same for everyone. Avoid granting special favours to anyone. One should never fear his boss. Hitler approach does not work in the current scenario. A team leader should be a role model for his team. The team managers should not be arrogant and avoid misuse of their position. He should let all the team members participate in the decision making process.
  11. 11. Every employee should have the freedom of expression and no one should be left out or neglected. The team leader should trust and respect his team members to expect the same from them. The team leader should be accessible to his team members. Employees feel demotivated when their queries remain unsolved and there is no body to listen to them. When the team leader doesnt have time for his team, the employees crib among themselves and wish to move on. The team leader must make sure to be with his team whenever required. He should support his team members always. Listen to their problems and try to provide a solution. Make them feel that you are there for them. A little care is essential to make them feel safe and secure. If you find any of the team members worried, intervene immediately. Minor problems left unattended can lead to severe stress later, forcing employees to look for a change. The superiors must maintain transparency in communication. Every team member should get the same information from their boss for them to remain satisfied and loyal towards the organization. The team leader must appreciate those who perform well. Give them a pat on their back. The hard work of the team members should never go unnoticed. The top performers must be given a special treatment to motivate them further and expect the same from them every time. The employees who have not performed well should also be asked to buck up for the next time. It is the responsibility of the team leader to bind his team together. Take your team out for lunch once in a while for them to come closer to each other. Every individual expects peace at the workplace and looks for a change only when there is unnecessary stress at work. The team leader must promote healthy competition at the workplace.
  12. 12. A team leader should mentor his team well. Employees are reluctant to go for a change when they have a good boss. _____________________________________________________________________ GOT EQ? Organizations making EQ a priority score 32%- 39% higher on the question above. Only 11% of the organizations in our sample earned a 5/5 on leveraging emotional intelligence. Those with a 4 or 5 out of five are getting better marks from employees. In this camp, respondents say EQ is important because its part of the culture and competitive advantage. For example, this President from the sector Business & Industry, in Mexico, wrote: EQ is fundamental for improving communication, relationships, collaboration, teamwork and increasing self-esteem and enjoying work.
  13. 13. Task 4 Justify and describe the IMPACT with present and absence of Emotional Intelligence (culture) in managing the workforce (as stated below) The top reasons for creating an EQ (Emotional Intelligence) culture are: a) Customer and internal relationships (34%) b) Effective work climate (30%) c) Alignment of people, and people with strategy (27%) On the other hand, those that dont see EQ being valued, report three primary causes: a) Leadership isnt aware (38%) b) There is a gap between company culture and principles of EQ (e.g.,our bosses have no feelings) (27%) c) There isnt funding available / the financial value isnt clear enough (23%) Studies have shown that people with high EQ have greater mental health, exemplary job performance, and more potent leadership skills. Markers of EQ and methods of developing it have become more widely coveted in the past few decades. In addition, studies have begun to provide evidence to help characterize the neural mechanisms of emotional intelligence.
  14. 14. The Five Pillars of Emotional Intelligence Self-Awareness People with a healthy sense of self-awareness are "comfortable in their own skin." They understand their strengths, weaknesses, emotions, and impact on others. One of the most telling signs of self-awareness is how well a person responds to constructive criticism. Self-Regulation Not only do the emotionally intelligent understand their emotions, but also they can demonstrate maturity and restraint when revealing them. They do not squelch their feelings, instead expressing them in a manner that shows a high level of judgment and control. Motivation Managers generally are ambitious. However, emotionally intelligent leaders are motivated by a strong inner drive, not simply money or titles. They are resilient and optimistic in the disappointments. It takes a lot to break their spirit or thwart their confidence. Empathy Managers with empathy are not necessarily easy on their staffs. They do, however, possess the compassion and understanding of human nature that enables them to connect emotionally with others. Empathy allows them to provide stellar customer service and respond genuinely to an employees frustration or concern. People Skills Emotionally intelligent managers are widely respected by their bosses, peers, and employees. They like people and are savvy enough to know what makes them tick. Their ability to quickly build rapport and trust with those on whom they depend seems almost second nature. Power wars, backbiting, and duplicity are not their style.
  15. 15. Impact in the presentof EQ culture. An organization need to apply EQ culture in customer and internal relationship in attaining success in their business and careers. As individuals, our success and the success of the profession today depend on our ability to read other peoples signals and react appropriately to them. Therefore, each one of us must develop the mature emotional intelligence skills required to better understand, empathize and negotiate with other people, particularly as the economy has become more global. Otherwise, success will elude us in our lives and careers. EQ increases the effective work climate by effective management of emotions enables a member to influence the group by changing other members emotional reactions to particular courses of action. These influencers draw upon past experience and apply on them. Understanding of others emotions may improve the performance of their group. The ability to orchestrate one's emotions as per the need of the group helps in accomplishment of the group task, which in turn influences group performance. The leader has a direct influence on the culture of work environment. Studies have found the impact of leader on the behavior of employees. Having people aligned with people with strategy creates the framework of achieving goals of the organization and ultimately leading to job satisfaction. Emotional intelligence, in this case, contributes to the emotional well-being of both the individual who possesses it, and those around him.
  16. 16. Impact when absence ofEQ Unawareness of leadership in EQ, disregard and lack of empathy shown toward departing colleagues. As a result, the downsizing backfired and created more problems, not more efficiency. In all this growth, it realized that its top concerns were the happiness and satisfaction of its people. The EQ of a companys leadership creating a happy staff, then people would put in the extra hours, go the extra mile, put up with the ambiguity, and stick with the company under strained conditions. This theory proved correct, and many staff members have been there for years, while other companies in the same industry are experiencing high turnover. Everybody had a voice; everybody was heard. Everybody received a piece of the success. Rewards and recognition were given daily. Problems were looked at as obstacles to overcome without any finger pointing or blaming. All in all, the organization established an atmosphere of confidence, respect, motivation, and empathy all qualities needed for a strong sense of EQ. The good news is that, unlike EQ, which is pretty much fixed at an early age, EQ can grow with the right motivation and willingness to face flaws. Someone with low EQ must first bone-up on the concepts nuts and bolts. As with most self-development efforts, awareness is the key.
  17. 17. Gap between company culture and principles of EQ such as superiors shows lack of transparency in communication, minor problems left unattended can lead to severe stress later, forcing employees to look for a change. Emotional intelligence is not about "being nice." Too much niceness can indicate low confidence and assertiveness, indicating a lack of emotional intelligence. You may have witnessed the debris that certain "harmony-hungry" managers leave behind. They crave peace so much that important issues and performance problems fester far too long, sometimes to the point of no return. An emotionally intelligent manager chooses his or her battles wisely, behaves assertively when necessary, and displays the courage to confront sticky situations with confidence. Strong emotional intelligence helps them do so without making enemies or damaging the self-esteem of others. Managers must possess the maturity and humility to listen to feedback, using it wisely to come to terms with and shore-up their foibles. The manager also can greatly increase his or her EQ by listening, asking for feedback, and watching others who have perfected their EQ. A wide array of books, Web sites, and other tools can provide more information and guidance about EQ. Finally, a true commitment to putting new knowledge into action can help build EQ and communicate to colleagues that personal and professional change is occurring. Regardless of the methods, working to increase emotional intelligence in the workplace is a smart idea. Unavailable funding in an organization to create functions, trainings and events such as team buildings, telematches, seminars, annual dinners for employees makes the work environment seems dull and uninteresting place to work in. Eventually, employees feel bored and look for change to a better place where attention on employees being observe. The higher EQ with regard to a particular company, the more likely IQ will not degrade when things go wrong. There is no cure for emotions, but we can dramatically minimize the impact they have on the organization by adjusting the process.
  18. 18. Conclusion Role of EQ in achieving organizational effectiveness is very significant, and it is reiterated in studies carried out across the globe. EQ align well within the framework of achieving goals of the organization and ultimately leading to job satisfaction and success. EQ is fundamental for improving communication, relationships, collaboration, teamwork, increasing self-esteem and enjoying work. It may seem that functioning without emotional intelligence would be highly problematic. It is apparent that if you remove any positive capacity or quality from personality, something will be sacrificed. For that reason, it is probably fair to say that emotional intelligence is very important. And, at the same time, so are many other qualities. Since only a very small and fortunate few might have all the positive qualities desirable in personality, the rest of us must make do with what we have, and work with it as effectively as possible. Part of working effectively with what is, involves self-knowledge. And self-knowledge can be enhanced from good psychological assessment, including the use of psychological tests. ----------------------------------
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