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Speaker ： Ms Virginia Choi, President, HKIHRM Date: 25 November 2002

Prepare for the Upturn 逆境自強 迎接挑戰 Employment in HK: Issues and Policy Implications Central Policy Unit Public Seminar. Speaker ： Ms Virginia Choi, President, HKIHRM Date: 25 November 2002. Agenda. What is HKIHRM? What is going on in the market? What does that mean to me?

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Speaker ： Ms Virginia Choi, President, HKIHRM Date: 25 November 2002

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  1. Prepare for the Upturn逆境自強 迎接挑戰Employment in HK: Issues and Policy ImplicationsCentral Policy Unit Public Seminar Speaker：Ms Virginia Choi, President, HKIHRM Date: 25 November 2002

  2. Agenda What is HKIHRM? What is going on in the market? What does that mean to me? What is the job market environment? - Take aways for employers and employees

  3. What is HKIHRM? • A non-profit and non-government professional organization formed in 1977 • With more than 3,400 members • (including 320 corporate members)

  4. What is Going on in the Market? Economic & Employment Environment

  5. Macro Economic Environment 1) Uncertain economic outlook • US may experience economic downturn 2) Globalization • Shortened business cycle 3) China • Continues to enjoy high GDP growth 4) Knowledge economy • Human capital is the most important asset HK: Prudent but not pessimistic

  6. MassiveChange DemoralisedWorkforce Disconnectionfrom Customers CostCutting/ResourceStretching Internal focus Lack ofCapacity to Grow The Downward Spiral More Cost Cutting

  7. HK Employment Market • Unemployment rate still remains high • Manpower mismatch • Changing employment pattern • Outsourcing • Flexible work arrangement

  8. What does that Mean to Me?

  9. Transformation Requires a Leap Can’t transact your way to transformation • Must think from the goal back

  10. What is the Job Market Environment? (A) Skill Sets for the Workplace

  11. Top 5 most Important Training Initiatives to Various Levels of Staff Source: Training Needs Analysis Survey 2002, IHRM

  12. Personal Quality being Measured in Appraisals Source: IHRM Incentive Policy and Performance Management Survey 2002

  13. Take Aways: • For employees: • Invest in themselves • - New workplace skills are needed, e.g. • Conflict-resolving / negotiation skills • Managing priority • Language skills: English and Putonghua • - Personal quality being measured • Core competency, future potential • For employers: • Invest in their people • Talent management

  14. What is the Job Market Environment? (B) Change of Employment Mode

  15. Manpower Planning • Proportion of flexi workforce to total workforce increases: • 2001: 9.1%  2002: 11.9% • Proportion of companies with outsourced positions increases: • 2001: 22.6%  2002: 24.2% • Source: IHRM Manpower Planning Survey 2002

  16. Take Aways: • For Employees: • Try to understand the global trends of outsourcing and flexi work arrangement • Ensure your own employability • Keep an open and flexible mind-set to the changing working environment • For Employers: • Need professional management on flexi workforce - • e.g. how to motivate, how to provide effective training and how to reward • Manage outsourcing projects professionally - • - may lose control and risk fluctuating standards • Communicate with affected staff

  17. What is the Job Market Environment? (C) Change of Compensation & Benefit Package

  18. Pay Freeze is the Trend • First negative pay adjustment recorded in 2002 since 1984 • Overall weighted average adjustment in 2002 • 2001: 2.6%  2002: - 0.1% • 63.5% of responded companies opted for pay freeze • 2003 predicted adjustment • 82% predicted pay freeze • Source: IHRM Pay Trend Survey 2002

  19. The Use of Flexible Incentive Package • Non-guaranteed bonus payment • 89% surveyed companies provided a non-guaranteed bonus scheme to some or all of their employees • (vs. 84% in 2001) • Among those employees eligible to be awarded a bonus, only 52% were actually awarded a bonus • (vs. 88.7% in 2001) • Source: IHRM Pay Trend Survey 2002

  20. Take Aways: • 1) For Employees: • Incentives will only be awarded to high performers • Work together with employers to enhance the competitiveness of companies • 2) For Employers: • C&B directly related to business profitability • A properly designed non-guaranteed scheme to motivate staff performance and to flexi payroll costs • Open communication, the right corporate culture & effective C&B strategy are key to enable changes with least pain but more understanding

  21. The Upward Spiral

  22. Well-Equip yourself, Be a Winner in the Future!

  23. URL: http://www.hkihrm.org Informative Website END

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