“Employees are our most important asset”
Human capital strategies are often canvassed in the executive board room and are not implemented effectively. Inefficient ways of managing human capital can cost the organisations their competitive edge, jeopardising their own success and even survival. Our team of experienced consultants help organisations to identify core measures that can be levered by the management team to increase the return on human capital and their performance.
Organisation Structuring and Design
We assist our client in formulating a professional organisation structure and design which reflects what the organisation wants to achieve, its unique differentiators/ competitive advantages, and required capabilities. We undertake an approach of analysing the configurations of business value chain to draft the functional boundaries. Various structural characteristics such as centralisation, span of control, integration, and specialisation will also be analysed as a part of this exercise.
In most of the cases, we also develop Job Descriptions (JDs) to add clarity to roles & responsibilities, and also design performance management system to monitor the role contribution and effectiveness.
Manpower planning & optimization
Organisations are often weighed down by legacy structure and practices which shrinks the overall productivity. We follow a scientific process of computing the manpower for positional and non-positional deployment. Positional manpower requirement is ascertained through defining the capacity, throughput and productivity of the organisation; and non-positional manpower are defined through a systematic analysis of the activities undertaken, the drivers of the activity and their volume, frequency of activities and standard time definition. We then deploy a dynamic manpower assessment tool which is responsive to business requirements and provide strategies for short, mid and long term manpower deployment based on criticality of the role.
Driving productivity through performance management systems
Managing performance is essential for organisation’s success and it goes beyond the appraisal process. Effective performance management impacts an individual’s delivery, response and reactions to the work environment and empowers the team to be successful in the short and long run. Our intervention has helped clients achieve:
- Setting effective goals
- Monitoring the progress
- Providing constructive feedback
- Building an engaged team
- Improving productivity
- Establishing transparency
- Planning for continuous improvement
- Recognizing high performers
- Developing strong leaders
Attracting, retaining and engaging talent
We are in a time where organisations fight not only for their share in the market size but also for the finite pool of talent. If organisations don’t have comprehensive systems and processes that can facilitate attraction, retention and engagement of talent, the top performers will be cherry-picked by their competitors. Organisations build their competitive edge through their people. If employee-turnover is overlooked, a conducive work environment is not created for the millennials and employees are not actively engaged, organisations will pay colossal cost in the form of depleting productivity. Our interventions can help you in gauging the pulse of your employees, to not only promote engagement but also cultivate employee loyalty in the long run.
Talent Management Systems
Systems are organised way of executing things, they hep in planning, build predictability and discipline within the organisation. Ma Foi assists clients in building their talent management systems that reflects culture and gives opportunities for employees to learn and give their best on a continuous basis. Some of the system elements we work on are:
- Talent acquisition
- Competency mapping
- Induction and integration
- Performance management system
- Learning and development / Training
- Potential appraisal and development centres
- 360-degree feedback survey
- Rewards and recognitions
- Job rotation and enrichment
- Career and succession planning
HR Policy Manual
HR policies provide guidelines for organisations to manage its human resource in a standardised fashion. Ma Foi has extensive experience in formulating HR administrative, compliance and systems policies which are the foundation for building an engaged workforce within the organisation. Each of the policy developed by our HR professionals will encompass various elements such as objective, applicability, policy, procedure, ownership and implementation responsibility, escalation matrix and tools and formats. We also extend handholding support for our clients towards implementation and audit.
We undertake acustomised compensation benchmarking study where our consultants will understand the compensation philosophy of the organisation, identify comparators considering various factors such as industry, company size, geography, nature of role and competitors for talent acquisition.
We adopt a robust methodology to collect data from comparable organisations, which is validated before leveraging for the study.
Benchmarking of salary with market will help the organisations to reap the below listed benefits:
- Gaining insights to formulate compensation strategies
- Understanding of market positioning in terms of compensation – whether the organisation is paying at par/below/higher than the market rate
- Building the ability to attract, retain and motivate talents
- Establishing internal and external parity
- Ensuring fair compensation system is practiced, when market compensation insights are studied in line with performance level of the individuals
- Setting salary increments