PeoplesHR, with Deloitte Consulting, introduces a methodology for a performance driven culture through HR Information Systems
SINGAPORE, 20 November 2013 — PeoplesHR in Collaboration with Deloitte Consulting hosted a breakfast forum on “Succession Management- A critical factor for business sustainability” on the 19th of November 2013 at the Swissotel Stanford, Singapore. Over 25 CEOs, Chairmen and HR Directors from over 25 leading organisations in Singapore were present at this event.
Mr. Dinesh Saparamadu, Chairman and CEO of PeoplesHR, delivered the welcome address and introduction to PeoplesHR. He highlighted the key benefits of PeoplesHR and how the system can enable any organisation to effectively manage its Human Resources.
Mr. Wajira Wanigasekara, Manager PeoplesHR, introduced the ‘PeoplesHR Performance Driven Culture Execution Model’. This model offers a well-integrated, comprehensive delivery method that will help organisations in growth and sustainability of talent management. These tools also enable organisations to transform culture by performing proper performance management, he explained. However, PeoplesHR identified that most companies fail to understand the importance of the management of the succession planning process and embark only on automation as the solution. Mr. Wanigasekara said that this is the reason they decided to introduce a 3 step model in order to get the best out of succession planning and growth initiatives. He said that the first step is to provide consultations on the areas ranging from identification of the business critical position to defining the strategy to close gaps. The next step is to conduct workshops on how to manage the process and execute it. The final step, he said, is to provide the necessary technology to execute the process, which will be provided by PeoplesHR.
Mr. Mario Ferraro, Director of Human Capital Consulting Team in Deloitte Southeast Asia, presented the importance of succession planning in today’s times and how to implement a successful succession planning framework using technology.
According to Mr. Ferraro, succession management is extremely vital today due to global trends such as the fast pace of change, competition for talent, rise in retirement and uncertainty in market place, which are making succession management more complex. Thus, without a proper succession plan in place, organisations could be significantly impacted with increased costs, lost efficiencies and lower shareholder confidence, as they struggle to fill vacancies and develop successors. He emphasised on how the top priority of all global leaders should be to develop leaders and engage in succession planning.
Mr. Ferraro also highlighted that building a sustainable talent strategy should be a key concern in all organisations as talent strategy is the heart of strategy execution. The aim should be to build a talent strategy that is aligned with the business strategy and talent investments. He pointed out that the best solution for this is an integrated talent management solution that combines all key areas of talent management, including performance management, workforce planning, succession management, rewards and recognition, recruitment, onboarding, training and development, leadership and global mobility.
Mr. Ferraro also pointed out that in order to successfully implement a succession management process it is important to have visible support from the top management, motivate future leaders, reinforce organisation’s culture and core values and identify key leadership criteria in order to really drive this process well.