Welcome to the CEO’s Blog
The aim of this page is to inform our clients on trends and issues developing in the Human Capital Development area across Asia, the Middle East and
|18 Feb 10||
I am seeing a common theme in organisations planning strategy for this year. There is a consistent focus on 'product' such as a new piece of software or a new service to the clients. I've been thinking that to be fully successful you have to check you are in the right box:
Whichever way you look at it, it is achieving a balance of people and product that will create the conditions for success;
Sounds easy but let me give you some examples of 'wrong way'...
"We are going to sell derivatives to Private Banking clients using the software from the dealing room..."
All well and good. You have a good product (the software in the dealing room) but what about the people? In this case the Client Relationship Managers? Do they understand enough of the product to be able to confidently sell to the clients? How you find out where their knowledge levels are?
Here's another one...
"We are installing the latest risk management software that uses a Monte Carlo Simulation and a 95% VaR Confidence Interval..."
Great. All financial organisations should look to improve their risk management systems and procedures. Assuming it is good software (there are many duds out there), what about the people? It is only a balance of science and art that makes risk management successful. The science produces a number (like VaR) but the people use that to discuss the risk (the Art side) such as 'Why has it gone up since yesterday?" or "If we stress test this, how do the numbers vary and why?". You may be surprised to know that a lot of people involved in Risk don't know what VaR is! I am serious! BTW, we define VaR as the minimum loss you would expect at a confidence interval over a given time period. Lots of people think it is a maximum loss. Oops!
"We are merging our Debt Capital Markets with our Equity Capital Markets business to offer our clients a seamless service..."
Alright. Sometimes a client referral gets to the wrong department and the lead dies there. So merging can have some advantages. But if the DCM people don't know how the ECM works and vice versa, you don't achieve anything. Don't assume that because they sit next door to each other, this will do the trick!
If you would like to know how you can develop a people strategy to match your product strategy, contact us. All our consultants have long industry experience so they understand what you are trying to achieve for your business. We can then create a development strategy to balance your people and create the success you are striving for.
|8 April 09||
"If you think education is expensive, try ignorance.”
See the full article press here
|29 May 09||
Training is an investment not a cost
Mentor Minister and former Prime Minister of Singapore Mr Lee Kuan Yew is some-one I admire. He became the first prime minister of Singapore on 3 June 1959 and stepped down on 28 November 1990 and was the world's longest ever serving Prime Minister at that time. His incredible vision for Singapore over these years created the 5th wealthiest country in the world in terms of GDP pre capital in 2007. In December 2008, the foreign exchange reserves of this small island nation of only 710 square kilometres stood at around USD174. billion. This with a population of only 4.8 million living on an island with no natural resources.
So when he makes a speech, I think his track record confirms his credibility.
In May, he said during a meeting with Shanghai Mayor Han Zheng "Singapore will not let up on training more people and having more graduates, even as unemployment is climbing during the current global economic crisis.That is because the country is certain it will be lacking in skilled people once the recession is over. You don't educate them now, we have no time later. You would have lost a few years."
In current times, many firms regard training as an expense. Mr Lee would seem to regard it as an investment. Wise words indeed.
Read the full article here http://www.straitstimes.com/Breaking%2BNews/Singapore/Story/STIStory_382463.html
ITS Managed Learning Network