hSenid Business Solutions and Deloitte Consulting introduce new HR Information Systems
Tuesday, 5 November 2013 00:01
Methodology to focus on a performance-driven culture
hSenid Business Solutions, the No. 1 Human Resource Information System (HRIS) provider in Sri Lanka, in Collaboration with Deloitte Consulting hosted a breakfast forum on “Succession Management: A critical factor for business sustainability” recently at The Hilton Colombo Residence. Over 30 CEOs, chairpersons and HR Directors from over 25 leading organisations in Sri Lanka were present at this event.
Deloitte Southeast Asia Director of Human Capital Consulting Team Mario Ferraro presented the importance of succession planning in today’s times and how to implement a successful succession planning framework using technology.
According to Ferraro, succession management is extremely vital today due to global trends such as multi-generational values, globalisation and digitalisation; 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.
Ferraro also highlighted that building a sustainable talent strategy should be a key concern in all organisations as talent strategy is the heart of all talent-related activities. 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 such as: performance management, workforce planning, succession management, rewards and recognition, recruitment, onboarding, training and development, leadership and global mobility.
hSenid Business Solutions 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.
Succession management process
For a successful succession management process it is important to have a well defined succession management vision and strategy, design a strong succession management program, build this program, effectively deliver it and measure operating effectiveness.
He also mentioned that it is vital to have visible support from the top management, incorporate all employee input, motivate future leaders, reinforce organisation’s culture and core values and identify key leadership criteria in order to really drive this process well.
A panel discussion on succession management was then facilitated by Faculty Member and Management Consultant of Postgraduate Institute of Management and University of Sri Jayawardenapura Dr. Ajantha Dharmasiri. Several key issues regarding talent management and succession management were raised and discussed during this session.
hSenid Business Solutions is a premier Human Resources Information Systems solution provider; specialising in holistic human resource applications, HR services outsourcing and software development. hSenid also operates in Australia, Singapore, India, and Sri Lanka. Since its incorporation in 1997, it has served over 650 clients globally across 18 industries in 30+ countries.
Deloitte is the largest professional services network in the world providing audit, tax, consulting, enterprise risk and financial advisory services to public and private clients spanning multiple industries.
With a globally connected network of over 200,000 professionals in more than 150 countries, Deloitte brings world-class capabilities and high-quality service to clients, delivering the insights they need to address their most complex business challenges.
Deloitte Southeast Asia is a member firm of Deloitte Touche Tohmatsu Ltd., comprising Deloitte practices operating in Brunei, Guam, Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam.
It was established to deliver measurable value to the particular demands of increasingly intra-regional and fast growing companies and enterprises. Comprising over 250 partners and 5,500 professionals in 22 office locations, the subsidiaries and affiliates of Deloitte Southeast Asia combine their technical expertise and deep industry knowledge to deliver consistent high quality services to companies in the region.
Pix by Lasantha Kumara