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Speech at 2011 Asian Human Capital Award Presentation Ceremony

BG (NS) Tan Chuan-Jin, Minister of State for Manpower and National Development, Resorts World Sentosa, Compass Ballroom

Employment practices
Distinguished Guests

Ladies and Gentlemen

Opening
 
  1. Good morning. I am very pleased to be here for the presentation of the 3rd Asian Human Capital Award.

    The Importance of Our People
  2. I strongly believe that our people represent the heartbeat of any organisation. If there is one factor to get it right, it would have to be the people factor. It is not wrong using terms like Human Capital or Human Resource, but its usage often has strong economic overtones rather than humane ones. For example, do we not often talk about how best to maximize our human resource? Or should we be talking about how best to lead and nurture our people?
  3. The global economy continues to be turbulent and organisations across Asia are putting in place different business strategies to ready themselves for the challenges and uncertainties ahead. Some organisations have the foresight to invest in their most important asset – their people.
  4. Employees who are well-led and well-trained will be more motivated and productive. Organisations which harness their talent through strong people practices will gain a competitive advantage and stay at the forefront when the economy recovers.
  5. This Award was established in 2008 as an annual platform to recognize just such innovative practices which have created significant business impact. Their exemplary and innovative people practices will set new standards, spark off new ideas and serve as useful case studies for other organisations in Asia to model after.

    Overview of 2011 Award Participation and Evaluation Process
  6. Over the last three years, I am pleased that the Award has steadily gained recognition across Asia as the premier award in human capital excellence. We received 53 entries from eight countries across Asia - the highest number of entries with the widest representation across Asia since the Award's inception. The number of participating organisations has increased by more than 60% over the previous year. Overseas entries comprise almost two-thirds of all entries, making the Award a truly regional one.
  7. The entries covered a diverse range of people practices – from change management, talent and leadership development, people engagement to employee diversity programs. They also revealed that organisations across Asia are increasingly coming up with creative Asian-centric people solutions to strengthen their competitive advantage, instead of merely transplanting practices from the West.
  8. All entries went through a rigorous and stringent evaluation process. In addition to paper evaluation, an audit team visited the shortlisted organisations and talked to the senior management, HR team and employees to verify the entries. On behalf of the Award co-sponsors, INSEAD and CNBC Asia, I thank the distinguished members of the shortlisting and judging panel for their invaluable contribution to the evaluation process.

    Announcement of Award Winners
  9. The winning entries this year are really quite outstanding. This morning, we will honour three organisations for leading the way in demonstrating effective and impactful human capital strategies for Asia.
  10. It is my great pleasure to confer the 2011 Asian Human Capital Award, to HCL Technologies and Manila Water Company.
  11. HCL Technologies' Employees First, Customers Second (EFCS) philosophy needs little introduction. It has been published into a best-selling book and used as a case study in leading management schools globally. The judges found the EFCS particularly compelling and unique because it is not a people practice developed to support the business strategy. Rather, it is a business strategy that is built upon empowering employees to drive high performance and add unique value for customers. In essence, building people is the fundamental business strategy at the company.
  12. HCL Technologies used what they do best – computing – to create many innovative and impactful platforms to engage and empower employees. One of the first initiatives HCL embarked on was the "U&I" portal. This online forum allowed HCL employees in every country, from the most junior staff to the CEO, to post any question they had about the organisation. All exchanges are visible to all employees. The U&I portal helped create a transparent culture that builds trust within HCL. In addition, the open interaction also fostered a collaborative mindset and enable employees to draw insights from their colleagues, and come up with their own solutions to address the challenges of the day.
  13. The EFCS philosophy has proven to be very effective in transforming HCL and helping it to build competitive advantage. Since the EFCS was introduced in 2005, HCL Technologies had tripled its annual revenues, doubled its market capitalization and expanded its employee's base four-fold. It is now one of the fastest-growing and profitable global IT services companies globally.
  14. The second winner, Manila Water Company, is an inspiring model of a successful public-private partnership, providing quality water and wastewater services to over six million customers in Metro Manila. Since starting operations in 1997, Manila Water transformed a failing local water provider into a globally recognised water services operator by investing in its people.
  15. Manila Water Company put in place various initiatives to create a professional merit-based organisation, significantly improved workplace conditions and upgraded employees' skills and managerial capabilities. Employees were empowered to implement innovative and efficient solutions which not only improved the business, but also the lives of the communities they serve. For instance, a major challenge they faced was the illegal tapping of water by the low-income communities. Manila Water came up with an innovative solution by teaching the residents basic skills of managing their own water system. Not only did this provide them with additional income to pay for water, the residents now take responsibility to protect their water service connections thus becoming Manila Water's business partners.
  16. Over the years, Manila Water Company has achieved tremendous progress. Public satisfaction is at 100% for the past 3 years and employee attrition is low at 3%. The number of household it serves has quadrupled and the organisation has gone from being in debt to registering strong and sustained profit growth.

    Announcement of Special Commendation Prize Recipient
  17. Next, I would also like to congratulate Unilever Asia as this year's sole recipient of the Asian Human Capital Award Special Commendation Prize.
  18. The judges were impressed by the strong commitment and investments by Unilever's top management to build talent, and the holistic suite of talent development practices to support Unilever's growth plans. Covering an expansive region including Asia, Africa, Middle East, Central and Eastern Europe, the HR team was able to consistently implement effective talent programs aligned to the overall business, while at the same time allowing flexibility for regional offices to customize people practices to address local needs.
  19. Unilever Asia's commitment to talent development is further demonstrated by the setting up of its second global leadership development centre, "Four Acres", in Singapore at Nepal Hills. The centre will significantly strengthen Unilever Asia's leadership development capabilities in Asia and globally.
  20. All three winning organisations have compelling Asia-centric people practices which are good learning examples for organisations in Asia. We will have the pleasure of hearing them share their experiences and insights at the Summit today.

    Conclusion
  21. Through the Asian Human Capital Award, we will continue to uncover and celebrate such exemplary and world-class people practices which created significant business impact. I encourage every organisation to leverage on next year's Asian Human Capital Award. Not only will your practices position your organisation as a model people developer in Asia, the sharing of your experience and success will inspire the next wave of innovation in cutting edge human capital practices.
  22. I would like to thank our Award partners and all organisations who had submitted entries, for helping to push the boundaries of human capital development in Asia.
  23. Let me end by stating again that our people are at the heart of our organisations. And for that matter, our people are at the heart of our nation. If our people are well led, nurtured and looked after, the rest will sort itself out.
  24. On that note, I wish you an enjoyable and fruitful day ahead. Thank you.