The relationship between people’s growth and business growth seems evident enough, but short-term financial pressures cause many companies to overlook their interdependence. Business growth cannot be sustainable if the employees’ true needs are not satisfied – companies must build on a value proposition that keeps employees engaged, and therefore customers happy.
In the newly published “Maximizing Human Capital in Asia: From the Inside Out” (ISBN: 978-0-470-82479-5; John Wiley & Sons (Asia) Pte Ltd), author and recently retired Senior Vice President of HR for Philips Greater China and Asia, Elizabeth Martin-Chua, examines the concepts, strategies and solutions to harness the full potential of an organization’s people assets.
Drawing from the author’s many years of experience at the helm, this book takes a close look at HR in Asia – paying close attention to the need to synergize Eastern and Western schools of thought into the decision-making process in order to develop a HR strategy that accurately reflects the diversity of Asia. The author recommends three approaches: ‘Global for Local’, ‘Local for Local’ and ‘Local for Global’. The first is having a mindset of a global framework allowing for local customization when necessary. The second is encouraging local for local initiatives to capitalize on local advantages. The third is sharing best experiences and strengths for global benefit.
In the case of talent management, Dr. Martin-Chua strongly advocates diversity and inclusion, in order to take advantage of the strengths of the talents that come from different cultures – hence maximizing the company’s human capital, from the inside out.
A comprehensive and well reasoned HR book written for Asia by a seasoned practitioner, this book will be an important read for all managers who operate businesses in Asia.
About the Author
Throughout her career, Elizabeth Martin-Chua has advocated building an employee value proposition that comprises of good leadership, a clear corporate culture and four pillars: talent acquisition, people and talent development, performance management and rewards management, complete with performance indicators to ensure results.
Elizabeth joined Philips Electronics Singapore in 1971, and worked through the ranks of human resources (HR) management. In 1993, in addition to her Singapore role, she assumed the global human resource management responsibilities of the company’s audio business. She was also the founder of Philips Asian Talent Pool and its Diversity and Inclusion Champion for Asia. In 2006, Elizabeth relocated to Shanghai and was appointed Philips Senior Vice President (HR) for Greater China. In the subsequent year, she also took on the HR coordination role for Asia.
In the field of human resources, Elizabeth’s primary interest is to help an organization grow talent and reduce human capital wastage by utilizing its human capital as a competitive advantage. In this respect, she firmly believes that businesses grow when people grow and with that conviction advocates people development, talent management, leadership competencies, employee engagement and succession planning.
In 2002, Elizabeth was conferred a PhD in Management for her thesis on Outsourcing in HR from the University of South Australia. She was named best HR Director in Singapore in 2005 and won the Robert Walters Award. In 2006, Philips Electronics Singapore was named the Best HR Team, and in the subsequent year, Elizabeth was presented the Convergys Award for Outstanding Contributions to HR. These accolades were organized by HRM Singapore.
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