For those seeking insight into the latest compensation and benefits (C&B) strategies and how they can be used as drivers of employee attraction and engagement, there’s no better place to be today than the Classified Post HR Conference.
Taking place at the Hyatt Regency Hong Kong in Tsim Sha Tsui, the conference will see professionals from across the HR and wider business spheres come to hear experts talk under the theme “Compensation and Benefits: Redefining HR Thinking”.
Stephen Sui, the government’s secretary for labour and welfare, will deliver the conference’s opening speech, followed by keynote speaker Professor S. Noorein Inamdar, associate professor of practice in management at CUHK Business School, giving insights on using cultural C&B strategies to motivate employees.
“In a global work environment, culture is the link between C&B design and employee motivation,” Inamdar says. “C&B design must be culturally tuned to effectively motivate a global workforce to achieve high performance. Research has found that the most satisfied employees are found in countries where motivational programmes are compatible with, and supportive of, local cultures.”
Simon Gluyas, employee insights practice leader for talent and rewards at Willis Towers Watson, will then talk about how the “robo-gig” economy is changing the expectations of both employers and employees.
“Organisations are beginning to deconstruct jobs into distinct tasks and evaluating how those tasks can be completed in the most cost-effective manner,” Gluyas says. “This includes the role that artificial intelligence and robotics can play, as well as the wide range of labour sources now available. This requires a re-evaluation of C&B strategies, particularly for so-called non-traditional employees.
“In the context of this new economy, organisations need to have a strategy in place for what the future looks like and how it will affect their workforce. Equally important is for them to understand the skills and perceptions of employees in this time of rapid change.”
In the conference’s case study segment, Dr Alexander Chiu, chief operating officer at Gleneagles Hong Kong Hospital, will highlight how medical packages form an integral part of employee benefits.
“The increasing cost of medical claims in recent years has become a tough challenge for many companies,” he says. “Medical packaged services, where one predetermined fee is offered to all-inclusively cover one episode of care, may be the solution.”
Such a service implies a single payment to cover, from admission to discharge, everything from surgical fees and room charges to diagnostics, nursing care and medication. “Medical packages can therefore give a better picture to C&B managers as to what they are paying for and allows them to budget better.”
A panel discussion hosted by Ginn Fung, Education Post and Jiu Jik editor at South China Morning Post Publishers, will see Inamdar, Gluyas and Chiu go into detail on the best ways in which company culture can be linked to C&B. Then a pre-lunch networking session will allow attendees to exchange their own ideas with each other before the afternoon session starts with Thomas Lee, chief corporate solutions officer at AIA Hong Kong and Macau, talking about how to redefine rewards strategy through employee benefits optimisation.
“The employee benefits market is evolving from conventional, protective support to continuous, preventative and comprehensive care,” Lee says. “Employees have different needs at different life stages, and they are always changing. So when it comes to employee benefits, the decision-maker should not be limited to employers, but include employees themselves.”
According to AIA’s 2016 Healthy Living Index, Hong Kong ranked last out of 15 Asia-Pacific markets. “There is an urgency for employers to adopt preventative measures to raise awareness on healthy living among their employees,” Lee says. “A holistic employee benefits solution helps in the cutthroat competition for talent, while helping employees live longer, healthier and better lives.”
Turning to retirement matters, Stephen Fung, chief executive officer of AIA MPF, will explain how MPFs can be more than just an employee benefit and can also pay dividends for HR departments. One thing he will focus on is how voluntary contributions have the potential to help retain talent.
“According to the AIA MPF Desired Retirement Tracker survey, over 50 per cent of employee respondents see voluntary contributions by employers as a pay rise and 70 per cent believe their sense of belonging would increase if their employer made voluntary contributions for them,” Fung says. “This suggests that voluntary contributions can help a company keep its talents and ultimately strengthen its business.”
To get attendees’ bodies working as hard as their brains, Fung’s talk will be followed by a short energising yoga break before the last two presentations of the day, which will focus on wider HR and business issues.
Andy Ann, founder and CEO of NDN Group (HK), will begin by talking about the importance of digital transformation in a world where fast-moving start-ups are disrupting established industry leaders. Echoing the AI theme, he will explain how many roles will soon be eliminated, especially in customer services.
“It’s time for everyone to uplift their skills and knowledge and adapt to rapid changes in technology,” Ann says. “It’s time for corporations to integrate digital into the entire business environment. Everyone should collaborate and embrace technology together. This is no longer just an issue for the IT department.”
Also drawing on the effects of changing technology, Divya Gopalan, principal consultant on media training and crisis communication for CP Learning, South China Morning Post, will elaborate on how media and crisis communication skills are critical for both HR and wider business roles.
“Businesses are being scrutinised more than ever across unprecedented numbers of media outlets,” she says. “An interview or comment can be immortalised on the web and with the speed of social media, there often isn’t enough time for damage control when a crisis occurs.
“The media can be your best friend and worst enemy. Executives need to position themselves in way so that people take notice of the message they want to send about the company.”
If you weren’t able to come today, make sure to put 15 June, the date of the next HR Conference, in your diary.
CONFERENCE ITINERARY
Opening Speech
STEPHEN SUI
Secretary for Labour & Welfare, HKSAR Government
The Use of C&B to Motivate Employees
PROFESSOR S. NOOREIN INAMDAR
Associate Professor of Practice in Management, CUHK Business School
The Robo-gig Economy: Understanding Employer and Employee Expectations
SIMON GLUYAS
Employee Insights Practice Leader, Talent & Rewards, Willis Towers Watson
Use of Medical Packages in Employee Benefits
DR ALEXANDER CHIU
Chief Operating Officer,
Gleneagles Hong Kong Hospital
Panel Discussion: How to Link Company Culture to C&B?
PROFESSOR S. NOOREIN INAMDAR, SIMON GLUYAS and DR ALEXANDER CHIU
Moderator: GINN FUNG, Editor, Education Post and Jiu Jik, South China Morning Post Publishers
Redefining Rewards Strategy by Employee Benefits Optimisation
THOMAS LEE
Chief Corporate Solutions Officer, AIA Hong Kong and Macau
How MPF Goes Beyond Being an Employee Benefit and Favours HR
STEPHEN FUNG
Chief Executive Officer, AIA MPF
Virtual Becomes Reality: Transforming Employers and Business Digitally
ANDY ANN
Founder and CEO, NDN Group (HK)
How Media and Crisis Communication is Critical for HR Function, to Staff and Business
DIVYA GOPALAN
Principal Consultant, Media Training and Crisis Communication, CP Learning, South China Morning Post
