[26 March 2003]
Mercer Human Resource Consulting, Singapore
Business Federation and Singapore Management University
launch joint initiative to promote Human Capital
Management
Facilitated by the Singapore
Economic Development Board (EDB), the initiative
aims to groom Asian leaders for the new, business-oriented
HR function
Mercer Human Resource Consulting
(Mercer), the Singapore Business Federation (SBF)
and Singapore Management University (SMU) have today
signed a memorandum of understanding (MOU) to jointly
promote the advancement of strategic Human Capital
Management (HCM) in Singapore. This collaboration
was developed and facilitated by the Singapore Economic
Development Board (EDB).
In today’s high-performance
organisations, the human resource (HR) function is
being redefined to meet changing business needs.
HR leaders now need to adopt the role of the strategic
business player. They need to be able to link business
goals and HR practices innovatively to drive the
implementation of new human capital management approaches,
effective intra-organisational change leadership
and outstanding business performance.
Mercer, SBF and SMU realise that
this specific HCM capability is unrecognised by many
Asian organisations, thus impacting business performance.
The three organisations have decided to leverage
their respective strengths – Mercer, with its
HR consulting experience, SBF, with its business
links, and SMU, with its academic and research exposure – to
extend and promote HCM capabilities among Asian HR
professionals and executives.
Integral to this initiative is the
Strategic Human Capital Management programme. Targeting
senior HR leaders in Singapore and other ASEAN countries,
the six day programme is unique in that it focuses
not only on globalisation and Human Capital issues,
but also on the “Asianisation” of HCM
theories and practices. Through action research,
participants are encouraged to explore best practices
in their organisations and the region, and explore
how HCM theories and models are best implemented
within the Asian context. Led by Programme Directors
Associate Professor Thomas Menkhoff and Ms Elisa
Hukins, the teaching team will comprise SMU faculty
members, Mercer consultants, as well as business
and industry players.
“The investment companies
make in their human capital is the biggest expense
they know least about. We have moved beyond the control
of the personnel function and are extending the horizon
of the HR function. Today’s world needs a business
that lets us maximise the return on our investments
and provide a better basis to manage people in the
new millennium,” said Hugh
Bucknall, Asia Practice Leader for Performance, Measurement
and Rewards, Mercer.
“We believe the Strategic
Human Capital Management programme will help its
participants better understand, develop, implement
and quantify the effectiveness of human resource
programmes and policies that create measurable improvement
in business results for their employers. Importantly,
it will achieve this within an Asian context. Human
capital management presents difficult challenges
to begin with. A special emphasis on human capital
management is required in Asia, where language and
culture pose challenges to naïve, one-size-fits
all approaches,” said Rich
Nuzum, Managing Director, Mercer.
“One of the key recommendations
of the Economic Review Committee is enhancing human
capital management. SBF believes the timely launch
of this program will help raise the capabilities
and professionalism of HR practitioners,” said
Mr Stephen Lee, Chairman, SBF.
“It is timely to introduce
such a programme here and in the region. SMU brings
to the table programme design and delivery expertise,
and in particular, a team of committed faculty members
who are absolutely passionate about the subject of
human capital management. We hope Asia HR practitioners
will rise up to the challenge of their evolving roles
within the business world,” said Professor
Ronald Frank, President, SMU.
Added guest-of-honour at the event,
Mr Teo Ming Kian, Chairman, EDB, “This collaboration
between Mercer, SBF and SMU harnesses the collective
knowledge of industry, academia and HCM thought leaders.
The initiative to develop HCM knowledge on Asia will
provide a new competitive capability for businesses
in Singapore that are actively expanding into Asian
markets. It will create new understanding and knowledge
about HCM in Asia and help provide the critical high
quality managerial resources to local and foreign
investors here. It will also contribute to Singapore's
development as an education and training hub under
our global school house strategy.”
Subsequent activities planned as
part of the HCM initiative include field visits,
research and development projects, creation of a
public website/extranet for alumni, mentoring between
industry leaders and novices, and internships.
For more information on the Strategic
Human Capital Management programme, you can enquire
with Ms. Christina Ong, SMU at (65) 6822 0375 or
visit the SMU
website.
About Mercer Human Resource
Consulting
Mercer Human Resource Consulting, one of the world’s
leading consulting organisations, helps organisations
create measurable business results through their
people. With more than 13,000 employees in 40 countries
worldwide, the company is part of Mercer Inc., a
wholly owned subsidiary of Marsh & McLennan Companies,
Inc., which lists its stock (ticker symbol: MMC)
on the New York, Chicago, Pacific, and London stock
exchanges.
About Singapore Business
Federation
The Singapore Business Federation (SBF) is a new
organisation formed on 1 April 2002 to serve as the
apex business chamber in Singapore. SBF aims to advance
and promote business networking and co-operation
amongst business communities in Singapore and abroad.
SBF would also represent the Singapore business community
in multilateral, regional and bilateral business
bodies.
The objectives of the SBF are:
-
To enhance the organisation of the business
community in Singapore.
-
To promote the interests, welfare and advancement
of the companies locally and internationally,
and address the major business concerns (such
as investment and trade opportunities and labour
management issues) of business entities carrying
on commerce and industry in Singapore
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