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THE IMPORTANCE OF HUMAN POTENTIAL
GSM 5500
PRESENTED BY :-ANIZA AHMAD BESTAMAN PBS1311262KHAIRUNNISAH MODH THIYAHUDDIN PBS1311085NORFARSHA BT MOHAMMAD PBS1331340ROZIANA MOHAMMAD PBS1331432
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PRESENTATION OUTLINE
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Introduction and History
Basic Assumptions/Scope of Human Potential
Understanding the Human Potential and its Key Challenges
Human Potential from Malaysia Perspective and Way Forward
Conclusion
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SECTION 1 –INTRODUCTION OF HUMAN POTENTIAL
AND ITS HISTORY
DEFINITION:
INTRODUCTION OF HUMAN POTENTIAL
To develop intellectual,
physical and spiritual aspects
in order to reach human
potential.
To express talents and
abilities for the enrichment
and benefit others.
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Abraham Maslow
The theory was started 1954.
The hierarchy of needs includes five motivational needs.
The purpose was to promote the idea that humans can experience an exceptional quality of life filled with happiness, creativity and fulfillment when they strive to reach their potential.
HISTORY
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Human life will never be understood unless its highest aspirations are taken into account. Growth, self-actualization, the striving toward health, the quest
for identity and autonomy, the yearning for excellence (and other ways of phrasing the striving “upward”) must by now be accepted beyond question as a
widespread and perhaps universal human tendency … (Maslow, 1954, Motivation and Personality)
MASLOW’S HIERARCHY OF NEEDS
1. Biological and Physiological needs - air, food, drink, shelter, warmth, sex, sleep.
2. Safety needs - protection from elements, security, order, law, stability, freedom from fear.
3. Love and belongingness needs - friendship, intimacy, affection and love, - from work group, family, friends, romantic relationships.
4. Esteem needs - achievement, mastery, independence, status, dominance, prestige, self-respect, respect from others.
5. Self-Actualization needs - realizing personal potential, self-fulfillment, seeking personal growth and peak experiences
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Maslow found:
• Result :
They have an appreciation for what life has to offer, a deep concern for others and are able to enjoy close, meaningful, personal relationships
self-actualized
Creative + spontaneous + good sense of humor uncertainty
HISTORY
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• These behaviors include:
Maintain the curiosity, attention and wonder you had as a child.
Be open-minded and try new things.
Be honest and be willing to risk unpopularity if you disagree with others.
Use your intelligence and work hard at whatever you do.
Find out who you are, what you want and what's important to you.
Don't be afraid to open yourself up to new experiences.
Take responsibility for your life and your actions.
Human potential behaviors
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Philosophy
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SECTION 2 –BASIC ASSUMPTIONS/
SCOPE OF HUMAN POTENTIAL
Basic Assumptions / Scope of Human Potential
Quality of service is equal to mind-set
employee with quality will produce or deliverquality service
employee with zero defect thinking andperforming will produce highest quality ofoutput
Efficiency and effectiveness of service is equal tothe function of an organization.
organization can maximize performances bycombining highly empowered managementsystem with competent employees
Good management system and competentemployees will maximize an organizationperformance
Tao Te Ching of Leadership : “All power andeffectiveness come from knowing the howand acting appropriately”
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Basic Assumptions / Scope of Human Potential (cont’d)
Ultimate object is creating “environment ofexpectation” for personal and professionalgrowthEmployees are clarified for their goals and roles so
that they could unlock their potential.
As such they would create the environment to reachthe goals
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Basic Assumptions / Scope of Human Potential (cont’d)
Ultimate success is equal to organization success interms of professional, interpersonal, technical andcultural.The way team acts and get things done together, their
engagement, commitment and satisfaction will lead toorganization success
This means that “internal success = external success”Gallup Research on
employee engagement
(presentation by Joanna Barclay for
Canadian Chamber of Commerce, Feb 2015)
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Basic Assumptions / Scope of Human Potential (cont’d)
Achievement for growth by an employee willresults in the global success of the businessEach achievement by employees in the organization will
ensure the success of the overall business
Employees that maximizes their potential will showdifferent results and growth
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SECTION 3 –UNDERSTANDING THE HUMAN
POTENTIAL AND ITS KEY CHALLENGES
Human Resources Vs Human Potential
J. B. Barney
Human resources include all of the experience, skills, judgment, abilities, knowledge, contacts, risk taking, and wisdom of the individuals associated with an organization“83, [2001, p. 50].
A. Kachaňáková
The human potential does not involveonly the number and structure ofemployees, but also such aspects as theeducation and culture, the humanrelationships, the ability of cooperation,the perception of social and ecologicfactors of environment, etc. Thepurposeful forming and utilization of thehuman potential is an assumption of abuilding and development of thestrengths and competitive advantages ofthe organization “86, [2003, p. 10]
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Issues and Challenges
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Knowledge and Skill
Infrastructure & Social
Challenges
RegulatoryLanguage &
Culture
Training Format
Human Potential as a Competitive Advantage
• Human Potential will be the primary source ofCompetitive Advantage in almost every industry (DrAbraham Maslow, 1960)
• To create workforce that provide competitiveadvantage requires the firm to create an environmentthat provide knowledge, motivation, engagement thatwould be difficult for competitors to imitate (Afioni2007; Agarwal & Ferret, 2001; Luftman & kempaiah2007)
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Strategic Goal To Sustain Competitive Advantage
Invest in People
Develop Intellectual
Capital
Preferred behaviors
Engaged Employees
Employees Commitment
Elements of Human Potential
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SECTION 4 –HUMAN POTENTIAL FROM MALAYSIA
PERSPECTIVE AND WAY FORWARD
Those aged 15 – 34 make up the biggest portion of the population (10.8 million or 38.2% of the population). Currently, Malaysia population stands at 30 million.
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Petronas remains as the top pick company by Malaysians and followed by Shell and Google
18%
14%
8%
3%
3%
Source : Jobstreet, July 201422
Consistently, Petronas is the choice for Gen Y, followed by Bank Negara and Google
Source : http://www.humanresourcesonline.net, June 2014
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The top companies young Malaysians want to work for • Based on the survey carried out amongst 11,000 university students, Petronas remain as a choice of company for engineering and natural science students, whilst Google is a top pic for those who are studying humanities.
• Average salary expected RM3,258 (upon graduate)
• Importance of work Work life balance (65%) Be stable and secured in a job (50%)
• Across region, Gen Y key motivation to work is high future earnings and career advancement opportunities
• 90% prefers local vs foreign companies
• 40% intent to stay in a company within 5 years, whilst 7% plan to stay less in a year
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Snapshop of the GEN’s characteristics
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To leadGEN-Y: flexibility, creativity, make work fun, cut short the time and bureaucracy forpromotion, provide gadget and technology, give immediate feedback and have mentor-mentee system
GEN-X: Provide stability, security, give recognition and reward, explain how personalobjectives can be met, provide training and development
BABY BOOMERS: Give appreciation, respect, recognition and reward, encouragecontribution and being part of the team, and listen to them.
Core values and belief systems of the Gens
Source : The Star, Feb 2014
Understanding the different GEN’s…
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Leaders of the Gen’s
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Barrack Obama4TH Aug 1961
Gen X
Najib23rd July 1953Baby Boomer
Mahathir10th July 1925Traditionalist
Anwar Ibrahim10th Aug 1947Baby Boomer
Lee Kuan Yew16th Sept 1923Traditionalist
Tony Fernandes30th April 1964
Gen X Donald Trump16th June 1946Baby Boomer
Khairy Jamaluddin10th Jan 1976
Gen X
Nurul Izzah19TH Nov 1989
Gen Y
The next Generation…Gen Z?
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Way Forward of Reaping the Human Potential in Malaysia (1/3)
1. Understanding and Appreciation of Gen Y
• Think differently• Led by inspirational and visionary leaders• Starting taking leadership roles but unprepared
Initiate and implement creative solutions to educate, integrate and retain the rapid ranging of working population
2. Talent Retention Strategy
• Crucial for HR to retain talent to the best of the company’s ability – retain high performers
• Competitive package – Not only focus on financial benefits but also other soft package elements i.e. incentives
• Challenge to retain Gen Y Benchmark against other companies on their offeringsCreate a superior workculture where employees have friends, are engaged in their work and get perks that they can call ‘HOME’
3. Mobile hiring and mobile job search explode
• Conventional job advertisement is less preferred• Utilising Social Media will allow company to reach out for right
incumbent• Other technology means i.e. email, video conference, allow the
employers to liaise directly and engage with the talent
Optimise websites and creating more mobile apps to connect with talents via virtual platforms like LinkedIn, Facebook, Twitter, Blogs and other online recruitment technologies.
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Way Forward of Reaping the Human Potential in Malaysia…(2/3)4. A more transparency Management
• Embrace the transparency as the younger generation demands for an ‘honest’ Management - Abolish burecratic management
• They expect leaders to be inspiring, educating and able to instill trust through honesty
Social media will be pushing the companies to be more open and for leaders to share more of their activities. E.g Dialogue session with employees, nasi lemak session of 7 selected staff to understand the internal problems, communicate directly with Management via Twitter
5. Skill gap continues to widen
• Widen skill gap – most recruiters had difficulties finding the qualified candidate
• Gap in education curriculum with the skills required at job place
Engage with college/universities to ensure the students and potential talents get the right skills to fill the gap. Eg Put up investment to engage and nurturing the potential talents
6. Succession planning becomes a top priority
• Needs to develop as the Baby Boomers begin to retire• Transfer knowledge to the young generation is highly critical and
retirees are continuing working
Continue developing ways to attract and retain the seniors so that they can be utilized mentoring the younger workers. Eg recruit them as an advisor or consultant to the team so that the knowledge can be passed on. 29
7.Women continue to seize power positions in the workplace
• Government’s aspiration to increase the participation of women in the Malaysian workforce to 55% by 2015, the Women, Family and Community Development Ministry, have taken steps to achieve this goal.
• With trends such as couples not having children, delayed adulthood, more women attending college, no doubt there will be more women leaders in Malaysia Corporate World.d
Efforts in promoting women’s participation at work including making more career options available to them to suit their family and lifestyle needs.
8. Preference of hiring temp workers and part timers
• Got hired because they are cheap and they are not entitled to any company’s benefits.
• Easy to find them online, they will grow further
Need to find ways to make them feel part of the company, rigorous recruitment process, reward the high performing part timers as to retain them for future work.
Way Forward of Reaping the Human Potential in Malaysia…(3/3)
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CONCLUSION
Knowledge and intellectual capital is becoming a crucial resourcefor companies. Its complemented with the use of information andcommunication technologies as an enabler to conduct thebusiness.
To sustain in the future, companies must realize that traditionalfactors of production - land, labor and capital no longer have theedge in terms of competitive advantage as compared toharvesting and acquiring talent.
Attracting the Malaysian millennial (Gen Y) to stay long in thecompany is a challenge. Understanding their needs andoptimizing the technology to the benefits of everyone would givegreater advantage to both, i.e. to retain great talents and to workwith most desirable company.
In a nutshell..
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