In the previous article, Linh Do,  Head of Professional Services at The KPI Institute Vietnam, highlights the geopolitical, environmental, and economic challenges that impact Southeast Asia. Understanding these factors is crucial for grasping the local dynamics and uncovering regional growth opportunities. In this article, Linh will delve into potential measures that can be implemented to enhance performance management in the region. 

Improving performance management in Southeast Asia involves diversifying their supplier base, investing in innovation, enforcing sustainable practices, leveraging AI technologies, and upskilling employees.

Implement risk management strategies. To mitigate the further impact of global recession and trade disruption, companies should pay attention to risk management in planning their strategy and manage them accordingly. This begins with implementing proactive risk assessment measures to identify potential threats that might negatively affect their business and the weaknesses within their operation that might strengthen those impacts. Subsequently, companies can employ various remedies to address these vulnerabilities. Organizations can secure a steady supply of raw materials by evaluating alternative sourcing options, establishing backup suppliers, and exploring local or regional partnerships while mitigating the risks associated with production delays and cost fluctuations.

Capture and manage the impacts on ESG-related matters. Businesses will need to manage this aspect through effective strategy planning associated with performance management practices, such as setting objectives to identify opportunities for sustainable business growth, reduce carbon footprints, and implement sustainable supply chain practices. Some KPIs to consider may include # Initiatives to promote environmental responsibility,  % Current production lines that are environmentally friendly, and % Energy produced from renewable sources.

Adjust performance management practices to stay productive in the new work arrangement. To ensure remote workers remain engaged and productive while maintaining a sense of connectedness and collaboration with colleagues, companies like Lazada have implemented remote work policies, providing online training programs and running digital Employees Net Promoter Score surveys to support their engagement and professional development. In addition, companies should move the focus from measuring process KPIs such as # Work hour to finish a task to more output and value-oriented KPIs such as # Tasks done on time that meet the requirements.

Utilize new technologies effectively. An excellent example of this is companies like Grab and DBS Bank have implemented AI technologies to streamline operations and improve customer experiences. To succeed in AI implementation, companies need clear performance metrics. Depending on their goals, such as cost reduction or lead time improvement, relevant KPIs can be used, like % cost saved or # lead time using AI technology.

Identifying the optimal approach to maintain resilience in this highly dynamic environment is challenging, yet managing them to ensure relevancy and effectiveness is even more arduous. Therefore, it is important to equip yourself with comprehensive knowledge and skills to facilitate these processes. 

Elevate your competitive edge by enrolling in The KPI Institute’s Certified Strategy and Business Planning Professional and Certified Performance Management Professional courses, allowing you to gain insights into these subjects and maintain a leading position in your field.

Linh Do, Head of Professional Services at The KPI Institute Vietnam, shared insights regarding macroeconomic trends and their worldwide influence on performance management practices in the 2023 Business Pulse: 5 Trends Impacting Strategy and Performance Management webinar. In a two-part series of articles, she delves into the trends impacting Southeast Asia and explores potential measures to strengthen performance management in the region.

Identifying the economic, environmental and geopolitical issues affecting Southeast Asia is crucial for understanding its local dynamics and opportunities for growth. Here are some of the emerging trends affecting the region’s landscape.

The global recession.  The ongoing trade crisis between the US and China has led to disruptions in the supply chain: delayed production, longer delivery times, and a lack or excess of stock of specific materials. The region’s trade is correlated with industrial production cycles and any downturn or recession in the global economy, which will affect the market. 

The role of Environmental, Social and Governance (ESG) in strategy planning. ESG is another point worth mentioning and has received a lot of attention lately. In 2023, 30% of companies in ASIA-based 2000 (A2000) capture ESG-related goals in their strategy, and this figure is expected to rise to 40% in 2024. Moreover, third-party assessments will heavily consider ESG factors, with approximately 20% of A2000 companies prioritizing these risks over security, financial, and operational risks. This change is driven by the transition of sustainability performance disclosure regulations from voluntary to mandatory, demonstrating the region’s strong commitment to fulfilling the United Nations’ 17 Sustainable Development Goals by 2030.

The shift in work culture. This shift impacts performance management practices in SEA. Traditionally, the region has been characterized by a culture of long working hours and a focus on face-to-face interactions. However, as work culture continues to shift towards remote work and flexible working arrangements, this could significantly change how businesses operate and manage performance in the region. 

The rapid advancement of artificial intelligence (AI) technologies. This is another trend impacting performance management practices in SEA as companies in the region started utilizing AI to reduce heavy labor costs and stay up-to-date with market developments. However, this will also require upskilling employees to utilize these technologies effectively. 

Adapting to changes and emerging trends in managing performance will be challenging, and there is no one-size-fits-all solution. However, some techniques can fast-track and make the process easier for organizations. If you would like to learn about them, join The KPI Institute’s Certified Performance Management Professional course to stay ahead in the race!

In recent years, businesses have placed a greater emphasis on sustainability. However, pursuing sustainable business as a primary strategy differs from merely engaging in sustainable practices. The Performance Magazine Issue No. 25, 2023 – Sustainability Edition presents in-depth analyses and practical perspectives on the latest issues and trends in incorporating sustainability into operations and strategies. 

Moreover, this issue provides guidance for organizations looking to successfully adopt sustainable practices as well as the challenges and opportunities involved in the process. 

Gracing the cover of this issue is  Eelco van der Enden, chief executive officer (CEO) of Global Reporting Initiative. He shared updates on sustainability reporting practices worldwide, discussed the importance of the participation of small and medium-sized enterprises (SMEs) in sustainability reporting, and emphasized how sustainability creates value for stakeholders and becomes crucial for long-term success.

Readers will also gain valuable insights on how to foster a culture of sustainability in organizations through exclusive interviews with sustainability experts from different companies, such as Kearney, Almarai Group, FIFA World Cup™, and Accenture. 

Furthermore, experts from The KPI Institute will provide answers to pivotal sustainability questions affecting organizations today:

• What are the key drivers of sustainability in organizations, and what role does the performance management system play in creating a sustainable organization? 
• What KPIs are a MUST in reporting sustainability matters? 
• How can an organization create meaningful sustainability reports?

The magazine includes articles highlighting best practices in strategic planning, strategy execution, employee performance, benchmarking, data analysis, and data visualization. Moreover, the latest edition now includes a new section called Career Insights, which features the article, “The power of process thinking for performance management professionals.” Additionally, readers can access a variety of informative resources on strategy and performance management in the Recommended Resources section.

To expand your knowledge on sustainability as part of strategy and performance management, be sure to check out the latest issue of Performance Magazine. You can download the digital version through the TKI Marketplace or order a printed copy from Amazon.

 

Employee motivation plays a vital role in the success of any organization as motivated employees tend to be more engaged, productive, and committed to achieving their objectives. One way to increase employee motivation is through recognition programs such as the Employee of the Month award.

According to a survey, 83% of employees are driven to work harder when being recognized for their job. It shows that rewarding employees for their efforts can efficiently boost employee productivity and self-esteem.

The TKI People Awards series features the employees and teams recognized by The KPI Institute (TKI) for going above and beyond expectations, excelling as team players, and creating a tremendous impact on the company.

The recipients of the TKI Employee of the Month award in December 2022 shared in an interview their thoughts about the recognition and their best TKI work-related accomplishments. Discover how they overcome obstacles at work and be motivated as they analyze the three most important lessons they have discovered in their careers.

 

 

Herdiana

Senior Research Analyst 

ILMS

 

1. What does receiving the Employee of the Month award mean to you?

Receiving the Employee of the Month award is a reminder of my work’s impact on the people around me, and it motivates me to continue making a positive difference.

2. What is your favorite accomplishment so far at TKI?

I do not have any specific accomplishments to share at this point but I am excited about the potential to contribute to the organization’s success in the future. I have been learning a lot and building relationships with my colleagues, and these experiences will serve as a strong foundation for future accomplishments.

3.  When you are faced with a challenge at work, how do you find a solution?

When faced with a work challenge, I carefully assess the situation and gather as much information as possible. Once I clearly understand the problem, I identify potential solutions and weigh the pros and cons of each. Then, I select the best option and develop a plan for implementing it.

4. What would be the three main career lessons that you have learned thus far?

• Adaptability: another crucial lesson I have learned is the importance of adaptability in the face of changing circumstances. The workflow constantly changes, and the ability to transform and adjust to changing circumstances is critical, especially when learning new skills, taking on new responsibilities, or adjusting to a new work environment.
• Continuous learning: finally, I have discovered that continuous learning is essential, especially in a working environment with little experience. We can continue to grow and develop personally and professionally by remaining curious and open to new ideas.
• Communication: effective communication is one of my most important lessons. Clear and concise communication is essential when communicating with colleagues for building trust, managing expectations and ensuring that everyone is on the same page.

 

 

Annisa Alifindira

Business Research Analyst

Partnerships Department

 

1. What does receiving the Employee of the Month award mean to you?

The Employee of the Month award means a lot to me because my work and capability were acknowledged and appreciated.

2. What is your favorite accomplishment so far at TKI?

I am still aiming for a much better accomplishment every day. So far, receiving the Employee of the Month award is one of my favorites.

3. When you are faced with a challenge at work, how do you find a solution?

It is essential to focus more on the challenge at hand to pull out a lot of resources. It is important to focus on the challenge at hand to allocate resources effectively. A concentrated mind and energy will often result not only in one or two solutions.

4. What would be the three main career lessons that you have learned thus far?

First, communication and double-checking are essential. Second, be quick in responding to problems. Lastly, do not hesitate to appreciate your colleague’s hard work.

 

 

Arraghib Nizham 

Videographer

Biodigy

 

1. What does receiving the Employee of the Month award mean to you?

I felt deeply touched and lucky when I received the Employee of the Month award, which shows that many people support me.

2. What’s your favorite accomplishment so far at TKI?

Every time I finish my task, it is an accomplishment for me.

3. When you are faced with a challenge at work, how do you find a solution?

The last time I faced a challenge at work, I tried to do it myself and work overtime. But there are better ways. I realized that I should ask for help from others because others’ gear moved the vision.

4. What would be the three main career lessons that you have learned thus far?

The primary career lessons I have learned are work-life balance, discipline, and always learning.

 

 

Malek Ghazo

Management Consulting

Consulting Department

 

1. What does receiving the Employee of the Month award mean to you?

The Employee of the Month award is a recognition and empowerment with a better sense of belonging to a culture that acknowledges involvement and engagement as drivers for success.

2. What is your favorite accomplishment so far at TKI?

Solutions by STC Audit and SDAIA training project are my favorite accomplishments.

3. When you are faced with a challenge at work, how do you find a solution?

When I face a challenge at work, I often approach the different individuals at TKI; seek advice and support from them.

4. What would be the three main career lessons that you have learned thus far?

The three main career lessons learned are: (1) recognition is unavoidable, (2) collaboration and engagement are essential, and (3) lessons learned are essential to success.

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