Put team calibration on the agenda

THE SUCCESS of a business essentially depends on the capability of its team. 

At the beginning of a fiscal year, most companies will come up with a new strategy for business growth, project development, efficiency improvement and other areas. 

All the plans need proper and effective execution. There are many cases of companies not able to move forward as planned due to the lack of a person-in-charge. 

The challenge of getting a good team ready for the existing business and new project implementation can become the main focus of management. 

Here are some considerations with regards to the team to ensure that a company will be prepared for business plan execution.

n Filling up vacancies: The new assignments or projects should have responsible persons identified, otherwise the company may have a high risk of failure. Based on the business expansion plan, management should review the matching of additional tasks with existing qualified people. Any mismatch should be resolved through timely and effective recruitment under the human resource department’s responsibility.

n Rotating people: In some cases, it is inevitable for the company to look at its existing personnel pool for someone suitable for a new assignment. This can be done through internal promotion, job rotation or a matrix organisation. Staff who have been working with the company for a long time may want to develop new skills or find new challenges. This is also an opportunity to retain good performers in the long term.

n Reorganising: Sometimes it is necessary to undertake some reorganisation to enhance the team’s strength so it will be more responsive to market competition. Companies should strive to streamline their work processes for cost savings and efficiency purposes. As a result, this could inevitably lead to a certain level of organisational change. 

n Developing a team: A company should give top priority to strengthening the team in terms of collaboration, coordination and knowledge-sharing. With proper developed programmes and an established system, a company can ensure that its human assets have been properly taken care of and can be fully maximised for the benefit of the company.

In the new era of market competition, it is unavoidable for companies to make changes faster and respond to the volatile market in a more strategic manner. To achieve this challenge, developing and retaining talent is one of the key success factors. Strategically, human resource management needs to be the top priority for many companies driving for sustainable growth. In business planning, team set-up and development should become a permanent part of the agenda, which everyone should pay attention to. 

Let’s put team calibration on the agenda for the next business review. 

 

Yanyong Thammatucharee, head of international finance and operations at Central Marketing Group, can be reached at [email protected]