Week 15 (29.7.07)

Learnt


Compensation and Benfits

A company's compensation program sends a message to employees about its commitment to motivating, recognizing, and rewarding employee performance

• Every organization needs a compensation philosophy that identifies its desired market position - that is, where it wants to position pay levels with respect to competitive market practice
• Types of compensation include base pay, bonus, merit increases, variable pay(commission) and long term incentive
• The practice of banding includes broadbanding and careerbanding. Broadband usually have minimum and maximum amounts that overlap. Careerbanding is similar but more closely tied to career development; there are no minimums or maximums; salaries are based on market surveys.
• Benefits refer to healthcare, pension plans, stock options, legal services etc
• Applicants who are comparing job offers often narrow their choices down to those that provide the most generous benefits package

Unlearn

• Drop off the idea that people are attracted to Pfizer because it has a good compensation and benefits plan. Today's workers want more than a comprehensive compensation and benefits package. More workers are looking forward such as a chance to make an impact, appreciation of work well done, open communication between themselves and management, opportunity to gain new skills, and control over their current and future lives. They also want work that is fun, interesting, and exciting. Others are career advancement, challenge, and a good fit with their boss.

Relearnt

• I had made recommendations and decision with the support of my superior to internally transfer two senior Sales Executives to cover area of greater challenges and higher sales impact. This process or strategy is to assist my manager to retain and motivate our sector business top performers within the department.

Week 14 (21.7.07)

Learnt

Interview Questioning Techniques

I learnt from the video tape shown to us on " More than a Gut Feeling" during our MBA class.
During interviewing, ask:

1. Competency-Based Questions (represent 70% of an interview session)
2. Open-Ended Questions (15% of an interview)
3. Hypothetical Questions (5% of an interview)
4. Probing Questions (5% of an interview)
5. Close-Ended Questions (5% of an interview)

• Past behaviour is the best predictor of future behaviour
• Ask job related experience that predict future
• "How" a person handle in the past - better predictor of future
• The interviewer should Review and Develop Questions related to the skills required in a candidate (by Analyze the Job Skills)

The process:

• Use Rapport Building Question - at the beginning or before interview - discuss about the job
• Start with Open - Ended Question
• Eg : Describe a time when you have completed a project in a short duration of period
  Eg : Give me an example of a time in which you make a quick decision to solve your problem
  Eg: Tell me exactly how you handle your difficult customers?
• Eg: Tell me about the goal you set in the past and achieving it
• Contrary Evidence
• Eg: Tell me a time when you have to admit a situation you could not handle it?
• Eg : Describe a time when you have an unpleasant time with your manager
• If candidate can't answer, remain silence and assure he/she by saying eg: A lot of people have difficulty in answering this question, take your time.
• Maintain Control in interview
• Address the candidate by saying " thank you" and "that's interesting".
• Value It - thank the candidate for the time taken off

Summary

• Ask Past Event Questions
• Gain Behaviorial Examples
• Use Rapport Skills
• Take Notes

Unlearnt

In my previous department hiring process, i did not identify the components of workplace diversity. However, now i recognize the necessity of leveraging diversity in order to drive business success and maximize organizational success.

Relearnt

In my recent department recruitment, we have recruitted a group of new recruits with mix gender, ethnic and age group for the position of sales executives. This has resulted in strengthening the connection between diversity and productivity.

Week 13 (11.7.07)

Learnt

Recruitment sources and techniques

Top 10 sources of job applicants(traditional recruitment):

1. Employee referrals
2. Newspaper ads
3. Recuitment firms
4. College recruitment
5. Contigent-helps firms (employment agencies)
6. Job fairs
7. Internet (Jobstreet)
8. Targeted minority recruiting
9. Walk-ins
10. Government employment services

Other sources:

1. Clients or customers referral
2. Direct mail
3. HR files
4. Job posting
5. Military recruiting
6. Open house
7. Outplacement firms
8. Professional associations
9. Radio & TV
10. Research firms

Creative recruitment:

1. Airplane banners
2. Banners and signs
3. Billboard advertising
4. Bumper sticker advertisements
5. Company-sponsored social affairs
6. Movie ads
7. Newspaper inserts
8. On-site recruitment
9. Preemployment training
10. Response cards

Apply "ABC Guidelines for Successful Recruitment" to ensure best possible results

Unlearn

Drop the idea to study late at night. Identify self as a morning person-wake up earlier each day for self-learning and reading.


Relearn

I proposed for a revision of target for next 6 months in 2007 in view of the business challenges ahead (generic threat - Porter's 5 forces). I applied critical thinking skills by discussing why there is a need (purpose) in my point of view, which can lead to lower morale and productivity if SE did not achieve budget (consequences - employee may leave). I supported with data and facts that with the revise price will impact lower sales value but in my judgement, we can gain back with prescriptions of a more cost-effective drugs. I also made some assumptions to solve this problems ie potentiallyNorvasc sales may drop in next 6 months by averagely 5- 10%.

Week 12

Learnt

Contingent Workers

Defined as individuals who do not perceived themselves as having an explicit or implicit contract for ongoing full or part time employment.
Work in jobs that structured to last only a limited period of time.

Pros (to company)

1. Cost - wage is 82% of full time regular employees
2. Benefits - less likely to have health insurance coverage, retirement benefits etc
3. Flexibility - flexible in how much labor to hire and when
4. Timing - immediate staffing needs

Cons (to company)

1. Cost - agency fees and agency reputation
2. Lack of company and specific job knowledge
3. Morale - may affect morale, productivity and sense of commitment of regular employees
4. Legal concerns - the courts are examining the relationship between organizations and their contigent workers

Unlearn

To shift my thinking paradigm: To solve problems using the structure of thoughts concept instead of linear thinking ie what price to propose to my pharmacists in order to increase my sector sales.

Relearn

I teach back my manager on winning and positioning using the "Hub and Wheel" model to apply for our E-card project. He shared his view and felt benefitted from my structure of thoughts and vision ahead. He felt there is a sense of inclusion and I felt commitment from him is better now. As my managers are mostly base in out-station, i plan to teach back and share in a group in my coming next month sales managers meeting.

Week 11

Learnt

Composition of the New Workforce

Today's workforce reflects a change in the age mix, gender, ethnic composition, number of immigrants, and number of persons with disabilities.
There is also a greater emphasis on diversity-driven work environments - workplaces that embrace employees with multiple dimensions of similarities and differences.

Diversity is increasingly being viewed as an ongoing strategic business imperative. Successful diversity programs treat all people with equal regard, incorporate different skills and interests to enhance an organization, and result in increased productivity and profits.

Indeed, a new form of workplace loyalty may be emerging, whereby employees will outline what they can do for the company, as well as identify the approximate period of time they plan to stay in the job; in return, the employer will agree to provide training and resources, in addition to telling the employess what the company expects from them before the anticipated job change.


Unlearnt

Time is essence. Trying to balance work, study and family life - prioritize reading by not memorizing facts, but understanding and selective reading on books summary.

Relearn

Apply Edward de Bono 6 thinking hats together with my team mates in solving what price should i offer for Norvasc in my Penang private hospitals in view of more competitive threats and generic availability. Look at every angle before decision is made.