Be it internal or external changes, it’s important for a business to be aware of developments and transformations in the economic arena to ensure it stays on top and ahead of its competitors.“Preparation is the key to success”, may be a cliche, but it’s one we firmly believe in.
While small consistent changes are inevitable, 2015 is fast approaching and with it comes the integration of a regional economy, known as the ASEAN Economic Community (AEC). This will be a major shift in how the region does business and one you really need to be ready for. The objective is a transformation of the region, via the free-flow of skilled labour, movement of goods, services and investments.
The AEC calls for great attention as there is much to prepare for, especially for the Human Resources department within a business. We’re all too aware of the eminence of a successfully run HR department, and with these acute changes to the business framework coming up, HR’s role will be critical.
The AEC poses both opportunities and challenges for businesses and companies in the region. Here are four ideas to help your company stay ahead of competition:
Identify your strengths and weaknesses and pinpoint the assets that’ll put you ahead of your competitors. Equally, make sure to shore up areas where you may have weaknesses. Remember that as a result of AEC your company must be even more ready to adapt to cross cultural differences.
Assessing threats and opportunities will put you in an advantageous position. Make sure to encourage positive working relations and to enhance training and development of employees. This is of extreme importance once AEC is implemented, as a skilled workforce is the key to a desirable position.
Build on what makes you stand out. Differentiation and individuality is attractive and rewarding both internally and externally. A corporation’s image reflects its principles and the relationships it has with its partners, clients and employees. A good image goes a long way towards giving a business a trustworthy name.
Communication is the key to information. Stay on top of internal and external voices and ensure messaging is consistent, and coherent in all the languages your stakeholders communicate in.
This may come across a little overwhelming at first, however knowing there is help at hand is reassuring. We pride ourselves in handling the administrative HR burden so you can focus all your resources on the core business objectives and make sure you are fully prepared for 2015.