Reaching the Summit and Beyond: Hong Kong Broadband Network’s Innovative Approach to Talent Engagement Case Study Solution
The case revolves around the company which is located in Hong Kong,called:Broadband Network (HKBN). It is considered as the second-largest broadband service provider in the region. The company was growing rapidly,and its financial and business performance were higher in the market as compared to its competitors. However, it was possible because the company focused on an efficient management of human resource and adopted an innovative approach to Talent management, which included the entire process. The process focuses on attracting, developing, retaining and rewarding the company’s employees and skilled professionals. However, the talent program had a major focus on team development in order to increase the company’s performance.
For successful implementation of the talent management framework in the company; the management focuses on self-actualization of people that are the core of talent management system and act as a factor to achieve the competitive advantage. Besides that, management considers all the factors that prevail the healthy culture inside the organization and bring efficiency to work and those factors are morale, attitude and ability of employees.When new director joined and there was an initial public offering (IPO), then the management is trying to evaluate whether the talent management system framework will play a part for the success of the company and increase the value of the company in the market.Management focused on other policy as well that is delegating some powers to CEO for taking decisions of becoming a public company. This policy focuses on a vertical management model that empowers heads of departments to make decisions and disseminate the information across the department. This way employees working in the human resource, adopt the proactive approach in order to prevent any consequences.
Moreover, after consolidation with the parent company (CTI), existing operations requires more efforts to perform better; the talents are required to fulfill multiple responsibilities and adopt new approaches that are unique from the past. Besides that, the company is required to make new policies that support business process and less focus on the talent management system. Moreover, as business processes also changed in response to the consolidation. Therefore, it is recommended for the group to opt for expansion in terms of products or services and also a geographical expansion to enter into new markets. Another way of remaining at the leadership position in the market is to do expansion by diversifying the service/product of the company, so that, it targets the new market, having different income, consumption ratio and preferences.
Hong Kong Broadband network is a service provider, which is located in Hong Kong. The company’s operations are spread across many regions throughout Asia, such as: Macau,Singapore, Malaysia and China. The company is the provider of solutions to integrated technology and telecom. The company has three main brands, which are: JOS, Hong Kong Broadband Network and HKBN Enterprise Solution. Besides that, the Group facilitates its customers with a variety of premium offers and range of services that are; provide solutions to both companies and individual clients in terms of one-stop Information and Communications Technology (ICT). These offers involve services like:voice communications, digital solutions,broadband, mobile, IoT, big data, data connectivity, managed WI-Fi, integrated cloud solutions, information security, enterprise applications, data Centre facilities, business continuity, system integration.(Cheung, 2017)
The Group facilitates its customers with a variety of premium offers and range of services that are; provide solutions to both companies and individual clients, in terms of one-stop Information and Communications Technology (ICT). These offers involve services, such as:voice communications, digital solutions,broadband, mobile, IoT, big data, data connectivity, managed Wi-Fi, integrated cloud solutions, information security, enterprise applications, data Centre facilities, business continuity, system integration.
The vision of the company is entailed in the organization culture and the company follows the mission to “Make our Home a Better Place to Live”. Therefore, to achieve its goals in a long time later in 2013, the group decided to opt for acquisition and acquired Y5Zone Limited, to further expand the Wi-Fi business. Consecutively, next year the management decided to acquire another company to improve its strength and business performance, and this time the company is New World Telephone Holdings Limited’s telecommunications (NWT). And finally, in 2019, it merged with WTT and acquired JOS and became a leading brand in Asia.(Buche, 2014)
Although HKBN achieved success and became a leading company in the market, with diversified services and talents. The problem arises for the company after the appointment of the new directive to assist NiQ- CFO of the company. There was an initial public offering (IPO) for shares in three to five years. For doing this, the company is trying to evaluate whether the talent management system framework will play the part for the success of the company and increase the value of the company in the market.(Ashkenazim, 2010)
- HKBN, with a net profit of around $313.9 million was the most profitable organization among three leading competitors in the market.
- In terms of the market share, the company serves 50% of active companies and 33.33% of households.
- The company’s powerful networks include three fiber optic networks that are HKBN, NWT and WTT that covers 2.4 million residential homes and commercial buildings of more than 7,000.
- By the year 2005, the company established the largest metro Ethernet network in the world.
- The success of the organization is primarily through leveraging its technological approach and talent management.
- For continuous success and sustainability in the market, the management focused on common beliefs of consumers and preferable role in the society to make the communication better and user friendly.
- Due to the change in economic climate, the organization is required to give up on some of its office space as an attempt to cost saving.
- In order to improve the organizational growth, Ni Q was concerned about the ways for leveraging the talent to add value to the organization.
- Change in the organizational objective under the leadership of NiQrepresented risks about the talent management in future as the operational cost of the organization were doubling.
- Maintenance of the lean management would result in increased focus of employees on delivery of value leading to more efficient and productive outcomes.
- Based on the importance of employees, maximizing the human resources would provide the organization with biggest dividend in next few years.
- The approach of leveraging skills for employees would allow them to develop new skill sets which are required for adequate performance. (Ashkenazim , 2010)…………………..
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