KUALA LUMPUR: Malaysian companies have been urged to inculcate value-based management in human resources development and not focus merely on bottom-line business performance.
Human Resources Minister Datuk Dr Fong Chan Onn said if companies put emphasis to develop good organisational values or principles through its human resources, bottom-line results would follow.
“But if we just focus on bottom-line results at all costs, you will get corporate fraud and failures,” he said during the presentation of the National Human Resources Excellence Awards at the Shangri-La Hotel here yesterday.
The set of values referred to are building up integrity, professionalism, transparency, personal accountability and performance ethics in the workforce.
This values-based management, he said, would remain the biggest challenge that the field of human resources management faced, and the factor that would make or break the future economic success of the country.
Successful organisations in the future, he said, must be able to differentiate themselves from the rest of the pack by their ability to inculcate good values and principles in their employees.
“It is an arduous effort that cannot be achieved in a short period and it takes a fully committed leadership to constantly champion the values.”
CIMB won the National Human Resources Excellence Award, with IBM and Mandarin Oriental Hotel Kuala Lumpur as runners-up.
Three other companies short-listed for the nomination were HSBC, ING and Tenaga Nasional.
Nazir Razak, CIMB chief executive and managing director, said the organisation was proud to set the benchmark.
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