Business
A holistic approach to People Management
Business Oriented People Management by Franklyn Amerasinghe which is to be launched soon, validates that people management is about understanding that the people employed are more than a resource to earn profits and they are as valuable as the investor himself…
by Randima Attygalle
‘Thousands of students are now looking at entering the field of ‘People Management’ and one drawback for them is that usually they study Human Resource Management as part of a curriculum for certification, but they often have no exposure to a holistic analysis of how the ‘People Management’ function is integrated into the functioning of the business.’
The preface to Franklyn Amerasinghe’s latest compilation, ‘Business Oriented People Management’, which is to be launched soon, underlines the fundamental objective the author seeks through his work. The author who alludes to the Human Resource or the HR function as ‘People Management’ further qualifies: “the term ‘Human Resources’ leaves an ugly taste in the mouth. It seems to look at the human element as just another resource like money. People management is about understanding that the people employed are more than a resource to earn profits and they are as valuable as the investor himself.”
The book which deals with the evolution of human resource management, the corporate sector and its rules for governance, people management and performance management, globalization and international obligations, labour legislation, collective bargaining, leadership, dispute management and much more, enables the ‘People Manager’ insights into how decisions are taken and also indicates the benefits for Boards of Companies to have a people-centric focus in their business policies. The sustainability of the corporate and the social aspects of the business are also given attention.
The book, Amerasinghe explains, provides a basic picture of how a private sector organization complies with its multitude of obligations relative to all stakeholders. A publication by the Employers’ Federation of Ceylon (EFC), Business Oriented People Management’ , as its one time Director General/CEO, Amerasinghe notes, is “conceived as a supplementary aid to all those responsible for managing people whether they be designated as HR Personnel or not.”
Amerasinghe who was also a Senior Specialist at the ILO for Employers’ Organizations in East Asia, translates his wealth of experience in his scholarly pursuits. A prolific writer credited for many functional compilations on mediation and cooperation at workplace, conflict management and social dialogue, he has also served on many prestigious Boards and Committees in the public and private sectors.
His latest work provides insights to the executives managing people and how they should fit into the overall achievement of business plans. An unfortunate trend the author notes, is for such executives to look very exclusively at their immediate tasks and targets neglecting the larger picture of the organization. “The fact that each executive contributes to fulfill a corporate plan is sometimes forgotten in pursuit of personal goals. Moreover, many think that following blindly, and without question, policies handed down by higher management is loyalty and is sufficient. Every employee at whatever level should be encouraged to contribute to the development of the company and its policies. Some areas of activity mentioned are for the purpose of identifying the People Manager as vital in the business interests of a private sector organization which is dynamic and looking for sustainable growth,” notes the author adding that the People Manager has two distinct functions: his personal performance and to encourage others with whom he interacts to play their part in corporate performance.
Current management structures, the author observes, reflect that increased responsibility for handling people rests outside the traditional HR Department, although laying down policy and monitoring what is done at departmental level would still remain with it. “Thus the book is meant to assist all managers who participate in managing people,” he says. The advent of digitization and new forms of work arrangements have shifted the ‘circumstances’ of the HR Manager to another level thus changing gears in his/her performance role, says Amerasinghe. “The traditional role of the HR Manager, however, remains the same which is to make the employee contented and motivated to contribute to the organization.”
Paying significant attention to the skills needed on a day to day basis such as dispute handling, negotiation and communication, the book also focuses on industrial relations, an area which the author feels is now quite overlooked, as the HR function looks more and more towards isolating people at work and dealing with them individually. “This does not usually work in the Sri Lankan setting as there is a cultural desire to indulge in collective thinking, especially in rural areas.” The era when production and service centres were in Colombo has been replaced by a policy of moving to rural and suburban centres, with a large number being in Industrial Zones which attract a large number of rural workers.
“The rural worker is conditioned by peer pressure and a strong resistance to change from their traditions. The COVID pandemic which has seen mass loss of jobs especially at lower levels will probably bring back industrial relations to merit more consideration again,” observes the writer.
Amerasinghe’s latest compilation also enables a window to the past in which corporates tackled issues of their employees. Originally the intention was to have an employee who dealt with ‘fire-fighting issues’. The development of HR strategies as a means of keeping employees in line with business requirements was aided by circumstances such as the debacle of the unions in July 1980 and the disillusion which followed. “There has been a remarkable change in the culture of blue collar workers by the movement of collective power to the workplace as opposed to the earlier reality of workers being made to follow the dictates of political parties and their interests,” says Amerasinghe whose latest book balances the advantages of collective agreements against the desire of employers to make employees more focused on their individual terms and earnings which as he says is the key component in the strategy to motivate employees to be more productive.
The COVID situation as the author further observes, brings out a new dimension, which is the futility of legislation to guarantee terms and conditions of employment in the face of employers not having the capacity to meet their legal obligations “The law cannot force employees to stand up for their rights when confronted by a situation when they must either accept what is offered or starve.” The book deals with the legal situation and the need for employers to think of their social responsibility towards employees. “Moreover, in the long term they may have look for new employees when they need to think of ramping up their production or services again.”
The author in his work refers to the Personnel Managers of the past who grew into managing people by long association with the organization. “The more experience one has at the lowest levels of an organization, the more effective one could be. HR personnel should have compulsory internships. Through my book I try to focus on the need to fully comprehend what the organization is about and its responsibility which in turn devolves on the management.” He also goes onto note that there is an onus placed on the management to afford opportunities for the HR personnel to constantly upgrade themselves and be innovative.
Business
Oil prices fall amid mixed signals on US-Iran peace deal
Oil prices have fallen sharply amid tentative hopes for a deal to end the US-Israel war on Iran.
Brent crude, the primary benchmark for global oil prices, fell about 5 percent on Sunday as US President Donald Trump gave mixed signals on the prospects for a permanent end to the conflict.
Brent futures for July stood at $98.47 a barrel as of 01:05 GMT, down about 9 percent from a month ago but still up by more than a third compared with before the start of the war.
Japan’s benchmark stock index, the Nikkei 225, surged more than 3 percent in morning trading, hitting an all-time high after closing at a record peak on Friday.
Trump said in a social media post on Sunday that negotiations with Tehran were proceeding in an “orderly and constructive manner”, but he had instructed officials “not to rush into a deal”.
“Both sides must take their time and get it right. There can be no mistakes!” Trump wrote on Truth Social.
Trump’s remarks came after he raised hopes for a breakthrough on Saturday by announcing that a deal had been “largely negotiated,” with the terms including the reopening of the Strait of Hormuz.
“Fundamentally, there is no change to the underlying picture, where 10-11 million barrels per day of crude oil continue to be shut-in for every day the Strait of Hormuz remains shut,” June Goh, a senior oil market analyst at Sparta in Singapore, told Al Jazeera.
“However, markets are expecting a gush of 100 million barrels of crude oil from the stranded ships to flow out once the deal is in place.”
Goh said markets are likely to remain on edge for some time after any deal is finalised.
“Sparta estimates still about three to six months required to get everything back to status quo, including time to bring production and refineries back online,” Goh said.
Iran has effectively blockaded the strait since the start of the war in late February, disrupting about one-fifth of the global oil trade.
The US has imposed its own blockade of Iranian ports since mid-April, further disrupting commercial shipping in the waterway.
In his Truth Social post on Sunday, Trump said the US blockade would remain “in full force and effect until an agreement is reached, certified, and signed”.
[Aljazeera]
Business
Strong demand for government securities signals caution over Sri Lanka’s broader economy
Investor appetite for Sri Lanka’s government securities strengthened sharply during the week ending May 22, with the Treasury Bill auction attracting bids amounting to about 1.7 times the offered volume, while secondary market transactions in Treasury Bills and Bonds surged 22.8 percent from the previous week, according to the latest weekly report of the Central Bank of Sri Lanka.
The renewed demand for government securities appears to reflect a growing preference among investors for safer and more liquid assets at a time when several segments of the economy are showing signs of uncertainty despite the broader macroeconomic recovery.
A market analyst told The Island Financial Review that the rise in demand for Treasury securities is likely driven by a combination of factors including rising inflation expectations, weakening equity market sentiment, currency depreciation pressures and investors may be attempting to lock in currently attractive yields before any further decline in market interest rates.
“The National Consumer Price Index-based headline inflation accelerated to 4.7 percent in April from 2.4 percent in March, while core inflation also rose to 4.4 percent. Such inflationary pressures may have encouraged institutional investors to lock into relatively attractive government yields before any future market volatility emerges,” he said.
At the same time, the Colombo stock market came under pressure during the week, with the All Share Price Index falling 4.26 percent and the S&P SL20 Index declining 3.55 percent.
The analyst said that part of the funds flowing into government securities may have shifted away from equities as investors sought more predictable returns.
“Another important factor supporting government securities is the persistent surplus liquidity in the banking system. The outstanding market liquidity remained in surplus at Rs. 141.27 billion by May 22, although slightly lower than the previous week’s Rs. 156.8 billion. Excess liquidity typically pushes banks and large institutional investors toward government debt instruments, particularly when private sector credit expansion remains subdued,” he noted.
“According to the data, foreign holdings of Treasury Bills and Bonds declined by 3.32 percent during the week. This suggests the recent demand surge was driven largely by domestic investors rather than foreign inflows, underscoring strong local institutional confidence in government-backed instruments,” he added.
In conclusion, he noted that the strong oversubscription at Treasury auctions reflects growing market confidence that Sri Lanka’s domestic debt market remains one of the few relatively stable investment avenues amid external vulnerabilities and domestic realities.
By Sanath Nanayakkare
Business
INSEE Lanka powers ‘Build Sri Lanka Exhibition 2026’ as corporate sponsor
INSEE Lanka, Sri Lanka’s fully integrated cement manufacturer and market leader, took center stage as the Corporate Sponsor of the Build Sri Lanka Housing & Construction Exhibition 2026, organised by the Chamber of Construction Industry of Sri Lanka (CCI). The partnership showcases INSEE’s commitment to advancing the country’s construction sector through quality, sustainability, and industry collaboration.
The exhibition was held from 22-24 May 2026 at BMICH. Stakeholders representing different sectors of the Construction Industry and international participants will be present.
As Sri Lanka’s construction sector enters a new era, the need to unite, innovate, and collaborate has never been greater. Build Sri Lanka is recognized as one of the industry’s most influential events and brings together the full construction value chain including manufacturers, suppliers, architects, engineers, developers, and homeowners into one dynamic platform.
Build Sri Lanka also plays a vital role in bridging industry knowledge with public understanding, enabling informed decision‑making for the construction ecosystem.
For INSEE Lanka, the exhibition is an opportunity to showcase capabilities to contribute to shaping the future of construction in Sri Lanka. Participation also highlights a dedication to drive progress to benefit the sector and the country, creating lasting value for communities and the environment.
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