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
‘Trailblazing moment’ for New Zealand-SL bilateral economic ties
The landmark announcement of JAT Holdings’ acquisition of Mirotone (NZ) Ltd, New Zealand’s No. 1 industrial wood-coatings company, took place on Nov. 4th at ITC Ratnadipa, drawing leading diplomats, business leaders and industry stakeholders. The event was seen as a “trailblazing moment” for New Zealand- Sri Lanka bilateral economic ties by New Zealand’s High Commissioner to Sri Lanka David Pine.
New Zealand’s High Commissioner Pine, delivering the keynote remarks, went on to describe the acquisition as “a powerful example of responsible foreign investment; strengthening a proud New Zealand brand.”
“What we really want to see a lot more of in New Zealand—just like every other country—is high-quality foreign investment, Pine said. “And just as important is ensuring companies that have done well for decades find responsible new owners, especially after challenging periods.”
He said the acquisition was “preserving and strengthening a New Zealand company that deserved a secure future” and added:
“This is the most significant investment to date by a Sri Lankan company in New Zealand. I hope we will look back on this night—and on you, Aelian, and your team—as trailblazers.”
Aelian Gunawardene, Founder and Managing Director of JAT Holdings, said that throughout his travels across Asia and Australia, one brand consistently stood out—Mirotone, seen as a respected and dominant name in Australia, New Zealand, Malaysia, Singapore and beyond.
“For nine decades, this company led the wood-coating industry in the Asia-Pacific region, he said. “It was a brand I admired, benchmarked and looked up to. Today, to be its custodian feels almost unreal.”
He recalled the intense negotiations—early morning calls, late-night meetings, and the JAT board’s approval of a USD 3 billion allocation to acquire a top-tier international coatings brand.
“This isn’t just about growth, Gunawardene added. “It’s about joining hands with a 90-year-old legacy of craftsmanship and innovation.”
He expressed gratitude to the original founders and said JAT looked forward to celebrating the brand’s 100th anniversary in 2035.
JAT Holdings CEO Nishal Ferdinando walked stakeholders through the strategic transformation the acquisition will unlock over the next 24–30 months.
He emphasised JAT’s groundbreaking R&D capabilities, including South Asia’s first water-based wood-coating binder, developed by only four companies globally.
By Ifham Nizam
Business
Sampath Bank and Ideal Motors partner to drive affordable vehicle ownership in Sri Lanka
Sampath Bank PLC recently signed a Memorandum of Understanding (MOU) with Ideal Motors (Pvt) Ltd., an authorised distributor of Mahindra vehicles in Sri Lanka. The partnership aims to offer customers enhanced vehicle financing solutions and exclusive benefits that make vehicle ownership more affordable and convenient.
Through this collaboration, Sampath Bank will extend a range of financial privileges to customers purchasing Mahindra vehicles from Ideal Motors. These include a 0.5% per annum reduction in the published leasing interest rates, loans to cover vehicle insurance premiums with no interest if settled within two months, and Sampath Credit Cards with no joining fee, enabling customers to pay their insurance premiums at 0% interest for up to 12 months.
Commenting on the partnership, Deepal De Silva, Chief Operating Officer, Sampath Bank PLC, said, “This partnership represents our commitment to delivering practical financial solutions that support our customers’ lifestyle aspirations. The collaboration with Ideal Motors enables us to offer more accessible financing and flexible repayment options, empowering individuals and businesses to make confident vehicle ownership decisions. It also reflects our broader vision of being a trusted financial partner that continuously anticipates and responds to customer needs.”
Expressing her thoughts on the partnership, Ms. Nimisha Welgama, Director – Legal and Corporate Affairs, Ideal Motors (Pvt) Ltd., said, “We are pleased to collaborate with Sampath Bank to offer customers a selection of Mahindra vehicles complemented by attractive financing options, enhancing both value and the overall ownership experience.”
Business
Positive corporate earnings driving CSE’s bull-run; ASPI hits 23,000 points
The CSE kicked off on a bullish note yesterday because the All Share Price Index topped the 23000 points level mainly due to positive corporate earnings amid conducive macroeconomic conditions in the county.
The All Share Price Index went up by 158.99 points while the S and P SL20 rose by 57.10 points.
Turnover stood at Rs 6 billion with ten crossings. Top seven crossings were reported in Laugfs Gas where 3.95 million shares crossed for Rs 276.7 million; its shares traded at Rs 67.50, Hemas Holdings 4.9 million shares crossed for Rs 172 million; its shares traded at Rs 31, JKH 7.75 million shares crossed for Rs 168.5 million; its shares traded at Rs 20.90, NTB 450,000 shares crossed for Rs 135 million; its shares sold at Rs 300, People’s Leasing and Finance 2 million shares crossed for Rs 58 million; its shares traded at Rs 29, Commercial Bank 200,000 shares crossed for Rs 41.6 million; its shares sold at Rs 208 and HNB 90000 shares crossed for Rs 35.8 million; its shares fetched Rs 396.
In the retail market top seven companies that mainly contributed to the turnover were; Colombo Dockyard Rs 451.3 million (one million shares traded), Laugfs Gas 304 million (4.5 million shares traded), JKH Rs 260 million (11.97 million shares traded), Sierra Cables 231 million (7.6 million shares traded), Sunshine Holdings Rs 231 million (5.6 million shares traded), NDB Rs 203 million (1.4 million shares traded) and Digital Mobility Solutions Rs 196 million (1.2 million shares traded). During the day 187 million share volumes changed hands in 43220 transactions.
It is said that the banking and finance sector performed well, especially NTB, while the manufacturing sector also performed well, especially JKH, Hemas and several other companies. IT sector also performed well.
Yesterday the rupee was trading weaker at Rs 304.80/305.00 to the US dollar in the spot market from 304.55/80 on Tuesday, dealers said, while bond yields dropped by about 3-4 basis points.
By Hiran H Senewiratne
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