Thai Yamaha Motor Co., Ltd.
THE SITUATION
Thai Yamaha Motor Co., Ltd. used to be a family-owned business until 2000 when the ownership had been transferred to a foreign company. Higher expectations were set for local employees meanwhile the majority of top positions then were held by expatriates.
HOW WE HELPED OUR CLIENT
Slingshot Group began with rebuilding awareness of Core & Managerial Competencies to all promotional candidates through a 4-day Workshop, followed by competencies gap identification with 360-degree assessment, then one-on-one coaching process. After the completion of coaching, 360-degree assessment will be done in order to compare improvement.
Before being promoted, the candidates will also be trained on presentation & business writing as they need to present before a management committee and write an essay to elaborate their ideas to improve their job efficiency after promotion. Technical competencies are addressed and developed separately.
The project started in 2005 and it took half a year to complete a round of a group of promoted candidates. Until now, all local promotional candidates in the middle to upper management level had gone through this process. The project still continues to go on as long as there are promoted candidates. Slingshot Group continued to serve as project consultant.
The Result
The success rate has been high, 84% of the candidates being promoted. Since the practice is in use, the majority of positions which originally were held by expatriates were now replaced by locals. Level of trust within the organization increases as reflected by employee satisfaction surveys which improved from 60% in 2005 to 76% in 2008 whereas cost saving due to “promotion from within” was US$368,000 per annum. This project had been recognized by American Society for Training and Development (ASTD) and had received ‘Excellence In Practice’ Award for an Executive Coaching Project in 2008, the first and ever ASTD’s Excellence in Practice Award winner in Thailand and in Southeast Asia.
