In May 2024, Taft Properties held the mid-year strategic planning. It acted as a vital checkpoint for a company, allowing it to course-correct by evaluating progress, adapting to unforeseen changes, reallocating resources as needed, and ensuring its strategies remain relevant in a dynamic business landscape. This proactive approach keeps the company agile and on track for success in the latter half of the year 2024.
Building a High Performing – Driven Organization
Key Initiatives
- Clarity of Key Results and Individual Scorecard
Taft Properties implemented Mid Year and Year-end Performance evaluations to establish clear, measurable goals and KPIs that align with the organization’s strategic objectives. To further align key results and KPIs, the mid-year recalibration enabled clarity of targets, providing teams with a clear sense of purpose and defined measure of success. A thorough communication through cascading of agreed-upon targets was ensured and individual scorecards will be introduced to guide employees. This will be supplemented by leaders’ guidance and support (coaching and mentoring) and performance monitoring (through performance tracking system) to regularly monitor progress, identify areas for improvement, and celebrate achievements, ensuring accountability and continuous improvement.
- Review of Total Rewards to Recognize Talents and Address Total Well-Being
Taft Properties is currently conducting a comprehensive review of its current total rewards program, encompassing compensation, benefits, and incentives. It aims to:
- Provide comparable and equitable rewards by aligning the rewards system with industry standards to attract and retain top talent, ensuring it is competitive and equitable.
- To establish Well-Being Programs by integrating wellness initiatives that support the overall well-being of employees, addressing their physical, mental, and financial health to promote a holistic approach to employee satisfaction and productivity.
- Culture Building Programs
Our Commitment to Positive and Inclusive Environment: We are dedicated to nurturing a positive and inclusive organizational culture focused on collaboration, innovation, and continuous improvement.
- Improved Employee Onboarding Orientation: We have enhanced our employee onboarding orientation by including comprehensive sessions on the company’s core values and the employee code of conduct. This ensures that new employees are well-versed in our organizational principles from the beginning.
- Employee Engagement and Recognition: To enhance the employee experience, we have begun to regularly acknowledge employee birthdays, key contributions and achievements, newly regularized employees, promotions, and transfers. These efforts recognize career mobility and growth, promoting a sense of belonging and motivation among staff.
- Continuous Engagement: We regularly implement engagement activities and feedback mechanisms to understand and address the needs and concerns of our workforce, thereby enhancing morale and commitment.
- Increasing Hiring of Young Generations to Meet Technological and AI Demands
- Targeted Recruitment: Our strategic recruitment initiatives are aimed at attracting young, tech-savvy talent proficient in emerging technologies and artificial intelligence.
- Educational Partnerships: Establishment of partnerships with educational institutions and technology hubs aims to build a pipeline of innovative talent.
- Training and Development: We will be offering comprehensive training and development programs to upskill current employees and seamlessly integrate new hires, ensuring they are equipped to meet the evolving technological demands of the industry.