Premium Soft: Innovating
Through Strategic Human
Resource Management
IQRA HASHIM 24140110
SIDRA 24140171
USMAN 24140114
SHEHRYAR 24140155
Overview
• Founded in 1999 by Ken Lin and Roy Choi.
• Transitioned from a web design company to software development.
• Navicat, its flagship product, serves over 3 million database users globally.
• Trusted by Fortune 500 companies such as Apple, Google, and Microsoft.
• Workforce of 41 employees as of 2018, generating $5 million in revenue.
• Achieved rapid growth in China with year-on-year sales doubling.
Operations and Project
Management
Transition from Waterfall to Agile:
• Initially used a waterfall approach; issues with rigid planning and client feedback delays.
• Adopted Agile project management in 2011.
Agile Benefits:
• Introduced iterative development, biweekly demo/review meetings, and faster response
times.
• Delivery times reduced by 50% between 2011 and 2018.
Third-Party Tools:
• Integrated third-party Agile tools to streamline task management and collaboration.
Challenges Overcome:
• Task ownership clarified, reducing miscommunication.
• Improved team accountability and productivity.
Work Culture and Environment
Flexible Hours:
• Two shift options: 9:30 AM–6:30 PM or 10:00 AM–7:00 PM.
• Strict no-overtime policy ensures work-life balance.
On-Site Collaboration:
• Real-time collaboration among UX designers and developers for interface decisions.
• Director Ken Lin emphasizes on-site presence for high-value discussions.
Open Communication:
• Regular one-on-one meetings with supervisors.
• Employees encouraged to voice ideas directly to directors.
Team Bonding:
• Activities like basketball games and team lunches strengthen camaraderie.
Employee Perspective:
• Alex (Senior Developer): “The casual work environment and no overtime policy are why I stayed.”
Talent Acquisition and
Development
Recruitment Strategy:
• Focused on hiring fresh graduates for lower salary expectations and higher adaptability.
• Traits sought: problem-solving ability, willingness to learn, and communication skills.
Challenges:
• Applicant drop: 100 in 2011 to 20 in 2017 due to increased competition.
• Competition from mainland Chinese companies with significantly higher salary packages.
Training and Development:
• On-the-job training for junior developers.
Clear role distinctions:
• Juniors focus on coding.
• Seniors lead strategic tasks like market analysis.
Long-Term Vision:
• Invest in junior developers for sustainable growth.
• Expand applicant pool through university partnerships.
Employee Retention Strategies
Retention Success:
• Turnover rate: 3% (vs. industry avg. 7.8%).
• Employees value flexibility and non-toxic work culture.
Compensation and Benefits:
• Starting salary: HKD 17,000.
• Annual leave, medical benefits, tuition reimbursement, and bonus for unused leave.
• Long-term plans: Considering equity ownership for key employees.
Team-Building Initiatives:
• Regular sports events, team lunches, and casual outings.
Challenges:
• Retaining talent amidst offers from mainland companies offering significantly higher pay.
Challenges in Compensation
Market Pressures:
• Mainland companies offering salaries in the millions to senior developers.
• Ken Lin acknowledges the difficulty in competing with larger firms.
Strategic Adjustments:
• Exploring additional benefits like flexible roles and knowledge-sharing opportunities.
• Gradual implementation of equity plans for senior employees.
Future Considerations:
• Retaining talent through non-monetary incentives.
• Enhanced collaboration and mentorship programs.
Knowledge Sharing and Cross-
Training
Cross-Functional Collaboration:
• Teams now work across platforms (Mac, Windows, Android, iPhone).
Employee Growth:
• Developers transition into new roles, expanding expertise across technologies.
Examples:
• Alex: iPhone to Android development.
• Leo: Expanding tech stack with modern languages.
Restructuring Benefits:
• Mitigates risk of knowledge silos.
• Creates opportunities for innovation and problem-solving.
Recommendations for Future
Growth
Short-Term:
• Formalize performance appraisals for transparency and consistency.
• Expand partnerships with universities to attract fresh graduates.
Long-Term:
• Enhance benefits package, including equity ownership for key employees.
• Invest in mentorship programs for structured career growth.
• Increase salaries gradually to remain competitive with larger firms.
Conclusion
PremiumSoft's journey from a web design agency to a globally recognized software
company highlights the company's ability to innovate and adapt in a competitive industry.
The company's shift to agile project management, emphasis on cross-functional
collaboration, and collaborative work culture have been key to improving operational
efficiency and building employee loyalty. Having focused on flexibility, open
communication and order ties, PremiumSoft grew up in an environment in which
employees thrive and contribute to their innovative products. However, the company is
faced with problems to maintain the best talents due to the competitive nature of the
technological industry and differences in wages compared to large companies. Addressing
these challenges will require a more formalized HR structure, including a career
development framework and improved compensation strategies. By continuing to
prioritize employee well-being, investing in talent development, and aligning HR practices
with growth goals, PremiumSoft can maintain its trajectory as a leader in software
innovation.
“
Thank you ”
