We all know the luxury watch industry is cylindrical. With the luxury watch market facing headwinds, The Hour Glass announced a decline in net profit after tax by 10% for the financial year ended 31st March 2016. What I like about the The Hour Glass is their prudent management. In the current market downturn, the senior management team brainstorm for ways to transform the way they do their business. The team looked at ways to achieving operational efficiency by performing an internal review of company policies and processes. These are some of the steps taken by the management:

1. Fix Legacy Systems

By reorganizing the data and approval flow for payroll, The Hour Glass is able to save over 30 man days every year.

2. New Employee Development Initiative

The Hour Glass introduced new employee development initiatives aimed at retail succession and creating multiple career pathways for sales personnel to ......