A latest survey
of some 35,000 people across the Asia-Pacific region, employees indicate strong desires to switch jobs this year, and they have clear strategic reasons for doing so.
Few employees feel that their full potential is being utilized in their current role and many are seeing greater opportunities in their local markets. To address the negative cycle of attrition that is already taking shape across the region, HR professionals and hiring managers must begin to:
- Keep an eye on the competitive landscape: Greater employment opportunities in Asia are driving a downward trend in retention, despite improvements in pay and other employment conditions. Understanding the market, including specific skills shortages, will assist employers to offer a competitive overall package to employees seeking rapid promotion and skill development in these fast-developing markets.
Tip # 2
- Demonstrate the outcomes and contribution of each employee’s role: 'meaning' at work is critical to engagement and satisfaction, so finding ways to demonstrate the ways in which each role contributes to overall outcomes is key to retention and productivity. Team recognition is fine, but individuals (particularly highly talented ones) want to see how they impact results too, and this means finding ways to measure and report on it.
- Think like a contingent worker: even in markets such as Thailand and Indonesia where employees are more satisfied with their current employers, movement intentions are still high and are driven by the perception that new employers bring new opportunities. Therefore, employers need to consider ways to offer the benefits of contingent work to permanent employees. A growing proportion of workers around the world are moving to the free agent work-style, and around one-third of most workforces are now made up of contingent labor, so new retention strategies need to consider ways to increase the engagement and motivation of these employees too.
- Commit resources to document and track skills: if employees feel their skills are being fully utilized in their role, they are more likely to feel valued by their employer. Ensuring that managers and HR departments have a clear view of the skills that each employee has, and making internal movement opportunities and project teams more flexible will help both employer and employee access the full spectrum of talent and skills available.
- Find ways to move employees internally: Allowing employees to choose projects and make a case for being part of them, as well encouraging other departments/managers and teams to seek skills internally, will increase development and growth opportunities for internal talent.
- Ask how they want to be rewarded: pay and benefits are clearly important to workers in the region, yet each employee is different. Consider how you might provide employees with access to other projects, skills and responsibilities when they reach their performance targets.
These tips are extracted from: 8 Signs Talent Retention Strategies are Faltering - APAC. You can download this free new ebook on Talent Acqusition and Retention here.