Pay on list for talent in Asia move
PAY and benefits and Asian companies’ growth prospects are among the top five factors that sway international talent to work in the region, a study by professional recruitment consultancy Robert Walters shows.
In a white paper entitled “How to Attract and Retain the Right Talent to Grow Your Business Internationally”, the consultancy says the top motivations for professionals are pay and benefits, their belief in the companies’ growth and potential, the companies’ reputation and brands, promotion opportunities, and a sense of entrepreneurship. The latter refers to the extent that the recruited professionals are allowed to participate in decision-making.
As part of the white paper released in May, Robert Walters interviewed more than 5,000 HR professionals, hiring managers and candidates working in Asian and Western companies across mainland China, Thailand, Indonesia, Malaysia, the Philippines, Singapore, Taiwan and Vietnam to conduct the research. Most of the interviewed companies are multinational firms.
Some 900 companies took part in the survey; 293 of them are headquartered in Asia, with the rest having their headquarters outside Asia.
It found that 70 per cent of the Asian companies surveyed plan to further expand their businesses in the global markets within the next three years.
Fifty-seven per cent of the companies agreed that hiring international talent is a significant factor for achieving their global growth and 44 per cent are expected to increase their headcount of such employees in the next 12 months.
The Asian companies in the survey have their headquarters in Thailand, mainland China, Indonesia, Malaysia, the Philippines, Singapore, Taiwan and Vietnam.
Robert Walters said it regards international talent as home-grown or returning professionals who have worked for Western companies, irrespective of location.
Natiya Saul, Robert Walters Thailand’s director overlooking sales and marketing, supply chain and engineering, said yesterday during a presentation for the paper that Asian companies should build competitive salary ranges and clear long term business expansion strategies as part of the means to acquire and retain talent.
They should also create a corporate culture of collaboration and team work rather than a bureaucratic and formal structure, she added.
