HRO Today Global Winter 2018 - 32

APAC Report
" Perhaps the biggest talent challenge facing APAC
organisations is the move towards process transformation
and functional optimisation throughout the HR function, "
says Wong. " As APAC matures, the increased lens on cost
control and driving efficiencies throughout the region
means employers must support more growth with fewer
resources than ever before, and do so in an increasingly
cutthroat and competitive market for top talent. "
Multinational corporations' centralised decision-making
processes can also deter APAC candidates who value speed
in communication and career progression. " Candidates
look at career opportunities and sometimes feel they
can make more of an impact at a local company where
decision-making is faster and can lead to quicker career
progression, " says Ker Gibbs, managing director of Korn
Ferry Futurestep's operations in China.
As a result of this stiff competition, employee turnover in
the APAC region was at all all-time high of 30 per cent in
2017, according to International Monetary Foundation's
October 2017 Regional Economic Outlook Update: Asia
Pacific-and this trend is only expected to continue.
Keys to Success
How can organisations overcome APAC's talent shortages?
According to Alexander Mann Solutions' Baker, the
answer is adaptability. To succeed in APAC markets, global
businesses must have HR processes that are standardised
enough to be efficient but flexible enough to adapt to
local markets.
" A 'high impact' HR model that blends globalised talent
practices for consistency and mobility with localised
flexibility to attract, retain, and manage people
appropriately is crucial, " Baker says. " Global businesses
should have a global HR function. At the same time,
in order to compete successfully in diverse markets,
companies should recruit, train, and manage people
locally-reflecting local culture, local labour markets, and
the needs of diverse local business units. "
Organisations can also ensure business success by
implementing a number of strategies:
* Develop promising talent. One way that organisations
can combat APAC's talent shortages is by tapping into
business schools and universities to find and hire promising
young talent. " It is important for companies to tap
the millennial talent, groom them, and partner with
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HRO TODAY GLOBAL
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WINTER 2018
universities and colleges that offer vocational courses
around skill development, " says MSD's Singh.
Businesses also need to evaluate the talent that they
already have, provide opportunities for upskilling, and
guide their employees into clearly structured leadership
pipelines. " Organisations should define and know the
talent they need now and five years from now, and design
personalised candidate journeys that reflect the preferred
behaviours of the target talent. Overall, they need to
implement recruitment 'lanes,' not processes, " Baker
explains.
According to Natalie Tait, senior vice president and APAC
head of talent acquisition at Bank of America Merrill
Lynch, these measures are essential to increasing employee
mobility and retaining talent. " Organisations need to
focus effort on learning and development, harnessing
new technology to make this more accessible globally, "
she says. " Tenure of role and learned skills are reducing,
so organisations need to operate with more agility and
think about how skills are cycled and recycled across the
enterprise so institutional knowledge can be retained and
leveraged. "
* Build an attractive employer brand. Organisations can
also alleviate recruitment challenges by taking steps to
build a comprehensive employee value proposition. It's
no longer enough to provide competitive compensation
packages to attract top talent in competitive APAC
markets-organisations need to differentiate themselves
through employer branding.
" With the endemic of enterprise-wide standardisation
and increasingly rigid salary structuring seen at employers
throughout APAC, top talent is no longer being
won over by huge salary increases or exorbitant pay
packages, " says Allegis Global Solutions' Wong. " This
has led HR organisations to stop simply looking to fill
roles with qualified candidates and instead to focus on
connection and cultural fit as competitive differentiators,
underscoring a trend already seen in other global
markets. "
In order to demonstrate their brand and value to potential
employees, APAC businesses are beginning to turn to
technology. In particular, social media platforms are
increasingly being used as an alternative to traditional
recruitment methods to seek out and engage job
candidates.

HRO Today Global Winter 2018

Table of Contents for the Digital Edition of HRO Today Global Winter 2018

HRO Today Global Winter 2018 - 1
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