2023 Q1 SEA Talent Pulse Survey
We conducted the 2023 Q1 SEA Talent Pulse Survey for Human Resources and Compensation professionals to identify key talent and rewards challenges faced by organisations in Southeast Asia. With over 100 companies surveyed, we uncovered valuable insights on how organisations are navigating these challenges.
Key Insights
Beyond pay (and benefits) for talent retention
- 1 in 2 firms invest in workforce upskilling/reskilling to ensure their workforce are future ready and have the skillsets to tackle with challenges of the future
- Over 50% of firms believe upskilling/reskilling workforce is a means to increase job satisfaction, close skill gaps and improve productivity
- While “Reward Strategy” and “External Competitiveness” remain to be the top two Reward focus areas, HRs are increasingly more concerned about employees’ total wellbeing
Rethinking People Strategy
Companies should approach their people strategy with a fresh perspective and address how returns per dollar spent can be maximized by increasing productivity and workforce resilience while attracting and retaining top talent.
A key factor in achieving this is through the development of a relevant Employee Value Proposition (EVP) that encompasses key benefits such as pay, health benefits, work environment, and company culture. The most effective EVPs are authentic, compelling, and aligned with a company's core values, business goals, and human capital strategies. Additionally, firms need to remain agile in their pay principles and adopt a phased approach to optimise pay effectiveness and prioritise long-term drivers of pay and performance. By leveraging on up-to-date market intelligence data, firms can further enhance their market competitiveness and ability to attract and retain top talent.
Download the report for deeper insights into human capital trends, so you can make informed decisions for your organisation and people.