Firms battle to keep staff in war for talent
THE 2005 BEST Employers in Asia awards focused on five major markets - China, Hong Kong, Thailand, Malaysia and Singapore.
About 250 companies took part, representing a labour force of 300,000 throughout the region. Among that total, more than 69,000 employees completed the survey. In Hong Kong, 33 companies took part from the public and private sectors.
One of the key objectives for Hewitt Associates was to understand what steps companies were taking to attract, motivate and retain staff in the 'war for talent'. The company said there was a clear connection that showed that the best employers excelled in people practices and used these to consistently engage employees. This helped to create a form of 'internal branding' that led to better corporate results.
Essentially what mattered was establishing an employment relationship based on an alignment of employee needs, goals and priorities with the strategies and goals of the overall business.
'The best employers manage their businesses in ways that build long-term success and sustainability. They create a workplace culture that is supportive, promotes learning and leadership development, and encourage staff at all levels to excel,' said Hewitt HR consultant Simon Keeley.
He said this was reflected in the passion, energy and commitment employees had for the organisation.
The best employers also stood out in the way they communicated corporate policies and recognised staff.
Companies choose to take part in the best employers awards for several reasons. The process allows them to review their internal procedures and benchmark themselves against industry competitors and international best practices. This exercise helps to identify areas requiring improvement.