Research

Asia Pacific: Heading toward a new employment deal

Asia Pacific findings from Willis Towers Watson's 2016 Global Talent Management and Rewards, and Global Workforce Studies

March 28, 2017

In Asia Pacific, employers are grappling with a shifting business landscape caused by rapid technology developments that affect how, where and by whom work gets done.

In such an environment, we might expect the war on talent and the pace of hiring to subside somewhat, but this isn’t the case. There’s still a need for top talent, and in particular, talent that aligns with the new digitised workplace. Attracting needed talent is more challenging than ever, as employers move toward digitisation while being constrained by limits on budgets and other resources.

Difficult-to-attract

Employers and employees alike must take stock of this dramatic shift. Employers recognise that to grow talent — and their business — they’ll need to move beyond the models, expectations and practices of the past. We see the outlines of a modernisation agenda emerging as employers take a new, agile approach to the development of talent and reward programmes to position themselves for growth.

However, many employers may not fully understand the implications for their business of an ever-shifting workplace and changing employment relationships. The pace at which organisations can deliver on the modernisation agenda will become a key differentiator of organisational success — and will help determine the winners and losers in the competition for high-value talent.

In this report, we present the most significant findings of two complementary studies designed to capture employee and employer perspectives on critical issues and trends in this new world of work.

  • The 2016 Global Workforce Study measures the attitudes of a representative sample of over 31,000 employees around the globe – 12,868 of whom are in Asia Pacific - to provide a detailed view into employees’ expectations and concerns.
  • The 2016 Global Talent Management and Rewards Study captures the perspectives of over 2,000 employers — 695 of which are in Asia Pacific — that collectively employ nearly 21 million people worldwide. The study explored timely attraction, retention and engagement issues essential to effective employment deals and reward strategies.

The findings from these studies will guide employers in their efforts to develop a modern employee value proposition and deliver a meaningful employee experience. Doing both effectively will go a long way toward reducing turnover, improving engagement levels, and increasing productivity and financial performance.