HEWITT EMPLOYEE DEVELOPMENT RECRUITMENT
Singapore - Southeast Asia (SEA) companies foresee a healthy business outlook, with 70% expecting an improvement in the business.
According to a recent Pulse Survey conducted by Hewitt Associates among 170 companies across Malaysia, Singapore and Thailand, companies are adopting different measures for the upcoming economic upturn. Malaysia leads the pack with 65% of companies saying that they will focus on strategic hiring of key positions in 2010. Thailand and Singapore follow at 46% and 44% respectively. In addition, 44% of Singaporean companies also suggest that they will give their employees a higher salary increase as compared to 2009.
Samir Bedi, solution leader of Hewitt's Performance Consulting Practice in SEA says, "Today, organisations are pressured to retain their key employees and high performers whom they have had made significant investments in a tough year like 2009". He adds that 2010 is the year when companies should be realising the full potential of their investments - which can only be possible if they manage to retain their talent. Likewise, this year, 71% of Singaporean companies have indicated an increasing trend in hiring strategically and talent management by retaining high performing knowledge workers.
Overall, companies across SEA say they continue to maintain their focus on employee skill development. The top three ways organisations are motivating top performers is through providing learning and developmental opportunities, reserving a portion of the salary increase budgets and creating incentive pools.
Despite the growth opportunities and business optimism, half of respondents have been skeptical about changing their salary increase budgets. However, 40% of Thai companies and 45% of Singaporean companies seem to be more optimistic about budget increases, while 61% of Malaysian companies are moving with an unchanged budget.
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