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Employees in the travel, tourism, hospitality and lifestyle industry, in the Asia Pacific, are placing greater emphasis on their career development and satisfaction levels, the latest ACI Salary & Employment Trends Report has found.
According to the report, seven in 10 employees (70%) surveyed in Singapore, Thailand, Indonesia, and Malaysia among others, rated career progression as either “extremely important” or “very important” in 2020, up from 67% in 2019.
In line with this, four in 10 (40%) believed their current employer offered “excellent” or “good” opportunities for career progression, a slight increase from 38% the previous year.
While this was so, there was also an increase in the percentage of respondents who felt they had “poor” or “zero” career prospects with their current employer (30% in 2020, vs 27% in 2019).
In terms of training, a majority of respondents did say they had received fair training from their current employers. However, a significant 34% still revealed they had received poor or no training and development, up from 29% in 2019.
By age group, the report revealed the following:
Apart from career and training, employees in the region were also asked if they had received some form of salary increment. Out of all respondents, a majority (40%) saw a 1-5% increase in pay last year, a slight decrease y-o-y, where 68% had received an increment in the previous year.
As for bonuses, most respondents had received one to two months’ bonus, with a further 29% receiving more than two months’ bonus – a similar finding to the 2019 report.
As for age group-specific results, the following table indicates the responses:
Should they stay or should they go? Employees’ plans for the next 12 months
With the above factors understandably playing an important role in whether or not employees decide to stay on, the report revealed an increase in the number of employees who expressed plans to change employers and/or industries over this year (62% in 2020, vs 56% in 2019).
More importantly, 86% of these employees were found to be those who had indicated poor career progression opportunities and poor training and development by their current employer.
Hiring managers’ employment plans for 2020
On the hiring manager’s end, about four in 10 (41%) are looking to add headcounts to their companies in 2020. At the same time, another four in 10 (42%) expect to only replace their headcounts, while 13% are unsure of hiring, and a lower 4% expect to retrench.
Lead photo and infographics / ACI HR Solutions’ Salary & Employment Trends Report