June 11, 2015 – Thirty percent of senior executives are currently thinking of seeking other employment options, while another 28 percent of them said they might do so within the next two years, according to a recent Heidrick & Struggles‘ Asia Pacific Consumer Markets Report. Of the 30 percent that are currently considering switching jobs, 18 percent are already actively looking for new jobs. Only 19 percent of respondents said that they plan to stay with their employer for a long time. “Gone are the days when more money meant more staff motivation. Today’s candidates also value intangible job benefits that make their work rewarding,” said Karen Fifer, global managing partner of Heidrick’s consumer markets practice.
“Culture, purpose and the satisfaction that comes from working with inspirational leaders are all increasingly important to candidates when choosing their next employer. To win the talent war, companies need to rethink and enhance their employment strategies and ensure that what is appealing about their brand and employment practices is externally visible.”
Other significant findings in the Asia Pacific Consumer Markets Report: 95 percent of respondents believe that a strong employer brand is crucial to a company’s success. When asked what their companies needed to address to become better places to work, work culture (74 percent), advancement opportunities (69 percent) and senior leadership (67 percent) ranked highest.
The study consisted of two streams of quantitative research and a number of qualitative interviews across the Asia Pacific region. The first quantitative survey drew data from 102 CEOs and HR directors in the consumer sector regarding the deployment of their employer branding strategies, while the second survey gathered responses from 132 senior executives on factors that attract them to, and retain them at, an organization.
Contributed by Dale M. Zupsansky, Managing Editor, Hunt Scanlon Media