U.S., Asian employers share common challenges

Recently released results of the "Best Employers in Asia" study reveal striking similarities between the challenges, philosophies and practices of Asian employers and those in the United States.

The study, conducted by global human resources outsourcing and consulting firm Hewitt Associates, in partnership with The Asian Wall Street Journal and the Far Eastern Economic Review, collected data from 305 organizations across eight markets: China, Hong Kong, Korea, Malaysia, Philippines, Singapore, Taiwan and Thailand.

The study found that the best employers in Asia believe that people are central to an organization's success, are strong and effective in executing people issues and make business decisions with their people in mind.

"Leading employers across the globe are recognizing the critical impact of people on their business and the impending scarcity of top talent, and, in turn, are paying much closer attention to their people," said Ray Baumruk, employee research leader at Hewitt Associates.

Another key finding is that money is no longer the primary driver for recruiting and retaining key talent.

The top motivating factors in Asia are:

1. recognition;

2. supportive employer policies; and

3. career opportunities.

The top motivating factors in the United States are:

1. career opportunities;

2. supportive employer policies and procedures; and

3. senior leadership and recognition (tied).

"Employees consistently want the same things from their employers, regardless of geography," said Baumruk. "We see similar themes arising from studies done in the U.S., Asia and other areas of the globe that suggest that all employers must focus on the things that matter most, relentlessly develop talent, demonstrate respect for their people, hold employees accountable, recognize achievement and harness the power of their culture to create a close-knit, loyal environment."

Just as in the United States, the 305 CEOs of Asian companies surveyed identify some common challenges:

ensuring sustainability through a changing environment;

creating and delivering high performance with fewer resources; and

retaining and developing high quality talent.

"The Best Employers In Asia study reinforces what we've learned in other similar studies we've conducted and seen over the past several years around the globe," said Baumruk.