As we approach the end of another year, we thought it would be useful to look ahead to 2018 and some of the talent trends we expect to see gain further traction.
From our conversations with clients and other multinational companies (MNCs) in APAC, it is apparent that the confidence is there to invest further in two key areas – technology and people. Those businesses which harness the two within their organisations will be the ones best placed for success.
Among the key developments we expect to see in the coming year are:
Importance of data
The way corporates recruit continues to become more sophisticated with technology enabling organisations to have a much greater understanding of everything from the motivation of existing employees to the aims and aspirations of talent working elsewhere.
This allows for a far more strategic approach to talent acquisition with demand for talent mapping and pipelining and insight services increasing among MNCs.
The world is becoming ever more connected which means the race for the best talent will only intensify over the coming year.
A growing number of MNCs are setting up regional hubs in Singapore because of the strong talent pool and the can-do attitude to business that exists.
There will also be an ever pressing need to identify, attract and retain the very best people in emerging markets.
Employee Value Proposition
A company’s Employee Value Proposition (EVP) has never been more important.
Today’s and tomorrow’s talent are looking for a lot more from their employers than merely a good pay and benefits package.
They are far more demanding of prospective employers, with key criteria including workplace culture, a clear view of opportunities for career advancement and the engagement of senior leadership ranking particularly high.
Organisations that fail to make EVP an integral part of the way they do business will find it increasingly difficult to attract the best talent.
Organisations in Asia that commit to the implementation of formal diversity strategies will continue to reap the rewards. Some 30% admit to having no such policy, although the figure is likely to be somewhat higher.
Diversity takes on different forms. On the one hand, there continues to be an urgent need to address gender imbalance and, alongside it, putting in place shared parental policies.
But there is also a ‘localisation’ drive to ensure that there is the right balance between enabling indigenous talent to rise through the ranks into senior management roles while still ensuring the brightest external talent is able to find the right roles in Asia Pacific.
The relentless march of technology such as increased automation and Artificial Intelligence (AI) means that the talent that is most comfortable with technology will inevitably be the most sought after by MNCs.
The message as we approach the start of a new year is very clear: the businesses and candidates which are most willing to embrace change and move at pace are the ones best placed for success in this age of globalisation.
For organisations keen to stay ahead of the competition, the need to have a deep understanding of where talent lies and how best to attract it, has never been greater.
- Armstrong Craven is a global talent mapping and pipelining specialist with offices in the UK and Singapore.
- For more information about Armstrong Craven talent pipelining services in Asia Pacific, contact Heather Travis – firstname.lastname@example.org
- Follow Heather @singaporeAC