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Nearly 6 in 10 Executives in Asia Considering Employment Options

2015-05-28 09:03
--- Strong employer brand key to attracting, retaining best and brightest; Strength of leadership team is bigger factor to candidates than compensation

HONG KONG, May 28, 2015 /PRNewswire/ -- Heidrick & Struggles (NASDAQ: HSII), the premier provider of executive search, leadership consulting and culture shaping worldwide, today released its Asia Pacific Consumer Markets Report 2015 on employer branding following an extensive research study across the Asia Pacific region.

"Employer branding is relatively under-leveraged in a world crying out for differentiation, where talent is king and demand trumps supply," said Karen Fifer, Global Managing Partner of the Consumer Markets Practice at Heidrick & Struggles. "Top talent brings top results. Just as the customer experience is at the epicenter of every retailer's and consumer-facing company's strategy, 'employee experience' should be at the heart of every company's employer brand."

Employer branding refers to positioning by a company to enhance its employment experience to match the factors that appeal to its target candidates—and then communicating its employment story effectively.

The study of CEOs and other senior executives in the Consumer sector throughout Asia Pacific indicates a fluid job market creating significant challenges for organizations seeking to retain talent:

  • Nearly 60% are considering other employment options.
  • 28% expressed interest in leaving their company within two years if a better opportunity arises.
  • 18% are actively looking for new jobs and 12% are thinking about leaving.
  • Only 19% of respondents say they plan to stay with their employer indefinitely.

"Gone are the days when more money meant more staff motivation. Today's candidates also value intangible job benefits that make their work rewarding," Fifer said. "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 Asia Pacific Consumer Markets Report 2015 include:

  • Employer branding is important, but often is not driven strategically. While nearly all senior executives surveyed (95%) believe that a strong employer brand is important to the success of their company, only 54% said they have an employer branding strategy in place.
  • Candidates consider the quality of a company's leadership team far more important than compensation. Today's candidates demand credible and inspiring leadership teams with a global outlook and experience across diverse business sectors. They also look at the health of the business, its reputation in the media, level of innovation, commitment to driving social sustainability, and even the CEO's personal brand, as crucial employment factors. Surprisingly, compensation was ranked as the least important factor.
  • Work culture, potential for promotion and senior leadership are key areas for improvement for Consumer companies in Asia Pacific. When asked what their companies need to address to become better places to work, work culture (74%), advancement opportunities (69%) and senior leadership (67%) ranked highest.
  • Branding isn't just what the company says about itself but what people "out there" are saying. Thanks to social media, including commentary platforms such as Glassdoor and LinkedIn, corporate behavior is highly visible. Reputation is influenced by social perception -- 46% say they rely on social media to size up the quality of an employer.

The full Asia Pacific Consumer Markets Report 2015 report is available here.

About the research:
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.

About Heidrick & Struggles:
Heidrick & Struggles (Nasdaq: HSII) serves the executive talent and leadership needs of the world's top organizations as the premier provider of leadership consulting, culture shaping and senior-level executive search services. Heidrick & Struggles pioneered the profession of executive search more than 60 years ago. Today, the firm serves as a trusted advisor, providing integrated leadership solutions and helping its clients change the world, one leadership team at a time. www.heidrick.com


Media contacts:


Karen Lau

Lia Randazzo

+852 2103 9329

+1 312 496 1788

klau@heidrick.com

lrandazzo@heidrick.com

Photo - http://photos.prnewswire.com/prnh/20150527/218993
Logo - http://photos.prnewswire.com/prnh/20140822/139029

Source: Heidrick & Struggles

Related stocks: NASDAQ:HSII

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