Asian companies 'focusing on staff retention'

Date: 26/04/2010

A recent study has concluded that incentives and recognition could be the order of the day for most companies in Asia, following the discovery of a major focus on staff retention.

Thomsons Online Benefits' Asia Employee Rewards Watch 2010 found that the HR challenge regularly identified by respondents was employee retention with 61.19 per cent of respondents claiming it to be the key thing for them to focus on.

However, the maintenance and improving of morale and employee engagement came second with 54.23 per cent of companies centring their operations on the issue.

Controlling employee costs was third with 39.80 per cent, reflecting respondents' overall confidence and concern that growth will bring about familiar pressures on employee retention as it did before the downturn.

Global reward director Marcus Underhill said: "Forward-thinking companies are looking for ways to improve employee engagement and how they communicate reward programmes.

"The current and future economic climate looks promising for Asia, while uncertainty persists for western economies."

Many places in Asia are currently going about implementing minimum wage tariffs, improving employee morale across the board.

Posted by Michael Ewing ADNFCR-2060-ID-19742409-ADNFCR

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Asian companies 'focusing on staff retention'

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