The New Nation - Internet Edition

A RECENT study, as reported in the media, has found that Asia's workforce is becoming more individual-focussed, with employees changing jobs more frequently and searching for better opportunities. This shifting set of cultural norms and changing value of employees is expected to lead to 'a significant turnover rate' in critical talent roles, especially at the managerial and entry levels in the next three to five years. The study also has shown organisations have been replacing seniority-based employment, with an emphasis on results and performance.

The relatively small talent pool in Asia has resulted in a leadership crisis in many organisations, which may impede its further growth and development. The emphasis on performance and customer orientation also means that employers will have to provide their staff with greater independence, flexibility and challenging work, if they want to attract, motivate and retain the best workers. More than 80 business leaders and senior human resource practitioners in China, India and Singapore were polled for the study that was carried out by Hewitt Associates, Global Leader for Talent and Organisation Consulting as commissioned by the Singapore government ministry of manpower.

'We are now seeing a 'super-charging' of these issues - shortage of talent and lack of experienced leaders - in environments where companies are trying to grow 10 to 50 per cent", an analyst was quoted by the media to have said. The rapid flow of capital from West to East, where more than a billion dollars a week, for instance, flows into China to establish new business, continues to sustain these challenges'. The findings of the study will be presented, discussed and debated at the upcoming Singapore human capital summit on 'People Strategies for Asia' in October next when leaders and representatives would exchange views on the pressing issues concerned with industry and economy.