Employees in Asia Pacific are weighing up what matters most when it comes to work and benefits. It's important for employers to respond to these changing views and develop an employee-centric environment.
The way that employees experience their work and life has been influenced by drastic workplace changes in recent years. WTW’s 2022 Global Benefit Attitudes Survey found many employees in Asia Pacific are facing major changes and challenges, such as mounting financial insecurity and increasing use of technology.
Employees are weighing up what matters most in their careers, putting organisations at risk of retention challenges. Our research shows that 28% of employees across Asia Pacific are actively looking for a new role and considering changing employers, while a further 25% are open to changing jobs if they could.
28%Employees in Asia Pacific looking for a new role
25%Employees open to changing jobs if they could
Pay and bonus remain the leading pull factor for talent across the region, followed by job security and commitment to workplace flexibility. On the other hand, job security is the most important factor for employees to stay with their current employer (Figure 1). Another area of significant importance is a ‘sense of purpose’. Employees want to work for an organisation that aligns with their values, where their voice is heard, and where they know how their work makes a difference.
What are employees looking for?
Figure 1. Top attraction and retention factors in Asia Pacific
Attraction
Retention
Pay and bonus
Job security
Job security
Pay and bonus
Flexible work
Sense of purpose
PTO and broader leave
Flexible work
Sense of purpose
Relationship with co-workers
Practicality fuels other priorities, especially when the financial wellbeing of Asia Pacific employees has deteriorated over the past years (Figure 2). Many worry about their financial ability to access private healthcare and save for retirement.
Figure 2. Employees are experiencing increased financial challenges
Employees have also become more reliant on technology, with 38% of employees regularly use financial planning and banking apps and 48% using virtual care for health consultations. Almost six in 10 employees would like their benefits to include online tools to support their health and financial wellbeing (Figure 3).
Figure 3. Employees in Asia Pacific believe digital applications should be a core benefit
Employers and HR managers have much to do to ultimately influence positive workplace behaviours, experiences and outcomes. To get started, you can structure a benefit plan and employee-centric work environment with these key considerations:
Build a sense of purpose in the workplace
Today’s employees expect their organisation to have a positive impact on their customers and the wider community and to feel connected to these efforts. Amplifying a sense of purpose for your employees empowers them to feel more engaged in their work and build a desire to stay and contribute to the organisation’s goals. Purpose is also one of the indicators of a high-performance employee experience, linked to exceptional business performance.
Keep your ear close to the ground
Employee listening is key to delivering an elevated benefits experience. Having employee listening strategies in place will let you know how to effectively support and engage your employees in a fast-changing work environment. We advocate using agile strategies, such as bite-sized programs that can get you quick but meaningful feedback from employees.
Communicate effectively with your unique workforce
A well-designed benefit plan is most powerful when it is understood and properly utilised. With a demographically diverse workforce and increasing prevalence of hybrid work — engaging all segments of your population may be a challenge. Mix up your communication tactics with both traditional (emails, posters and in office initiatives) and modern tools (social media, blogs and videos) to catch the attention of your employees.
Drive innovation and opportunities for your people
To truly resonate with your employees, benefits should go beyond a one-size-fits-all plan. The modern employee knows that there are more to their common benefit options. Be flexible and creative when it comes to perks and other types of benefits such as generous time-off policies, flexible work schedules or opportunities to reskill and upskill.
