Article
Fuelling the Asian growth engine
Talent challenges, strategies, and trends
Technology and globalization are making the world a smaller place. In a quest for new opportunities, many organizations are focusing on Asia, a region offering strong prospects for future growth. The expanding Asian business landscape is resulting in further competitiveness for top talent and leaders.
To understand these national and regional dynamics in greater detail, Deloitte and Singapore’s Human Capital Leadership Institute (HCLI) embarked on a joint research project with a sharp focus on talent and leadership in Asia. The report explores talent and leadership trends across seven Asian markets (China, India, Indonesia, Malaysia, Singapore, Thailand, and Vietnam), and is based on executive responses from 212 organizations across various industries.
Survey findings highlight that Asian organizations face key challenges with overall scarcity of talent, talent attraction, and talent retention. The talent landscape is characterized by an employee “expectations paradox”, with employees expecting faster career progression and better rewards, whilst also expecting greater work-life balance. Organizations are struggling to find the balance between immediate, tactical people priorities and future-oriented strategies due to capacity and capabilities concerns. Rather than focus on trade-offs, the key to success is to develop an integrated “talent ecosystem”, tapping into internal and external talent management infrastructure to successfully achieve both tactical and strategic objectives.
Fuelling the Asian growth engine