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New Report Highlights Seven Strategic Talent Priorities for Digital Transformation

Aon announces 7 Best Employers in Singapore for 2018

Technology Companies in Asia-Pacific Raise Hiring Expectations

 

New Report Highlights Seven Strategic Talent Priorities for Digital Transformation

28 August 2018—Leaders of organisations across Asia-Pacific and the Middle East (APME) can enable digital transformation, and enhance the success of their talent acquisition functions, by prioritising seven strategic actions, according to a new report from Aon’s Assessment Solutions.

Called Leading Digital Transformation for Talent Acquisition, the report highlights the key business and talent challenges facing employers across APME. It provides best practice guidelines on how these challenges can be met by: understanding your business; rearticulating your employer brand; strategically sourcing critical talent; creating a superior candidate experience; leveraging technology; meeting the interviewing challenge and converting your metrics to talent analytics.

“This report provides a blueprint for leaders who want to meet the challenge of a digital future,” said Tarandeep Singh, Partner and Assessment Practice Leader for Aon’s Assessment Solutions APME. “Digital working has disrupted organisations and fundamentally changed what businesses need from their talent. How you resolve your digital talent challenges will, to a large extent, determine the future performance and viability of your organisation. In this report, we present seven strategic insights that can help leaders to create a strong employer brand, make strategic shifts in line with the needs of the business and achieve greater organisational success.”

The report highlights that the role of talent acquisition professionals needs to evolve, so they can become ‘culture custodians’ capable of enabling cultural change.

“Digital transformation demands a lot from HR and from the business,” said Tarandeep Singh. “Now that AI and machine learning can help to screen and assess candidates, the role of talent acquisition has developed. When technology-enabled assessments can provide an accurate prediction of candidate behaviour, engaging those candidates becomes a new critical skill for talent professionals. Organisations that fail to make a digital transformation will flounder. But if you recruit and engage the right employees, they’ll perform better - and that will result in stronger business performance and higher customer satisfaction.”

Download the Leading Digital Transformation for Talent Acquisition white paper
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Aon announces 7 Best Employers in Singapore for 2018

Aon Best Employers in Singapore lead the way with a 20-point higher employee engagement score than the market average.

Singapore, 14 August 2018—Aon plc (NYSE: AON), a leading global professional services firm providing a broad range of risk, retirement, and health solutions, has named seven organisations as Best Employers Singapore 2018.

Aon Best Employers achieved an engagement score of 81%, compared to a market average of 61%. They also scored 20 points higher than market average across the Best Employer indices of employer brand, effective leadership, and high-performance culture.

According to Aon research, a 5% increase in employee engagement is linked to a 3% increase in revenue growth in the subsequent year.

In an uncertain business environment where 87% of Singapore organisations are undergoing digital transformation, Best Employers inspire their employees with a compelling vision. 83% of employees in Best Employer organisations agree that their senior leadership provide them a clear direction for the future (22 points higher than the market average).

In addition, Best Employers have a total rewards strategy in place that focuses not just on pay but learning and career development opportunities as well. 76% of Best Employer employees feel that they receive appropriate recognition for their contributions (21 points higher than market average).

The Aon Best Employers in Singapore for 2018 are:

Organisation

Category

DBS Bank

Best of the Best Employers

American Express International Inc.

Best Employer Singapore

Baxter Healthcare Asia Pte Ltd

Best Employer Singapore

DHL Express (Singapore) Pte Ltd

Best Employer Singapore

Mandarin Oriental, Singapore

Best Employer Singapore

McDonald’s Singapore

Best Employer Singapore

Singapore Prison Service

Best Employer Singapore

In addition, five organisations received special recognition:

Organisation

Category

DHL Express (Singapore) Pte Ltd

Honourable Mention for Commitment to Engagement

DBS Bank 

Honourable Mention for Engaging Generation Y

American Express International Inc.

Honourable Mention for Engaging Women in the Workforce

AMKFSC Community Services Ltd. 

Special Recognition for Social Service Organisations

Style Theory

Special Recognition for Start-ups

DBS Bank was also recognised as Regional Best Employer 2018 for Asia Pacific, after being named Aon Best Employer in India earlier.

Vikas Verma, Director, Talent, Rewards and Performance, Aon Singapore, said: “As the business environment gets challenging and the talent more discerning, organisations in Singapore must shift gears from providing career progression to career experiences. While what this means to each company is different, Best Employers have done well to identify their top engagement drivers and create a fit-for-purpose employee experience that maximises potential.”

Na Boon Chong, Managing Director and Partner, Talent, Rewards and Performance, Aon Singapore, added: “To thrive in this age of disruption, Best Employer organisations nurture an agile workforce that quickly moves from old jobs to new ones as they are created. An agile workforce must be supported by agile HR that delivers services based on reduced time-to-market, increased collaboration, regular reflection, and course correction based on evidence collected continuously during the entire employee lifecycle. Best Employers know that today’s best practices may not be tomorrow’s, and are always looking to ensure their HR remains relevant and responsive to the changing culture and work-styles of their organisations.”

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Technology Companies in Asia-Pacific Raise Hiring Expectations

  • The percentage of technology companies in Singapore that plan to hire aggressively increased by 29.4% relative to the previous quarter.

  • Voluntary employee turnover among technology companies in the Asia-Pacific region is highest in Australia at 12.8%.

Singapore, August 10, 2018—Technology companies across Asia-Pacific are reporting more optimistic hiring plans, according to new data from Radford, a division of Aon plc (NYSE: AON).

The percentage of technology companies reporting aggressive hiring plans—defined as actively planning and recruiting for organisational growth—increased in Q2 2018 from the prior quarter in six out of eight key markets in Asia-Pacific.

In Singapore, the percentage of technology companies that plan to hire aggressively in Q2 increased to 4.4% compared to 3.4% in the previous quarter. Australia reported the highest aggressive hiring plan across the region at 6.9%.



Meanwhile, voluntary employee turnover—another key metric on the health of the overall technology sector—remains high in most markets. Radford typically views voluntary turnover above 10% to be a concern that warrants further examination from companies.

Voluntary employee turnover was highest in Australia at 12.8% followed by India (12.7%), China (12.4%) and Singapore (12%).

Advice for Retaining Talent

Technology companies need to work especially hard to retain their top talent to fuel anticipated growth. Companies must first think about the types of rewards that are most important to their employees, particularly those that are seen as differentiating and reinforcing company culture. Then, companies should target those rewards at a competitive market point.

This is especially important for certain in-demand job functions in the technology sector. These are often jobs that involve the most cutting-edge technology, such as machine learning and artificial intelligence.
 
Alexander Krasavin, Partner and Radford Leader for Asia Pacific, Middle East, and Africa says: “The technology market across Asia-Pacific is strong as we head into the second half of the year. To support rapid hiring plans, companies must leverage both pay and non-monetary rewards. These can include perks that promote greater work/life balance, peer-to-peer recognition awards and internal mobility programs.”

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