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Staff attrition in Asia-Pacific caused by tackling the wrong problems, says new research

Staff attrition in Asia-Pacific caused by tackling the wrong problems, says new research

According to new research, rates of staff attrition across the Asia-Pacific region have reached as high as 67% per year. But most employers are still taking the wrong actions to retain key employees.  That's the message from the RPO and talent management specialist, Ochre House.

Ochre House's latest research project, involving 30 multi-national corporations operating in the Asia Pacific region and a cross section of their workforce at various levels, found all of the employers experiencing excessive rates of staff attrition - anywhere from 25% to as much as 67% in one case. HR professionals complained that their people always seemed to be chasing a 'better' job title - that they were often motivated , as much by the name of a role, as by its actual content. They also worried about how far and how fast bidding races for talent would go and had lost faith in the payment of bonuses as a retention tool. As one respondent put it, "As soon as we pay the bonus, they go."

The research also established the top four ways that companies were trying to tackle staff turnover, which were:

1)      Financial reward

2)      Professional title

3)      Outward status - e.g. size of reporting team

4)      Career development opportunities

 

However the top four identified by individual workers were as follows:

 

1)      Transparency

2)      Healthcare schemes

3)      Financial reward

4)      Professional title

"The research shows that there is a clear disconnect in terms of managerial and individual perceptions of the 'churn' crisis," says Ochre House's VP for Asia Pacific, Kieran Scally. "The overall conclusion of both the Ochre House research and our February think-tank in Hong Kong, when it comes to managing retention there is no one 'silver bullet' - each organisation must devise a tailored solution relevant to its own particular circumstances. However there are two key issues which underline the success or failure of any strategy. "

"The first is pay. Simply pushing it up only creates inflation within a sector. Instead employers need to create something unique that cannot be easily copied, that will not just retain but engage and motivate. And the second is engagement itself. Focusing on what someone thinks when they are in the process of leaving is like addressing symptoms rather than the disease itself. It's vital to understand what got them to this point in the first place. "

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