Asia Pacific nations faced with challenging speeds of growth

Asia Pacific nations faced with challenging speeds of growthNations across the globe are facing new challenges when it comes to the growth of their companies, with organizations facing a differing nature of development and adaptation depending on which countries they are based in.

According to a new report released by Randstad Asia Pacific, entitled the World of Work Report 2012/13, companies operating in the east of the world will face changes to their business that are vastly different to those in the western economies.

Deb Loveridge, managing director of Asia Pacific for Randstad said that while mature markets face such challenges as dealing with multi-speed economies, falling productivity and a greater call for specialist skills, those in the emerging nations are having to come to terms with rapid modernization, slowing economical growth and shrinking export markets thanks to financial worries overseas.

She also added that while workplaces in general are ready for change, as well as being no stranger to it, the pace at which they now need to adapt is greater than it ever has been

With technology evolving, it has brought a new trend that Asia Pacific firms are having to deal with and adapt to. Flexible working, whereby people are able to work from home thanks to the opportunity to always be linked to the office via cloud technology has meant that there is a new structure to offices across the region.

However, only a third of employers said that they are doing a good job of adapting to flexible working in terms of recruitment, leaving room for improvement as the trend becomes more popular.

Some of the major changes between the current time and the future will come for those who are working in positions where leadership is the key throughout various companies. According to the report, leadership is currently more about the status and the fact that people in these jobs are the overseers of what goes on.

However, in years to come, Asia Pacific companies will move more towards looking at future planning and development for leaders, with a focus on looking at ways the business itself will need to adapt and change in the future.

One of the biggest issues that these professionals will be tending to surround workforce planning, with what Ms Loveridge calls an "alarmingly low" rate of forethought going into this at the moment.

The report found that 48 per cent of companies are only planning for their workforce for a period of time less than 12 months, while 38 per cent are doing so for a year. Above that barrier, the rates drop drastically, with just 11 per cent planning for two years and only four per cent looking four years into the future.

The problem that this can give is that employees fail to become engaged with the forward-thinking vision of the firm, and many will end up leaving to look elsewhere for positions because of this. The report discovered that employee turnover is a severe issue for companies in the Asia Pacific sector, with a lack of a visible opportunity for growth or advancement within the firm itself acting as a major reason for people leaving and looking for firms that have adopted more of a future vision.


To read the Randstad World of Work Report 2012/13: Please click here

Posted by Fiona SummersADNFCR-2498-ID-801499058-ADNFCR