aon best employers - singapore 2015 country report sample
TRANSCRIPT
Prepared by AonPerformance, Reward & Talent
Best Employers – Singapore 2015Country Report
February 2016• Please note that the slides here represent a few highlight taken from the Country Report• You can get access to the full report by submitting at the end of this sample
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The Country Report provides a deep-dive into our observations, supporting practices and outcome on the Best Employers construct in Hong Kong.
We hope you continue successfully on this journey.
Best Employers Program in Asia Pacific
Aon began the Best Employers research in Asia in 2001 to provide insights into how organisations can create real competitive advantage through people and explore the contours of what makes a workplace of choice.
15 Years of Best Employers Data Insights and Best Practices
Our 15 years of Best Employers studies in Asia, backed with engagement research of over 6,400 global organisations including 2,300 in the region, covering 800,000 employee’s opinions support the striking evidence: Having a high level of Employee Engagement, a Compelling Employer Brand, Effective Leadership and a High Performance Culture translates into a committed and productive workforce that delivers stronger business results.
Through our research, we know that high employee engagement not only delivers greater shareholder value, but it also reduces staff turnover and improves customer satisfaction.
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Best Employers - Asia Pacific
The Best Employers program is conducted in 12 markets:
Australia
China
Hong Kong
India
Indonesia
Japan
Korea
Malaysia
New Zealand
Singapore
Taiwan
Thailand
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What Constitutes a Best Employer ?
Four Measurable Factors Contribute to Whether an Organisation is a Best Employer
High Employee Engagement
Say: The employees consistently speak positively about the organisation to co-workers, potential employees and customers
Stay: The employees have an intense desire to be a member of the organisation
Strive: The employees exert extra effort and engage in work that contributes to business success
Compelling Employer Brand
Reputation: The organisation is well-known and has a good reputation in the market, especially for those target groups which are critical for the organisation’s business success
Internal Brand: Employees are proud to be part of the organisation, and can explain what makes working here different from other organisations
Credibility: Employees believe that the organisation delivers on its promises it makes to employees
Effective Leadership
Future Vision: Leaders show clear and compelling future vision to the members of the organisation
Valuing People: Employees experience that leaders are appropriately visible and accessible; treat them as organisation’s most valued asset
Business Excellence: Employees trust their senior leaders to be open and honest; and believe they make good business decisions to drive the organisation to success
High Performance Culture
Accountability & Trust: Managers set clear goals and expectations, and employees know how they can best contribute to realise their business strategy
Reward: Rewards and recognition for high performance are clearly understood and transparent to employees
Growth: The organisation prepares for future challenges by offering interesting careers for high potential employees and learning opportunities for all employees
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50% 60% 70% 80%50%
60%
70%
80%
Critical People Challenges – Singapore 2015
Consistent with Asia, Critical Skills Shortage and Rising Sales are the Top Concerns
On average only 30% of organisations feel they are prepared to tackle these risks Poor labour relations features low in Singapore, in contrast to other markets
People risks likely to impact your business
Medium
High
Likely Near Certain
Rising Salaries
Critical Skills
Shortage
Availability & Selection of
Talent
Degree of impact ofthe people risks
Inability to Retain TalentInadequate
Leadership Pipeline
Inability to Attract
Talent
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Best Employers Summary – Singapore 2015
High Employee Engagement Compelling Employer Brand
80%88%
59% 66%
Effective Leadership High Performance Culture
80% 81%
60% 59%
Market Average Best Employers
The Best Employers Outperform the Market by 21% Across All 4 Pillars
Best Employers filled 42% more openings internally compared to market level
Best Employers have 25% lower attrition
Best Employers achieve 29% higher income than market average
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High Employee Engagement – Singapore 2015
81%
75%
84%
61%
54%
64%
SAY: The employees consistently speak positively about the organisation to co-workers, potential employees and customers
STAY: The employees have an intense desire to be a member of the organisation
STRIVE: The employees exert extra effort and engage in work that contributes to business success
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Employee Engagement index
2003 2007 2011 2015
81%
82%
89%
81%
86%
85% 80%
59%54% 60%
60%
59%
62%
59%
Favourable engagement scores overthe last 15 years
Market Average Best Employers
Best Employersengagement score
at 80%is significantly higher than market average
at 59%
Overall Employee Engagement Scores in Singapore Have Remained Stagnant Over the Last Ten Years. The Scores for Best Employers Have Fluctuated to Some Extent.
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Compelling Employer Brand – Singapore 2015
More Than 6 Out of 10 Employees Surveyed Said that They Were Likely to Recommend Their Organisation to a Friend Seeking Employment
83%
87%
87%
63%
68%
63%
REPUTATION: The organisation is well-known and has a good reputation in the market
INTERNAL BRAND: Employees are proud to be part of the organisation, and can explain what makes working here different from other organisations
CREDIBILITY: Employees believe that the organisations delivers on its promises it makes to employees
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Employer Brand index
Best Employers
employer brand index
at 88%is significantly higher than market average
at 66%
Market Average Best Employers
Net Pro-
moterScore
Promoter Passive Detractor
77%84%
9% 7%
46%
63%
21% 17%
Net promoter score 2015The NPS gap between Best Employers and the market average has widened by 4% over the 2013 results
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Effective Leadership – Singapore 2015
100% of the Best Employers Have Their High Potential Programme Integrated Into Talent Management Processes Compared to 60% Market Average
Higher fixed pay and/or benefits
External coaching and/or mentoring
Accelerated career growth
Increased access to and interactions with senior executives/top management
Customised learning and development opportunities
25%22%
10%0%
15% 33%
29% 33%
29% 33%
31% 33%
Placement in high impact roles
Market Average Best Employers
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Walking the Talk – Distance to Cover Between Rhetoric and Reality
6
71% of CEOs say people managers have the tools and
resources to manage.
But only 55% ofpeople managers feel they are
fully productive.
Leaders say “our employees are our greatest asset”.
But only 58% ofemployees believe their senior
leaders treat them as their organisation’s most valued
asset.
Career opportunities is the top driver of engagement
across all generations.
But only 54% ofemployees think they have
good career opportunities at their organisation.
65% of organisations said that they have a clearly defined
employer brand.
But only 15% have complete alignment between the CEO and HR definition of
their employer brand.
Effective Leadership
High Employee
Engagement
CompellingEmployer
Brand
High Performance
Culture
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Start Your Journey by Having a ‘Best Employers’ Baseline
Business Strategy
Strategic priorities for an organisation
Employee Expectations
Employee opinion, aspiration and needs
People Practices
Maturity of HR program and practices
Review Alignment
Across 3 Pillars
Benchmark to Best
Employers
Prioritise Your HR
Agenda
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Participation Benefits
Best Employers is more than just a study, it is an on-going program. The service includes the following benefits:
Employee Opinion Benchmark Report – your organization scores on Best Employer themes benchmarked to best employers and market scores1People Practices Benchmark Report – your people practices maturity relative to key industry and market benchmarks2Consulting Advice – two hours session presenting your organization’s results and insights by an experienced Aon Hewitt consultant3Country report - presenting country-specific HR and Business insights and trends on the Best Employer themes4Best Employers Awards Ceremony and Learning Conference – sharing of insights by Aon Hewitt and Best Employers including Best Employers felicitation 5Access to Digital Library – sharing research, multi-media content, case studies and best practices through our digital library (2 logins per participating company)6Media promotion for organizations that make it to the Best Employers list, to enhance your employer brand and talent attraction and retention activity7
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Contact Information
To order full Best Employers – Singapore 2015 Country Report, please click here
To participate in Aon Best Employers – Asia Pacific 2016, please contact
Zihao Chua
Project Manager
Best Employers – Singapore
Gitansh Malik
Regional Project Manager
Best Employers – Asia
Aon Hewitt Asia
@Aon HewittAsia
Aon Hewitt
Join us on a Journey to Becoming a Best Employer 2016