GlobalAutoTV
Click to watch Margery Marshall - Global Mobility Strategies
Click to watch Margery Marshall - Global Mobility Strategies
global resources
Need an office somewhere in the world? Office suites, meeting rooms, virtual offices, network access



free downloads
GLOBAL: "Global location strategy for automotive suppliers" report

GLOBAL: "Global location strategy for automotive suppliers" report. 24-page report by KPMG International.

proceed to download
eJournals




back to index backGLOBALtalk November,  2015


Polishing the Shine for Asia’s Top Talent

In a previous posting, I queried whether Western MNCs are losing their luster among top talent in Asia. This posting follows up on how employers can meet the challenge of increase competition for talent.

Western Multinational Companies (MNCs) have long had significant advantages in competing for Asia’s top talent:

- Good starting salaries and competitive compensation. Western MNCs invariably offer higher starting salaries for recent graduates and keep pace with market compensation levels.

- Well-known global brands. Working for a company with a premier global brand provides recognition and status in the local community

- Access to advanced technology. The opportunity to have access to and work on cutting-edge technology is an exciting prospect for many prospective recruits.

- Structured development and institutionalized know-how. Global companies provide access to a network of experts that can further both professional and personal development.

- International exposure. Working with colleagues from other countries as well as having the opportunity to work abroad is often a major consideration for selecting a Western MNC as an employer.

Despite these advantages, many Western MNCs are not offering opportunities commensurate to local Asian firms. Career progression to the top often requires an executive to move away from his home country, especially in globally integrated companies with dispersed operations geographically. Strategies and policies of many MNCs are set at the center leaving executives in the subsidiaries to execute plans created elsewhere. Plus, global pay policies and practices must consider equity across broad employee categories inhibiting the ability to make exceptions for top talent being lured away by Asian entrepreneurs.

Meeting the challenge

The advent of emerging Asian growth companies underscores that well-known best practices are becoming even more important in an increasingly competitive world. It has become even more essential that Western MNCs capitalize on their strengths. The challenge is not necessarily looking new ways to be competitive; rather, it is having the discipline to consistently follow HR strategies that have proven to be effective for some of the world’s most successful companies.

Understand and be sensitive to local environment. Housing, children’s education and health service support for parents and grandparents often are major concerns in China; yet, global policies preclude many MNCs from offering benefits in these areas. Adapting HR policies to local concerns can go a long way to increase employee commitment and loyalty.

Promote a unique employer value proposition. Building upon the organization’s strengths and unique employer value proposition is far more effective in attracting and retaining top talent than trying to imitate others (whether Western or Asian). An employer value proposition that is compelling and motivating can go along way to meeting the competitive challenge.

Offer viable career paths. MNCs can use their global network to offer career opportunities into and beyond mid-career, even for executives who do not want to move from home. Foreign assignments and regional responsibilities provide opportunities for the best Asian talent. Plus, more and more organization are integrating their global operations and giving regional and global responsibilities to executives who have opted to stay in their home country. In this way, career advancement is no longer limited by a small country operation.

Be creative with pay strategies. In an effort improve efficiency, many MNCs have set up regional or global compensation service centers to develop, apply and monitor global policies. While this approach reduces administrative cost and provides greater control over compensation management, it often leads to rigid pay structures and inflexible compensation policies. Rather than rigidly controlling everything centrally, some organizations have found that establishing global principles and guidelines that allow local operations to create innovative practices that address local needs is far more effective in retaining key talent. The best of these practices may then be adopted more widely in other locations.

It is given that competition for top talent in Asia will continue to grow into the foreseeable future. The question remains which organizations will be able to capitalize on their strengths to successfully hire and retain the best people and subsequently leverage that advantage to grow their business in Asia and beyond.

Source: Richard Payne via LinkedIn - GAI





previous page

go top
search our site


Loading

GLOBALtalk

Other articles from the same issue (November,  2015).

The conundrum of mobilising global talent
play read on

Not-so-happy returns: Big businesses fail to make the most of employees with foreign experience
play read on

Comparison of Average Annual Salaries in Korean and Japanese Automobile Industries
play read on

Learning from Switzerland’s Apprenticeship Model
play read on

Reform to the Mexican Federal Labor Law ("FLL")
play read on

International Health Coverage and ACA. What U.S. Expats Need To Know
play read on

China: New National Guidelines on Workers Compensation Premiums and the Impact on Payrolls
play read on

Driving Global Readiness: A Road Map
play read on

2015 Global Equity Incentives Survey
play read on

Small Businesses Tap Into Global Talent
play read on

Millennials value greater flexibility, appreciation, team collaboration and global opportunities
play read on

Changing Landscape of Connected Vehicle Market to Reach $1.2 Trillion by 2020, With 1.5 Million Professionals -- Candidates for Training
play read on

Entry-level salaries in India among the lowest in the Asia Pacific region
play read on

Regional Talent Management: Asian Expatriates in Asia
play read on

Is Turnover Mexico’s Formidable Foe?
play read on

Mexico places second for expats: survey Cost of living offsets concerns over safety and stability
play read on

Brazil Offers Both Opportunities and Obstacles for Companies and Their Transferring Employees, According to New Best Practices Report from Cartus
play read on

U.S. Hiring Plans for Q4 2015 Strongest in Eight Years; Global Outlook Uneven
play read on

The Changing World of Corporate Business Travel
play read on

How China country heads are coping
play read on

How to Handle Audits by Labor Bureaus in China
play read on

Proposed Revisions to the EU Pension Directive in Progress
play read on

Refugees a 'godsend' for future German growth
play read on

U.S.: Do SEC Pay Ratio Disclosure Regulations Matter for Foreign Companies?
play read on

The Extension of Labor Contracts in China: Legal Responsibilities and Risk Management
play read on

Polishing the Shine for Asia’s Top Talent
play read on


Our Free eJournals
GlobalAutoExperts

To visit GlobalAutoExperts Directory, click here.


©2008 GlobalAutoIndustry.com | HCI Group, Ltd.
101 West Big Beaver Road, Suite 1400 | Troy, MI 48084 USA
USA Tel: +1.248.687.1060 | USA Fax: +1.248.927.0347
Fax UK: +44.(0)845.127.4765 | Fax Europe: +31.20.524.1659 | Fax Asia: +852.3015.8120