In my last few years of consulting in South-east Asia, I have found that one question increasingly crops up in conversations with chief executives and human-resource leaders across the region: "How do we become a best employer?"
It is a complex question for organisations to answer, as the journey to best employer can often span multiple years, and represents a sum total of their efforts and investments in improving human capital, strategy, practices and processes.
Becoming a best employer usually starts as an aspirational goal articulated by the CEO, and represents a statement of intent.
While there are many companies that proclaim that "our people are our greatest asset", our global research over a decade proves that best employers most visibly back this up through their decisions and actions.
To understand the way forward, we must examine the best-employer journey from various perspectives.
Best employers, best results
Companies that invest in becoming a best employer are not driven by any altruistic motive.
They believe that if their organisation is recognised as an employer of choice, it will fundamentally improve their ability to attract the best talent in the market, motivate their workforce to achieve goals and retain high-performing and high-potential employees.
This will, in turn, help them to deliver better business results to shareholders.
Our global research corroborates this view, as we have found many cases where best employers surpass the market on key metrics like revenue growth, profit growth and workforce attrition.