|How Asian Companies Improve Staff Retention|
|Written by Administrator|
|Tuesday, 04 December 2012 07:44|
Employees will not just stay in your company because it offers novated lease. There a handful of factors must needed to be considered to retain workers and staff and improve their productivity, as it is crucial to the company’s growth and long-term success. In Asia, much attention is also given on the ways and strategies to accumulate highly productive workers and minimize their turnover rates.
Take a good look at China. Being the most populous country,one may think that the demand for manual labor is easy in this country, but still, the country has issues in retaining and maintaining employees. Due to the steady economic growth and increasingly mobile market, China’s business ground enables employees to hop from one job to another, reaping with them substantial pay increases. For the last five years, salaries in China have risen way above the inflation at 7 to 8 percent increase to an average employee’s wage while his total compensation increased to a staggering 9 percent. Due to this trend, Chinese companies and employers look out for strategies that will help weave tactics for them to retain valuable workers.
One solution is by offering the classic competitive market compensation. Companies ensure that they are offering competitive salaries; these salaries are considered high in comparison with their other neighboring countries, to include bonuses that are greatly appreciated by young professionals. This comes in two forms, performance-based bonuses and annual bonuses.
Another concept is providing a good leader. Today, transformational and caring leadership is treasured by Chinese companies for it creates strong bond with the employees, making them loyal not only to the leader but to the company itself. These leaders are trained to put great significance to ethics and integrity while sharing his vision for progress to the company. As statistics show, caring leaders spend 30 percent of their time giving career guidance to employees with viable work potentials.
In addition, Chinese companiesas well as companies from neighboring Asian countries focus on training the young professional. Many FIEs in China have realized the potential and greatness of hiring young, energetic, enthusiastic and motivated professionals. That is why companies even offer overseas training to employees not just to improve his capability but also to retain him in the company. The best amongst hundreds of employees shall be given a chance to have an international education sponsored by the company.
Lastly, one of the simplest, most effective ways to retain employee is producing a culture of happy working individuals inside the four walls of the office.
|Last Updated on Monday, 29 July 2013 07:01|