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- Thepercentage of technology companies in Singapore that plan to hire aggressivelyincreased by 29.4% relative to the previous quarter.
- Voluntaryemployee turnover among technology companies in the Asia-Pacific region ishighest in Australia at 12.8%.
SINGAPORE - Media OutReach - August 10, 2018 - Technologycompanies across Asia-Pacific are reporting more optimistic hiring plans,according to new data from Radford,a division of Aon plc (NYSE: AON).
The percentage of technology companies reporting aggressive hiringplans-- defined as actively planning and recruiting for organisational growth --increased in Q2 2018 from the prior quarter in six out of eight key markets inAsia-Pacific.
In Singapore, the percentage of technologycompanies that plan to hire aggressively in Q2 increased to 4.4% compared to 3.4% in the previous quarter. Australia reported the highest aggressive hiring plan across the region at 6.9%.
Percentageof Technology Companies Reporting Aggressive Hiring Plans
| Q1 2018 | Q2 2018 | % of Change |
| Australia | 5.5% | 6.9% | + 25.4% |
| China | 8.8% | 9.2% | + 4.5% |
| Hong Kong | 1.3% | 1.8% | + 38.5% |
| India | 12.9% | 16.8% | + 30.2% |
| Japan | 3.8% | 4.0% | + 5.3% |
| Singapore | 3.4% | 4.4% | + 29.4% |
| South Korea | 2.9% | 2.2% | - 24.1% |
| Taiwan | 3.8% | 2.5% | - 34.2% |
Source: Radford Global Technology Survey Quarterly Workforce Trends Report
Meanwhile, voluntaryemployee turnover-- another key metric on the health of the overall technologysector-- remains high in most markets. Radford typically views voluntaryturnover above 10% to be a concern that warrants further examination from companies.
Voluntary employeeturnover was highest in Australia at 12.8% followed by India (12.7%), China(12.4%) and Singapore (12%).
AverageVoluntary Employee Turnover at Technology Companies
|
| Q1 2018 | Q2 2018 | % of Change |
| Australia | 12.7% | 12.8% | + 0.8% |
| China | 13.1% | 12.4% | - 5.3% |
| Hong Kong | 11.3% | 10.9% | - 3.5% |
| India | 12.9% | 12.7% | - 1.6% |
| Japan | 9.7% | 10.1% | + 4.1% |
| Singapore | 11.6% | 12.0% | + 3.4% |
| South Korea | 9.9% | 8.4% | - 15.1% |
| Taiwan | 8.9% | 9.2% | + 3.4% |
Source: Radford Global Technology Survey Quarterly Workforce TrendsReport
Advice for Retaining Talent
Technology companiesneed to work especially hard to retain their top talent to fuel anticipatedgrowth. Companies must first think about the types of rewards that are mostimportant to their employees, particularly those that are seen asdifferentiating and reinforcing company culture. Then, companies should targetthose rewards at a competitive market point.
This is especiallyimportant for certain in-demand job functions in the technology sector. These are often jobs that involve the mostcutting-edge technology, such as machine learning and artificial intelligence.
Alexander Krasavin, Partner and Radford Leaderfor Asia Pacific, Middle East, and Africa says: "The technology market acrossAsia-Pacific is strong as we head into the second half of the year. To supportrapid hiring plans, companies must leverage both pay and non-monetary rewards.These can include perksthat promote greater work/life balance, peer-to-peer recognition awards andinternal mobility programs."
About Radford
Radford delivers talent and rewards expertise totechnology and life sciences companies. We empower the world's most innovativeorganizations--at every stage of development--to hire, retain and engage theamazing people they need to create amazing things. Today, our surveys providein-depth rewards insights in 80-plus countries to more than 3,000 clientorganizations, and our consultants work with hundreds of firms annually todesign talent and rewards programs for boards of directors, executives,employees and sales professionals. Radford is part of the Talent, Rewards &Performance practice at Aon plc (NYSE: AON). For more information, please visit radford.aon.com .
About Radford Global Technology Survey
The Radford Global TechnologySurvey provides human resources and compensation professionals with access torewards insights covering more companies, incumbents and countries on a singlesurvey platform than any other data provider. Today, our survey spans 2,233 participatingtechnology companies, 7.4 million incumbents, 3,000+ unique jobs and 88countries with reported results. For more information about Radford GlobalTechnology Survey, click here .
About Aon
Aon plc (NYSE:AON) is a leading global professionalservices firm providing a broad range of risk, retirement and health solutions.Our 50,000 colleagues in 120 countries empower results for clients by usingproprietary data and analytics to deliver insights that reduce volatility andimprove performance.
For further information on our capabilities and tolearn how we empower results for clients, please visit https://apac.aonhewitt.com
