Unlocking APAC: HR Tech Growth Strategies for 2024
Mercer and People Matters partnered on a recent message to create urgency and enthusiasm for a growth market presenting huge opportunity in 2024: Asia Pacific.
The webinar, hosted by Jess Von Bank, Global Leader of Vendor Services at Mercer, and Pushkar Bidwai, Chief Business Officer at People Matters, divulged several key understandings if HR Technology solution providers are to capitalize on immediate and relevant opportunities to drive and sustain growth in one of the world’s fastest growing economies.
Key understandings:
-
Upskilling HR:One of the major challenges highlighted during the webinar was the need for HR functions to upskill themselves. HR leaders are feeling the pressure to become more agile, better absorb innovation, and drive sustainable change within their organizations. HR executives must be consumers of continuous learning and development to keep up with the rapidly evolving workforce and to ensure HR is well-equipped to drive strategic initiatives. For solution providers, that requires more enablement, change support, and thought leadership than ever before.
-
Market-specific Challenges:The APAC region comprises diverse countries with varying levels of maturity in terms of HR practices. It is crucial for organizations to understand the nuances and specific challenges of each market they operate in. The webinar emphasized the need for organizations to work with partners who have deep knowledge of the local landscape to identify opportunities and navigate potential obstacles effectively.
-
Pay and Benefits:According to the webinar, pay and benefits remain the top drivers for attracting and retaining talent in APAC. However, it is essential for organizations to understand that expectations and priorities may differ across different generations and countries within the region. HR leaders and their solution partners need to stay updated on market trends and tailor their solutions and strategies accordingly. A “glocal” (global-local) mindset is necessary, and messaging and positioning must vary by market.
-
Digital Transformation:Digitalization and innovation were highlighted as key focus areas for HR in APAC. The webinar emphasized the importance of leveraging technology to streamline HR processes, enhance productivity, and drive strategic initiatives. HR leaders were encouraged to invest in modern HR systems and tools to stay ahead in the rapidly evolving digital landscape.
-
Flexibility and Work-Life Balance:While flexibility was once a top expectation for employees in APAC, the webinar noted that it has become more of an established norm in many organizations. However, organizations should not overlook the importance of work-life balance and should continue to prioritize employee well-being to attract and retain top talent.
Conclusion:
The APAC webinar provided valuable insights into the unique challenges and opportunities faced by HR leaders in the region. It emphasized the need for HR functions to upskill themselves, understand market-specific challenges, and leverage digital transformation to drive strategic initiatives. Pay and benefits, along with flexibility and work-life balance, were identified as key factors in attracting and retaining talent in APAC. HR leaders are investing in solutions to drive business agility, efficiency and sustainability, and workforce experience improvements. Given the market size and increasing investment, solution providers are well-positioned to unlock growth in APAC in 2024.
Related insights