Salary is the top recruitment driver in fast-growing markets in Asia. According to the Towers Watson Global Talent Management and Rewards Survey, the factors that motivate employees to take a job or switch organisations are very different.
In fast growing markets, base pay is ranked as the top driver by employers, whereas for developed markets, base pay is ranked in the eight position among a series of attraction factors. For developed markets, the top driver is “challenging work”.
For fast-growing markets, the top drivers are base pay, career advancement, and job security. For developed markets, the top three drivers of attraction are: “challenging work”, the potential for career advancement, and job security.
“This variance throws up a worrying trend – employers in developed markets do not understand the needs and preferences of their employees compared to fast-growing markets,” said Dhritiman Chakrabarti, Asia-Pacific Leader of Rewards at Towers Watson.
Both developed and fast-growing markets share the same top three drivers of retention: base pay, career advancement, and positive relationships with supervisors.
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