Fear of becoming obsolete and the need for more competitive compensation and benefits are among the top concerns of workers in the Asia-Pacific area, according to a recent study entitled "Workforce 2020" conducted by SAP, in collaboration with the Oxford Economics research group.
The study, which involved more than 5.400 managers and employees in 27 countries, identifies the entry into the labor market of the so-called "millennials", i.e. those born in the XNUMXs and XNUMXs, as the greatest challenge in the labor market of these years, together with globalization and job offers. The research also found that a lack of talent management and the adoption of new technologies to accommodate this new wave of workers are among the major shortcomings of workplace environments in the Asia-Pacific.
In a growing difficulty in finding and retaining skilled workers, employers in the region underestimate the impact of the leadership and so-called "soft skills" needed to lead a new and more technology-exposed workforce. Furthermore, employers would not sufficiently value the loyalty of workers and would underestimate the need for workers to have more opportunities for growth and a better balance between work and private life.
In the region, workers are demanding benefits and adequate wages, but the study also finds that more career opportunities would make employees happier staying in their jobs. Furthermore, for the “millennials', the fear of being fired would be less than that of becoming obsolete.
"The flow of young and ambitious workers is growing in the area" comments Adaire Fox-Martin, president of SAP Asia Pacific Japan "It is important that companies recognize their talent and value it".
Attachments: Business Inquirer
