Aon Hewitt names Aon Best Employers -- Thailand 2016

• Best Employers in Thailand lead the way with 24 points higher engagement score than market average
• Gen Y (those born from 1979 to 1990) engagement scores are 22 points higher for Best Employers, compared to market average
• Almost nine in 10 (89%) of employees at Best Employers would recommend their company to someone seeking work, compared to the 68% market average
• Advanced Info Services named Best of the Best Employers

Aon Hewitt, the global talent, retirement and health solutions business of Aon, has named seven organisations as Aon Best Employers - Thailand 2016. Despite a challenging business environment, where 54% of CEOs identify people issues (which includes rising salaries, an inadequate leadership pipeline, and poor availability and selection of talent in the external labour market) as a critical business challenge, Best Employers in Thailand have proven to be leaders in driving employee engagement to accelerate business results. Best Employers achieve 51% higher profit than market average.

The Aon Best Employers in Thailand for 2016 are:

Advanced Info Services
Best of the Best Employers

Advanced Contact Center Company
Best Employer - Thailand

American Express (Thai) Company
Best Employer - Thailand

McThai Company
Best Employer - Thailand

Mitr Phol Sugar Factory
Best Employer - Thailand

Phyathai 3 Hospital Company
Best Employer - Thailand

Swensen's (Thai)
Best Employer - Thailand

Toyota Motor Thailand Company
Best Employer - Thailand

In addition, Mitr Phol Bio Fuel Company received special recognition as the Best Employer for Generation Y. Marriott International, Thailand was also named Aon Best Employers through the Global programme.

Dr Adisak Chandprapalert, Managing Director, Aon Hewitt Thailand, said: "CEOs consistently rank people issues as a top challenge in their ability to create business value. Through the Aon Best Employers programme, HR and business leaders can create real impact by focusing on talent outcomes throughout the employee life cycle."

Panuwat Benrohman, Partner, APACMEA Talent, Rewards & Performance, Aon Hewitt, added: "A significant part of driving employee engagement is delivering an exceptional employee experience all around. With users spending an average of 2.5 hours on their mobile devices daily, employees expect a consumer-grade experience from their interactions with their employers. Digital transformation in HR is no longer a luxury; it's a necessity - and Best Employers in Thailand are well-positioned to do that."

Associate Professor of Organization Behaviour Dr Siriyupa Roongrerngsuke, Sasin Graduate Institute of Business Administration of Chulalongkorn University, said: "Over Sasin's 15-year partnership with Aon Hewitt, there has been a quiet revolution in the market - with an increasing number of Thai organisations participating and being recognised as Aon Best Employers. Once again, this year, all Aon Best Employers in Thailand have truly proven to be leaders in driving employee engagement."

posted from Bloggeroid

Aon Hewitt shares Malaysia perspective for Total Compensation Measurement study

Aon Hewitt, the global talent, retirement and health solutions business of Aon, has released the latest trends and insights from its Total Compensation Measurement (TCM) 2015 Study. Global TCM is Aon Hewitt's comprehensive compensation benchmarking study that covers 25,000 positions across 180 countries.

Salary increase by industry sector in Malaysia

While gross domestic product (GDP) is forecast to increase from 3.1% in 2015 to 3.6% in 2016 globally, the economic climate closer to home is a crucial element when making decisions related to employee rewards. Within Southeast Asia (SEA), Philippines and Vietnam experienced the highest growth in 2015 at 6% and 6.5% respectively and are projected to continue to enjoy the highest growth in 2016. Indonesia witnessed the highest consumer price index (CPI) at 6.8% in SEA year on year whereas Malaysia, the Philippines, Singapore, Thailand and Vietnam show a moderate CPI. Philippines has the highest unemployment rate at 6.3% in 2015¹.

The implementation of the goods and services tax (GST), drastic depreciation in the ringgit, and declining commodity prices were some of the factors affecting Malaysia's economy this year. Malaysia experienced a decline in GDP to 4.7% in 2015 and a projection of 4.5% in 2016, a slightly reduced CPI at 2.4% in 2015 and a projection of 3.8% in 2016, and a slightly increased unemployment rate at 3.0% in 2015 and 2016¹.

In this context, the Aon Hewitt salary survey shows stability with salary increases for 2015 at 5.6% and a projected increment of 5.8% in 2016². Prashant Chadha, Managing Director of Aon Hewitt in Malaysia said: "With a rocky 2015 and shrinking budgets, organisations must make rewards decisions not just with reliable data but also driven by the bigger picture and economic climate. Best Employers pair their rewards decisions with other aspects like performance, careers, culture, diversity, etc. to further strengthen their total rewards approach in line with employee value proposition."

Aon Hewitt Total Compensation Measurement indicates that overall salary increments in 2015 and projected salary increment in 2016 remain relatively consistent across all employee categories whereas variable payouts (performance bonus) increased slightly in 2015 to about two to three months of annual base salary and are projected to remain stable in 2016. The Aon Hewitt 2015-2016 Malaysia Salary Increase Survey shows higher salary increase projections across most industries in 2016³.

Malaysia recorded the second highest involuntary turnover rate at 6% and third highest voluntary turnover rate at 9.5% in SEA this year. The Aon Hewitt TCM 2015 Survey in Malaysia shows the correlation between voluntary attrition reasons and retention measures, the top three being: "better external opportunity", "further studies" and "work life balance" while key measures taken to attract and retain employees are "pay above market", "improved work life balance" and "timely and meaningful feedback from managers"3.

Nur Amani Yusnida, Aon Hewitt Performance, Reward and Talent Practice Lead in Malaysia said: "With salaries and increases remaining stable since 2011 (average increase of 5.7% over the past five years) employers are taking the 'wait and see' cautious approach to budgeting salaries. The consistent theme seems to be 'doing more with less', optimising costs wherever possible. Voluntary turnover is trending down this year at 9.5% from 12.2% in 2014 reflecting the volatility and instability of the market conditions in Malaysia."

In addition, Aon Hewitt's recently launched Hot Topic Survey provides insights on how organisations are reacting to the recent economic environment impacting both employers and employees in Malaysia. The study reveals that the highest impact of the current economic environment on organisations comes from the depreciation of the ringgit followed by the implementation of GST. The recent road toll hike also has a significantly negative impact on employees. However, employees view the minimum wage increment and increased salary cap for Social Security Organisation (SOCSO) eligibility that was proposed in the 2016 Budget as positive.

To cope with higher living costs, 22% of organisations indicated their plans of providing higher salary increases than initially budgeted for and 7% of organisations are providing a one-off salary adjustment. Nearly half (47%) of organisations have revised their benefits programmes in the last two years, particularly the medical limits and mileage claims. About eight in 10 (76%) of organisations reported an increase in medical claims and almost three quarters (72%) indicated an increase in medical leave following the recent haze issue⁴.

Surendran Ramanathan, Aon Hewitt Southeast Asia Retirement and Investment Practice Lead said: "The current economic environment has adversely impacted both employer and employees, companies are facing budget constraints whilst employees are expecting to cope with the increase cost of living. Therefore companies should ensure their rewards dollars are spent more prudently to get the biggest bang for the buck."

Prashant  emphasised: "Based on our Best Employers Research and through numerous CEO and HR directors' interviews we note that, while organisations optimise costs, employees must continue to strive, and high performers will not only benefit from pay for performance but also from other career-linked total rewards to ensure retention and alignment to business goals."

The Aon Hewitt Best Employers - Malaysia 2015 Country Report shows that 78% of Best Employers combine structured, formal recognition programmes with manager-driven recognition as opposed to market average of only 40%. The study also revealed that Best Employers compensate their high performers 21% higher than their average performers. This differentiation results in higher employee perception in terms of recognition and performance impact on pay5.
The Best Employers have also shown their strength across all four pillars of Best Employers, specifically in high employee engagement, compelling employer brand, effective leadership and a high performance culture. The Best Employers enjoy 38% higher income than market average, attain 50% better growth in profits than market average and have filled 38% more job openings internally compared to market average.

Gap between rhetoric and reality in Malaysia organisations

1 International Monetary Fund (IMF)
2 Aon Hewitt 2015-2016 Global Salary Increase Survey
3 Aon Hewitt Total Compensation Measurement
4 Aon Hewitt Hot Topic Survey, November 2015. SOCSO provides social security protection to employees and their dependents through social security schemes to improve the employees' social wellbeing.
5 Aon Hewitt Best Employers -- Malaysia 2015 Country Report

Aon Hewitt shares 2015 Best Employers for Singapore and region

Source: Best Employers website.

Aon Hewitt, the global talent, retirement and health solutions business of Aon, announced its list of the Best Employers - Singapore 2015 on February 27th. 

Aon Hewitt’s Best Employers study was first conducted in Asia in 2001 and is the most comprehensive study* of its kind in Asia Pacific today. Being recognised as an Aon Hewitt Best Employer means that: 

1. The organisation inspires strong commitment and superior performance from its people;

2. It drives business results through effective people practices; and, 

3. It manages its business in ways that build long-term success and sustainability.

“Best Employers clearly achieve better business results compared to market. We found that Best Employers in Singapore achieve significant higher growth in their income profits when compared to market average, said Jeremy Andrulis, Chief Executive Officer, Southeast Asia, for Aon Hewitt Consulting and Managing Director of its Singapore operations. “This makes becoming a Best Employer a business agenda and not just an HR agenda.”

The following organisations were recognised as Best Employers in Singapore:

Aon Hewitt Best Employer – Singapore 2015 Awards	Company Name
Best of the Best	McDonald’s Restaurants
Best Employer Singapore 2015	American Express International
Best Employer Singapore 2015	Bain & Company SE Asia
Best Employer Singapore 2015	Hongkong Land
Best Employer Singapore 2015	Hilti Far East
Best Employer Singapore 2015	Microsoft Singapore
Best Employer Singapore 2015	Tan Tock Seng Hospital
Best Employer – Commitment to Engagement Singapore 2015	Roche Diagnostics Asia Pacific
Best Employer – Generation Y Singapore 2015	Holiday Inn Singapore Atrium
Best Employer – Hotels Singapore 2015	The Ritz-Carlton, Millenia Singapore
Best Employer - Small and Medium Enterprise Singapore 2015	Goodrich Global

Alexis Saussinan, Head of Performance &Talent Management with Aon Hewitt in Singapore highlighted the introduction of a new category for Small and Medium Enterprises this year. 

"One of the key objectives of the Best Employers 2015 programme is to explore and cater to new workforce trends. Selected SMEs in Singapore are able to leverage their talent to deliver better business results. Furthermore, SMEs have been trying to benchmark themselves with Best Employers in their industry category. With this in view, Aon Hewitt decided to include a new category to recognise Best Employers in SME,” he explained.

The following organisations received three or more Best Employers awards in the region this year and are recognised as Regional Best Employers in Asia Pacific 2015: 

Aon Hewitt Regional Best Employer – Asia Pacific 2015 Awards	Company Name
Regional Best Employer Asia Pacific 2015	McDonald’s Asia Pacific
Regional Best Employer Asia Pacific 2015	Roche Diagnostics Asia Pacific

The major trends that emerged this year included:

Business and People Challenges

§ CEOs see People Issues as their top business challenge (58%) followed closely by Organizational Efficiency (52%). 

§ Best Employers achieve 29% higher income profits than market average. 

§ Best Employers have 25% lower attrition. 

§ Best Employers filled 42% more openings internally compared to the market. 

Employee Engagement

§ Best Employers' engagement scores (80%) are significantly higher than market average (59%). 

§ The Gen Y** engagement score is the lowest of all age categories at 57% (although for Best Employers, their engagement scores are distinctly higher at 76%). 

Compelling Employer Brand

§ 58% of organisations have a clearly defined employer brand. However, only 15% of CEOs and HR are aligned on its nature. 

§ Learning and Careers is the most prevalent employee value proposition theme for Singapore organisations, with 48% of organisations listing it as one of their top three drivers. 

§ 78% of employees at Best Employers believe their organization delivers on promises, compared to only 56% of employees at participating organisations. 

Saussinan highlighted: “There is a significant gap between 78% employees at Best Employers believing their organisation delivers on promises compared to only 56% of employees at participating organisations. Best Employers clearly walk the talk and fulfill their commitment. This goes to reinforce the value of their employer brand when it comes to attracting and engaging the best performing talent.” 

Effective Leadership

§ 67% Best Employers train their managers on career conversations, compared to 29% participant average. 

§ 79% of employees at Best Employers believe that senior leadership treat them as the organisation’s most valued asset, compared to only 58% of employees at participating organisations. 

§ 100% Best Employers integrate their high potential programme to talent management processes compared to 60% participant organisations. 

High Performance Culture

§ 78% Best Employers include the engagement scores of teams in their people manager performance ratings, compared to 52% participants. 

§ Only 53% of employees feel they receive appropriate recognition (beyond pay and benefits) for their contribution, compared to 72% at Best Employers. 

§ Only 29% of organisations provide coaching to their managers on how to provide career advice to their teams, compared to 67% at Best Employers. 

While the Best Employers study recognises organsations that display standards of excellence, Aon Hewitt encourages all organisations to participate.

"For organisations that don’t make it to the Best Employers list, but are aspiring to become Best Employers, we want to reinforce that this is a journey. Becoming a Best Employer doesn’t happen overnight, said Gitansh Malik, Aon Hewitt Best Employers Singapore Project Manager. “It is possible for everyone to become a Best Employer, if you’ve articulated the destination you want to head to and have planned your journey wisely.”

Participation in the programme brings a wide range of benefits for organisations, such as finding out how employees perceive and rate their employer, the reasons why they are attracted to certain employer brands, and the type of organisational culture they value sufficiently to “stay and strive”. The study also provides a benchmark against company competitors in the market. Participating organisations gain access to Aon Hewitt’s latest market research insights, along with the best and most innovative people practices of Best Employers.

Click here to find out more about the Aon Hewitt Best Employers Asia 2015 Study. 

*The programme provides insights into companies that are creating real competitive advantage through their people, to explore what makes a workplace of choice and to identify the Best Employers in the region, covering 12 markets: mainland China, Singapore, India, Indonesia, Korea, Malaysia, Singapore, Taiwan, Thailand, Australia and New Zealand. The study’s research methodology involves a rigorous process, conducted over a nine-month period that culminates in a solid, credible list of Best Employers. 

**Gen Y employees are defined as those born between 1979-1990. 

DBS named one of the world's top 25 companies for leaders by Aon Hewitt

DBS Bank has been recognised as one of the world’s top 25 companies for leaders by Aon Hewitt. Ranked 18th in The 2014 Aon Hewitt Global Top Companies for Leaders, the bank is the top ranking Singapore-based organisation that was named to the list. DBS is also named a winner of The 2014 Aon Hewitt Top Companies for Leaders in South East Asia.

Said Lee Yan Hong, Managing Director of DBS Group Human Resource: “As a bank born and bred in Asia, DBS believes in building a strong pipeline of leaders who will help shape the future of banking. We have a comprehensive programme in place that helps identify and groom the next few generations of leaders across the bank. We are pleased to be recognised as one of the top companies for leaders globally. To be the highest-ranked Singapore-based company on the list is a further testament of our talent development strategy.”

Winners of The 2014 Aon Hewitt Global Top Companies for Leaders were selected and ranked based on a number of criteria, including strength of leadership practices and culture, examples of leader development on a global scale, alignment of business and leadership strategy, company reputation, business and financial performance.

DBS’ talent development strategy is centred around grooming talents to meet current and future business needs, including succession planning for key leadership positions. The bank has a programme in place to identify and engage talents at different levels across the bank. Its talent pool comprises young talents to senior professionals who are offered a differentiated development experience and training roadmaps based on needs and career aspirations at each stage.

Through the bank’s internal mobility programme, talents are mobilised to work on key projects or rotated into roles in DBS’ six key markets, enabling them to gain greater exposure, knowledge and experience. Every year, one third of talents leverage these mobility opportunities to gain a broader perspective and in-depth knowledge of the bank.

To ensure a holistic development experience, these future leaders also participate in talent conferences, external programmes, mentoring or coaching. Through these development opportunities, they are able to build a strong network with their peers.

In order to continually innovate and position itself as the Asian bank of choice, it is also important for the bank to achieve corporate diversity among its talent pool. In addition to hiring talents from non-banking background, the bank also hires more than 200 new graduates from a range of backgrounds and disciplines through its six talent programmes for recent graduates.

With technology rapidly changing the way people interact with banks, the diversity in its leadership talent pool helps DBS identify and act on opportunities to shape the future of banking. To help leaders make a mindset shift, the bank organises innovative learning experiences such as hackathons that encourage them to adopt an outside-in perspective. These mindset changes led to the development of banking services such as DBS PayLah!, an mobile wallet application for peer-to-peer payments in Singapore.

Lee added: “As the digital banking evolution continues to unfold, it is important to ensure that our leaders are well-equipped with the knowledge and skill sets to identify and act on opportunities and threats. By bringing talents with different expertise together, we are able to create even greater value to our customers.”

“In today’s complex and unpredictable business landscape, Top Companies for Leaders are passionate about cultivating resilient and engaging leaders who take the time to know and develop their talent and understand what experiences they need to rise above the rest,” said Pete Sanborn, Aon Hewitt Global Talent practice leader. 

Conducted six times since 2001, The Aon Hewitt Global Top Companies for Leaders study is a comprehensive analysis of talent management and leadership practices of organisations around the world. This year, nearly 180 companies from North America, Europe, Asia-Pacific and Latin America participated in the study.