You can be on Entrepreneur’s cover!

APAC Tech Companies Are Upping Their Hiring Game in 2018 Only two countries, South Korea and Taiwan, will see a recruitment slowdown in second quarter

By Nidhi Singh

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur Asia Pacific, an international franchise of Entrepreneur Media.

Shutterstock

A growing number of tech startups like Mercari, Go-JEK, Grab and Coupang are breathing new life in the Asia-Pacific region. This is why, in an increasingly competitive market, companies are resorting to new recruitment strategies to attract top talent faster.

According to new data from consulting firm Radford, a division of Aon plc, technology companies across the Asia-Pacific region are reporting more aggressive hiring plans for the rest of 2018.

The Results

The data found that the percentage of technology companies reporting "aggressive" hiring plans—defined as actively planning and recruiting for organizational growth—increased in Q2 2018 from the prior quarter in six out of eight key markets in Asia Pacific.

The principal markets included Australia, China, Hong Kong, India, Japan, Singapore, South Korea and Taiwan. The research shows that the only two countries which showed a decrease in hiring plans for the second quarter are South Korea and Taiwan.

Reward Your Employees

Rewarding your staff can improve employee engagement and motivation at work. Keeping this in mind, many companies have introduced rewards and incentive schemes to retain top talent and keep employees happy.

Alexander Krasavin, partner and Radford leader for Asia Pacific, Middle East, and Africa, says in the research, "The technology market across Asia-Pacific is strong as we head into the second half of the year. To support rapid hiring plans, companies must leverage both pay and non-monetary rewards. These can include perks that promote greater work/life balance, peer-to-peer recognition awards and internal mobility programs."

Radford's data also looked at voluntary employee turnover in the technology sector and found that it remains high in most markets. The research stated that it views voluntary turnover above 10 per cent as a concern that companies should take note of.

Analyse Voluntary Turnover

Voluntary employee turnover was the highest in Australia at 12.8 per cent, followed by India (12.7 per cent), China (12.4 per cent) and Singapore (12 per cent).

Technology companies need to work hard to retain their top talent to fuel anticipated growth. To tap the best talent, the research suggests that companies must first think about the types of rewards that are most important to their employees, particularly those that are seen as differentiating and reinforcing company culture. Then, companies should target those rewards at a competitive market point.

This is important for certain in-demand job functions in the technology sector. These are often jobs that involve the most cutting-edge technology, such as machine learning and artificial intelligence, the research adds.

Nidhi Singh

Former Correspondent, Entrepreneur Asia-Pacific

A self confessed Bollywood Lover, Travel junkie and Food Evangelist.I like travelling and I believe it is very important to take ones mind off the daily monotony .

Marketing

Peer-to-Peer Is the Next Wave of Influencer Marketing

Millennials and their Gen Z brethren are interested in authenticity, not salesmanship.

Personal Finance

Take Stock of Your Investment Options With This $23.99 Masterclass

Find out how to read candlestick charts and trade smarter.

Business News

Starbucks Wants to Make Its Stores Quieter — Here's How the Coffee Company Is Making It Happen

Starbucks plans to introduce about 650 new stores and renovate about 1,000 with sound-absorbing ceiling panels by October.

Thought Leaders

6 Truths About Failure Every Entrepreneur Should Embrace

Understanding these tenets can help you embrace fear as a powerful tool that will make you a better business owner.

Side Hustle

This Insurance Agent Started a Side Hustle Inspired By Nostalgia for His Home State — Now It Earns Nearly $40,000 a Month

After moving to New York City, Danny Trejo started a business to stay in touch with his roots — literally.

Marketing

How to Turn Prospects into Customers with Your Landing Page

The 8 essential elements your landing page must have in order to up your conversion rate