aon best employers - korea 2015 country report sample
TRANSCRIPT
Prepared by AonPerformance, Reward & Talent
Best Employers – Korea 2015Country Report
November 2015• Please note that the slides here represent a few highlight taken from the Country Report• You can get access to the full report by submitting at the end of this sample
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The Country Report provides a deep-dive into our observations, supporting practices and outcome on the Best Employers construct in Hong Kong.
We hope you continue successfully on this journey.
Best Employers Program in Asia Pacific
Aon began the Best Employers research in Asia in 2001 to provide insights into how organisations can create real competitive advantage through people and explore the contours of what makes a workplace of choice.
15 Years of Best Employers Data Insights and Best Practices
Our 15 years of Best Employers studies in Asia, backed with engagement research of over 6,400 global organisations including 2,300 in the region, covering 800,000 employee’s opinions support the striking evidence: Having a high level of Employee Engagement, a Compelling Employer Brand, Effective Leadership and a High Performance Culture translates into a committed and productive workforce that delivers stronger business results.
Through our research, we know that high employee engagement not only delivers greater shareholder value, but it also reduces staff turnover and improves customer satisfaction.
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Best Employers - Asia Pacific 2016
The Best Employers 2016 program will be conducted in 12 markets:
Australia
China
Hong Kong
India
Indonesia
Japan
Korea
Malaysia
New Zealand
Singapore
Taiwan
Thailand
Global Certification is also available
The program may not be run in an exactly similar fashion across markets.
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What Constitutes a Best Employer ?
Four Measurable Factors Contribute to Whether an Organisation is a Best Employer
High Employee Engagement
Say: The employees consistently speak positively about the organisation to co-workers, potential employees and customers
Stay: The employees have an intense desire to be a member of the organisation
Strive: The employees exert extra effort and engage in work that contributes to business success
Compelling Employer Brand
Reputation: The organisation is well-known and has a good reputation in the market, especially for those target groups which are critical for the organisation’s business success
Internal Brand: Employees are proud to be part of the organisation, and can explain what makes working here different from other organisations
Credibility: Employees believe that the organisation delivers on its promises it makes to employees
Effective Leadership
Future Vision: Leaders show clear and compelling future vision to the members of the organisation
Valuing People: Employees experience that leaders are appropriately visible and accessible; treat them as organisation’s most valued asset
Business Excellence: Employees trust their senior leaders to be open and honest; and believe they make good business decisions to drive the organisation to success
High Performance Culture
Accountability & Trust: Managers set clear goals and expectations, and employees know how they can best contribute to realise their business strategy
Reward: Rewards and recognition for high performance are clearly understood and transparent to employees
Growth: The organisation prepares for future challenges by offering interesting careers for high potential employees and learning opportunities for all employees
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30% 40% 50% 60% 70%30%
40%
50%
60%
70%
Critical People Challenges – Korea 2015
Inadequate Leadership Pipeline is the Key People Challenge Faced by Organisations
In Contrast to Asia, Critical Skills Shortage is not a relatively significant challenge On average ~35% of organisations feel they are prepared to tackle these people risks
People risks likely to impact your business
Medium
High
Likely Near Certain
Rising Salaries
Inadequate capability of current leaders
Poor availability and selection of talent in external labor market
Degree of impact ofthe people risks
Inability to Retain Talent
Inadequate Leadership
Pipeline
Inability to Attract
Talent
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Best Employers Summary – Korea 2015
High Employee Engagement Compelling Employer Brand
74% 78%
52% 43%
Effective Leadership High Performance Culture
71% 72%
45% 46%
Market Average Best Employers
The Best Employers Outperform the Market by 27% Across All 4 Pillars
Best Employers filled 48% more openings internally compared to market level
Best Employers achieve 175% higher income than market average
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High Employee Engagement – Korea 2015
72%
72%
76%
51%
52%
58%
SAY: The employees consistently speak positively about the organisation to co-workers, potential employees and customers
STAY: The employees have an intense desire to be a member of the organisation
STRIVE: The employees exert extra effort and engage in work that contributes to business success
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Employee Engagement index
2007 2011 2015
72%75% 77% 79%
74%
48% 49%53% 55%
52%
Favourable engagement scores overthe last 10 years
Market Average Best Employers
Best Employersengagement score
at 74%is significantly higher than market average
at 52%
Overall Employee Engagement Scores For Organisations in Korea Have Moved Marginally Over the Last 10 Years – Even Incase of Best Employers
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Compelling Employer Brand – Korea 2015
More Than Half of the Employees Surveyed Said that They Were Likely to Recommend Their organisation to a Friend Seeking Employment
78%
79%
72%
55%
60%
52%
REPUTATION: The organisation is well-known and has a good reputation in the market
INTERNAL BRAND: Employees are proud to be part of the organisation, and can explain what makes working here different from other organisations
CREDIBILITY: Employees believe that the organisations delivers on its promises it makes to employees
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Employer Brand index
Best Employers
employer brand index
at 78%is significantly higher than market average
at 43%
Market Average Best Employers
Net Pro-
moterScore
Promoter Passive Detractor
60%72%
16% 12%
28%
52%
23% 24%
Net promoter score 2015The NPS gap between Best Employers and the market average has widened by 6% over the 2013 results
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50% 60%
21% 20%
50% 60%
25% 30%
58% 60%
Market Average Best Employers
Organisations in Korea Measure The Effectiveness of Their High Potential Programme On Multiple Parameters
Effective Leadership – Hi-Potential Program Effectiveness – Korea 2015
Percentage of high potentials who are removed from the high potential list
Retention rate of high potentials
Number of lateral movement of high potentials across function, business, or geography
Performance ratings of high potentials
Promotion of high potentials
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The Gap Between Rhetoric and Reality – Walking the Talk in Korea
6
83% of CEOs say people managers have the tools and
resources to manage.
But only 50% ofpeople managers feel they are
fully productive.
Leaders say “our employees are our greatest asset”.
But only 47% ofemployees believe their senior
leaders treat them as their organisation’s most valued
asset.
Career opportunities is the top driver of engagement
across all generations.
But only 35% ofemployees think they have
good career opportunities at their organisation.
42% of organisations said that they have a clearly
defined employer brand.
But only 21% have complete alignment between the CEO and HR definition of their employer brand.
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The Best Employers Program
Best Employers participants benefit from 12-month partnership with Aon Hewitt. Sharing of data, insights and best practices advance organizations in their journey to becoming a Best Employer.
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Contact Information
To order full Best Employers – Korea 2015 Country Report, please click here
To participate in Aon Best Employers - Asia Pacific 2016, please contact
Diane Lee
Project Manager
Best Employers Korea
Gitansh Malik
Regional Project Manager
Best Employers – Asia
Aon Hewitt Asia
@Aon HewittAsia
Aon Hewitt
Join us on a Journey to Becoming a Best Employer 2016