IRC Global Executive Search Partners, a leading global alliance of executive search firms, hosted HR Leadership Round Table discussion in Singapore exploring the issue of Executive Retention in the Asia Pacific Region.
As the result of the discussion with senior Asia Pacific HR executives and IRC members from 14 countries a number of key themes emerged:
• While there are differences between industries, retention is generally front of mind for CEOs. The visibility at other levels within organisations is not as clear however. Further, many organisations are well advanced in their retention strategies which are linked to broader business strategies. Smaller organisations, while perhaps not having the same resources are making progress.
• Organisation are increasingly being innovative and flexible in their approach to retention and taking into account individual needs and preferences. For instance, technology allows people to work from their home base while taking on regional or global roles. Managerial talent development programs may also be crafted according to the personal preference of the individual, with the company creating the infrastructure to support it.
• Due to the fast pace of change and unpredictability brought about by technological disruptions, competencies of “learning agility” and “adversity quotient” have become highly valued. Executive search professionals are acting as advisors, identifying how leadership requirements are changing, drawing upon their exposure to different companies and industries.
Grace Abella-Zata, the CEO of the IRC Institute comments: “The Singapore round table has yielded useful perspectives and practical solutions to retention. It has also shone a light on other important issues in leadership development. ”