Asia and Thailand Reward Trends 2011-2012

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Transcript of Asia and Thailand Reward Trends 2011-2012

  • Asia and Thailand Reward Trends 2011-2012

    16th March 2012 Thanwa Chulajata

  • 2 2012 Hay Group. All Rights Reserved

    What we will cover

    Regional Market Snapshot

    Thailand Reward Trends

    Economic Indicators

    Pay Market Findings

    Participant Profile

    Remuneration Management

    Market Pay Movement

    Working Conditions and HR Issues

  • About Hay Group: we look at things differently

  • 4 2012 Hay Group. All Rights Reserved

    How we organize our business

    Building effective

    organizations

    Leadership and

    talent Reward services

    Leadership

    transformation

    Capability

    assessment

    Talent

    management H

    ay G

    rou

    p o

    nli

    ne

    dia

    gn

    os

    tics

    Executive

    rewards

    Job

    evaluation

    Reward Information

    Services

    Reward

    strategies

    Hay Group Insight: employee and customer surveys

    Performance

    management

    BEO solutions

    Helping organizations work Our purpose

    Our practice

    clusters

    Our service

    lines

  • 5 2012 Hay Group. All Rights Reserved

    Helping organizations with their leadership and talent issues

    No matter how good they may be, your top people and emerging talent

    need to be in step with your strategy and operating model to deliver the

    best results.

    We can help you develop and retain leaders, leadership teams and other strategic talent

    that is crucial to sustained success.

    You can leverage our pioneering research into human behavior to align your leaders

    with your strategy.

    Our services help you identify and nurture future leaders and make sure your people

    are focused on your business objectives.

    Drawing on our renowned databases of leadership data, you can benchmark your

    people against outstanding performers in order to make the best staffing decisions.

  • 6 2012 Hay Group. All Rights Reserved

    Helping organizations through our reward services

    From setting remuneration levels to identifying the right benefits and

    executive rewards, providing the right reward program is essential to

    attracting and retaining talented staff at all levels.

    Hay Group research has shown that, on average, it costs the equivalent of six months

    salary to replace a person who leaves an organization.

    So its important to invest time and effort to get your reward programs right.

    With Hay Group, you gain experience, expertise, market knowledge and insight, as well

    as the worlds most comprehensive remuneration, benefits and reward management

    practices databases.

    Our global network of total rewards consultants provides a clear understanding of

    business practices, industry trends and most of all, a clear understanding of people.

  • 7 2012 Hay Group. All Rights Reserved

    Helping clients to build effective organizations

    If you are driving change or simply trying to realize more value from your

    plans, being able to translate your strategy into reality is key to building an

    effective organization.

    Hay Group works with leaders to solve their business issues by:

    Creating a joined-up effective organization. We ensure that core operating principles,

    organization structure, culture and accountabilities are truly aligned with, and deliver,

    the business strategy.

    Helping clients develop clarity of direction and purpose. We help provide clarity and gain

    commitment to goals and strategies, developing both the team and individual's

    capability to sustain an effective organization.

    Focusing on generating value. We focus on implementing improvements that generate

    real benefits to our clients' businesses as speedily as possible.

  • 8 2012 Hay Group. All Rights Reserved

    Helping organizations with their employee and customer surveys

    An effective employee survey is one of the key means through which

    your organization can define and measure whether it is creating the

    necessary energy and purpose to ensure that great results occur.

    Its no surprise then that most organizations use employee and customer surveys. But

    asking the question isnt enough.

    The true benefits come when employee feedback is translated into meaningful action.

    Its here that Hay Groups employee survey process stands out.

    We can help you ask the right questions, understand what the results mean and

    prioritize actions (using our comprehensive database of normative benchmarks) and in

    doing so help your organization and your people achieve their potential.

  • 9 2012 Hay Group. All Rights Reserved

    Hay Group offers the Ultimate Range of HR tools

    Attract Talent

    Screening

    + Selection Tool

    Managing Talent For

    Growth

    Assessment +

    Development

    Rewards Services

    Data

    + Consulting

    Organization Effectiveness

    Engagement +

    Enablement

    High Performance Organization

    HAY Group is here to support every phase of your Employee Life cycle needs

  • 10 2012 Hay Group. All Rights Reserved

    Screening &

    Selection Tools

    Personality,/ Role

    Suitability Testing

    Verbal, Numerical,

    Logical Thinking

    ability tests

    Team Profiling

    Assessment

    Development

    Growth Factors Inventory (hi-potential identification)

    Emotional & Social Competency Inventory

    (Leadership Development)

    Talent Q (development report)

    Pathfinder (e-learning support tool)

    Ultimate Range of HR Tools Tools and Services to support every phase of your Talent Life-cycle

    Managing Talent for Growth Attract Talent

    High

    Performance

    Organization

    +

    Reward Talent

    PayNet Compensation Database

    Salary Benchmarking

    Grade + Salary Structure Design

    Engaging Talent via

    Organization Effectiveness

    Survey

  • 11 2012 Hay Group. All Rights Reserved

    The facts and figures

    84 Offices in 48 countries

    2600 Employees worldwide

    8000 International clients

    $450m Turnover

  • Regional Market Snapshot

    01

  • 13 2012 Hay Group. All Rights Reserved

    Regional Economic Outlook 2012

    China India Indonesia Malaysia Singapore Thailand Vietnam

    GDP 8.2% 7.8% 6.3% 4.4% 4.0% 6.0% 6.0%

    Inflation 3.8% 8.5% 4.7% 2.6% 2.9% 3.9% 11.7%

    Unemployment Rate 6.4% 9.8% 6.6% 3.3% 2.1% 1.6% 4.1%

    0%

    2%

    4%

    6%

    8%

    10%

    12%

    14%

  • 14 2012 Hay Group. All Rights Reserved

    Regional Salary Movement Actual and Forecast 2012-2013

    8.70%

    11.18%

    10.40%

    6.20%

    4.50%

    6.14%

    13.70%

    9.50%

    12.13%

    10.40%

    6.10%

    4.50%

    6.11%

    13.00%

    China India Indonesia Malaysia Singapore Thailand Vietnam

    2012 2013

  • 15 2012 Hay Group. All Rights Reserved

    Regional Variable Bonus (no. of month) Actual and Forecast 2011-2012

    3.30

    4.41

    3.10

    2.40 2.40

    2.70

    2.00

    3.90

    4.27

    2.90

    2.40

    2.10

    2.70

    2.00

    China India Indonesia Malaysia Singapore Thailand Vietnam

    2011 2012

  • 16 2012 Hay Group. All Rights Reserved

    Regional Employee Turnover 2011

  • 17 2012 Hay Group. All Rights Reserved

    Country Insight - India

    Workforce planning/sourcing : India is a growing market with the globalization

    economy is open for the talent war with the options available to professionals. Talent

    acquisition is and quality of manpower is the key issues now.

    Employee motivation : Keeping the workforce motivated is one of the key challenges

    of HR. Motivation no longer comes from not only a attractive pay package but also

    talent segmentation with performance appraisal and rewards is essential to a good

    team of workers. Employees also expect job satisfaction, learning and development

    facilities.

    Talent retention and employee engagement : Work-life balance and organization

    climate are considered part of the employee experience. Employee Satisfaction

    Surveys cannot just remain an exercise and results cannot simply be ignored yet

    implementation to develop have to be presented.

  • 18 2012 Hay Group. All Rights Reserved

    Country Insight - China

    Globalization : Companies are exploring new sources of revenue such as expansion

    into new markets-either from mature economics into fast-growing markets like China,

    India. The expatriate pay and regional roles are the reward implications need to be

    focused.

    Win the leadership talent war : The new type of leader in is short supply and

    globalization means that the best people will go the highest payer, whatever in the

    world happen to be. These lead to engaging leaders through non-cash elements and

    ensure development opportunities and career growth especially in the senior

    management and executive level. Key three issues are organization climate/leadership

    style, work life balance and reward.

    Do more with less : Minimum wage increase every year and with the limited budget,

    hence, the c