People at work 2022: A vision for the workforce in Asia-Pacific
In a recent episode of HRM TV, Nela Richardson, ADP Chief Economist, shared key labor force trends in APAC countries.
Asia-Pacific countries are among the fastest growing and largest economies in the world and are fueled by a highly skilled and dynamic workforce, observed Nela Richardson, Chief Economist, ADP.
Speaking on an episode of HRM TV, she explained: “This is one of the reasons the ADP Research Institute wanted to uncover the workforce trends that were fueling sentiment in this region. We surveyed four countries – Australia, China, India and Singapore – to find out the latest trends, and here’s what we found.
Labor Force Trends in Asia-Pacific
The results of the survey to which Richardson referred were compiled to create the People at Work 2022: A holistic view of the workforce report, which measures worker sentiment and explains how to help companies become more forward-thinking, competitive and resilient.
When it comes to the Asia-Pacific region, and in particular the four countries of Australia, China, India and Singapore, one of the key labor force trends is how workers remain optimistic about the future.
95% of workers in East Asia say they are optimistic for the next five years when it comes to their career and professional development. Richardson, however, was quick to point out how this differs from country to country. “Workers in India noted a high and high degree of job satisfaction with their current employer, while in Singapore, only 75% of workers report positive job satisfaction, which is more moderate than in other countries in the world. the region.”
The pandemic forces to rethink career and personal development, workers are also on the move. “People and workers want a new skill, a new job, or even a transition to a new industry. Overall, 70% of East Asian workers have considered changing jobs in the past 12 months,” Richardson revealed.
As the workplace continues to change, another key observation that has been made from the East Asian region is the time people spend working. For Australia, China and Singapore, workers added eight hours of unpaid work per week, which translated into working during lunch breaks or at weekends – this number increases to 10 hours in India .
LILY: Ensuring business continuity and success in a changing world of work
Warning that this excessive work comes at a price, Richardson said: ‘This could be one of the reasons why a large majority of workers might leave their jobs if their employers force them to return to work on site. Flexibility is what workers in APAC want and it is how employers can hire and retain their workforce. »
Click here to watch the full video and for more key insights on staying competitive and motivating your employees, download the ADP People at Work 2022: A Global Workforce View report.