Starting, expanding and growing business in Asia is challenging. The most valuable and sensible value in your company are the employees. Especially in Asia fluctuation rates are high. While rates should always be put in perspective to the level of the workforce it can be said that fluctuation is caused due to dynamic growth of countries but that there is also a cultural aspect.
What can a business do to reduce the fluctuation of key employees?
Ø Be aware that there is no generic solution. It is a company specific approach.
Ø A company should have an active HR department that works and is being respected as a Business Partner.
Ø Authentic presence and regular engagement of the Managing Director. A lot of employees are people focused. With regular information about the company´s goals, developments and so on employees tend to feel more connected to the company.
Ø Strong company values and the regular communication will help to connect why employees work in your
Ø Regular events (sometimes including the families) and local celebrations such as Chinese New Year will help to connect with individuals and the individuals among each other.