Salary top reason why employees in Asia quitApril 26th, 2008 - 4:15 pm ICT by admin
Singapore, April 26 (DPA) The top reason why employees in Asia quit is unhappiness with their pay, a study by a human resources firm said Saturday. It found 70 percent of the best employers see a large connection between improved performance and higher salaries.
While Asian employers have “increased investment” in compensation, they are not yet getting the “strategic and financial results”, The Business Times quoted Hewitt Associates principal Nishchae Suri as saying.
In China, 71 percent of employees are unhappy with their pay, 51 percent are unsatisfied in Hong Kong, 44 percent in India, 73 percent in Japan and 42 percent in Singapore, the published survey said.
Dissatisfaction with compensation averages 54 percent for Asia as a whole amid the battle for talent.
Pay must not only be fair, but seen to be fair in terms of the job and compared to the pay of other employees, Suri said, noting employers in Asia are generally doing a bad job at this.
Poor communications on the part of employers is the main problem, particularly with the new breed of talent seeking to switch jobs more often and becoming increasingly competitive.