Demonstrating organizational agility, leadership transformation and a high level of employee engagement, DBS and Hilti have been named as 2021 Best Employers in Hong Kong, according to Kincentric’s premium assessment that identifies organisations who demonstrate outstanding people practices and workplace excellence.
Employee Engagement, Organisational Agility, Engaging Leadership and Talent Focus were the key attributes assessed. Kincentric identifies Best Employers that are in the Top Quartile and research shows that excelling across these four areas leads to better business results.
According to Kincentric’s insights, the Hong Kong’s Best Employers are 24%* stronger on Employee Engagement, 26%* better on Organisational Agility, 19%* committed on Engaging Leadership and 27%* focussed on Talent. This clearly demonstrates a high level of decisive and agile people centric business decisions that these organisations have had to take through the pandemic.
Stephen Hickey, Regional Leader for APAC at Kincentric said, “We are in the midst of a talent evolution that’s shaping the future of work. Kincentric’s Hong Kong Best Employers have demonstrated excellence in the workplace, by creating differentiated employee experiences and agile, inclusive cultures leading to stronger, more sustainable business results.”
According to Kincentric employee research data, only 5 in 10 employees feel their organization is attracting or retaining the people they need to achieve business goals; 11 percentage point declines in favourable perceptions of senior leaders demonstrating care and concern for employees; and only 55% of employees seeing strong career development opportunities for high performers.
Globally there is increased talent mobility, greater difficulty for organisations to attract and retain the talent they need, challenges in giving people the work / life balance they desire, and many leaders struggling to paint a clear vision for the future of their company that is inspiring, engaging and motivating. Given the present challenges around talent retention, employees who do not see good career opportunities and organization’s response to their well-being are four times more likely to leave.
The Kincentric Best Employers 2021 marks 21 years of the Best Employers program. The brand has evolved since starting as Hewitt Best Employers, becoming Aon Hewitt Best Employers to Aon Best Employers and since 2019 to Kincentric Best Employers.
* Indicates % higher than their peers
Kincentric, a Spencer Stuart company, helps organisations unlock the power of people and teams to ignite change and drive better business results. With decades of experience and specialist expertise in areas such as culture, employee engagement, leadership assessment and development, HR and talent advisory, and diversity, equity and inclusion, we use data-driven insights to architect solutions that add value, enhance agility and increase organizational effectiveness. For more information, visit kincentric.com.
Topic: Press release summary
DBS and Woh Hup (Private) Limited have emerged as Singapore’s Best Employers in 2021, according to Kincentric’s premium assessment that identifies organisations who demonstrate outstanding people practices and workplace excellence.
While DBS has been named Kincentric Best Employer for the sixth time in Singapore and across Asia Pacific, home-grown construction firm, Woh Hup (Private) Limited has been recognised for the first time. These two companies are particularly leading the way by creating engaging environments fostering organisational agility and building engaging leaders.
Companies were evaluated against four research-based elements that are key to accelerating success: Employee Engagement, Organisational Agility, Talent Focus and Engaging Leadership. Kincentric identifies Best Employers that are in the Top Quartile and research shows that excelling across these four areas leads to better business results. Across each of the four parameters, the difference between the Top Quartile and their peers was at least 10 percentage points or more.
Engaging Leadership, Agility & Talent Focus Trump
Engaging Leadership, Organisational Agility and Talent Focus feature as the key factors that have enabled Singapore’s Best Employers to do exceptionally well. According to Kincentric’s insights, these Top Quartile companies are 10%* stronger on Engaging Leadership scores, 12%* better on Organisational Agility and 11%* committed on Talent Focus. This clearly demonstrates decisive and agile people centric business decisions that organisations have had to take through the pandemic.
Andrew How, Market Leader, Kincentric Singapore, said, “The last two years have been like no other and this pandemic has significantly changed the nature of work. Kincentric Best Employers distinguish themselves based on how well they rise to these challenges and provide a first-class employee experience to their people along the way. The strength of their people practices is what positions Kincentric Best Employers to be able to meet the ever-changing nature of work and evolving employees’ aspirations.”
Special Recognition for Diversity, Equity & Inclusion (DE&I)
For the first time, Kincentric introduced a Special Recognition Award for Diversity, Equity & Inclusion best practices. DBS, Atkins Design Engineering Consultants Pte Ltd (a member of the SNC-Lavalin Group) and MSD International GmbH (Singapore Branch) have been recognised in this category for their development of diverse, equitable and inclusive work cultures, and have created a safe and inclusive space for their employees.
When evaluated, these organisations were found to have exemplified a robust and formal organisational approach towards DE&I, and were able to build an alignment between Employees, Managers and Leaders.
Special Recognition for Social Service Sector
To highlight the best people centric organisations in this sector, the Kincentric Best Employers 2021 assessment has provided a Special Recognition to:
AMP Singapore, Halogen Foundation (Singapore), Lutheran Community Care Services Ltd and TOUCH Community Services Ltd, for their contributions to the Social Service Sector this year. The assessment was based on a methodology to understand how well these firms engaged with their employees and demonstrated Best Employers’ attributes. To qualify, Employee Engagement scores had to be on par or higher than those belonging in the Top Quartile.
Trends from 2021 assessment
– The current pandemic has accelerated the megatrends of digitalisation and fundamentally
shifted how organisations work. The 2021 employee engagement data from Singapore validates that Top Quartile companies tend to fare better in Change Management (12%*) and their Senior Leadership have a much higher standing (17%*).
– In addressing more complex business issues arising from greater levels of ambiguity and uncertainty, Top Quartile companies put in place interventions to establish a better brand in the community (14%*), practical learning programs (13%*), create psychological safety for their employees (13%*), provide better workplace flexibility (12%*) and managers are effective at developing a positive team atmosphere (11%*).
– Kincentric has also found that Top Quartile companies do better in engaging the younger generations, notably the Geriatric Millennials (Age 35 to 44) (14%*) and Gen Z (12%*).
Kincentric’s global research has also shown that given the present challenges around talent retention, employees who do not see good career opportunities or agree with their organisation’s response to their well-being are four times more likely to leave.
Congratulating this year’s Kincentric Best Employers, Mr. Andrew How, said, “These are challenging times. Leading organisations have demonstrated agility to respond effectively to disruptions while being connected to the needs of their employees. Look around your organisation today and you’ll observe ways of working that are quite different to only a few years ago. This ability to stay agile to meet the demands of external customers and internal staff is a defining characteristic of Kincentric Best Employers.”
* Indicates % higher than their peers
Topic: Press release summary