Top 3 concerns of business leaders running a business in Asia:
- Staying competitive in a volatile market (esp. stock markets and currencies)
- Talent acquisition and development (attract, retain and develop)
- Legal obligations, policy changes and standards to comply with (international, transnational, local and company internal)
There is always another concern that is missed out: Workforce Compliance
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Case Study (German Group)
Already being aware of HR Compliance, these global players wanted to know whether the HR Operations in Asia are 100% compliant.
- Strong leadership and management’s attention related to HR Operations reduces the number of findings and remedial actions significantly.
- There is no correlation between being a high-risk country and the number of findings.
The following areas took attention and all remedial actions were fully implemented:
• Data protection
• Introduction or update of HR policies or guidelines
• Access Rights Managements to HR IT systems
• Access and Maintenance of Employee Master Data
• Business Continuity Plans
• Handling of global or mobile employees
• Steering of external vendors working in or for HR
• Management of Agency Workers