Are you planning to build an APAC (Asia-Pacific) team?
The APAC region is growing rapidly and is a massive talent source. Therefore, expanding your existing workforce and building an APAC team is surely a good idea.
However, recruiters and entrepreneurs should clearly know what to expect from the candidates and how to deal with cultural differences and market changes.
We understand the struggles recruiters face while sourcing and onboarding new candidates and building a team in the APAC region. That’s exactly why we are summarizing a few tips and trends to build an APAC team in this article.
The APAC region has become a goldmine for businesses looking for international expansion. The APAC region is filled with top-notch innovation, modern infrastructure, and a growing market. It welcomes foreign investors with a business-friendly environment.
The international monetary fund (IMF) has revealed that the APAC region is responsible for generating 37% of global GDP. Furthermore, the Asian development bank has predicted that by 2030 this region will generate 60% of global business growth.
Here is why businesses should consider APAC to expand their teams:
The APAC region is filled with highly skilled potential candidates. For instance, Singapore has one of the most superior education systems worldwide. So, evidently, this country is filled with a highly skilled talent pool.
Additionally, Singaporeans are known for their disciplined and hardworking nature with remarkable technical skills. Therefore, multinational enterprises (MNEs) can easily recruit top talents from this country. An added advantage is a simple immigration system and plenty of English-speaking workforce.
Most Asian countries possess advanced infrastructure. This can be helpful for foreign investors to set up overseas operations. In addition, a large number of Asian countries have acquired lumpsum investments to improve social and economic frameworks. Modern infrastructure is one of the major reasons behind increased opportunities in these countries.
International investors often reveal how the Asian business environment is extremely favorable for them.
For example, setting up an international business in Singapore is highly convenient. This country offers low tax legislation and continues to be one of the top choices for foreign investors. Additionally, the fastest business registration process attracts venture capitalists.
Another remarkable country in the APAC region was offering simple business setup procedures in Hong Kong. This country has the benefit of having close proximity to the massive Chinese market and is in favorable trade terms with China. Furthermore, tax benefits offered in Hong Kong are convenient.
APAC is one of the biggest markets in the world when it comes to population. Over the years, international businesses have identified that the vast population of the APAC region can be converted into potential customers. In addition, thanks to the evolving technological resources, APAC is a hub of skilled workforce like engineers, developers, and entrepreneurs.
The APAC region has experienced remarkable economic growth in the last few years. With countries like China, Singapore, South Korea, India, Japan, etc., economic growth is expected to be limitless in the coming years.
A recent report has revealed that employee turnover will be at its peak in 2022 and beyond. However, these trends are applicable to the global talent acquisition scenario. What about the situation in APAC?
Here is a few APAC talent acquisition trend that you must know to build an APAC team in 2023:
Sourcing the right candidates for the right positions is very important. It means that recruiters should invest a lot of time in identifying business objectives, assessing talent gaps, and planning a strategic sourcing process. Many businesses in the APAC region is experiencing talent shortage in some of the emerging countries and organizations.
Digital working is one of the top priorities, and most APAC-based organizations are looking for tech-savvy talents. With evolving technologies like virtual workspaces, geographical boundaries are no longer a barrier for talent acquisition managers. They can easily access skilled talent pools in Singapore, India, and Hong Kong to ensure that candidates have filled the right positions.
Technology plays a key role in modern business operations. Therefore, it is a must that an organization’s talent acquisition strategy revolves around technology. However, till today, this remains a critical gap. A latest study shows that only 22% of organizations use technology-driven assessments.
A trend that can dominate the APAC talent acquisition in the coming years is technology-enabled sourcing. More employers already invested in people management technologies will increase investments in augmented and virtual sourcing tools to reach skilled talents.
AI-based recruitment and talent acquisition is going to be the next hot trend in APAC, and overseas investors are expected to play a major role in making this reality.
High salary hikes, joining bonuses, incentives are some of the common trends when it comes to the global talent acquisition scenario. However, a question that pertains here is - how sustainable are these benefits in the long run?
Hiring talents at high compensation can only sometimes reduce employee turnover. In fact, it is the temporary solution to a permanent challenge. However, as we approach 2023, more APAC teams are expected to start thinking about pay equity within teams and plan the compensation packages accordingly.
China, one of the strongest global economies, has come across a great talent acquisition strategy during the pandemic. In this country, compensations and incentives are used to retain employees rather than recruiting them.
Are you planning to build an APAC team? Here are some of the effective tips that worked for us:
Diversity and inclusion are focus areas for many companies at the moment. Unlike any other part of the world, the APAC based organizations should also work on building a diverse workforce where people from any background feel welcomed. When building an APAC team, make sure to promote a culture where candidates from different religious backgrounds, genders, and sexual orientations realize that your company is a safe space for them.
Recruitment managers may face certain challenges when it comes to building gender-neutral workforce. While majorities of organizations are keen to add more women to their teams, some communities still restrict women from achieving ambitious careers. They still consider women as the primary caretaker for their families and expect them to have a rather relaxed career. Such trends can sometimes challenge the APAC’s talent pools' diversity. However innovative practices and a flexible work culture might come as a rescue in such situation.
Many APAC-based countries have not yet legalized homosexuality and the impact of that in their job markets. Therefore, organizations operating in the APAC should also maintain a progressive outlook and offer equal opportunities to candidates belonging to the LGBTQ community.
Campus hiring programs are very popular in the APAC region. Most candidates start their job research right from their university campuses. Hence, starting the recruitment process from the top institutes of the APAC can be a good idea.
A great way to approach this is to involve those employees who have recently passed out from these grad schools. They can promote your organization culture through social media platforms and attend various recruitment events to influence the jobseekers from the same institutes. This will help the potential candidates understand how their career can shape up in the coming days and it can push them to apply for a job role.
Asia is a diverse continent and to connect with some of the best candidates, recruiters should adopt localization. Recruiters should not stick to any particular country for hiring all the team members. In fact, they should look for potential, skilled candidates from different countries like Singapore, India, Hong Kong, Japan, South Korea, Thailand and other Asian countries to develop a diverse workforce.
Once you successfully develop a diverse team, the next step should be to ensure strong communication among all members. The remote work culture has become hugely popular, and most companies have already figured out how to build a world-class virtual workspace to simplify internal communication. However, what they often miss out on is to establish the emotional connection. Therefore, recruiters should focus on developing an emotional connection between distributed teams, irrespective of their location and ethnicity.
A hiring manager is someone who is meeting new people everyday. Hence, it is a must that they stay flexible and keep an open mind to new experiences. APAC is a vast region with limitless business and hiring opportunities. Maintaining an open-minded outlook will help recruiters to identify and act on these opportunities.
Did you know that APAC accounts for 64% of social media users worldwide? The APAC population is familiar with the popular social media platforms like LinkedIn, Twitter, Facebook, Instagram and YouTube. Hence, being an APAC recruiter, if you are not tapping on the opportunity of social media recruiting, you are missing out on a lot.
Apart from the popular social media platforms, candidates of APAC are also using a all-in-one application called WeChat. If you are recruiting in the South Asian countries, especially China, consider joining this platform for a quicker access to the local talent pool.
Initially, it can be difficult for recruiters to develop a WeChat recruitment strategy as they are new to the platform. However, once you get started, the scope of finding new talent is maximum. You can use this platform to promote creative job posts, add multiple job vacancies and so on.
Are you building an APAC team? Here are some of the core aspects to keep in mind:
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