BTI Consultants, the executive search division of Kelly Services released the ‘Asian Outlook 2011’ – a comprehensive study on the CEO perspectives on Business & Talent in 2011 that highlights the economic outlook for 2011; the acquisition and management of talent; the main business priorities, and leading business concerns in Asia.
As a part of the ‘Asian Outlook 2011’, BTI Consultants released the views of business leaders and senior executives across Asian economies including China, India, Malaysia, Thailand, South Korea, Singapore and Indonesia. The survey has taken views from a wide range of industries including financial services, IT, construction, manufacturing, consumer electronics, retail, agribusiness, entertainment, and healthcare.
The European market remains burdened by independent debt issues and the United States is emerging at a radical pace from its economic woes. While there are sharp disparities between regional economies with unemployment levels being high in some centres, the Asian economy seems to be witnessing remarkably buoyant market conditions.
Mr. James Agrawal, Consulting Director & Head, BTI Consultants said, “China and India will continue to grow much faster than the rest of the Asian markets. With both the countries’ increasing flexibility towards foreign investments, the Asian economies’ growth will be further enhanced. The growing market also indicates that the economy is expected to see more intense competition in 2011 especially with the European economy”.
A prevailing sentiment from the business leaders surveyed suggests that hiring will be modest but selective, while substantial effort will go into extracting greater efficiency from the existing workforce. Many firms have withstood the impact of the economic downturn without having to shed large numbers of employees. These are mostly skilled workers who are highly valued to the enterprise.
Mr. Agrawal added, “Hiring will be selective in terms of skilled workforce in 2011 across verticals. India Inc. is expected to expand headcount to capitalise on growth opportunities. There will be increased focus on talent retention than talent acquisition”.
Other key findings of the survey include:
· Employee Engagement: Firms across all sectors are looking to carefully manage their labour programs through training and career development programmes
· China to drive regional economy: Most business leaders across the Asian economy are looking at China, since it has the potential to either steer the region’s economies, or leave them stagnant. They are looking at capitlaising the capabilities of their enterprises and people for better business prospects
· Business transformation: Most of the regions are re-arranging corporate priorities, including a shift from manufacturing to the fast-growing services sector. In 2011, the area of growth will be in services as we move from being product-driven to service-driven economy
· Economic & Political stability: There is a renewed focus on the role of government-linked corporations which have grown rapidly in Asia. The economy is expected to see more stability in terms of corporate governance and systematic regulation of existing business policies
As a part of the ‘Asian Outlook 2011’, BTI Consultants released the views of business leaders and senior executives across Asian economies including China, India, Malaysia, Thailand, South Korea, Singapore and Indonesia. The survey has taken views from a wide range of industries including financial services, IT, construction, manufacturing, consumer electronics, retail, agribusiness, entertainment, and healthcare.
The European market remains burdened by independent debt issues and the United States is emerging at a radical pace from its economic woes. While there are sharp disparities between regional economies with unemployment levels being high in some centres, the Asian economy seems to be witnessing remarkably buoyant market conditions.
Mr. James Agrawal, Consulting Director & Head, BTI Consultants said, “China and India will continue to grow much faster than the rest of the Asian markets. With both the countries’ increasing flexibility towards foreign investments, the Asian economies’ growth will be further enhanced. The growing market also indicates that the economy is expected to see more intense competition in 2011 especially with the European economy”.
A prevailing sentiment from the business leaders surveyed suggests that hiring will be modest but selective, while substantial effort will go into extracting greater efficiency from the existing workforce. Many firms have withstood the impact of the economic downturn without having to shed large numbers of employees. These are mostly skilled workers who are highly valued to the enterprise.
Mr. Agrawal added, “Hiring will be selective in terms of skilled workforce in 2011 across verticals. India Inc. is expected to expand headcount to capitalise on growth opportunities. There will be increased focus on talent retention than talent acquisition”.
Other key findings of the survey include:
· Employee Engagement: Firms across all sectors are looking to carefully manage their labour programs through training and career development programmes
· China to drive regional economy: Most business leaders across the Asian economy are looking at China, since it has the potential to either steer the region’s economies, or leave them stagnant. They are looking at capitlaising the capabilities of their enterprises and people for better business prospects
· Business transformation: Most of the regions are re-arranging corporate priorities, including a shift from manufacturing to the fast-growing services sector. In 2011, the area of growth will be in services as we move from being product-driven to service-driven economy
· Economic & Political stability: There is a renewed focus on the role of government-linked corporations which have grown rapidly in Asia. The economy is expected to see more stability in terms of corporate governance and systematic regulation of existing business policies
