APAC CXOS VIEW GROWTH, AGILITY AND EXPERIENCE AS CRUCIAL SUCCESS FACTORS

HR Evolution Perspectives 2023, a Darwinbox and People Matters’ initiative explores changing HR trends in Asia (Graphic: Business Wire)

KUALA LUMPUR, Oct 18 (Bernama) -- Chief Experience Officers (CXOs) across Asia Pacific (APAC) projected high growth and profitability in the coming few years, according to HR Evolution Perspectives 2023, a Darwinbox and People Matters’ initiative which explores changing human resources (HR) trends.

While 83 per cent of CXOs across the region said they expect revenue growth in the upcoming years, 70 per cent foresaw a rise in mergers and acquisitions (M&A) while another 80 per cent projected that organic expansion will remain an important driver of growth and profitability.

“With the world of work evolving rapidly, the study helps anchor HR strategies in quantifiable insights and helps explain, in great detail, how talent leaders can build future-ready practices that help companies scale and address their growth projections,” said People Matters Chief Executive Officer & Editor-in-Chief, Ester Martinez in a statement.

Among the key findings from the report are 83 per cent of companies across APAC stated a positive growth sentiment, while 81 per cent claimed that becoming more profitable is on the cards and 69 per cent of CXOs are aiming to expand their headcount.

Furthermore, 63 per cent of CXOs across APAC highlighted developing capabilities as their most significant talent risk. Yet only 27 per cent felt they are adequately prepared to address this concern.

The findings also revealed that employees demand better, more capable leaders with 52 per cent of employees surveyed saying good leadership is a must.

In addition, CXOs (68 per cent) said better talent management integration is a key priority while another 55 per cent indicated that unifying their HR tech is the need of the hour.

A rapidly evolving market presents varying challenges to leaders across APAC. To better address these challenges and achieve growth, the report found that HR leaders want to focus on Agility and Employee Experience as two key pillars of this change.

The Darwinbox and People Matters’ landmark report gathered responses from over 1,200 HR practitioners, 350 CXOs and around 1,500 employees, bringing together both employer and employee voices to showcase evolving priorities and enable strategic change.

-- BERNAMA