Singapore, 9 December 2008 - Employee engagement in many Asia-Pacific countries - including Hong Kong, Singapore, South Korea and Taiwan - has declined over the past year, according to Watson Wyatt's 2008/2009 WorkAsiaTM study. While employee engagement rose or remained flat in some countries, overall engagement scores in the region dropped from 65 percent to 61 percent since Watson Wyatt's 2007 survey
Part of Watson Wyatt's ongoing WorkAttitudesTM studies of global employee attitudes, WorkAsiaTM shows a strong link between employee engagement and key business metrics such as productivity and turnover. The study found, for example, that highly engaged employees are 70 percent more likely than low-engagement employees to exceed performance expectations. They miss 27 percent fewer days of work due to illness and they represent very low turnover risk.
"These kinds of numbers highlight the importance of investing in programmes that strengthen commitment and line of sight, the two components that make up employee engagement," said Ilene Gochman, Global Practice Leader, Organisation Effectiveness, Watson Wyatt. "Our research shows that the key to driving organisation-wide engagement is to understand the similarities and differences of high-engagement and low-engagement workers. Insight into how their attitudes and experiences in the workplace differ can guide senior leaders and HR professionals in their efforts to increase engagement levels among all employees."
The employee attitudes for this survey and other WorkAttitudes surveys for 2008 and 2009 were collected from May to July of 2008, prior to the recent financial crisis. The current events unfolding in the financial markets reinforce the findings and conclusions of the studies: Keeping engagement levels high at all times, and particularly during economic downturns, is critical to successfully navigating a major crisis and returning an organisation to stability and profitability.
"Greater employee engagement is a valuable economic asset leading to higher productivity and retention of critical talent," said Deirdre Lander, Head of Human Capital Group, Hong Kong Watson Wyatt. "Economic downturns create uncertainty and job insecurity amongst employees, potentially weakening engagement and undermining the value of that asset. So it is crucial for employers to take steps to engage their employees even when business has slowed down."
Analysis of the WorkAsia data indicates that there are two ways that companies can maintain engagement. The first is to recognise engageable moments that occur throughout the employee relationship and handle them well to ensure a quality employee experience. The second is to continuously engage people through strong strategic direction and leadership, intense customer focus, equitable rewards and effective internal communication. Companies that do both are likely to make it through the current crisis and deliver superior results in the years ahead.
Jennifer Ng
Regional PR Manager
Tel: (65) 6880 5628
jennifer.ng@watsonwyatt.com
The 2008/2009 WorkAsiaTM survey is part of the ongoing Watson Wyatt Worldwide WorkAttitudesTM studies that measure employee attitudes around the globe. The WorkAttitudesTM database is one of the largest and most current in the world and uses a consistent polling methodology in all regions. The database provides insight into employee concerns and perceptions within individual regions as well as on a global scale. As a result, organisations can make meaningful comparisons globally and regionally as well as across individual countries. In the 2008/2009 study, Watson Wyatt surveyed more than 11,500 full-time employees covering all major employment sectors in Australia, China, Hong Kong, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan and Thailand.
Watson Wyatt (NYSE, NASDAQ: WW) is the trusted business partner to the world's leading organisations on people and financial issues. The firm's global services include: managing the cost and effectiveness of employee benefit programs; developing attraction, retention and reward strategies; advising pension plan sponsors and other institutions on optimal investment strategies; providing strategic and financial advice to insurance and financial services companies; and delivering related technology, outsourcing and data services. Watson Wyatt has 7,600 associates in 32 countries and is located on the Web at www.watsonwyatt.com.
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