The lack of clear career progression previously prompted 80% of professionals to leave a role in Aisa Pacific, according to a report by recruitment firm Robert Walters.
Most organizations — 84% — had professionals cite a lack of career progression as their reason for leaving, survey results indicate.
The firm surveyed more than 1,300 professionals and hiring managers across Hong Kong, mainland China, Taiwan, Indonesia, Malaysia, Singapore, Thailand and Vietnam. The study examined critical career progression topics, and offers recommendations on how an organization can use career progression to hire the best, said Robert Walters in a statement.
In addition, only 10% of hiring managers believe their organization always followed through on career progression incentives, while 54% say their organizations 'mostly' followed through and 36% don't think their organizations do so.
"Career progression matters for both organizations and professionals," said Matthew Bennett, managing director— Greater China, Robert Walters. "Survey results suggest that motivated professionals are constantly seeking opportunities to expand their job portfolios and advance their career prospects.
As a result, organizations can only attract and retain the top players when they place career progression as an integral part of their talent management strategy, he added.
Remuneration isn't the major motivator for many professionals, said Robert Walters.
"Top talent is driven by a need to feel engaged and challenged," Bennett noted. "There is no point in increasing a salary if they are still feeling unmotivated, and the statistics showed it will only engage employees for another year."
Despite this, remuneration has to be in line with market standards and fairly compensate workers, he added.
Other key findings of the survey:
- 74% of job seekers deemed career progression 'very important' when considering new job opportunities
- 85% of professionals enquired specifically about career progression during the interview process
- 33% of job seekers regarded 'expanded portfolio and work experience' as their most valued career progression initiative
- 78% of organizations offered career progression in the form of international mobility among their global offices
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