How companies can successfully manage risk in Asia

With more companies embarking on a journey of organisational transformation during the pandemic, there was a renewed focus on employee wellbeing to build workforce agility and resilience.

Employee-centricity became a focus, as employee personas were assessed and the opinions of employees sought on a range of matters, reported Aon in its new Managing Risk in Connected Asia, 2022 Asia Market Review report.

With employee turnover rising and talent shortages increasingly widespread, winning the talent war is not a numbers game.

“Employers need to deploy lead analytics on workforce intelligence to identify gaps and construct roadmaps to realise the full potential of their current workforce. This will help to build a strong value proposition for attracting top talent in the market,” said Aon.

To optimise their workforce for the future, companies need to identify future skills and develop plans to reskill employees, said Aon, who also predicted more companies pushing on to establish an inclusive culture for employees with diverse backgrounds to improve workforce agility, and to enhance diversity, equity, and inclusion (DEI) strategies.

Aon also advised companies to pay attention to employee financial wellbeing, which is being affected by levels of vaccination rates and gender. Effective employee financial wellbeing, Aon explained, requires an inclusive approach by considering employees’ financial dependents, including elders and children.

Aon recommended companies to focus on the smart design of retirement strategies, on linkages that drive engagement and better employee financial decisions, and the effective governance of retirement programmes.

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