Cash incentive still top strategy to retain workers
20.05.12
CASH is still king when it comes to retaining or losing Asian corporate executives.
A study made by Bó Lè Associates, the largest executive search firm in Asia, showed that compensation is still the biggest determinant that prompts Asian corporate executives to leave their companies. This, in turn, apparently forces their employers to use cash incentives as their top retention strategy.
The survey was conducted at the end of 2011 with over 200 senior executives such as CEOs, COOs, CIOs and managing directors, VPs and AVPs, Senior HR managers and HR managers across industries in Greater China and Southeast Asia responding.
It showed that cash incentives were valued across the board as the most effective retention initiative overall, although individual industries differed in their choice of most valuable retention method.
Source: Business Mirror