Brazil is the place to go for HR professionals who seek contentment, satisfaction and high engagement levels in their job.
According to an annual Elliott Scott HR survey conducted on four different markets namely Hong Kong, Singapore, Brazil and United States, it is surprising to note that Brazil tops the chart when it comes to highest levels of employee engagement, better perks and benefits, higher salary compensation, diversity at workplace and leadership.
Brazil records the highest pay rise for professionals at 8 percent annually and bonus at 16 percent to attract and retain talented workforce within the country. This is followed by Hong Kong offering 6 percent pay rise annually and 14 percent bonus hike, while United States registers the lowest in terms of annual pay hike at 4.5 percent and 4 percent for bonus. Singapore continues to maintain an average of 5 percent pay rise annually and 14 percent bonuses for employees.
It doesn’t come as a matter of surprise to understand, why employees in Brazil are extremely happy and contented with their jobs. The country records the highest engagement levels of workforce at 73 percent annually, in comparison to Hong Kong at 51 percent, Singapore and United States at 61 percent and 69 percent respectively.
The reason we decipher for local talent to be retained within the country is the fact that they value employees and they further enjoy more paid leaves than any other country surveyed, which is more than 25 days per year.
However, Hong Kong offers the lowest number of leaves, which are just 10 to 15 days annually. Singapore and United States maintain an average of 15 to 25 days annually.
Brazil further offers maximum benefits to HR professionals in terms of medical allowances, life insurance, food, and 44 percent cash allowance every year. United States offers the highest dental allowance at 90 percent, while better housing facilities are provided to Hong Kong employees at 55 percent and better transportation is provided in Singapore to register 67 percent annually.
According to the survey, 39 percent of the employees in Brazil are extremely satisfied with their pay rise and bonuses offered, while US sees major disappointment among staffers at 34 percent.
Registering a global average of 63 percent, the number of employees enjoying work from home options, United States tops the chart with 74 percent respondents working from home. Brazil follows at 68 percent and Singapore at 59 percent, while Hong Kong we understand, do not offer such convenient benefits to employees, at an annual average of 48 percent. Hence, there is little left to wonder why crowds of professionals are flocking towards Brazil.
Brazil offers the most lucrative proposition for HR professionals in the market; however when it comes to attracting talent from abroad and welcoming diversity at the workplace, the country has yet to open doors.
Only 1 percent of the respondents surveyed are foreign in Brazil as in comparison to United States that shows 17 percent respondents who are relocated from other markets. Singapore continues to thrust its push for local talent at 75 percent, and Hong Kong maintains neutrality at 59 percent.