There are three top human resources (HR) trends that will be looked out by employers in Indonesia this year, according to Korn Ferry’s latest report. Dilal Ranasinghe, head of professional search and growth, ASEAN, RPO and professional search business at Korn Ferry, suggested that Indonesian firms are expecting to pay attention to three trends: personalised salaries, titles or role rebranding and the annual performance review.
In an official statement, Mr. Ranasinghe shared data released by Statistics Indonesia (BPS). The statistics noted that there would be 83 million people between the ages of 20 and 40 in Indonesia entering the job market by 2020. This would make the country’s productive, working age group rather unique as it comprised a younger generation, The Jakarta Post reports.
Given that Milennials are considered to have a different perspective on life compared to other older generations, many expected that they would desire different things at the workplace as well.
More and more business leaders are looking to adopt personalised salaries policy, in which HR departments should avoid generalized reward packages, as millennials and baby boomers are looking for different benefits. Meanwhile, the use of new job titles, such as chief happiness officer and chief people officer, have started to appear and they are considered more attractive to the younger generation.
In regard to annual appraisals, Korn Ferry’s research discovered that 30 percent respondents said annual reviews did not affect their work performance. In the same survey, majority employees (96 percent) shared that real time feedback and regular discussions with their superiors were more effective than annual reviews.
“In developing countries, such as Indonesia, the trend is even more relevant as there is a talent shortage, which influences salary increments,” said Ranasinghe,”In order to attract, develop and maintain human resources, companies need to realize the importance of artificial intelligence and talent analytics, while also being flexible and thinking ahead in talent management strategies.”
Read also: Korn Ferry Identifies Emerging Global Talent Trends For 2019