Research: The State of Talent Intelligence 2023 – South East Asia

Over the past three years, the most significant change in people management has been the digitalization of workplace operations, which has radically altered the way companies approach work. As a result, talent leaders have had to devise strategies to maintain employee engagement, productivity, and motivation in this new landscape.

HR technologies are at the heart of this change, with next-generation solutions being shaped by the 'experience' approach. 

The HR lifecycle has been redesigned to accommodate a hybrid work environment, and businesses are investing in technology to enhance their talent acquisition, learning and development, and compensation and benefits programs. 

People intelligence technologies go a level deeper. They leverage data-driven insights to evaluate how talent strategies impact performance, productivity, and engagement. While companies have implemented these technologies, it remains unclear if they are prepared for more advanced talent solutions.

The shift in priorities

Amidst an uncertain global economy, companies throughout the region are confronting similar obstacles. In the wake of the pandemic, various trends, such as the great resignation, an increase in gig work, concerns about a recession, and a rapidly changing geopolitical landscape, have altered the economic landscape in the region.  

This has resulted in a shortage of talent, as well as budgetary constraints, with attrition being the primary concern for all companies. 

As more businesses navigate the unstable economic climate, "budgets and resource constraints" have emerged as the second most pressing challenge. Smaller companies, with less than 2000 employees, identify "the lack of processes" as a key challenge, while larger firms, with more than 2000 employees, cite "the lack of management support" as a significant hurdle. There appears to be a need for stronger leadership support

To better understand the marketplace, Accendo, in partnership with People Matters, conducted a study on "The State of Talent Intelligence" as disruptive technologies continue to reshape how companies view the future of work. 

This research studies the current realities companies are navigating and the challenges they encounter in using technology to support their talent mandate—the level of maturity they have in technologies. With a focus on companies in Southeast Asia, this is the first of its kind research on the gaps that HR leaders need to address.

Trends shaping SEA businesses

As businesses across Southeast Asia expand and digitalise, they face a gradual but noticeable increase in the difficulty of filling roles. Our study has found that due to this difficulty, most HR leaders are only moderately confident that their organisation has the right talent in the right role to execute the organisational strategy.

Despite facing challenges in attracting talent and retaining the right talent in the right role, most companies seem unprepared to tackle the problem head-on.

Only 25% of companies say they are “very confident” that they have the right talent in the right role. 58 % of the companies say they are moderately confident. Larger companies (2000+ employees) are more confident that they have the right talent compared to smaller companies.

Download a copy of the research study to understand what’s shaping the talent trends of the future:

- Learn about the top trends that are reshaping talent strategies

- Understand what experts are doing to navigate this shift

- Reflect on case studies from leading companies