1、Talent retention and succession planning are crucial for organisations inthe Asia Pacific region,which currently faces significant challenges withtalent scarcity,retention,and attraction.In this write-up,we will discussthe importance of talent retention and succession planning in the region.Addition
2、ally,we will outline step-by-step approaches that HRprofessionals and leaders can take to adopt a proactive stance in talentretention and succession planning.THE STRATEGIC IMPERATIVE:Talent Retention and Succession Planningfor HR Professionals and Leaders1Copyright 2023.PERSOLKELLY Consulting.All ri
3、ghts reserved.December 2023 Issue No.18Why are Talent Retention andSuccession PlanningImportant in the Asia PacificRegion?Talent retention and successionplanning are critical for organisations inthe Asia Pacific region grappling withtalent scarcity,particularly in retentionand attraction.Despite its
4、 largepopulation,the region faces challengesin maintaining a robust talent pool,intensifying competition for skilledprofessionals.Hence,retaining toptalent becomes a focal point formaintaining competitiveness.Leadership PipelineThe leadership pipeline in some Asianorganisations appears weak due todi
5、fficulties in retaining employees withleadership potential.Successionplanning can help organisations identifyfuture leaders and encourage talentretention by assisting employees inmaking career plans and providingdevelopment opportunities.MercersTalent Trends 2022 report highlightsthat organisations
6、in Asia are activelyinvesting in leadership developmentprograms and focusing on developingtheir leadership pipelines.Boomerang TalentFormer employees,known asboomerang talent,can significantlybenefit organisations in the Asia Pacificregion.TurnoverHigh turnover rates present asubstantial challenge t