Morgan Philips has recently released the 2023 Asia Talent Report, which addresses key issues affecting the workforce in the Asia-Pacific region. With unemployment rates reaching a 40-year high in some markets, the report aims to provide guidance on how to modernize workplace culture and foster employee retention while creating a compelling employer brand.

One of the major challenges companies are facing is a polarized job market, with new recruits demanding higher wages and more benefits. Millennials and Gen Z workers are coming of age, creating new challenges for organizations seeking to balance employee needs and traditional corporate values. The report suggests that companies need to be proactive in their approach to talent acquisition and retention, and consider the importance of sustainability, diversity, and interpersonal space.

The report also stresses the importance of understanding the impacts of external factors, such as the global economic climate, on the available workforce. With many employees concerned about the stability of the economy, companies can leverage this fear to their advantage in attracting and retaining talent.

The 2023 Asia Talent Report is based on survey data representing 5000 respondents from China (including Hong Kong and Taiwan), Singapore, and other Asia-Pacific markets. The report offers detailed insights into factors that will affect the talent market in 2023 and provides guidance for employers on how to attract and retain talent.

Morgan Philips is a leading global recruitment firm, specializing in executive search, professional recruitment, and talent consulting services. The company's mission is to help organizations find and retain top talent, enabling them to achieve their strategic objectives and business goals.

If you want to learn more about the Talent Report, please click to download the full version of the report for details