New | Company brand, not salary, key to keeping top talent in Asia

Almost two-thirds of senior executives working in the consumer industry in Asia are mulling a job switch, and a bumper salary raise is no longer enough to persuade them to stay, a new survey has found.

Nearly 60 per cent of chief executives and senior executives are considering other employment options, while 28 per cent plan to leave their current job within two years if a better opportunity arises, according to a study released last week by executive search firm Heidrick & Struggles.

When considering the next job, compensation was the least important factor, the report said.

The survey involved 234 chief executives and human resources directors in the consumer goods, retail, apparel, hospitality and media sectors in 10 Asian countries.

"Gone are the days when more money meant more staff motivation. Today's candidates also value intangible job benefits that make their work rewarding," said Karen Fifer, a global managing partner of consumer markets practice at Heidrick & Struggles and the author of the study.

Employment considerations that mattered more than remuneration included credible and inspiring leadership teams with a global outlook and experience across diverse business areas, the health of the company and its reputation, the level of innovation and commitment to driving social sustainability, and even the chief executive's personal brand.