SINGAPORE, March 29, 2023 /PRNewswire/ -- DBS and ofi (Olam Food Ingredients) have been named by global HR advisory firm Kincentric as Regional Best Employers in 2022 for the Asia Pacific region. As part of its leading employer program, Kincentric identifies organisations that demonstrate outstanding people practices and workplace excellence. While DBS has received the award for seven years in a row, it is the second time that ofi has been recognised.
Locally, DBS has been identified as a Kincentric Best Employer across Singapore, Hong Kong, Mainland China, Taiwan, India, South Korea, Australia, UK and USA, while companies under ofi have been recognised as a Best Employer in Indonesia and China.
Leveraging employee opinion, the most objective measure possible, Kincentric identifies Best Employers through four pillars: Employee Engagement, Organisational Agility, Engaging Leadership and Talent Focus, each of which are critical to organisational excellence. Research shows that outperformance in these four parameters leads to stronger, more sustainable business results.
Andrew How, Market Leader at Kincentric Singapore said, "In response to the ever-changing business landscape, it is imperative for organisations to continually evolve their talent strategies to stay ahead of the game. Kincentric's Regional Best Employers have been leading the way by accelerating the transition to being future-ready organisations that are highly engaged, agile and people-centric. They serve as great examples for other businesses and industries to strive towards in addressing post-pandemic challenges and in helping their people to thrive."
DBS and ofi are the only two organisations to achieve outstanding scores in the Asia Pacific region this year, outperforming peers in the region by at least 7 percentage points or more. According to the results, both DBS and ofi excelled in motivating staff (10 - 13%*), investing in new ideas (10 - 12%*), as well as in recognising employees (9 - 13%*). The data also validates the importance of support for career growth in attracting and retaining talent, exemplified by the two companies' higher standings (8 - 12%*) in this dimension.
Lee Yan Hong, Group Head of Human Resources, DBS said, "At DBS, we are committed to building the long-term careers of our people, taking care of their holistic wellbeing and nurturing a great culture. Being recognised as one of Kincentric's Best Employers re-affirms our commitment to nurturing an engaged and future-ready workforce and to be an employer of choice for those looking to do purposeful work that intersects finance, technology, and sustainability."
Naveen Chhabra, Regional HR Head for APAC, ofi said, "Through a three-pronged employee engagement approach, we are committed to building an inclusive, diverse, and equitable workplace while empowering our employees to develop professionally and personally. The Kincentric Best Employers program helped us to benchmark our efforts and engage our employees on areas for improvement. We are honoured to be recognised for a second year, which validates our efforts in striving to continually improve our people-first policies and employee advocacy practices that drive our success and performance. It is only with inspired employees that we can achieve our purpose - Be the change for good food and a healthy future."
The research also revealed that 77% of employees in Kincentric Best Employer organisations in Asia Pacific feel that they are paid fairly for their contributions towards organisational success - 20% higher than others, with almost the same proportion rarely thinking about leaving their company - 14% higher than the average. This further substantiates the fact that employers who are looking to retain talent, may need to attach more importance to understanding and managing employees' perception of work-pay fairness and recognition. Notably, companies in the region still have a long way to go in fostering belonging according to the research, with only one in three feeling connected in their workplace.
* Indicates % higher than their peers
Kincentric, a Spencer Stuart company, helps organisations unlock the power of people and teams to ignite change and drive better business results. With decades of experience and specialist expertise in areas such as culture, employee engagement, leadership assessment and development, HR and talent advisory, and diversity, equity and inclusion, we use data-driven insights to architect solutions that add value, enhance agility and increase organisational effectiveness. For more information, visit kincentric.com.