Rising inflation and stagnating wages are forcing employers to explore alternative methods to attract talent, according to LinkedIn’s Future of Recruiting in Southeast Asia report.
The study found that only 12% of employers in the region increased salaries to match rapidly-rising inflation. To lure talent, companies are instead focusing on branding, learning and development opportunities, and diversity and inclusion policies. Approximately 57% of recruiters expect their budgets to increase this year, while 67% anticipate higher branding investments.
As the balance of power shifts towards candidates, employers must align their branding with candidates’ expectations, LinkedIn advises.
The report highlights the increasing importance of Learning and Development, and Diversity, Equity and Inclusion, with 67% and 73% of experts prioritising these respectively. Flexible working also emerged as a significant factor for 44% of candidates and 63% of recruiters.
