New research finds that chief experience officers across the Asia Pacific region project revenue growth and increased acquisitions in the coming years.
By Maggie Mancini
A new report from Darwinbox and People Matters finds that chief experience officers (CXOs) across the APAC region project high growth and profitability in the coming years. While 83% of CXOs from the region say they expect revenue growth over the next few years, 70% foresee a rise in mergers and acquisitions while another 80% state that organic expansion will remain an important driver of growth and profitability.
The HR Evolution Perspectives report features feedback from more than 1,200 HR practitioners, 350 CXOs, and 1,500 employees to showcase evolving priorities. Some of the key findings from the report are below.
- Approximately 83% of companies in APAC expect growth, with 81% saying they anticipate becoming more profitable in the coming years. More than two-thirds (69%) of CXOs across the region are aiming to expand their headcount. The only exception to this group is a few high-cost locations and industries like telecommunications, media, and technology.
- Nearly two-thirds (63%) of CXOs across APAC highlight developing capabilities as their most significant talent risk, yet only 27% feel they are adequately prepared to address this concern.
- Employees demand better, more capable leaders. More than half (52%) of employees say good leadership is a must.
- More than two-thirds (68%) of CXOs say better talent management integration is a key priority. Another 55% say that unifying their HR tech is the need of the hour.
- Approximately 68% of CXOs want employee experience to be an important outcome of their HR transformation journeys, 63% want to improve the quality of HR services, and 59% want to empower managers and frontline employees.
A rapidly evolving market presents varying challenges to leaders across APAC. To better address these challenges and achieve growth, the report finds that HR leaders want to focus on agility and employee experience as two main pillars of this change.
“The focal point of HR strategy is becoming increasingly centered on enhancing the employee experience, empowering frontline staff and managers to lead, emphasizing a robust knowledge base, and witnessing a substantial surge in the integration of technology,” says Vikrant Khanna, global head of value management, advisory, and solutions at Darwinbox. “This shift signifies that the new narrative is firmly rooted in an outside-in approach.”