Retaining talent: The challenge facing Southeast Asia’s startups
A recent study showed that 63% of startups in Southeast Asia are worried about their ability to compete with big tech firms when it comes to attracting and retaining talent. Paul Endacott, CEO and Founder of GRIT Search, shared insights from his company's latest "DSC and growth and scale talent playbook." He pointed out the crucial elements that make up the playbook, such as company culture, career development opportunities, talent retention, talent recruitment, rewards and compensation, and infrastructure to support employee growth.
Endicott suggests that startups should start by defining their organization's purpose and mission, maintain consistency in messaging, and have a long-term vision for growth. To attract and retain digital talent, companies must focus on creating a culture that appeals to employees, offering career advancement opportunities, providing clear rewards and compensation, and having a well-defined career path within the company.
Moreover, Endicott emphasized the importance of gathering data on why employees are leaving and using it to improve the company. By focusing on these key elements and fostering a supportive and engaging work environment, startups can effectively compete with larger tech companies and attract the talent they need to succeed.
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