What are the most pressing challenges leaders face today?

Mr Toby Fowlston, Managing Director, Robert Walters Southeast Asia

I am fortunate to regularly meet business leaders and when discussing their challenges, one consistent topic that always surfaces is how to attract and retain good people. Companies who successfully attract good people adopt common practices; getting their best people involved in the interview process, ensuring the process is well-organised, and above all offering the right package. It amazes me how many companies try to secure a bargain at the offer stage, in the hope they will get their preferred candidate at a discount. Nothing good will ever come from it if a candidate joins an organisation feeling short-changed from day one. Having secured good talent, retention is a further challenge. When looking at organisations with high retention rates, there are some common themes: open and regular communication (particularly around progression and the road map to get there), regular training, clear and consistent leadership, and most importantly, a fun working environment.

Mr Benjamin Glynn, Managing Director, Emarsys Southeast Asia

Technology has helped companies in many ways – allowing businesses to be more efficient in communicating with employees and customers alike. Technology however is not the end point; a human touch is often paramount. As leaders, we need to ensure that empathy and sincerity are not lost in our interactions, even while implementing technology to boost productivity. It is important for organisations with a worldwide presence to create opportunities for stakeholders to get together, formally or informally, putting faces to names. Going that extra mile to connect with people offline shows your dedication to the organisation and its stakeholders.

Mr Terry O’Connor, Group CEO, Courts Asia

Time is of essence for today’s leaders, who grapple with a multitude of challenges. Externally, they need to carve out areas of growth and drive productivity for the organisation at a breakneck speed in order to return shareholder value, particularly for listed companies. Yet at the same time, as organisations are operating in an increasingly complex and multi-dimensional business climate, building sustainable growth and differentiation is a process that takes into view a longer time horizon. Internally, effective leaders must concurrently develop a completely new set of skills and qualities to harness the potential of an innovative digital world, whilst ensuring they apportion sufficient face time to existing facets of the business. They also have to transcend geographical and cultural boundaries to meet the expectations of a range of stakeholders, from employees and customers to the community.

Mr Frédéric Crampé, Founder & CEO, BeeBryte

Globalisation has had a profound impact on employment, offering both great opportunities and serious challenges. Voluntary employee turnover is on the rise. Yet a number of companies are outperforming their peers with very high levels of staff satisfaction and retention. What are they doing differently? Well, today more than ever, I believe leaders need to inspire, attract and develop talents to fuel growth, improve productivity and catalyse disruptive innovations. Employees feel engaged and want to work for leaders who have a strong ethical and moral compass. Leaders who are dedicated to building a rich corporate culture, embracing shared values, such as sustainability. It is a pressing challenge that leaders can and should turn into a competitive advantage.

Mr Trevor Healy, Executive Chairman, Nexmo

Constant innovation needs to be at the top of their agenda. Start-up is now a favourite buzzword but every enterprise was once a start-up with a great idea. The problem is as companies grow, they risk getting bogged down in organisational structures and red tape. Leaders need to focus on motivating their teams to find new ideas, staying relevant and profitable. More often than not, successful companies are those with leaders driving employees to evolve and push boundaries through their work. For growth to happen, leaders must provide the space for employees to make mistakes, and embrace that as part of the learning process. Facebook and Google, who have grown rapidly, encourage innovation within the company; these are good examples of finding that balance. When leaders share the responsibility for innovation with their employees, they ignite a passion for greater work and greater results.