As Attrition Rates Rise Across Asia, This “Untapped Talent Pool†Presents a Solution
The big quit, where people quit their jobs in the wake of the COVID pandemic for a better work-life balance and to pursue their passion, is still going strong and Asian economies are starting to feel the heat now.
According to the 2021 Mercer survey, employers in Malaysia, Indonesia, the Philippines, and Thailand observed higher turnover rates, particularly in mid-career. This means that employers should look for ways to deal with labor shortages and, according to a senior International Labor Organization (ILO) official, the solution to the looming crisis lies in a “reservoir under -exploited†talents: people with disabilities.
Joni Simpson, senior gender, equality and non-discrimination specialist, said there were “around 472 million people with disabilities of working age in Asia”, but almost two-thirds of them they are outside the labor force.
A recent ILO report titled “Unleashing the Potential of People with Disabilities in Asia and the Pacific” states that Asian companies are struggling to include people with disabilities due to a “lack of awareness” and “dominant stereotypes”. “.
He said: “Some of the most common assumptions and fears are that people with disabilities are only able to perform routine repetitive work, that they have low productivity and a high accident rate, and that adaptations to the workplace will be costly.”
However, Simpson said “highly skilled disabled workers are out there wanting to find jobs.” He added that it was up to companies to step up their “pro-diversity hiring practices”.
A senior Deutsche Bank official also stressed the need for companies to be open to hiring people with disabilities. “Statistically, more than a billion people in the world have a disability. But what is often overlooked is that within that number are countless talented and gifted people who are more than able and willing to support, surpass and even lead their peers,†said Bernd Starke, Head of DACH at Deutsche Bank (Germany, Austria and Switzerland). corporate coverage for Asia-Pacific.
Benefits of hiring people with disabilities
According to a Glassdoor survey, 76% of employees and job seekers want a diverse workforce. Therefore, hiring people with disabilities gives a company a competitive advantage.
It has also been reported that companies’ reputations and profitability skyrocket when they hire people with disabilities. This was substantiated by a 2018 Accenture study which found that “companies that actively seek to employ people with disabilities reported higher revenues, net income and profit margins than companies that do not” .
Moreover, at a time when the rate of attrition continues to increase, employees with disabilities arrive with strong job loyalty. A study by DuPont de Nemours – focusing on the American labor market – concluded that people with disabilities have better retention rates and less absenteeism. Experts also point out that including people with disabilities on a team instills empathy in others.
