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APAC Edition
23rd October 2024
 
THE HOT STORY
Korea's workforce sees first decline
In 2024, Korea experienced its first decline in the number of regular workers, dropping to 13.69m, a decrease of 147,000 from the previous year, according to Statistics Korea. This shift has resulted in a record salary gap between regular and non-regular employees, with the latter group rising to 8.46m. The proportion of non-regular workers now stands at 38.2%, the second-highest since 2003. Notably, the average monthly salary for non-regular workers reached 2.05m won, marking a significant increase, while regular workers earned an average of 3.79m won. Im Kyung-eun, an agency official, stated: "A growing number of people, particularly among senior citizens and youth, seek to work when they want and need to." This trend highlights the evolving dynamics of Korea's job market.
WORKFORCE
UPNL employees threaten strike action
Over 22,000 employees of Uttarakhand Purva Sainik Kalyan Nigam Ltd (UPNL) in India are threatening to strike if the state government does not regularise their services following a recent Supreme Court ruling. The court upheld a Nainital high court order directing the government to regularise UPNL's employees. Vinai Prasad, UPNL general secretary, expressed disappointment over the government's failure to comply, stating: "In 2018, the high court had directed the government to frame rules within a year for the regularisation of employees." Mahesh Bhatt, UPNL working president, highlighted that many employees have been with the company since 2005 and noted that similar regularisation has occurred in other states. He warned that if the government does not act, "we will be compelled to adopt a more aggressive stance towards them."
Unhappy leave: A new trend
The trend of unhappy leave allows employees to take time off for emotional well-being, differing from traditional sick leave. Originating in China through the supermarket chain Pang Dong Lai, this policy offers up to 10 days of leave annually for emotional distress, with management ensuring that all requests are approved. The initiative aims to enhance employee mental health, which is crucial for workplace morale and productivity. According to the report "Happiness at Work - How Happy is India's Workforce? - 2024," a significant percentage of the Indian workforce feels unhappy at work, with many considering leaving their jobs. Namrata Tata, director of Happiest Places to Work, highlighted the need for organisations to prioritise employee well-being.
Meta employees lose jobs over meal misuse
Meta employees in Los Angeles have faced job losses after misusing meal vouchers intended for office use. According to the Financial Times, these vouchers, worth $20 for breakfast and $25 for lunch and dinner, were used for personal purchases, including items like wine glasses and home food deliveries. A source revealed that some employees had misused their meal credits over an extended period, with a few pooling their funds together. An ex-Meta employee, who earned around $400,000, shared on the Blind app that it was "almost surreal that this was happening.” Those who occasionally misused their credits were able to retain their positions, highlighting a disparity in enforcement.
HIRING
Raymond Lifestyle to hire 9,000 workers
Raymond Lifestyle, an Indian apparel firm, plans to hire approximately 9,000 workers over the next three years to support the opening of 900 new stores. Group chair Gautam Singhania stated: "Brands have decided to move to India to meet their requirements," highlighting the growing interest from global clients. The company, which recently spun off its lifestyle division to attract more investors, aims to enhance its garmenting capacity amid challenges in Bangladesh's apparel production. Last year, Raymond's garments business reported sales of 11.39bn rupees ($135.5m), contributing significantly to the group's revenue. Additionally, the firm is exploring opportunities in the fast fashion sector, inspired by the success of Tata Group-owned Zudio.
TECHNOLOGY
Techies transform Indian healthcare landscape
A new generation of Indian tech entrepreneurs is striving to revolutionise the healthcare system, addressing acute staff shortages and inadequate infrastructure. Mudit Dandwate, a former race car engineer, founded Dozee to enhance patient monitoring using advanced sensors. “We use a lot of sensors, analytics, artificial intelligence to assess the health of a car,” he stated, highlighting the innovative approach. With $3.7bn invested in health-related start-ups since 2022, the sector is poised for growth, with Bain & Co. predicting a $60bn opportunity by 2028. However, challenges persist, as 170 start-ups have failed since 2023. Companies like Cloudphysician are also making strides, enabling remote monitoring in ICUs across India. As technology bridges the gap in healthcare delivery, founders are optimistic about expanding into lucrative markets like the US and the Middle East.
AI agents redefine the future of work
Artificial intelligence (AI) is transforming the workplace, with AI agents set to redefine labour dynamics. Sam Altman, chief executive of OpenAI, predicts that “2025 is when AI agents will work.” Research from The Conference Board reveals that 56% of workers already use generative AI, with nearly 10% using it daily. AI agents can manage entire workflows, making decisions based on real-time data, unlike traditional bots that perform automated tasks. A Capgemini survey indicates that 82% of tech executives plan to integrate AI agents within three years, highlighting a significant shift in workplace technology. However, concerns about job displacement persist, with a Goldman Sachs report estimating that AI could replace 300m full-time jobs. As businesses adapt, leaders must focus on skill development, ethical considerations, and change management to ensure the successful integration of AI into the workforce.
Microsoft unveils game-changing AI agents
Microsoft has introduced "autonomous agents," advanced artificial intelligence (AI) bots designed to assist with various office tasks, as announced by Satya Nadella in London. These agents can "understand the nature of your work and act on your behalf," providing support across different business roles. They can monitor emails and perform tasks continuously, offering a significant advantage over human workers. Jared Spataro, chief marketing officer for AI at Microsoft, compared these agents to robots in factories, emphasising their role in handling tedious tasks. Ece Kamar, managing director of AI Frontiers at Microsoft, highlighted the collaborative relationship between these agents and human workers, stating: "My personal goal is not these agents taking over jobs, but rather creating the right interactions." The launch aims to enhance productivity and reshape workplace dynamics, with Microsoft already boasting 2.1m monthly users of its AI tool, Copilot.
AI disrupts consulting: Meet Pathfindr
Pathfindr, a new start-up co-founded by Dawid Naude, a former managing director at Accenture, aims to revolutionise the consulting industry by leveraging artificial intelligence (AI). The company offers a private version of ChatGPT that streamlines the assessment of client operations and suggests long-term AI applications. The service has already shown significant results, reducing the time to update training materials from nine weeks to three days. With clients like Woolworths and Engineers Australia, Pathfindr is generating approximately $300,000 monthly and aims to develop a self-service consulting platform for simpler tasks. Naude emphasises the need for consultants to specialise, stating, “I don't think you're going to be able to get away with being a generalist [consultant] any longer.”
WORKPLACE
Amazon's return to office backlash
Amazon's recent mandate for employees to return to the office by January 2025 has led to significant discontent among its workforce. A Blind survey revealed that nearly 75% of Amazon employees are contemplating leaving their jobs due to the policy. The survey also indicated that 80% of respondents know someone considering a job change, with 32% aware of individuals who have already resigned. The 2024 Global Workforce Report by Remote.com highlights that 67% of U.S. employers have lost talent to competitors offering flexible work options. In contrast, 71% of employers are expanding their global workforce and implementing remote policies. The report shows that companies providing remote work options see benefits such as improved work-life balance and higher productivity.
Ngern Tidlor shines in HR awards
Ngern Tidlor has been recognised as one of the HR Asia Best Companies to Work for in Asia 2024, highlighting its commitment to a positive workplace culture. Nutchanart Arpamongkol, Head of Human Resources, and Kanjanat Chalermjulamanee, Head of Tidlor Academy, accepted the award on behalf of the company. Out of 298 participants in Thailand, only 71 organisations received the honour, showcasing Ngern Tidlor's success in promoting employee well-being and a high quality of life. The company focuses on developing over 8,000 employees through strong corporate values and skill development in various areas. The award, won for the second time, underscores the importance of a nurturing and sustainable community within Ngern Tidlor, which is dedicated to fairness and transparency in its operations.
CULTURE
Bullying in Malaysia's health sector exposed
The tragic case of Tay Tien Yaa, a 30-year-old head of the chemical pathology unit, has highlighted the issue of workplace bullying in Malaysia's health sector. Following her apparent suicide, allegedly due to persistent bullying from a senior colleague, the health ministry has pledged to implement new prevention guidelines. Health Minister Dzulkefly Ahmad stated that "the health ministry does not compromise on the issue of bullying,” indicating a commitment to address this pressing concern. A 2023 survey by the Malaysian Medical Association revealed that up to 40% of doctors have experienced bullying, with many reluctant to report incidents due to fear of retaliation. The ministry's upcoming guidelines aim to enhance existing support systems and provide a safer working environment for healthcare professionals.
TRAINING & DEVELOPMENT
China boosts doctoral education efforts
China is enhancing its doctoral education system to strengthen its talent pool in science and technology. The State Council and the Communist Party's Central Committee have issued guidelines urging universities to “cultivate national strategic talent and talent in short supply.” The initiative aims to create a “world-class doctoral education system with Chinese characteristics” and increase the number of doctoral programmes, particularly in medicine, engineering, and emerging technologies. Chinese President Xi Jinping emphasised the need for “large, well-structured and well-educated teams of innovative talent” over the next five years, highlighting the urgency of nurturing hi-tech talent amid escalating technological competition with the United States. As of last year, 612,500 students were pursuing doctoral degrees in China, with expectations for growth in the coming years.
INTERNATIONAL
Germany's four-day work week experiment ends
Germany's six-month trial of a four-day work week has concluded, with many businesses opting to continue the practice. Soren Fricke, co-founder of Solidsense, stated: “I don't want to work on Fridays any more. I just don't.” The trial involved 45 companies, with 73% of participants willing to make the change permanent. The initiative, organised by 4 Day Week Global in collaboration with the University of Munster, showed improvements in employee health and recruitment ease. However, some companies faced challenges, with 20% reverting to a five-day schedule. Julia Backmann, the study's lead researcher, noted: “I still don't think we should be saying that Germany needs a four-day week for all companies.” Despite mixed results, the trial has sparked discussions on future work models in Germany.
 


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