12 Tips to Attract and Retain Talents in Indonesia’s Growing Market

Indonesia has been identified as one of the fastest-growing markets in Southeast Asia. The amount of foreign direct investment (FDI) in Indonesia is rising by 20% this year. It is the highest annual increase in more than five years. By far, FDIs have played a big role in the development of human capital in Indonesia. It also means that there will be an increasing demand for top talent in Indonesia. 

Looking at this trend, employers in Indonesia must be aware and remain abreast of the latest developments in the industry and market shifts. Proper industry analysis and appropriate talent management are needed to make sure employers can attract and retain high-quality talents. Because despite Indonesia having a large talent pool with more than 260 million candidates and 2 million newly productive workers each year, employers still face many challenges. 

Attract Talents

There is an eternal challenge in attracting top talents because the demand is always more than the supply. Moreover, the attraction and decision factors of the candidates are changing dynamically. Recruiting talents is just the beginning of the process. 

There are still challenges to finding applicants that match the company culture, match the salary applications, and match the required skills. To beat competitors in attracting applicants, and smoothen the recruitment process, there are a few things you can try. 

• Showcase company culture and employee experience as branding to attract talent
• Get creative, hire from unusual but potential sources
• Offer competitive compensation as well as more personal compensation
• Ensure the soft skills and qualities of the leaders
• Build a culture for remote or hybrid working
• Show emotional intelligence in the recruitment process

Retain Talents

Holding a steady employee retention rate in growing economies and a talent-short environment could be a challenge. Mainly because our finest talent is always at risk of being headhunted by competitors. 

Furthermore, employees can have a variety of reasons for leaving such as wanting better well-being, mental health, and happiness, changing careers, roles, or industries, looking for promotion, dissatisfaction with pay, dissatisfaction with the company's direction, and not fitting with the culture of the company. 

Here are some tips to help increase employee retention and keep the highest quality talent in your company. 

• Build a strong and sustainable company culture
• Enhance employee experience and employee engagement
• Pay attention to employee well-being
• Include/integrate employees into the company’s digital transformation strategy
• Have a willingness to adapt to employees' needs.
• Prioritize to retain the top 20 performers and steady performers