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Accelerating Asia's Growth and Competitiveness Through Effective Talent Mobility

21 Aug 2023 00:09 | Sharon Michnay (Administrator)

Asia is a dynamic region that is and will drive global growth for years to come. The Asian Development Bank (ADB) was developed to help enable that growth. ADB recently released a report outlining their work with the Association of Southeast Asian Nations (ASEAN), titled "The ADB's Role in ASEAN Integration: Pillars of ASEAN." One of the pivotal pillars, Pillar 3, revolves around "Growth and Competitiveness," aiming to foster regional economic growth and enhance competitiveness. To this end, the Asia Talent Mobility Alliance (ATMA) - www.asiatma.com - emerges as a key enabler in supporting successful talent mobility in the ASEAN and Asia regions, that is a key component to success for the Pillar 3 goals.  

Pillar 3: Growth and Competitiveness:

The third pillar of the ADB's ASEAN integration strategy, "Growth and Competitiveness," revolves around stimulating economic growth, enhancing regional competitiveness, and promoting innovation. It recognizes the importance of facilitating cross-border trade, investment, and connectivity to drive regional economic expansion. This pillar also emphasizes the need to invest in human capital, recognizing that a skilled and adaptable workforce is essential for sustained growth and competitiveness.

The Asia Talent Mobility Alliance (ATMA):

The Asia Talent Mobility Alliance (ATMA) is a new industry association that aligns perfectly with the objectives outlined in Pillar 3. As global markets become increasingly interconnected, talent mobility plays a critical role in driving growth and enhancing the competitiveness of both individuals and businesses. Through its work, ATMA acts as a catalyst for effective talent mobility within ASEAN and across Asia.

ATMA's Role in Supporting Pillar 3:

  • Enhancing Regional Collaboration: ATMA brings together members of the talent mobility community to facilitate collaboration and knowledge-sharing on talent mobility practices. This collaboration is vital for creating the policies and programs that enable growth and competitiveness as businesses hire across borders to gain access to a diverse pool of skilled professionals and ideas.
  • Skill Development and Innovation: By promoting talent mobility, ATMA fosters the exchange of skills, knowledge, and best practices amongst HR and Talent Management professionals. Innovation is generated by shared expertise and a community dedicated to exploring and sharing creative solutions to talent mobility issues. Through empowered HR and Talent Mobility teams, companies help ensure they have in place the required programs to support a mobile workforce which promotes skill and leadership development in multi-national companies by creating assignments designed to build organizational knowledge and a well-rounded experience.
  • Cross-Border Recruitment and Workforce Optimization: Asian companies frequently hire talent from within and outside the Region to tap into a broader talent pool or fill local needs. ATMA members specialize in helping to find that talent and helping them arrive in a new location, ready to work. This benefits the business and enhances individuals' career prospects, aligning with the goals of Pillar 3.
  • Good Governance of Talent Mobility: ATMA emphasizes good governance in talent mobility practices, promoting that the relocation of employees is carried out ethically, transparently, and in compliance with regulations. ATMA members share best practices for benefits and policies promoting sustainable talent mobility practices which build on responsible growth.

ATMA's Four Pillars of Community, Advocacy, Development, and Sustainability align with ADB's Strategy 2030 to achieve a prosperous, inclusive, resilient, and sustainable Asia and the Pacific. The effective mobility of talent is fundamental to Asia's growth and competitiveness.

Value of Mobility Policies and Benefits

For relocating employees and their families, supportive benefits provide a positive experience and can help reduce failed assignments for the company. Talent Mobility Policies include:

• Reducing or Eliminating Employee Financial Loss and Compliance Risk

  • Including dual country income taxes, preserving social benefits and retirement schemes and immigration, as well as cost-of-living adjustment and covering the cost of the move.

• Limiting Emotional Toll and Lost-Time at Work

  • Including destination support for area orientation, housing, education and settling in, household goods moving and storage, temporary living, travel, and language and cultural training.

• Retaining Talent and the Enhanced Skills Developed

  • Including pre-planning for the end of an assignment, career planning, departure, and repatriation support.

The above list is far from exhaustive. As the support for a diverse mobile workforce advances towards customized and individual support programs, it will continue to grow well into the future.

Asia Talent Mobility Alliance is a not-for-profit organization whose vision is to enhance the innovation and development of the talent mobility industry of Asia. ATMA is a member-driven and volunteer-run organization whose work is enabled by membership fees and sponsorships.

By promoting collaboration, skill development, innovation, and responsible mobility practices, ATMA contributes significantly to achieving the goals outlined in Pillar 3. As ASEAN and Asia continue to evolve, the synergy between ADB's strategy and ATMA's initiatives is poised to create a more prosperous and competitive regional landscape.

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