The IMA Asia CEO Forum and China CEO Forum have over 300 members from the world’s best-known firms. In addition, they have over 1,500 members in Asia and China Management Forums. Together with our Network Partners, we lead the region’s largest executive briefing network, incorporating over 3,000 members.
4. www.imaasia.com Page 4
Asia CEO Forum
Summary of findings
➢ No return to the ‘everyone in the office on all days’ world.
➢ Flex working important for attracting and retaining talent, though
there are concerns about reduced collaboration.
➢ 2-3 days WFH, mandatory office days, & no change in compensation.
➢ Stronger adoption of flex working in Singapore and ANZ; less
adoption in India, China, SE Asia, and North Asia.
➢ Office footprint will shrink between 8-23% in different countries with
the biggest cuts in Singapore, Taiwan, and ANZ.
➢ Flex office space will be part of the solution.
➢ Offices will be redesigned to become more collaborative.
6. www.imaasia.com Page 6
Asia CEO Forum
No returning to the pre-pandemic world–
flexible work is here to stay
➢ No returning to the pre-pandemic ‘everyone-in-office’ world for 73% companies
➢ 40% of companies will allow flexibility to employees worldwide
➢ Another third will let countries decide the degree of flexibility
𝐖𝐡𝐚𝐭 𝐢𝐬 𝐲𝐨𝐮𝐫 𝐟𝐢𝐫𝐦’𝐬 𝐠𝐥𝐨𝐛𝐚𝐥 𝐑𝐓𝐎 𝐩𝐨𝐥𝐢𝐜𝐲 𝐚𝐟𝐭𝐞𝐫 𝐫𝐞𝐬𝐭𝐫𝐢𝐜𝐭𝐢𝐨𝐧𝐬 𝐚𝐫𝐞 𝐥𝐢𝐟𝐭𝐞𝐝?
N=72
N=72
7. www.imaasia.com Page 7
Asia CEO Forum
Flexible work policies - made at HQ but
adapted for APAC
➢ Most companies have a global framework for ‘return to office’ policies
➢ But 70% of them have adapted it suit the local circumstances in Asia
𝐖𝐡𝐚𝐭 𝐢𝐬 the relationship between your global policies and Asia-Pacific policies?
N=72
8. www.imaasia.com Page 8
Asia CEO Forum
Flexible working is necessary to attract and
retain employees
➢ Ability to attract and retain employees is important for most (74% in top two)
➢ Higher productivity and lower real estate cost are relatively less important (38% in top two)
➢ Carbon footprint, a wider talent pool also mentioned. Also, ‘no choice!’
N=72
9. www.imaasia.com Page 9
Asia CEO Forum
Risks - Reduced collaboration, dilution of
company culture
➢ Reduced collaboration the biggest concern with flexible working (63% in top 2)
➢ Dilution of company culture (53%) and less effective customer interface (35%)
➢ However, loss of productivity, lack of management oversight and weakened
corporate image are not big concerns (about 17%)
➢ Grooming and onboarding of young staff also mentioned as a concern
Less effective
customer interface
N=72
10. www.imaasia.com Page 10
Asia CEO Forum
Singapore, ANZ top adopters of flexible
working; India and China lag
67%
66%
58%
52%
48% 47% 47% 47%
42%
40% 39%
37% 36% 35%
0%
10%
20%
30%
40%
50%
60%
70%
80%
Singapore NZ Australia Malaysia Indonesia Philippines Taiwan Thailand HK Japan Vietnam Korea India China
% of companies where over 50% will work remote
N=72
11. www.imaasia.com Page 11
Asia CEO Forum
Over 60% in ANZ and SG will work from home;
just 40% in North Asia
63%
61%
58%
53% 52% 52% 51%
47% 47%
45% 44%
41%
39%
37%
0%
10%
20%
30%
40%
50%
60%
70%
NZ Singapore Australia Thailand Philippines Malaysia Indonesia Taiwan Vietnam India HK Japan Korea China
% of employees working remotely
N=72
13. www.imaasia.com Page 13
Asia CEO Forum
Employees will work 2-3 days from home
➢ Over 50% will allow 2-3 days a week
➢ Over a quarter will let managers and employees negotiate
➢ Very few will allow complete choice to employees
𝐖𝐡𝐚𝐭 𝐢𝐬 likely to be the maximum number of days employees will be
allowed to work from home?
N=72
14. www.imaasia.com Page 14
Asia CEO Forum
However, employees will be expected in office
on certain days
➢ Only 18% will not require employees to return to office on certain days
➢ 60% will have office days, mostly mandated by the management
➢ 22% still undecided
Will you specify mandatory office days?
N=72
15. www.imaasia.com Page 15
Asia CEO Forum
Flexible workers will still largely be tethered to
the country
➢ This is one area where a large number (35%) are still undecided
➢ Of those who have clarity:
▪ A third will allow only in the city where the employee was hired;
▪ 38% within the country; and
▪ About a quarter will not place any restrictions.
Will you restrict where staff with flexibility can work from?
N=72
16. www.imaasia.com Page 16
Asia CEO Forum
Flexible work will not change compensation
➢ No change in compensation structure in 74% companies
➢ Salary / allowance will drop in 2% and increase in 2%
➢ Nearly a fifth undecided
Will compensation change for flexible workers?
N=72
18. www.imaasia.com Page 18
Asia CEO Forum
Expect footprint reduction and flexible
workplaces
➢ Nearly half will reduce the office footprint; 72% of them will complement it with flex
space
➢ 38% will keep the existing office space; 40% of them will also add flexible space
➢ Just 1% will add new office space
➢ Overall, 52% will use flexible space
What will be the impact of flexible working on your office space strategy?
N=72
19. www.imaasia.com Page 19
Asia CEO Forum
Offices will be redesigned to fit their new
purpose
➢ 71% will increase collaboration spaces
➢ 65% will reduce assigned seats
➢ 34% will increase recreation and wellness spaces
➢ 40% will increase the number of telephone booths
➢ No clear picture on office density
N=72
20. www.imaasia.com Page 20
Asia CEO Forum
Half or more of SG and Aust companies will
shrink their footprint
62%
50%
46% 45%
36% 36% 36%
33% 32% 31%
29%
26%
24%
22%
0%
10%
20%
30%
40%
50%
60%
70%
% of companies that will shrink office space
N=72
21. www.imaasia.com Page 21
Asia CEO Forum
7-23% reduction in office space – SG, Taiwan,
NZ, HK, and Aust lead
23%
17% 17%
15% 15%
13% 13%
12%
9% 9% 9%
7% 7% 7%
0%
5%
10%
15%
20%
25%
Singapore Taiwan NZ HK Australia Philippines Thailand Vietnam Japan Korea India China Indonesia Malaysia
Average % of office space reduction
N=72