The unexpected changes in employment law in APAC in 2024, such as the cost-of-living crisis and economic challenges, have presented multiple opportunities for employers in APAC to adapt and innovate. With a cooling job market, there’s a chance to reassess recruitment strategies and invest in upskilling current employees. This shift can lead to a more competitive and skilled workforce, prepared to tackle the evolving demands of the global economy, necessitating the implementation of cost-cutting measures, such as redundancies.
Amidst these changes, employers should anticipate a surge in employee grievances and other workforce issues. It is imperative to have formal procedures in place to promptly address employee concerns. Increased scrutiny of performance in challenging environments necessitates proactive management of long-term sickness and capability issues. Implementing fair redundancy procedures, especially for larger-scale reductions, is vital to complying with collective consultation requirements. Equally crucial is the preparation of HR teams and managers through updated training and support to confidently handle appeals and challenges, thereby minimizing litigation risks.
Employers should take note that even though some of the changes mentioned will not take effect in the next few months, it’s important not to postpone considering these matters. Companies will need to develop strategies to address these changes. This is especially crucial for legislative changes that involve reporting requirements. They will need to plan how to gather and report the necessary data and may have to hire additional staff for these purposes.
The edition Employment Law 2024 showcases Metropolitan Bank and Trust Company. The edition also features interviews with industry leaders, providing insights into the latest developments and trends in the employment law sector. Experts such as Shaukhi Hashim, Director of Human Resources at The RuMa Hotel and Residences, and Mahvish Zaman, Senior Vice President of HR and Organization at FERRAGAMO, share their perspectives on industry challenges and emerging trends. We hope these valuable insights from industry leaders featured in this edition will assist you in making informed decisions for your businesses.
