Seoul, Wed 4 Feb 2015 – Aon Hewitt, the global talent, retirement and health solutions business of Aon plc (NYSE: AON), today announced its list of the 2015 Best Employers in Korea in an Awards Ceremony & Learning Conference that took place in Seoul. The agenda of the conference covered key insights, benchmarks and case studies and a CEO panel that explored what Best Employers do better.

Aon Hewitt’s Best Employers study was first conducted in Asia in 2001. The purpose of the program is to gain insights into companies that are creating real competitive advantage through their people, to explore what makes a workplace of choice and to identify the Best Employers in the region.

The Aon Hewitt Best Employers program is the most comprehensive study of its kind in Asia Pacific. It is run in 12 markets: China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, Singapore, Taiwan, Thailand, Australia and New Zealand. The study’s research methodology involves a rigorous process, conducted over a nine-month period that culminates in a solid, credible list of Best Employers.

Being recognized as an Aon Hewitt Best Employer means that:

1. The organization inspires strong commitment and superior performance from its people;
2. It drives business results through effective people practices; and,
3. It manages its business in ways that build long-term success and sustainability.

Ten organizations were named to the 2015 list of Best Employers in Korea, with Marriott International Korea receiving the Best of the Best recognition

The most noticeable trends that emerged in this year’s Best Employers Study were:

Business and People Challenges

• Best Employers in Korea achieve 1.75 times higher growth in income than market average.

“Best Employers clearly achieve better business results compared to market. We found that Best Employers in Korea achieve significant higher growth in their income when compared to market average, said Austin Kweon, Managing Director of Aon Hewitt in Korea. “This makes becoming a Best Employer a business agenda and not just an HR agenda”.

• Best Employers also filled 48% more openings internally compared to market level.

Employee Engagement

• Best Employers engagement score (74%) is significantly higher than market average (52%).
   
• Engagement scores in Korea have improved over the last 10 years although the 2015 engagement score did decrease by 3% to 52% from 55% in 2013.
   
• Engagement scores increase with employee seniority; there is a 17% gap in between the engagement scores of top leadership (68%) and employees (51%).
   
• Gen Y engagement is the lowest at 48%, although for Best Employers, their engagement scores are distinctly higher, at 70%, and 60% Best Employers have specific programs targeted towards Generation Y compared to 38% participant organizations.

Compelling Employer Brand

• 79% of organizations have a clearly defined employer brand. However, only 21% of CEOs and HR are aligned on its nature.
   
• Learning and Careers is the most prevalent employee value proposition for participating Korea organizations, with 63% of organizations having it amongst their top 3 descriptors.
   
• 78% of employees at Best Employers are proud to work in their company, compared to only 58% of employees at participating organizations and 72% of employees at Best Employers would recommend their company, compared to 53% at a participating companies
   
• 60% of employees at Best Employers believe their organization delivers on its promises, compared to only 28% at participating organizations.

Effective Leadership

• There is a 19% gap between the views of senior leaders and employees on ‘There is an effective process to help me identify my development needs.’ (senior leaders – 62%, employees – 43%), and a 20% gap between the views of senior leaders (67%) and employees (47%) on availability of career opportunities.
   
• 91% of participating organizations a have formal process for identifying high potentials, yet only 35% employees have positive perception on career opportunities in their organization.
   
• 70% of employees at Best Employers believe their organization offers excellent career opportunities to strong performers, compared to only 50% of employees at participating organizations.
   
• 80% Best Employers develop their leaders through mentoring programs compared to 67% participant average.

High Performance Culture

• 90% Best Employers expect their people managers to coach and develop their teams, compared to 67% participants
   
• Only 4 in 10 employees feel they receive appropriate recognition (beyond pay and benefits) for their contribution, compared to 64% at Best Employers.
   
• Only 67% organizations provide feedback to their managers on how their leadership style influences their team, compared to 80% at Best Employers
   
• Managers at Best Employers (71%) are perceived to be more effective in meeting employee needs vs 59% at participating organizations.

While the Best Employers study recognizes organizations that display standards of excellence, the journey to get there is one that Aon Hewitt recommends for every organization to embark upon.

“For organizations that don’t make it to the Best Employers list, but are aspiring to become Best Employers, we want to reinforce that this is a journey. Becoming a Best Employer doesn’t happen overnight, said Diane Lee, Aon Hewitt Best Employers Korea Project Manager. “It is possible for everyone to become a Best Employer, if you’ve articulated the destination you want to head to and have planned your journey wisely.”

Participation in the program brings a wide range of benefits for organizations, such as finding out how employees perceive and rate their employer, the reasons why they are attracted to certain employer brands, and the type of organizational culture they value sufficiently to “stay and strive”.  The study also provides a benchmark against company competitors in the market. Participating organizations gain access to Aon Hewitt’s latest market research insights, along with the best and most innovative people practices of Best Employers.

To find out more about the Aon Hewitt Best Employers Asia 2015 Study, please visit http://www.bestemployersasia.com  

To find out more about the Aon Hewitt Best Employers - Korea 2015 Awards or to inquire about the next edition of the Best Employers program starting in soon, please contact Diane Lee, Best Employers Korea Project Manager at diane.lee.2@aonhewitt.com  .

Sign up for News Alerts:  http://aon.mediaroom.com/index.php?s=58
Follow Aon Hewitt on Twitter @AonHewittAPAC

About Aon Hewitt

Aon Hewitt empowers organizations and individuals to secure a better future through innovative talent, retirement and health solutions. We advise, design and execute a wide range of solutions that enable clients to cultivate talent to drive organizational and personal performance and growth, navigate retirement risk while providing new levels of financial security, and redefine health solutions for greater choice, affordability and wellness.  Aon Hewitt is the global leader in human resource solutions, with over 30,000 professionals in 90 countries serving more than 20,000 clients worldwide.  For more information on Aon Hewitt, please visit www.aonhewitt.com.

About Aon

Aon plc (NYSE:AON) is the leading global provider of risk management, insurance and reinsurance brokerage, and human resources solutions and outsourcing services. Through its more than 65,000 colleagues worldwide, Aon unites to empower results for clients in over 120 countries via innovative and effective risk and people solutions and through industry-leading global resources and technical expertise. Aon has been named repeatedly as the world’s best broker, best insurance intermediary, reinsurance intermediary, captives manager and best employee benefits consulting firm by multiple industry sources. Visit www.aon.com for more information on Aon and www.aon.com/manchesterunited to learn about Aon’s global partnership with Manchester United.

# # #

Media Contacts:
Clara Park
+82.2.399.3600
clara.park@aonhewitt.com

Romy Serfaty
+852.2917.7952
romy.serfaty@aonhewitt.com