The role of HR has evolved over time from recruitment to engagement followed by retention and so much more. The introduction of technology and a deeper understanding of employees has helped HR evolve into what it is today.
But the question remains, how much more can HR do? That’s why we wanted to speak to Terrence Yong, VP and General Manager of APAC of Visier, the globally recognised leader in people analytics and workforce solutions for people-powered businesses. The company recently opened its regional headquarters in Singapore to officially mark its expansion into the Asia Pacific region. Visier also announced a significant customer win in the region with 7-Eleven, Malaysia’s largest convenience store chain.
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Visier’s expansion in Singapore and Malaysia hopes to help grow the HR tech landscape in the country and region, as Singapore has one of the best education systems in the world and a talented pool of individuals. Besides 7-11 in Malaysia, Visier is currently supporting global brands such as Micron and NetApp’s employee retention and engagement efforts in Singapore. Visier, founded in 2010 and headquartered in Vancouver, BC, has worked with over 25,000 customers in 75 countries worldwide, including Ford, Bridgestone and eBay.
Congrats on the launch. Could you share a bit more about Visier?
Thank you! The team and I are excited about our launch into the APAC region with Singapore being our regional headquarters. Landing 7-Eleven Malaysia as a client is definitely a great start to our expansion within the region. Founded in 2010, in Vancouver, Visier is a globally recognised leader in people analytics and workforce solutions for people-powered businesses. Essentially, we help businesses looking to elevate their workforce to drive efficiency and productivity within the organisation by making people analytics simple. Currently, we have worked with over 25,000 clients in 75 countries around the world including enterprises such as Bridgestone, Sonos, Ford, eBay and many more.
We do not believe in a one-size-fits-all solution and hence, we offer many products and solutions to organisations that come with a unique pain point. One of the solutions we pride ourselves on is the Visier People Cloud. We like to consider it the third wave of people analytics where we connect directly to the organisation’s source system, and consolidate and analyse all data – providing a unified information source for organisations to make better data-driven decisions.
To better help organisations throughout their journey of developing the best workforce, we also developed the Visier People®: Essentials. That is, a single people analytics package that accounts for the HR challenges companies might face, from talent acquisition to retention and beyond. Especially with IDC analysis observing a 293% five-year ROI, Visier offers a cost-effective solution for organisations that are keen to drive transformational impact.
7-11 is a major achievement due to its size. What Visier solutions are they using and how will it benefit their business?
7-Eleven Malaysia is currently using Visier People®: Essentials as a solution. As the single largest convenience store chain in Malaysia with more than 2,400 stores nationwide, a powerful people analytics package is essential in helping them solve their most critical workforce and business challenges. The package delivers a guided, turnkey experience that includes not just software, but also professional services and coaching on the best practices that will help organisations realise undeniable business value remarkably quickly. The capabilities included in the package are based on our experience having worked with 25,000 customers, so organisations can rest assured that only the best advice and solutions are given to them. The package accounts for important areas for a foundational HR practice such as headcount and movement, turnover & retention, diversity and inclusion, and workforce cost.
For instance, with the Visier People®: Essentials package, you can examine what’s driving turnover in your organisation and even identify specific employees who may be at risk of resigning. This insight will help HR managers take targeted, data-driven action, which will result in better efficiencies and improved customer experience.
What are some of the gaps in the HRtech or HR market in Southeast Asia that you are looking to plug?
In recent years, we are seeing a massive development in the digital and tech landscape within the SEA region and they are expected to continue to do so, especially with the support from the respective governments. The HR technology market in Asia Pacific is expected to grow at a CAGR of 9.1% from 2023 to 2028, reaching US$ 9.7M by 2028. However, with the lack of tech talent currently within the region, the need for organisations to invest heavily in HR solutions in today’s employee-first landscape is especially crucial. As such, there is a growing demand for HR solutions that can help organisations manage their talent, payroll, performance, workforce and recruitment process more efficiently and effectively.
Singapore, in particular, has one of the best education systems in the world that naturally nurtures some of the best talents in the world. It is hence an undeniable fact that organisations looking to strive within the nation should constantly remain attractive when it comes to attracting, retaining and training talent. That is why we chose Singapore to be our regional headquarters within the region.
Which markets in Southeast Asia have the most potential for Visier?
For now, we definitely see potential in Singapore and Malaysia. Hence, we decided to focus on expanding our launch in Southeast Asia in Singapore and Malaysia. Otherwise, we also believe Australia is another market with a huge potential for Visier in SEA.
What’s next for Visier?
With our recent launch in Singapore and Malaysia, we are looking to continue to grow our footprint with new logos within the region. Additionally, we hope the launch will enable us to better support our existing clients that are based in Asia, such as Micron and NetApp. A project that we will announce more about in due course is the development of Visier’s Research & Development Centre to work specifically on Asia’s use cases to develop more relevant insights and add more value to our clients and the HR industry in Asia.