HONG KONG, April 25, 2017 /PRNewswire/ -- Heidrick
& Struggles International, Inc. (NASDAQ: HSII), a premier
provider of executive search, leadership consulting and culture
shaping services worldwide, has launched its Getting
Employer Branding Right in China report to further explore
what senior talent is looking for in an increasingly competitive
market for top performers.
To read the complete report, please visit
http://www.heidrick.com/Knowledge-Center/Publication/Getting-employer-branding-right-in-China.
Heidrick & Struggles China recently conducted a survey of
151 senior executives at director level or above in mainland
China to understand how
extensively employer branding affects corporate success, and the
factors that attract them to and retain them at an
organization.
"Leaders of multinational corporations in China are finding it even more challenging to
attract the leaders they need to thrive in today's operating
environment – the 'new normal' which has been shaped by slower
economic growth, higher costs, stricter regulations, the disruptive
pressures of e-commerce and China's changing demographics," said
Linda Zhang, Partner-in-charge of
Heidrick & Struggles' Shanghai
office. "Due to the shortage of skilled workers and high
attrition rates, companies continue to cite talent as a top
concern."
When asked to pick the three most crucial factors that make an
organization a good place to work, respondents name 'high quality
of senior leadership' (57%) and 'attractive corporate culture'
(52%) higher than 'a competitive employment offer in terms of
salary and benefits' (49%). Yet, good company brand and reputation,
clear personal development and promotion path are seen as less
important factors when it comes to the pull factors.
When asked what attracts them to a company, over 90% of the
executives in the survey say that having senior leaders who are
charismatic, inspiring, credible spokespeople is very important to
their decision in joining a company. This aligns with the trend of
'CEOs as celebrities', with high-profile, charismatic executives
such as Alibaba's Jack Ma and
Baidu's Robin Li becoming synonymous
with their company's image, and inspiring employees and customers
alike.
"Our experience shows that the turnover rate of senior
executives in China is roughly
12-15%. As the competition for talent heats up, companies cannot
rely on remuneration as the only weapon for attracting and
retaining best-in-class senior leaders," said George Huang, Head of China at Heidrick & Struggles. "Most
senior level employees in China
would like to follow an inspiring leader with a strategic vision,
whether it is to achieve certain business or financial goals, or to
disrupt an industry with an emerging technology. The satisfaction
that comes from working with inspirational leaders that cultivate a
strong company culture is increasingly influencing
senior-level executives' employer decision."
When it comes to retention, the most important leadership
qualities that encourage employees to stay are that senior leaders
trust their staff, have a high level of transparency, and foster
two-way communication between management and employees.
According to the study, when asked to pick the three most
important factors for a company's structure and business model,
recognition of high achievers (99%), a friendly and collaborative
working environment (93%), and respect and encouragement for
diverse thinking and new ideas (91%) are the key building blocks
constituting a compelling corporate culture. These results are
similar to those in the Asia Pacific Consumer Markets Report
2015 – a previous Heidrick & Struggles employer
branding survey of senior executives across the Asia Pacific region – where 98% of respondents
said that diversity of thinking in the workplace is the most
important characteristic, while recognition of high achievers was
in second place at 97%.
Roughly 31% of executives surveyed say they are currently
looking for new job opportunities and hope to leave within 12 to 18
months; an additional 29% say they may leave within the next two
years if better opportunities are available. This finding suggests
that employees in China may have
less patience with a suboptimal status quo at work than employees
elsewhere in Asia. In the previous
Asia Pacific survey, just 30% said
they were considering leaving their employers, and only just over
half of this group hoped to make a move within 18 months.
The survey included senior executives from a wide range of
industries at multinational companies in China, including industrial (42%), consumer
(19%), healthcare (16%), technology (10%), financial services (5%),
professional services (3%), marketing services (2%),
education/not-for-profit (1%), and conglomerate (2%). All
respondents came from companies with more than 5,000 employees
globally, and 79% have more than 1,000 employees in China. For a majority, China accounts for more than 10% of their
company's global revenue.
About Heidrick & Struggles
Heidrick &
Struggles (NASDAQ: HSII) serves the executive talent and leadership
needs of the world's top organizations as a premier provider of
leadership consulting, culture-shaping and senior-level executive
search services. Heidrick & Struggles pioneered the profession
of executive search more than 60 years ago. Today, the firm serves
as a trusted advisor, providing integrated leadership solutions and
helping its clients change the world, one leadership team at a
time. www.heidrick.com
Media Contacts:
Karen Lau - Marketing &
Communications Manager, Asia
Pacific
+852 2103 9329, klau@heidrick.com
Alex Brown - Public Relations
Manager, Americas
+1 312 496 1871, abrown@heidrick.com
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SOURCE Heidrick & Struggles