ARLINGTON, Va., March 30, 2011 /PRNewswire/ -- The Corporate
Executive Board (CEB) (NYSE: EXBD) today announced research
findings that indicate Chinese companies are closing the preference
gap with Western multinationals in the hunt to recruit highly
skilled Chinese workers. China's
continued economic growth despite the global recession, as well as
more compelling career opportunities, are viewed by recruits as
good reasons to engage with domestic companies rather than those
based in the West. In an effort to cement their leadership
position, top Western multinationals are re-evaluating their
recruiting strategies to maintain their edge.
"Our Western multinational clients are increasingly concerned
about their ability to attract and retain highly skilled Chinese
talent," said Conrad Schmidt,
executive director of CEB's Corporate Leadership Council.
"Many say their Chinese talent is being aggressively
recruited and employees get calls daily. What's more,
multinationals are hard pressed to fend off the domestic attack,
since the benefits that have been historically most attractive to
this talent pool are no longer unique. In fact, many Chinese
employers can match or beat them."
The shrinking gap between Chinese and Western companies is
significant. Chinese companies are essentially viewed as equal to
multinational brands in terms of employment preference. While
Western brands were trimming fat, pulling back on recruiting
efforts and, in many cases, laying off employees, Chinese companies
continued to hire and began providing many of the advantages
multinationals had become known for—development opportunities
within a fast-growing company and quick promotions—from the comfort
of home.
Further, 40 percent of the Chinese employees at multinational
companies surveyed indicated that desirable senior-level positions
within those multinational companies are, and will continue to be,
held by Western expatriates. This supports a perception held by
many Chinese workers that a "glass ceiling" exists for them at
Western multinational companies because expatriates in leadership
roles are preferred. These concerns, coupled with the spirit
of national pride employees feel when working for a domestic
employer, put Western companies trying to compete for talent in a
precarious position.
CEB has identified five best-practice strategies that leading
Western multinationals are employing to maintain a competitive edge
in recruiting efforts of Chinese nationals. In advising
Western multinationals around the re-evaluation of their Chinese
talent acquisition strategies, CEB recommends starting with a
strong understanding of these five areas:
- Reinvigorating Brand Perception: focus on communicating
the long-term stability and future prospects of your organization,
your commitment to operating and investing in the Chinese
marketplace and your emphasis on individual employee
development.
- Rethinking Relocation Policies: create positions that
address the increasing desire of Chinese workers to stay in
China while advancing their
careers.
- Articulating Career Pathing: demonstrate the benefits of
a career within your organization. Walk recruits through
different options for their development to ensure they can see
themselves engaged with the company over the long term and to
debunk the myth of the "glass ceiling."
- Defining clear "Counter-Strategies" for compensation: be
smart about pay. While domestic employers will likely lure
top Chinese talent away by offering huge salary increases, money is
not the only factor. Determine how much you are willing to
invest financially to retain employees, but also consider how best
to position other attributes of the company that make it an
attractive place to work.
- Establishing Local Presence & Relationships: by
establishing strong relationships with local suppliers, partners
and community organizations, you can build a quasi-local brand that
will be respected by Chinese employees and potentially perceived as
more domestic in nature.
While the rise of Chinese companies may be temporary, it may
well prevent Western multinationals from recruiting
effectively. Companies vying for talent should be aware of,
and proactive about, the emerging trend. They should also be
prepared to invest more and fight harder to acquire and retain
talent.
To learn more about China's talent market or about how your
company can apply effective global talent management strategies in
the midst of shifting employee preference, visit
http://www.executiveboard.com/human-resources/index.html
About the Corporate Executive Board
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The Corporate Executive Board provides customers with the
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www.exbd.com.
SOURCE Corporate Executive Board