China spending big for skilled labor# Returnee - 海归
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http://www.marketwatch.com/story/china-starving-for-skilled-lab
ECONOMIC REPORT
March 8, 2011, 8:53 p.m. EST
China spending big for skilled labor, recruiters say
By Chris Oliver, MarketWatch
Reuters
Shanghai抯 famous waterfront Bund.
HONG KONG (MarketWatch) Headhunters recruiting in China say they抳e rarely
seen busier times.
Domestic and multinational companies seeking to bolster staff as part of
bold expansion plans in the Chinese market have sparked frenzied bidding to
attract qualified personnel across a broad ranges of industries, recruitment
experts say.
Candidates with the right level of education and skills are typically seeing
inducement offers that include salary increases of 40% to 50%, in addition
to enhanced responsibility.
揑 think China is the hardest place right now to secure talent and to retain
talent,said Christine Greybe, president of recruitment firm DHR
International in Hong Kong.
She estimates that about 30% of candidates who plan on leaving their
companies receive counteroffers which match or even exceed the rival offer,
as companies grow wary of the loss of personnel through poaching.
揂 lot of attention is going towards finding ways to keep talent, which is
very unusual to anything we saw before,Greybe said.
The hiring drive reflects ambitious plans among multinationals to secure
opportunities in China. In some cases, companies are seeking to double or
even triple managerial staff within a few years, cramming growth that would
normally happen in a 10-year window, experts say.
揟here抯 been a redoubling of growth imperative of by multinationals trying
to head into Asia, because companies are finding it hard to grow in the U.S.
and Europe,said Mike Game, the Hong Kong-based Asia chief executive
officer for multinational recruitment company Hudson.
China growing its state media
China's state media are expanding aggressively to compete with private
Internet companies.
Mainland Chinese companies are also offering more competitive wages for
their senior executives, shrinking what抯 been traditionally a gap with
compensation packages offered by multinationals.
In some cases, Chinese companies are now paying salaries and packages that
meet or beat those offered by Western companies, says Greybe, adding
executives in technology companies such as Chinese Internet giant Tencent
Holdings Ltd. (THE:HK:700) (PINK:TCTZF) look more to stock options and
other forms of compensation outside of salaries.
The place to be
揅hina is the place people want to be. They are not interested in a job in
the U.S. in the way they may have been two or three years ago,Greybe said,
referring to China-born professionals.
Chinese companies accounted for 54 of those in the Fortune 500 list in 2010,
up from 35 in 2008.
Greybe said that some clients take the view that careers spent at home could
pay bigger dividends, given China抯 rising status in the global economy.
In fact, leading Chinese firms are now more sought after than multinationals
among mainland engineering graduates born between 1980 and 1990, according
data compiled by recruitment company AonHewitt.
China Mobile Ltd. (NYSE:CHL) (THE:HK:941) topped the list among recent
graduates in a 2010 survey as the most desirable company to work for,
maintaining the ranking it held in a 2008 survey.
Alibaba.com Ltd. (PINK:ALBCF) (THE:HK:1688) and Haier Electronics Co. (
NYSE:HK) (PINK:HRELY) ranked respectively as the next preferred choices,
displacing Google Inc. (NASDAQ:GOOG) and Proctor & Gamble Co (NYSE:PG) ,
which held those positions in the 2008 survey.
The jobs squeeze is also spilling over to service-center hubs outside
mainland China, including Hong Kong and Singapore.
Reuters
Hong Kong's financial district
Lawyers with the right educational profile and job experience can expect to
receive a half dozen offers within a few weeks, said Denvy Lo, a senior
consultant with legal recruitment specialists Laurence Simons.
It抯 fairly standard to expect pay rises of 30% to 40% when jumping firms,
she said, adding that the frenzied recruiting conditions are reminiscent of
the boom times of 2007.
揟hey will look around to see who can offer them the most and the best
package,Lo said.
Among those most in demand are China-born candidates who completed law
degrees in the U.S. and have a few yearsexperience with multinational
companies in Asia, Lo said.
Copyright 2011 MarketWatch, Inc. All rights reserved.
By using this site, you agree to the Terms of Service and Privacy Policy.
Intraday Data provided by Thomson Reuters and subject to terms of use.
Historical and current end-of-day data provided by Thomson Reuters. Intraday
data delayed per exchange requirements. Dow Jones Indexes (SM) from Dow
Jones & Company, Inc. All quotes are in local exchange time. Real time last
sale data provided by NASDAQ. More information on NASDAQ traded symbols and
their current financial status. Intraday data delayed 15 minutes for Nasdaq,
and 20 minutes for other exchanges. Dow Jones Indexes(SM) from Dow Jones &
Company, Inc. SEHK intraday data is provided by Comstock and is at least 60-
minutes delayed. All quotes are in local exchange time.
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ECONOMIC REPORT
March 8, 2011, 8:53 p.m. EST
China spending big for skilled labor, recruiters say
By Chris Oliver, MarketWatch
Reuters
Shanghai抯 famous waterfront Bund.
HONG KONG (MarketWatch) Headhunters recruiting in China say they抳e rarely
seen busier times.
Domestic and multinational companies seeking to bolster staff as part of
bold expansion plans in the Chinese market have sparked frenzied bidding to
attract qualified personnel across a broad ranges of industries, recruitment
experts say.
Candidates with the right level of education and skills are typically seeing
inducement offers that include salary increases of 40% to 50%, in addition
to enhanced responsibility.
揑 think China is the hardest place right now to secure talent and to retain
talent,said Christine Greybe, president of recruitment firm DHR
International in Hong Kong.
She estimates that about 30% of candidates who plan on leaving their
companies receive counteroffers which match or even exceed the rival offer,
as companies grow wary of the loss of personnel through poaching.
揂 lot of attention is going towards finding ways to keep talent, which is
very unusual to anything we saw before,Greybe said.
The hiring drive reflects ambitious plans among multinationals to secure
opportunities in China. In some cases, companies are seeking to double or
even triple managerial staff within a few years, cramming growth that would
normally happen in a 10-year window, experts say.
揟here抯 been a redoubling of growth imperative of by multinationals trying
to head into Asia, because companies are finding it hard to grow in the U.S.
and Europe,said Mike Game, the Hong Kong-based Asia chief executive
officer for multinational recruitment company Hudson.
China growing its state media
China's state media are expanding aggressively to compete with private
Internet companies.
Mainland Chinese companies are also offering more competitive wages for
their senior executives, shrinking what抯 been traditionally a gap with
compensation packages offered by multinationals.
In some cases, Chinese companies are now paying salaries and packages that
meet or beat those offered by Western companies, says Greybe, adding
executives in technology companies such as Chinese Internet giant Tencent
Holdings Ltd. (THE:HK:700) (PINK:TCTZF) look more to stock options and
other forms of compensation outside of salaries.
The place to be
揅hina is the place people want to be. They are not interested in a job in
the U.S. in the way they may have been two or three years ago,Greybe said,
referring to China-born professionals.
Chinese companies accounted for 54 of those in the Fortune 500 list in 2010,
up from 35 in 2008.
Greybe said that some clients take the view that careers spent at home could
pay bigger dividends, given China抯 rising status in the global economy.
In fact, leading Chinese firms are now more sought after than multinationals
among mainland engineering graduates born between 1980 and 1990, according
data compiled by recruitment company AonHewitt.
China Mobile Ltd. (NYSE:CHL) (THE:HK:941) topped the list among recent
graduates in a 2010 survey as the most desirable company to work for,
maintaining the ranking it held in a 2008 survey.
Alibaba.com Ltd. (PINK:ALBCF) (THE:HK:1688) and Haier Electronics Co. (
NYSE:HK) (PINK:HRELY) ranked respectively as the next preferred choices,
displacing Google Inc. (NASDAQ:GOOG) and Proctor & Gamble Co (NYSE:PG) ,
which held those positions in the 2008 survey.
The jobs squeeze is also spilling over to service-center hubs outside
mainland China, including Hong Kong and Singapore.
Reuters
Hong Kong's financial district
Lawyers with the right educational profile and job experience can expect to
receive a half dozen offers within a few weeks, said Denvy Lo, a senior
consultant with legal recruitment specialists Laurence Simons.
It抯 fairly standard to expect pay rises of 30% to 40% when jumping firms,
she said, adding that the frenzied recruiting conditions are reminiscent of
the boom times of 2007.
揟hey will look around to see who can offer them the most and the best
package,Lo said.
Among those most in demand are China-born candidates who completed law
degrees in the U.S. and have a few yearsexperience with multinational
companies in Asia, Lo said.
Copyright 2011 MarketWatch, Inc. All rights reserved.
By using this site, you agree to the Terms of Service and Privacy Policy.
Intraday Data provided by Thomson Reuters and subject to terms of use.
Historical and current end-of-day data provided by Thomson Reuters. Intraday
data delayed per exchange requirements. Dow Jones Indexes (SM) from Dow
Jones & Company, Inc. All quotes are in local exchange time. Real time last
sale data provided by NASDAQ. More information on NASDAQ traded symbols and
their current financial status. Intraday data delayed 15 minutes for Nasdaq,
and 20 minutes for other exchanges. Dow Jones Indexes(SM) from Dow Jones &
Company, Inc. SEHK intraday data is provided by Comstock and is at least 60-
minutes delayed. All quotes are in local exchange time.
Email address or display name
Password
Remember me
Forgot password?