- Buyer's Guide
Despite being the world's most populous country, filled with people who would prefer to work for foreign companies, multinational corporations operating in China are finding their businesses hindered by a pervasive talent shortage and struggling to retain their management and employees. A new white paper by Manpower Inc., a world leader in the employment services industry, examines this paradox and offers insight and answers to help multinationals improve their talent management strategies in China.
"Ninety percent of the world's top 500 multinationals have now invested in China, yet many of them are struggling to generate the sales or growth they want because of talent management challenges," said Jeffrey A. Joerres, chairman and CEO of Manpower Inc. "Recruiting the right people, retaining the best staff and developing leaders of the future are difficult tasks in any market. For foreign companies operating in
Manpower's white paper, The China Talent Paradox, offers five practical strategies for multinational corporations to embrace if they want to improve employee attraction, engagement and retention in
1) Create a learning organization
2) Appoint competent leaders
3) Establish an appropriate organization and culture for
5) Select the right people
"It is vital that organizations view these five strategies as a holistic, integrated solution," said Joerres. "Neglecting even one of the strategies will weaken the solution considerably."
These five strategies represent the core elements of Manpower's proprietary Workforce Optimization Model that is used to assist clients in recruiting and retaining permanent employees in
Joerres said, "These strategies may seem to be self-explanatory to an HR professional, but it is important to recognize what they actually mean in the work environment in
"Learning is a priority for Chinese employees because they are acutely aware of the limitations of their educational system and possess a strong desire to continuously acquire marketable skills," said Lucille Wu, managing director of Manpower
Previous Manpower research of 33,000 global employers found that vacancies at the manager and executive level are much more difficult to fill in
"To fuel the current level of growth that multinationals are experiencing in
Manpower has found that nearly 75 percent of Chinese employees would prefer to work for wholly owned foreign companies rather than joint venture companies or wholly owned Chinese companies. This is a distinct advantage for foreign multinationals competing for talent in
"In addition to the many multinationals who come to