Chinese financial institutions and other big Chinese companies have been competing more aggressively with foreign businesses for senior business executives. The competitive talent market is putting upward pressure on salaries of executives and managers. Companies that wish to succeed in the Chinese market should carefully evaluate recruiting and hiring strategies or partner with a locally connected, executive search partner with a European exposure as announcements and postings of senior executive appointments are relatively uncommon in China.
Firstly, it is very important to update the understanding of the Chinese talent structure. Generation Y and Z are quite different from Generation X regarding life style and career motivation. Furthermore, as China is huge in size, there can be observed diverse behaviors in different tier-level cities.
Secondly, a mid to long term talent development strategy is highly appreciated by candidates. Along with the employer’s strength of brand, corporate culture, market positioning strategy, also leadership style are key considerations these days.
Thirdly, the first impression counts most: whether it is at the first phone call by the recruitment agency or at the very first interview with an employer. Be serious in the communication, be respectful to each other, be transparent in sharing information. From our experience, if the interview process is done professionally, the chances of hiring best suitable candidates is much higher. To build up trust between company and candidate is fundamental.
Last but not least, it might be wise not to hire a permanent person right away. This is particularly the case where question marks come up at the local unit level regarding internal compliance issues which every company is facing sooner or later. A permanent hire would typically refrain from uncovering and resolving them but adopt them automatically in order to keep his/her work life easy. Only an interim manager will uncover and resolve hidden issues. Due to his/her unbiased view and experience for cleaning up special situations, an interim manager will restore transparency and implement tools and processes within a few months. After this clean-up and preparation-for-the-future, the time is right for hiring a permanent successor. This approach might look costly, but it is proven to be the most feasible solution in the mid- to long term for an operating subsidiary company in China.
Provided by BRAINFORCE, Martin Schneider; Owner and Ms. Frances Yao, General Manager Shanghai