Attracting talent in emerging markets has always challenged Western MNCs
Historically, Western MNCs (or multinational companies) have enjoyed a big advantage in China: in 2007 for instance, 41% of high-skill Chinese professionals preferred working for a Western firm, and only 9% preferred a job with a domestic firm.
However, in the last few years, Western MNCs and their brands have taken a significant economic hit while the Chinese economy has grown, resulting in the Western MNCs' hiring advantage being cut in half.
"The Battle for China's Talent", a Harvard Business Review feature article from CEB, outlines:
- Insight from our multi-year study of more than 300,000 Chinese professionals;
- Best practices from Cisco Systems, Shell, and Dow Chemical for demonstrating a commitment to Chinese employee development; and
- Five strategies that Western MNCs should consider to win scarce Chinese talent.