China Talent Trends
While China is still moving to a growth economy, their old world economy of raw material production and low cost manufacturing is still thriving. That said, the low wages traditionally associated with manufacturing and raw materials have increased and wages in China are now on par with Europe.
Consistent with the global trend, Chinese workers perceived the labor market as favorable to them and are optimistic about job opportunities. Additionally, both employees’ intent to stay and their willingness to go above and beyond are low among the workforce – nearly 10 percent below the global average. Ultimately, Chinese workers believe that there will be new opportunities available to them if and when they decide to jump ship.
Employers looking to keep their top talent need to evaluate their Employee Value Proposition to ensure it delivers on what matters most. Compensation ranks first as the reason Chinese employees decide to take or leave a job, however, looking further down the list, opportunities for growth and career development are also important to workers. Organizations must utilize their EVP to communicate their offerings in these areas and then deliver on their promises.