Thursday, June 7, 2007

Local Hire

This was a recent article posted by Justin Chan, on the American Chamber of Commerce in the People's Republic of China website. His article goes into detail describing the problems Multinational Companies are having with recruiting local talent.

China’s demand for highly skilled professionals and executives is far outstripping supply, placing a premium on attracting and retaining expatriates. As a result, the spotlight on compensation and benefits (C&B) programs is shining brighter than ever.

As global employment firm Manpower reports in its 2006 white paper The China Talent Paradox, “China lacks a well-established talent pool of mid- and top-level leadership which is hampering the economic growth of Chinese and foreign-invested businesses.” To fill this void, businesses operating in China have long turned to expatriate talent, bringing in management resources from overseas – a trend that will continue in 2007, with expatriate numbers expected to increase. But as businesses become established in China, many are looking at locally hired expatriates and PRC returnees to lower costs, continuing a shift toward localizing compensation packages for expatriates in China.

To view the entire article at its original location click on the title of this post.

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