This is an essay which was posted on the American Chamber of Commerce in the Peoples Republic of China website. It was written by Frank Gallo, PhD, who is the the Beijing Director of the Hewitt Asia Leadership Center. The full article describes the troubles that companies have in retaining and managing local Chinese talent within their companies operating in China.
Managing, developing and retaining key talent is the number one HR issue in China. Companies that do this well have better financial returns than those who do it poorly. This is especially true when trying to find individuals who can lead the organization. Seasoned managerial and leadership talent are scarce in China – so having a defined plan to do this well is imperative.
In a survey of 150 companies in China conducted in the fall of 2005 by Hewitt Associates, 95% of companies indicated that acquiring, retaining and managing leadership talent in China was necessary for successful business in the future. More than half of these companies indicated that this was “critical” and currently a restrictor to growth. Sadly, nearly 75% of surveyed companies said that their companies were not effective at developing leaders. In fact, only 29% of respondents were satisfied with their executive development programs.
To view the entire article at its original location click on the title of this post.
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