Thursday, 6 May 2010

East Meets West

For an Irishman abroad it’s difficult to go anywhere where there is not an Irish pub to rest and recuperate. The same is true in China. However I am not sure they fully get the Irish thing yet. In my many travels there I have seen the pace of change in China continuing to accelerate.

However as international commerce roars into China, what many investing companies are not recognising is that we are blinded by the enormous population and opportunity and some are not equipping themselves for some serious challenges.

China lacks qualified talent to meet many of the demands of foreign employers. A common misperception about China is that there is a limitless pool of workers from which companies can draw. But the pool doesn’t look quite so full when a company starts searching for key people with high levels of technical expertise in a given industry, management ability, education, language skills or experience working in the global economy. As organisations have experienced in many other emerging markets, this acute talent shortage drives high attrition rates and creates an environment which makes it easy for skilled workers to hop from one job to another.

Over the next few years, global companies in China must change their HR strategies to enable them to keep pace with surging market competition and with changing employee needs and profiles. These are some thoughts from recent travels upon some priorities our clients are grappling with.
• Structuring a Total Rewards Balanced Scorecard
• Building an employer brand which fosters employee engagement
• Creating an HR function with the edge to be innovative and transactional
• Building the next generation of leaders
• Dealing with Talent Segmentation
• Developing HR with regulatory changes in mind
• Aligning engagement and productivity
• Investing in Leadership Trust

Bill Gates was quoted as saying, "The only asset that Microsoft has is human imagination." Where we deal in People Process and Innovation, this is now becoming more and more of a reality.

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