Post on 25-Jun-2015
transcript
2011: muddle through the heightened financial uncertainty
• Global economic growth
pace slowed down in
2011.
• The risk of renewed
recession remains
uncomfortably high, with
European debt contagion
carries the threat.
• It would be hard to avoid
big knock-on effects in
most of the EM universe if
the US and Europe both
sink into recession
Real GDP growth rate
2011: muddle through the heightened financial uncertainty
• Global economic growth
pace slowed down in
2011.
• The risk of renewed
recession remains
uncomfortably high, with
European debt contagion
carries the threat.
• It would be hard to avoid
big knock-on effects in
most of the EM universe if
the US and Europe both
sink into recession
Real GDP growth rate
Source: Credit Suisse 2011
China economy: unlikely to get into a hard land scenario
• The instability of external and domestic
economic environment is increasing and export
growth may soften towards the mid-single digits
in the coming months.
• The domestic economy has been dragged by
two major factors—slowing infrastructure
investment and financial distress among the
SMEs.
• Continue to cope with the pressure brought by
inflation
• The economy pressed for the acceleration in
economic restructuring
• The structure of consumption is changing.
• Housing consumption
• Automobile consumption
Source˖ Hay Group 2011 Total Remuneration Survey
Voluntary turnover rates in recent years
Chinese companies increased Head-Counts by 10% this year
• The average of new employees portion (including replacement) across all
industry in China is 29.8% this year, with pharmaceutical, high-tech and energy
as the top 3.
• Energy and real estate industry have lower rate of YTD recruitment completion.
New Employee Rate (Planned)Completion of Recruitment Plan YTD
Source: HayGroup China 2011 Industry Study
Increased job opportunities are largely contributed by POEs
• Companies in Middle and South China
have the biggest pressure to recruit talents
compared with other regions.
New Employee Rate (Planned)Completion of Recruitment YTD
Source: HayGroup China 2011 Industry Study
The talent war of the ‘three kingdoms’
Defend Attack New Hire Existing
SOE•Top talents•Top fresh graduates
•Top team building•Successor planning
•Multi-career path
POE
•Stars in the market•High-end technicians
•Talents from benchmark co.
•Promote young talents
•More job responsibility
•Company college
MNC
•Scarce talents•Replacement hire•Top fresh graduates
•Career development program
•Promote from within
•Employer branding
Now
Future
Most difficult to locate R&D talents in the market
• Sales-related positions outnumber others across industries, with R&D
followed closely.
• Chinese companies find it most difficult to fill in their R&D positions, due to
fast growth and increasing voluntary turnover rate.
Source: HayGroup China 2011 Industry Study
Finance and Real Estate have higher salary median number
The salary distribution
among industries is listed
on the right. The top 3
industries were Finance
(71,012), Real Estate
(69,407), and
Telecommunications
(61,940).
Industries Median annual salary (CNY)
High Technology 51,000~62,000
Manufacturing 50,000
Automotive 56,000
Consumer Products 54,000~57,000
Real Estate 53,000~69,000
Traditional Service 38,000~45,000
Morden Service 47,000~54,000
Finance 71,000
Pharmaceutical 58,000
Energy 59,000
Source: HayGroup China 2011 Industry Study
Entry level pay 2011: Management Trainees
Entry Level Salary (CNY)
Degree Bachelor Master PhD
P90 84,640 104,520 137,800
Q3 63,050 85,000 129,650
Median 43,225 62,400 117,000
Q1 30,900 48,000 104,000
P10 27,984 36,000 88,240
Average 50,070 69,305 115,519
Source: HayGroup China 2011 Industry Study
Focus on Hai-Gui (returned students): a spot survey result
• Spot Survey conducted by
HayGroup China and partner in
early 2011. Total 792 samples,
• 59% without work exp.
• 18.2% from UK, 31.3% US.
• Master degree 53%.
• Major in Biz or Eco. 48%
• Overall, Hai-Gui’s enjoy 27%
premium in starting salary
compared with their domestic
peers.
• 71% of respondents reported to
have got one or more offers within
3 months in China
• 24% of them are now working for
financial sectors
27%PREMIUM
71%IN 3MONTHS
792SAMPLES
23%IN FINANCE
Source: HayGroup China Spot Survey
SWOT of UK Hai-Gui from Chinese recruiter’s perspective
•Language
skills
•Know-how
•Cross-cultural
understanding
•Out-of-box
thinking
S W
O T
•Expectation
•Local
understanding
•Adaptability to
tough working
environment
•Fast diploma
•Increasing
demand of
international
perspectives
•Local education
quality catching
up
•Diploma
scandals
Piece of advice for students
• Think through and identify your own focus
(industries, functions and etc)
• Lower your expectations, as well as your parents’
• Don’t expect for a quick ROI, what you
experienced is invaluable for life
• Career is a marathon: don’t worry too much
about the starting level and salary
• Listen to the CALLING inside
Leverage
the
Resources
Thank you!
China economy: unlikely to get into a hard land scenario
• The instability of external and domestic
economic environment is increasing and export
growth may soften towards the mid-single digits
in the coming months.
• The domestic economy has been dragged by
two major factors—slowing infrastructure
investment and financial distress among the
SMEs.
• Continue to cope with the pressure brought by
inflation
• The economy pressed for the acceleration in
economic restructuring
• The structure of consumption is changing.
• Housing consumption
• Automobile consumption
Chinese companies increased Head-Counts by 30% this year
• The average of new employees portion (excluding replacement) across all
industry in China is 29.8% this year, with pharmaceutical, high-tech and energy
• Energy and real estate industry have lower rate of YTD recruitment completion.
Increased job opportunities are largely contributed by POEs
• Companies in Middle and South China
have the biggest pressure to recruit talents
compared with other regions.
Most difficult to locate R&D talents in the market
• Sales-related positions outnumber others across industries, with R&D
followed closely.
• Chinese companies find it most difficult to fill in their R&D positions, due to
fast growth and increasing voluntary turnover rate.
Finance and Real Estate have higher salary median number
The salary distribution
among industries is listed
on the right. The top 3
industries were Finance
(71,012), Real Estate
(69,407), and
Telecommunications
(61,940).
IndustryThe median annual salary in the market
(RMB)
High Technology 51,000~62,000
Manufacturing 50,000
Automotive 56,000
Consumer Products 54,000~57,000
Real Estate 53,000~69,000
Traditional Service 38,000~45,000
Morden Service 47,000~54,000
Finance 71,000
Pharmaceutical 58,000
Energy 59,000
Focus on Hai-Gui (returned students): a spot survey result
• Spot Survey conducted by
HayGroup China and partner in
early 2011. Total 792 samples,
• 59% without work exp.
• 18.2% from UK, 27.3% US.
• Master degree 53%.
• Major in Biz or Eco. 48%
• Overall, Hai-Gui’s enjoy 27%
premium in starting salary
compared with their domestic
peers.
• 71% of respondents reported to
have got one or more offers within
3 month.
• 24% of them are now working for
financial sectors
27%PREMIUM
71%IN 3MONTHS
792SAMPLES
23%IN FINANCE
SWOT of UK Hai-Gui from Chinese recruiter’s perspective
•Language
skills
•Know-how
•Cross-cultural
understanding
•Out-of-box
thinking
S W
O T
•Expectation
•Local
understanding
•Adaptability to
tough working
environment
•Fast diploma
•Increasing
demand of
international
perspectives
•Local education
quality catching
up
•Diploma
scandals
Piece of advice for students
• Think through and identify your own focus
(industries, functions and etc)
• Lower your expectations, as well as your parents’
• Don’t expect for a quick ROI, what you
experienced is invaluable for life
• Career is a marathon: don’t worry too much
about the starting level and salary
• Listen to the CALLING inside
Leverage
the
Resources
Thank you!