The global economic downturn we’re in will have long-term consequences for employment and consequently recruiting. The world is seeing the biggest increase in unemployment in decades. Employment is a consequential indicator of problems in the wider economy, so unemployment will continue to rise even if economies start to recover today. The consensus estimate among economists is that in the developed world average unemployment will exceed 10% before the end of 2010.
Staff turnover is costly for any company.Sadly, some departures just cannot be helped – some people will want to take a new career track whilst others will simply get an offer that is too good to refuse. However, every company needs to keep these cases to a minimum. One of the best ways to do this is to hire right and to ensure the people you bring on board are a good fit for your organisation. Let me share some of my experiences in the recruitment field to show you how you can hire right! Specifically, let me describe the hiring process I use to ensure that I find the best talent for my organisation.
How you can use technology as a key recruitment tool
After graduation, Chen Yan Long sent almost 300 application etters to companies in Shanghai, but only received 5 replies. "I was depressed", says Chen. "I didn't know how I could improve, because very few companies contacted me to give me an official rejection." Yuan Yuan, another ‘fresh' employee, says that less that 10% of companies replied to her applications. She developed a cynical response to this, stating that "this always happens in China". Chen and Yuan, like millions of Chinese graduates are "forgotten". This is partly because of the huge workload required to send official rejection e-mails or make phone calls, but also because most China based multinationals are not making the most of the technology available to them.
Back in the days of the Han dynasty, and for centuries after, to successfully become an imperial official, candidates had to go through a gruelling examination system. This system worked fantastically well as a method of identifying the most talented young scholars from across China. After they were selected, these scholars would then develop and progress through the imperial ranks, perhaps even one day advising the emperor himself. This system may now be a relic of China's ancient past, but there are some valuable lessons we could learn from it.
China is currently experiencing a level of growth and development the likes of which we have never before seen. As the world's largest population transitions towards an open market economy, we are confronted by a myriad of opportunities and challenges on a daily basis, at all organisational levels. Local and multinational companies are racing to establish a foothold in the Chinese market and secure their place in what, over the next 25 years, will become the world's largest economy. Ironically, given its 1.3 billion inhabitants, one of the most perplexing challenges facing companies in China is the undersupply of qualified and capable talent to drive this growth into the next decade. Dubbed the ‘War for Talent', HR professionals China-wide are struggling with staff acquisition and retention as employees make excessive demands and job-hop from position to position at unsettling rates. In an effort to uncover some answers to the problematic question of ‘how do I attract and retain the best staff?' I spoke to the managing directors of 4 of China's leading recruitment firms.
In the last issue of Network HR, Allan Nee of Baode Law in Tianjin wrote a detailed and insightful article about the ways in which your organisation needs to adapt to China's new Labour Laws. Allan offered a myriad of fantastic advice. However, there was one factor he mentioned that really captured my attention - transparency.Read More
Benefits
The Power of Acknowledgement
he seeds of this article were sewn as I put together the last edition of Network HR. First, as I edited the Training & Development section, I read the following prophetic words from Jennifer Peterson, "If you want your customers to feel cared for, you must care for the employees that serve them." This started me musing about the way organisations across China treat employees.Read More
Training
Synchronicity for Success
A single droplet of sweat trickled down my neck as the glowing amber sun beat down on us. I glanced out of the corner of my eye and saw our competitors lined up alongside us. It was the moment we had been preparing for over the last 5 years. Our goal was crystal clear and I had visualised this very occasion countless times.Read More
Recuitment
War, what is it good for?
I believe I can bring the War for Talent to a peaceful end. I came to this realisation two
months ago after I was invited to present at the ‘Corporate Travel and Technology
World' conference in Shanghai. The topic, "Selecting Potential Leaders and Turning a Company from Good to Great", was
provided some months earlier, giving me time to source opinions from
around China. Read More
In the last issue of Network HR, Allan Nee of Baode Law in Tianjin wrote a detailed and insightful article about the ways in which your organisation needs to adapt to China's new Labour Laws. Allan offered a myriad of fantastic advice. However, there was one factor he mentioned that really captured my attention - transparency.Read More
he seeds of this article were sewn as I put together the last edition of Network HR. First, as I edited the Training & Development section, I read the following prophetic words from Jennifer Peterson, "If you want your customers to feel cared for, you must care for the employees that serve them." This started me musing about the way organisations across China treat employees.Read More
A single droplet of sweat trickled down my neck as the glowing amber sun beat down on us. I glanced out of the corner of my eye and saw our competitors lined up alongside us. It was the moment we had been preparing for over the last 5 years. Our goal was crystal clear and I had visualised this very occasion countless times.Read More
I believe I can bring the War for Talent to a peaceful end. I came to this realisation two
months ago after I was invited to present at the ‘Corporate Travel and Technology
World' conference in Shanghai. The topic, "Selecting Potential Leaders and Turning a Company from Good to Great", was
provided some months earlier, giving me time to source opinions from
around China. Read More
The global economic downturn we’re in will have long-term consequences for employment and consequently recruiting. The world is seeing the biggest increase in unemployment in decades. Employment is a consequential indicator of problems in the wider economy, so unemployment will continue to rise even if economies start to recover today. The consensus estimate among economists is that in the developed world average unemployment will exceed 10% before the end of 2010.
