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Employers feel pressure to retain talent
By Dong Zhen |
May 23, 2012, Wednesday
|
Online Edition
Online Edition
Chinese employers are under greater pressure this year to retain high-caliber professionals due to widespread expectation for pay raise, according to a human resources survey released today.
Demand for pay raise has now become the major factor for strained relationship between employers and their employees, according the survey by Hudson Recruitment.
Up to 80 percent of company managers interviewed say they are afraid of losing their most valuable workers as they can't afford their high pays, according to the survey that covered 3,000 Chinese companies.
"The demand for high-quality professionals is rapidly increasing in China but the pool of available talent fails to grow as quickly," said Cherol Cheuk, general manager of Hudson's Shanghai branch.
About 61 percent of company managers in various industries say it is harder to find high-skilled workers this year, especially senior management and strategic planning professionals due to increased labor cost.
About 48 percent of the companies now plan to increase their salary budget while the rest are inclined to hire less-capable and less-experienced candidates are cheaper to hire. And 73 percent of company workers surveyed say they plan to change jobs this year and 56 percent of them say they will do it within six months.
Human resources experts say bonus package, longer annual leave and better medical insurance are important tools to retain skilled professionals besides pay raise.
Demand for pay raise has now become the major factor for strained relationship between employers and their employees, according the survey by Hudson Recruitment.
Up to 80 percent of company managers interviewed say they are afraid of losing their most valuable workers as they can't afford their high pays, according to the survey that covered 3,000 Chinese companies.
"The demand for high-quality professionals is rapidly increasing in China but the pool of available talent fails to grow as quickly," said Cherol Cheuk, general manager of Hudson's Shanghai branch.
About 61 percent of company managers in various industries say it is harder to find high-skilled workers this year, especially senior management and strategic planning professionals due to increased labor cost.
About 48 percent of the companies now plan to increase their salary budget while the rest are inclined to hire less-capable and less-experienced candidates are cheaper to hire. And 73 percent of company workers surveyed say they plan to change jobs this year and 56 percent of them say they will do it within six months.
Human resources experts say bonus package, longer annual leave and better medical insurance are important tools to retain skilled professionals besides pay raise.
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