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Firms face 'acute' talent deficit
By Lu Nengneng |
November 18, 2011, Friday
|
Print Edition
Print Edition
CHINA'S financial industry is suffering an acute shortage of talent that rapidly growing foreign companies are finding it difficult to recruit qualified professionals, an employer survey showed yesterday.
Most banks in China reported a greater shortage of talented candidates this year compared with a year ago, according to the eFinancialCareers China Talent Survey conducted by Hays, a global recruiting company.
"The shortage of talent is so acute because a number of major international players are looking to further expand their market presence in China," said Emma Charnock, regional director of Hays China operations.
Many foreign firms are expanding their retail and corporate banking to the lower-tier cities while relocating their back offices from Japan, Hong Kong and Singapore to the Chinese mainland as the government has eased curbs on their business activities in the country.
The survey revealed that 28 percent of the financial professionals regard the talent shortage as a chronic problem.
The employers are looking to recruit talent who specialize in asset management, with experience in managing the relationship between financial institutions and companies. Professionals experienced in financial analysis are also favored.
Even as multinational companies are trying to recruit more local talents, foreign professionals are still favored for senior management and executive-level jobs, Hays said.
Most banks in China reported a greater shortage of talented candidates this year compared with a year ago, according to the eFinancialCareers China Talent Survey conducted by Hays, a global recruiting company.
"The shortage of talent is so acute because a number of major international players are looking to further expand their market presence in China," said Emma Charnock, regional director of Hays China operations.
Many foreign firms are expanding their retail and corporate banking to the lower-tier cities while relocating their back offices from Japan, Hong Kong and Singapore to the Chinese mainland as the government has eased curbs on their business activities in the country.
The survey revealed that 28 percent of the financial professionals regard the talent shortage as a chronic problem.
The employers are looking to recruit talent who specialize in asset management, with experience in managing the relationship between financial institutions and companies. Professionals experienced in financial analysis are also favored.
Even as multinational companies are trying to recruit more local talents, foreign professionals are still favored for senior management and executive-level jobs, Hays said.
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