For the 10th consecutive year, Morgan Philips has carried out an extensive survey of senior professionals in the Greater China region, bringing you the latest market intelligence on the current mindset of candidates and the key challenges businesses are facing during the Coronavirus crisis.
The survey, which went out to over 5,000 professionals in the Greater China region, addresses many pressing questions on a range of talent and recruitment related themes. Although the COVID-19 pandemic has weighed heavily on local and multinational businesses, organisations can ill afford to overlook their talent, hiring and onboarding strategies.
While candidates are in the main staying put for now, they are carefully monitoring the actions of their employers and how their leaders are confronting these difficult times. As David Ng, Managing Director for Mainland China & Hong Kong outlined: "Although employees may not be as mobile given economic uncertainty, organisations must pay attention to engagement or risk losing talent when the economic landscape improves.”
The report also examines the benefits of a multi-generational workforce, by having younger and older employees working together. “Although work styles and values may be different, it is important to leverage the power of diversity in your workforce. Employers must harness the experience and skills of older workers,” warns Mike Paxton, Director, Morgan Philips Talent Consulting.
We also explore the correlation between global mobility and why Chinese companies are so successful on the world stage. You will discover the destinations of choice for Mainland Chinese, Taiwanese and Hong Kong employees on their global career journeys and compensation and benefits (C&B) approaches in the region, such as ‘local plus’ and tax equalisation.
The importance of inspirational leadership also comes under the microscope, with so much pressure heaped on those at the top to not only safeguard their businesses but also demonstrate empathy for their people through times of unprecedented difficulty and hardship. This is a true test of their leadership mettle.