融全球智力 促创新合作 谋共同发展
COOPERATION INNOVATION DEVELOPMENT
融全球智力 促创新合作 谋共同发展
Cooperation Innovation Development
“中国就业热”下的外籍人才在华择业及发展趋势 | Top Talent Trends for Foreigners
In April, LAOWAI Here hosted several foreign talent activities:
First, the networking and internship event with students from ICN Business School in France. At this event, we helped students have on-site interviews with 5 enterprises from different industries. We also held a session with MBA students from CASS Business School, University of London, discussing Chengdu’s business environment. On April 28th, as a professional HR platform, we shared our insight into the career development of foreign expats on the “Chengdu Talent Day. "
During all of these events, everyone seemed to be curious about the same questions: What is the development trend of foreign talents in China? Which industries will provide career development opportunities for qualified foreign talents in the future?
汇丰银行(HSBC) 2017/18年度的“移居探索者调查”(Expat Explorer Survey)报告称，移居中国可以为移居者提供诸多职业和收入优势。在中国，超过一半的外籍人士任职于教育或制造业，他们的收入明显高于其他移居者——通常每年可多挣得7万美元。此外，据报道，同在母国生活相比，选择来中国的外籍人士可以获得更多存款和可支配收入。
The number of foreign talents choosing to come to China for career development opportunities is increasing year on year.
HSBC’s Expat Explorer Survey 2017/18 reported that a move to China offers expats numerous career and income advantages. With over half of expats in China working in education or manufacturing, they earn significantly more than the average expat – typically an extra $70,000 annually. In addition, expats here reported to save more and have more disposable income than they did at home.
As one of the world’s economic powerhouses, China is also second in HSBC’s global rankings for career progression. Not only did 70% of expats surveyed say that China offers strong job prospects (compared with only 54% globally) but half of expats said that they have more opportunities to acquire new skills here than at home.
At present, the top three employment sectors are education, service and financial services. Although some foreigners believe they face fierce competition from Chinese professionals, they are in fact highly sought after due to their comparative advantages, including international networking experience, mobility, knowledge of specific business cultures, foreign languages or business English and special areas of expertise.
As demand for foreign talent in China continues to grow and the competition for international talent increases, it is important to know in which direction recruiting tendencies are heading and where to find the best opportunities.
The Key Talent Trends in 2019
1. International Schools
International education is a highly valued trend emerging within China’s education market as a result of policy changes and increasing demand. Despite having free public schools, a shortage of education resources in the public education sector has led to families seeking private options as a route to academic success. As levels of wealth in China continue to rise, private schools, with their reputation for pathway preparation to global universities and careers, are becoming more accessible to families. They allow children to be close to home prior to university yet receive an education that prepares them well for university studies abroad.
International schools are being selected by families for very specific reasons and therefore expect the teachers to have specific skills and experiences i.e. a high proportion of foreign, native English-speaking teachers, who deliver a dual curriculum with sufficient expertise in Western methods of teaching. This is a distinguishing feature which allows such schools to be considered the best schools in China. This is, however, a challenge for this developing market sector which faces a shortage of sufficiently qualified teachers.
Currently over 245,500 students (primarily Chinese nationals) are in enrolled in the 563 International Chinese Private Schools already established in China, but by 2028 this number is predicted to increase to over 800,000 children attending such schools. If the current rate of growth is maintained for the next five years, around 64,700 teachers will need to be employed in the 2023/23 academic year, at least 37,000 of who will be foreign.
2. “STEM” Candidates
China has an ongoing shortage of experts in Science, Technology, Engineering & Mathematics, creating opportunities for talented individuals at all levels of seniority. International head-hunting companies are becoming increasingly important in allowing employers to have effective sourcing strategies in the competition for such talent.
3. Internet, E-commerce & Digital Technology
As China embraces the digital era, the rate of digital transformation is rapidly accelerating. Now established as the world’s 3rd largest IT market behind the USA and Japan, China continues to strive to lead the world in the ongoing development of digital technology and e-commerce. Subsequently, companies are on the hunt for candidates with digital experience to create and lead new business development and marketing strategies.
As a result of a rapidly aging and increasingly ill population, demand for healthcare in China has led to a reform within the healthcare industry to deliver a higher quality of life to its citizens. The upward trajectory of the healthcare market is also driven by strong financial incentives from both the public and private sectors, including a huge investment in R&D. Industries within medical devices and pharmaceuticals are increasingly on the lookout for talent with expertise in business development and R&D.
5. Industrial Automation
As an alternative to relocation, companies are turning to industrial automation to deal with the soaring costs of manufacturing in mainland China. China is now the biggest market in the world for industrial robots, with the number of these robots in China’s factories expected to increase by an average of 25% each year.
In addition to reducing overall costs and increasing efficiency, the increase in industrial automation technologies will allow the Chinese manufacturing industry to progress from low-end products to high-value areas such as electronics and other forms of technology. Engineers and R&D experts with the knowledge and skills to adapt products are critical in this process and therefore high in demand.
6. The Global Rise of Chinese Enterprises
This is soon to be an important chapter in contemporary world economic history. With its large population, cheap labour and abundant capital from foreign direct investment (FDI), China has become the world’s low-cost manufacturer. However, with further growth in trade limited, we have seen a huge rise in outward direct investment (ODI) and the number of companies choosing to 'Go Global'.
As a result of China’s ‘Go Global’ campaign, we will see an increase in the demand for bilingual HR professionals with a global mindset and experience in management, merger and acquisitions, and handling organisational change.
7. The Greater Bay Area
The Greater Bay Area refers to the Chinese government plan to integrate Hong Kong, Macau and Guangdong into a world class city cluster. This is part of China’s strategy to create sizeable areas of economic strength in order to promote new business opportunities and challenge global cities also situated on bays, such as New York or Tokyo.
Considered the third largest trading area in the world and an up-and-coming technology hub, it is a huge investment destination for organisations across all industries. In addition to a highly mobile workforce, multilingual candidates proficient in Cantonese, Mandarin and English are highly sought-after by employers.
Sources include Hays, English Gov, China Daily, Global Times, HSBC, Deloitte, ICF, Robert Walters, 老外HERE国际平台