Main HR Challenges Faced By Executive Search Firms In China
For the past several years, China has been the focal point of economical and industrial growth. This has led to a large number of foreign businesses to set up operations within the country. However, finding the right talent to handle the various aspects of their business locally has proven to be an uphill task. Even the best executive search firms in China have to work extremely hard to fulfil the HR needs of business organizations. This is mainly due to the various HR challenges that have stemmed from the various socio-economic changes within the country. The seemingly never-ending demand for top talent is another reason that has led to the evolution of these challenges. The most important of these challenges are discussed as follows. 1. Lack Of Qualification 2. Inconsistencies In Resume 3. Increase In Compensation Expectation 4. High Employee Turnover With the various organizations, trying to woo the best talent with offers of better compensation, perks and incentives, the rate of employee turnover is quite high. In fact, the top 10 executive search firms in China often find themselves, shuffling the most eligible candidates between their different clients. However, the high turnover rate often leads to loss of productivity and reduction in customer satisfaction levels. Therefore the recruitments firms face a major challenge in terms of finding talented candidates who are in no hurry to change jobs.
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