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The number of young people earning university and graduate degrees in
One of the main problems is
“Making the talent search more difficult is the fact that the more experienced managers are in short supply and command high salaries,” says Judith Banister, director of global demographics at The Conference Board. Banister co-authored the report with David Learmond, executive fellow and program director for The Conference Board Asia-Pacific Council on Talent, Leadership Development and Organizational Effectiveness.
“For multinationals, it is now a challenge not only to recruit the best people, but also to develop and retain them,” says Banister, who is based in
Young Adult Population Shrinking
Says Banister: “A lot of young Chinese managers bear this burden and will readily move between employers in order to get a bigger salary, more status and more opportunities. This is one of the reasons why staff turnover rates are often very high in
China’s Education System Still Evolving
The Chinese government knows it must increase the number of educated people if it is to compete economically. The fact that a lot of young people want to work for multinationals – mainly because of the high status it gives them – has persuaded some multinationals to forge links with universities to bring about change that otherwise might happen very slowly. In some universities, this approach has been well received and multinationals are reporting success in getting whatever skills they want.
“It is an approach that should be mutually beneficial because it allows students to be trained in a way that is useful to the multinational,” says Banister. “Those students then have a fast track into a job with that multinational when they graduate.”
However, the practice sometimes falls short of this expectation as there is still a strong tendency for the university system to rely on “learn by rote” techniques.
“Teamwork and creativity are qualities still in short supply among Chinese managers,” says Banister.
Positive qualities of educated Chinese workers: