Talent management at MNCs in China.docx
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Talent management at MNCs in China.docx
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TalentmanagementatMNCsinChina
TalentManagementatMultinationalFirmsinChina
DevelopingtheChinesemarketisatoppriorityformanymultinationalcompanies.Acrossindustrysectors,however,theyfaceacommonobstacle--attracting,developingandretainingthelocalChinesetalentneededtoaccomplishthisgoal.GlobalfirmsrealizetheimportanceofhavinglocalleadershipintunewiththeidiosyncrasiesandrapidshiftsoftheChinesemarket.Overthepast13years,theAmericanChamberofCommercehasconductedannualsurveysofU.S.companiesinChinaandfrequentlycitesmanagement-levelhumanresourceconstraintsasthetopbusinesschallenge.
Localization:
WhyBother?
Globalcompaniesaredriventohirestafffromwithineachtargetmarketprimarilytogainaccesstoknowledgeofnewregions.InChina,forexample,thishasdrivenmanymultinationalstoreducethenumberofnon-Chinesestaff.PankajGhemawat,abusinessschoolprofessoratIESEbusinessschool,hasresearchedtheimpactof"culturaldistance"onbusinessandhasfoundgreaterchallengeswherecompaniesoperateacrossregionsthatlackhistoricalandculturaloverlap,asistruewithNorthAmericanandEuropeancompaniesinChina.Successfulpracticesabroadmaynottransferwell:
Companiesthatleadinothermarkets,includingBestBuyandTheHomeDepot,haveflounderedinChinaduetoaninsufficientunderstandingofChineseconsumerhabitsandlocalconditions.
"Culturaldistance"hasinspiredsignificantchangesinthebusinesspracticesofmultinationalsinChinafrommarketingandproductdesigntogovernmentrelations.KFC,forexample,developedaPekingduck-flavoredsandwich,andMicrosoft'sBillGatesmetwithPresidentHuJintaotodiscussrampantsoftwarepiracy.Beyondsimplefocusgroupsandmarketstudies,companiesrequireseniortalentwhocanunderstandthelocalneeds,runthebusinessaccordingly,andworkintandemwiththeheadquartersandbusinessunitsaroundtheglobe.
Althoughlowerlaborcostsarecommonlycitedasabenefitofstafflocalization,thisisoftentrueonlyforentry-andmid-levelroles.AtProcter&Gamble,forexample,oneexecutiveindicatedthatalocalChinesehiretypicallyrepresentsonlyone-thirdthecostofanexpatriate.However,followingtheriseinaverageincomeandtheappreciationintheChinesecurrency,thisgaphasbeguntoclose.Withthecompetitionfortoplocaltalentintensifying,thebestChinesemanagersmayeventuallybecomejustasexpensiveastheirforeigncounterparts.
QualifiedTalent:
TheTop10%
Despiteacknowledgingtheclearneedtolocalize,multinationalsstruggletoachievethisduetoashortageofqualifiedlabor.McKinseyrecentlyreferredtothisas"thesupplyparadox"becauseitisdifficulttofindacceptablehiresdespitehavingsomanycollege-educatedapplicants.Recruitingisalsodifficultbecausesomefindthatthebeststudentsdonotalwaysmakethebestemployees.AsJohnHolden,formerpresidentoftheNationalCommitteeforUnitedStates-ChinaRelations,hasnoted,"SomeMNCsprefernottohirerecentgraduatesfromtheeliteChineseuniversities,electingtogowithcandidatesfromsecond-tierandregionaluniversitieswhohavemorereal-lifeexperienceand,perhaps,ambition."
Thequalityofmanagementtalentisonapathofsignificantimprovement,whichcanbeattributedtobroadereducationalandemploymentopportunities.First,moreChinesearestudyingabroad:
In2010,thenumberofChinesestudentsabroadwasroughly200,000,includinga30%increaseover2009forthoseintheU.S.Second,managementeducationisbothimprovingandbecomingmorealignedwithestablishedpractices:
TheChinaEuropeInternationalBusinessSchoolrecentlylureditsnewdeanfromHarvardBusinessSchoolinanefforttoreformitsfaculty,fundraising,brandingandschoolculture.Similarly,PekingUniversity'sGuanghuaSchoolincreasinglyusescoursematerialsfromLondonBusinessSchoolandHarvardBusinessSchool.Finally,withthegrowingpresenceofmultinationalsinChina,thepooloflocalmanagersfamiliarwithmultinationalpracticeshasexpanded.Asaresult,boththequantityandqualityofmanagementtalentinChinaareimproving.Yetdemandfortoptalentcontinuestooutpacesupplyforthreemainreasons.First,moreforeigncompaniesaredeepeningtheircommitmentto,andpresencein,theChinamarket.Second,multinationalsareseekingtoincreasetheproportionoflocalstaffintheirorganizations.AccordingtoBrianNewman,CFOofPepsiCoChina,"wearenowalmostfullylocalized,withtheexceptionofafewC-suitepositions."Third,takingadvantageoftherapidlygrowingChinesemarketoftenrequiresabreakneckpaceofexpansion,requiringmoremanagersofincreasinglyhighercaliber.
ChineseCompanies:
HeatinguptheTalentWar
Thecompetitionfortoptalentisnotsimplyabattlefoughtamongmultinationals.Bothstate-ownedandprivateChineseenterprisesaresnappingupagreatershareofthetoptalentpoolbymeansofcompellingofferings,oftenattheexpenseofmultinationals.Thelatter'straditionaladvantagesinattractingtalent--prestigiousbrands,highercompensationandcareer-developmentopportunities--areeroding.AccordingtoasurveyofChinesejobseekersconductedin2010byManpower,thenumberofrespondentsidentifyingChineseprivatelyownedcompaniesastheirprimarychoiceisupby5%,withforeigncompaniesdown10%,comparedtofouryearsearlier.Primarydriversforthischangearebetterlong-termcareerdevelopmentopportunitiesandbettercompensation.AProcter&Gambleexecutiveechoedthispoint,commentingthat"compensationinChinaisverygood,withatriplingofone'ssalarythreeyearsout.That'snotincludinghousingallowance,companycarorinterest-freeloansyougetasyougetmoresenior.We'renotbeingcheap,butwesimplycan'tcompetewiththeridiculousstockoptionsChinesecompaniesofferwhentheywantanewmarketinghead."
Theabundanceofaggressivelocalventuresinaboomingmarket,coupledwithsubstantialcashfromretainedearningsandventurecapital,hastranslatedintoafiercelocalpoachingoftoptalent.Withtherightqualifications,amiddle-levelChinesemanageratamultinationalwouldlikelyfindhigherpayandincreasedresponsibilityatalocalcompany.Forexample,anassistantmanagerinalargecorporationmightbecomethegeneralmanagerofapubliclylistedcompanyorthejuniorpartnerataprivateequityfund,helpinggrowth-stagecompaniesruntheiroperations.AsRichardSprague,aBeijing-basedMicrosoftexecutive,commented,"OuremployeesknowtheycangotoBaiduorothercompaniesandgetabigchairwithahundredpeopleunderthem."Forprovenmanagers,thereisoftenagenerousselectionofalternativesdrivinghigherturnover.
TheattractivenessofoutsideopportunitiesisexacerbatedbythefrustrationsthatChineseemployeessometimesfeelwhileworkingforamultinational.GiventhattheyareoftenreportingtoforeignmanagersofregionalorglobalbusinessunitswhoarelessfamiliarwiththerapidchangesandbusinesspracticesintheChinesemarket,localemployeesfeelmuchoftheirtimeisspent"translating"forforeigners.Forexample,manymultinationalshavestringentinternalcontrolstopreventtheembezzlementandfraudthatcanbesignificantrisksinanemergingmarketlikeChina.Giftsforgovernmentofficialsandbusinesspartners--oftenlabeled"kickbacks"--havestrictguidelinesintermsofvalueandappropriateness,evenforimportantChineseholidays,whensuchpracticesarecommon.Asoneexpatriateexecutiveobserved,localsfeelthattheseregulations,setbyforeignleaders,are"crampingtheirstyle,makingitimpossibletodotheirjobs."Externalopportunitiescanbecomemoreenticingiflocalhiresfeellimitedbyoperationsthatareinefficientand/orinsensitivetolocalneeds.AnexecutiveeducationprogramdirectorataleadingChinesebusinessschoolframedthischallengeanotherway:
"Thefundamentalissueistrust;doestheheadquarterstrustyou?
Whenthelocalemployeesdon'tseethat[trust],theywillleave.Theproblemwithmanymultinationalsisthatsystemstopromotelocalsarestilladhoc.Withoutaformalsupportsysteminplace,theprocessofidentifyingoneortwotopcandidatesayear,sendingthemabroadandhopingthattheycanbuildthenecessarytrustdoesn'twork.
Thesystemsthatdoexistarestillimmature."Asaresult,localemployeesmayattimesseeaglassceilingthatrestrictstheirpromotionopportunitieswithinamultinational.Alongwiththeincreasingcompetitionfortoplocaltalent,theseissuesoftrust,communication,workstyleandcareertrajectoryaremajorchallengesintryingtobuildastronglocalmanagementteam.
HurdlesforMultinationals:
China's'CulturalDistance'
LanguageisacommonlycitedbarrierformultinationalsinChina.WithEnglishstillconsideredtheinternationallanguageofbusiness,multinationalsoftenfindChinesemanagersmustimprovetheirEnglishlanguageskillstobeabletofunctioneffectively--andexpressthemselvespersuasively--inanon-nativetongue.Whilemanyleadersexcelwiththesesoftskillsinafirstlanguage,itissignificantlymoredifficulttocarrythesameleadershippresenceinone'ssecond,thirdorfourthlanguage,furtherdetractingfromtheconfidenceofcompanyheadsintheirmultinational'shomecountry.Culturalnormsandworkstylesareequallyimportant.Chinesemanagerstendtooperatemorecomfortablyinclearlyhierarchicalstructures,asopposedtomoreopenandflattercollaborativeofficeenvironments.AsoneexecutivewithMicrosoftnoted,"Chinesemanagersmighthavetroublemanagingupwardswithinmultinationalswhenneedingtochallengeauthority,e
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