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Public enterprises spearheading hiring demand in Greater China

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Mainland China’s state-owned enterprises (SOEs) have a strong demand for talent with almost all saying they have plans to recruit new talent this year.

The findings were from RMG Recruitment Insider survey, which looked at the hottest hiring trends and changes in the first quarter in the Greater China area.

The survey was based on interviews with HR and hiring managers from nearly 600 corporations in the region about their hiring headcounts, salary package, salary rise, employing demand.

The demand for talent in the Greater China area is strong, with only 8.2% of companies saying they did not expect to have new headcount.

SOEs are expected to be the leading recruiters with 99.1% of them planning to have new hires, while domestic-foreign joint ventures had the lowest anticipated hiring rate of 81.8%.

However, despite their strong demand for talent, SOEs do not have much to offer in terms of pay, as four in every five said they will not be able to give pay raises of more than 10%.

On the other hand, multinational corporations based in America and Europe are willing to offer the most generous pay, with one-third saying they will offer new recruits a pay raise higher than 10%.

ALSO READ: Top 5 industries in Hong Kong facing manpower shortage

In terms of hiring methods, employing headhunters is the most important channel to hire executives, with nearly one-third of managerial positions or above hired through them.

An emerging channel for recruitment is social media, which is almost as popular as job fair, ranked as the second most popular method of talent hunting.

Another interesting finding was around the monthly salaries offered to new hires, where the majority (46.9%) said they were offering pay upto RMB 10,000 per month.

Another 30% were planning to offer in the range of RMB 10,000 to 20,000 per month, while just 2.7% were estimating payouts of more than RMB 40,000.

Image: Shutterstock

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