CHINA RANKS AMONG TOP TALENT NETWORKS GLOBALLY ACCORDING TO NEW HAYS REPORT

China was identified as a top talent network across five industries in a new Hays report that details markets with the strongest talent profiles, those struggling with the biggest talent deficits, and where organisations can find the most cost-effective talent networks to hire the skills they need.

 

The report, ‘The Workforce of the Future: Navigating the Skills Disruption', examines five sectors - technology, engineering, banking, financial services and insurance (BFSI), manufacturing and life sciences - in over 30 markets.

 

“Talent shortages have been growing more critical globally on the advent of several global megatrends including economic instability, advancements in technology, changing work expectations and an ageing workforce. These have forced leaders to revisit conversations regarding talent supply in order to strengthen their strategies for the future,” says Sue Wei, Managing Director at Hays Greater China. “China stands out among its peers for having one of the richest supplies of talent available to businesses looking to put a global talent strategy into motion.”

 

China was ranked 2nd for top talent networks in technology, manufacturing, banking, financial services and insurance, life sciences and engineering globally, and 1st in Asia. It was also ranked 3rd for top emerging talent networks for banking, financial services and insurance, tied with India.

 

“China’s supply of talent is a boon for organisations, but its status as an established skill hub presents new challenges for leaders to tackles. Existing talent may not currently be seeking a new role, or may not be available at a price that organisations are willing to pay. Emerging talent may not possess the quality or experience a company is looking for, requiring additional investment into training and development,” said Sue.

 

Additional considerations with a cross-border talent network includes tackling local tax and legal implications, including bridging region-specific qualifications, language barriers and cultural nuances.

 

“Plugging a talent deficit takes work, but is one that is ultimately worth it. Leaders need to learn how find the right balance of talent for the work needed, from the right location to unlock greater innovation, adaptability and growth for their organisation.” said Sue. 

 

A copy of this report can be found here.

 

 

Contact

For more information contact:
Bill Wang
E: Bill.Wang@hays.cn

 

 

Hays plc (the "Group") is the world’s leading specialist in workforce solutions and recruitment, such as RPO and MSP. The Group is the expert at recruiting qualified, professional, and skilled people worldwide, being the market leader in the UK, Germany, and Australia and one of the market leaders in Continental Europe, Latin America, and Asia. The Group operates across the private and public sectors, dealing in permanent positions, contract roles and temporary assignments. As of 30 June 2024, the Group employed over 11,100 staff operating from 236 offices in 33 countries. For the year ended 30 June 2024:

 

– the Group reported net fees of £1,113.6 million and operating profit of £105.1 million.
– the Group placed around 57,700 candidates into permanent jobs and around 225,000 people into temporary roles.
– 13% of Group net fees were generated in Australia & New Zealand, 32% in Germany, 20% in United Kingdom & Ireland and 35% in Rest of World (RoW).
– the temporary placement business represented 59% of net fees and the permanent placement business represented 41% of net fees.
– Technology is the Group’s largest division, with 25% of net fees, while Accountancy & Finance (15%) and Engineering (11%), are the next largest.
– Hays operates in the following countries: Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, the Czech Republic, Denmark, France, Germany, Hungary, India, Ireland, Italy, Japan, Luxembourg, Malaysia, Mexico, the Netherlands, New Zealand, Poland, Portugal, Romania, Singapore, Spain, Sweden, Switzerland, Thailand, UAE, the UK, and the USA.