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Human Resources Work Trends for 2023 and Beyond

WiseNetAsia Knowledge Center
Copyright © 2022 WiseNet Asia Pte Ltd. All Rights Reserved

Human resources strategies have to align with work trends. Hybrid work, global staffing, remote work, and online onboarding are some of the new trends that have become the norm for HR departments and division heads worldwide. Having more in-depth knowledge of work trends enable employers to make better talents planning. With a new year just around the corner, we have put together work trends that would essentially mold the future of work.

Human Resources Work Trends for 2023 and Beyond

The labor market today is more competitive than ever. Work setups are continuously evolving. Making decisions for an evolving and uncertain future workforce can be quite difficult. Fortunately, there are trends that we can use as a guide to help us gain insights into how we can create strategies to attract and retain the best talents. Here are some of these HR trends:

Hybrid and Remote Work setups are here to stay

We can look forward to more flexibility in terms of work setups. Employees actually prefer to work from home rather than work onsite. In fact, statistics show that a remote working option is seven times more likely to attract applicants than any other working option. This is not really surprising considering that there are so many benefits to working remotely.

For starters, employees can save time, energy, and money if they work from home. They no longer have to wake up very early to prepare for work and commute to the office. They do not have to buy new clothes and shoes every now and then. They can eat a freshly cooked meal as opposed to a fast-food takeout or a microwavable lunch.

Plus, they no longer have to endure traffic during rush hour. Aside from being able to save time, money, and energy, they also get to spend more time with their family members. This is great for working mothers with younger children. To accommodate the need of work flexibility, HR departments can design work setups on working with employees that are not physically present most or all the time. There should be clear processes on how to screen, interview, and onboard new employees remotely, supported by cloud-based systems and online portals.

Using Predictive Analytics

There is no doubt that modern technologies are shifting the dynamics of workplaces. Predictive analytics with its combination of artificial intelligence, analytics software, and big data have redefined the talents landscape for employers.

Using predictive analytics can help employers make better hiring decisions. It helps to determine which candidates have higher chances of success in the job and which ones to reject based on their resumes, cover letters, assessments, pre-screens, and even social media. It will also analyze past and present data to effectively forecast future outcomes.

During the hiring process, HR managers can simply run resumes through the software to find out which candidates are qualified. Their profiles will be scanned to see which ones closely match the job descriptions.

If you are running a hiring software, here are some of the major keywords to find out which candidates are suitable:

Human resources experience
Recruiting
Staffing
Retention
Social media
Onboarding management
Communication skills
Inclusion and diversity
Benefits and compensation
MS Office
Innovation
Collaboration
Employee relations
Human Resource Information System (HRIS)
Leadership development
Job analysis
Manpower planning
Performance management
Talent development

Predictive analytics basically digs deep through data to extract, dissect, and categorize information. Then, it identifies patterns, correlations, and irregularities. In an organization, the collected data regarding prospective hires and existing employees can be turned into actionable insights.

Using Employee Management Applications

Employee management applications enhance productivity and engagement, whilst providing transparent and real-time data. Implementing them can yield many positive results. Some of these benefits include:

Making onboarding easier and more efficient.
Enhancing the training experience of employees and bridge communication gaps.
Providing more accurate time tracking for processing payrolls.

HR teams can use these applications to analyze employees’ trends, and also to obtain and store employee’s historical data. Employers can also use these applications to connect with remote employees faster and more conveniently.

Providing Unique Perks

A survey of about 18,000 employees across Asia Pacific was conducted by PricewaterhouseCoopers or PwC Global, a company that offers professional business services. According to results, only 57% of employees in Asia Pacific experience satisfaction with their job. One in five plan to switch to a new employer. One-third intend to ask for a raise in the next twelve months while another one-third intend to seek promotion.

Millions of workers have already changed or quit their jobs. Employees continue to resign in search of more meaningful and fulfilling work. Because of this, small companies have a hard time competing with larger companies in terms of benefits and wages.

Small and medium enterprises can provide unique perks too, based on their own creativity and budget. For instance, an area allocated for snacking, chilling, and having coffee, vacation bonuses, additional paid time off, or education reimbursement etc.

To find out what employees want, HR department can give out surveys, ask employees for their ideas and preferences, and provide the feedback to decision makers so that they can take the necessary actions. Keeping employees happy is guaranteed to make them want to stay for good.

When employees are happy and satisfied, they will be more productive at work. On the other hand, employees with mismatching skill sets can result in productivity and efficiency loss.

With the recent developments in technology and work setups, HR managers and staff need to reassess how they do things. They also need to learn how to deal with situations that they have never encountered before.

Prioritizing Employee Wellness

Despite continuous efforts on bringing life back to normalcy in most countries, the prolonged COVID-19 pandemic and its aftermath effects have taken a serious toll on everyone’s mental health. So, employee wellness has become more important than ever. HR professionals should find ways to detect mental distress amongst employees. They have to make sure that they are armed with the right resources to deal with such issues.

During and after the pandemic, people are more conscious about the overall wellbeing of their own mental health, their family relationships and personal finances. HR departments can create employee assistance programs as well as wellness programs to help employees deal with their physical and mental health issues. Additionally, they could provide more self-help courses on personal improvements.

Advise for HR Professionals

HR management has long been a vital part of organizations. In fact, they greatly contribute to the successes and failures of the companies they work for.

For HR professionals, you need to realize that work trends are ever-evolving, and that you need to cope with them to stay on top of your game.

Always keep your ear to the ground for new trends. Do not be afraid to think outside the box. Go beyond your own market, country, and industry to learn what other people in other fields are doing.

Read, watch, and listen to news reports. Browse social media and online communities. Find out as much as you can about these emerging HR trends. Then, research how you can improve or adapt your strategies.

Rethink the way you train employees and ask for their feedback, as well as how you convey your messages. Remember that remote and hybrid working models are becoming the norm today. Nevertheless, you should also think long-term. Consider how present trends can affect the HR industry five, ten, or twenty years down the road.

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Articles, Events

1st National Conference on the Development of Human Resources Services_Chongqing, China

The 1st National Conference on the Development of Human Resources Services_Chongqing, China is held on July 28 to July 29 at the Chongqing International Expo Center.

Organized by the Ministry of Human Resources and Social Security and Chongqing Municipal People’s Government, the event’s objectives are to connect service providers with their target market, and to promote the high quality development of the HR services industry.

Scan the QR code above to follow WiseNet Asia Chongqing, and to fill up a card for the Wishing Tree

WiseNet Asia

Chongqing International Expo Center, Booth N1-W10

Visit us to receive an exclusive gift. We look forward to seeing you

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Articles

7 Key Influences of the Human Resources (HR) Department

WiseNetAsia Knowledge Center
Copyright © 2021 WiseNet Asia Pte Ltd. All Rights Reserved

The original article was published in 中外管理中外管理杂志文：曹金华新媒体编辑：胸怀天下. The views and opinions expressed herein are those of the author. They do not reflect the views of WiseNet Asia, its affiliates, or its employees.

7 Key Influences of HR from the perspectives of a HR personnel in China

How do HR exert it’s influence to make up for the gap between the importance of the human resources department and the actual degree of attention it is getting? How should HR influence the top management and other departments?

Human Resources work has evolved from traditional personnel tasks such as checking attendance and calculating salary to more strategic roles, such as how to enhance the competitiveness of the company, how to retain talents for the company, etc. However, as revenue is a constant agenda of the company, HR is subjected to many restrictions in the course of carrying out their work. For example: communication with some business departments is not so easy; when there is a disagreement with the sales department, HR often have to make concessions in order to reach an agreement.

As a practitioner of human resources management, I often ask myself, how can we exert our influence to make up for the gap between the importance of human resources and the actual degree of attention it’s getting? How should we influence others?

Based on my years of experience in the industry, relevant theories in management, and the exchanges between colleagues, these are the recommended strategies of influence for HR:

Enlist the support of top management

To exert influence, the most important thing is to obtain top management’s trust and support. With support from the top, the influence will be greater on other managers and colleagues.

The following methods can be used:
– Help top management deal with difficult problems
To gain the trust of top management, it is necessary to initiate help in settling difficult issues, such as labor disputes, handling of “troublesome” employees, etc.

– Think from the perspective of the boss or the company
Recruitment and training all cost money, yet their impact cannot be seen immediately. Hence contribution of human resource management may be difficult to quantify for some companies’ top management team. Therefore, HR must be able to think and comprehend issues from their perspectives. They have to be able to accomplished scheduled tasks in ways that meet the stakeholders’ expectations.

– Give your boss appropriate credit
Aside from being capable at our work, we also need to be capable at managing people relationships at work. To gain trust, we need humility and know when to give appropriate credit to the boss.

Effective communication

– Know yourself and know others

The prerequisite for effective communication is to know yourself and know the people you are working with. When people feel that you know them, they are more inclined to listen; and more open to changes that you are proposing. To know co-workers more, you need to do these two things. First of all, you need to keep abreast of their activities and know what they are thinking. These will help you come out with more customized people approaches. Secondly, know the personal characteristics of each employee and choose different communication methods for different people.

– Use data and analytics as the basis of communication
Debate or even arguments are common ways of communication in the workplace, and the best way of justify an argument is to provide supporting data and analytics. If the data alone doesn’t attract the attention of the bosses, then we have to use facts, in addition to data support.

– Have sufficient information on hand
The more information that is available, the more helpful it will be for decision-making and good judgment. Therefore, whether we are trying to influence upward, parallel, or downward, we must have sufficient information. Especially when making suggestions to decision-makers, the proposal must be backed by sufficient information to enable them to make decisions with confidence. To have enough information, human resource information system (HRIS) or management information system (MIS) is an indispensable and important tool.

– Know who are the key influencers in a small group
Key people in small groups often influence the behaviour and thoughts of other members of the group. Respecting the opinions and ideas of key people in a small group is essential for communication and overcoming resistance.

When trying to get a buy in with groups at work, we must try to listen to the ideas of key figures in these small groups, and then communicate with them and request assistance. The key figures will feel respected, thus minimizing resistance when we are trying to push for work.

Gain trust

The Human Resources Department is unlike other technical units such as production or engineering, R&D, that have physical products for discussion with other managers. Human Resources mainly provide consulting and support services. Therefore, we have to make other department managers and employees co-operate willingly so that work can move ahead. It is very important to gain the trust of other department managers and employees.

– Respond quickly to the other party’s suggestions
To gain the trust of others, the first step is to quickly respond to the other’s suggestions, because this can reflect the individual’s ability and efficiency in doing things, so as to build a good reputation and trust.

– Showing personal ability
Human resource management must be valued. To this effect, our own abilities are key. We must seize the opportunity to fully demonstrate our personal abilities and establish respect and reputation among colleagues. Once there is respect, future work can be easily promoted. To show personal talents, the best way is to have a set of plans from beginning to end, think about the whole process carefully, predict possible issues and figure out solutions beforehand.

– Respect and trust employees
Respect and trust are motivating factors at work. For employees to willingly contribute to the company, it is very important that the human resource system is designed based on strategic empathy. If we can do this, our downward influence will be greater, and accordingly we will gain the respect and trust of our employees.

Make strategic recommendations to the organization

We must have some strategic thinking and ideas about the organization, and then promptly suggest or reflect upward.

– Acting as a consultant to organizational change
When the organization is going through change such as organizational restructuring, we must be able to take on the responsibility of consultants. We must proactively provide data, relevant information, take on new opportunities and not be passive human resource managers. We must understand the procedures and steps of organizational change, as well as master the professional characteristics of people in different fields of work.

– Expand your network
As our network widens, we will be able to grasp more information. After which, information can be analysed from the perspective of providing a service to enhance the breadth of thinking.

Leverage

It is usually difficult for us to influence the boss, other department managers or employees by ourselves or even with one department’s power. However, we can leverage on external forces to do that.

– Cite the advice of outside experts
If we think that we are not persuasive enough in pushing for changes in HR systems such as remuneration, performance management, organizational reform etc, we can invite external experts or consultants to meet the boss or other department managers to provide opinions, and use their advice or assistance to convince the boss or other department managers.

Most people think that external experts are ‘guru’ in their field, and will generally respect the opinions of outside experts and consultants. When we raise the subject again, it will be smoother.

– Joint strategy
While drawing on the power of external experts, we also need to integrate the different internal opinions in order to create teamwork. For example: When the boss doesn’t accept your suggestions, you can form a common group to resolve resistance.

– Take advantage of training
Training is an important activity in human resource development. We can use this good resource and mechanism to indirectly influence company bosses or colleagues, that is, through training opportunities, we can stimulate everyone to learn, and then influence everyone’s thoughts and behaviours. In this way, everyone can reach a consensus, thus minimizing resistance.

Creating additional value

– Proactively take on the responsibility of knowledge management in the organization
More and more companies have begun to pay attention to the storage, sharing, transfer, and activation of knowledge in the organization. Who should be responsible for knowledge management in the organization? From the perspective of strategic human resource management, our role must move from a passive, responsive, operational manager to an active, proactive, and decision-making strategic partner. Therefore, we can take the initiative to assume the responsibility of knowledge management in the organization. If this aspect is done well, it can help the boss or colleagues to quickly obtain the correct information, make effective decisions, and thus increasing HR’s influence.

Acts of Strength

Although the human resources department is a service support unit within the company, we should still step forward and make our stance when there are impacts that will cause adverse effects. Especially when there are sufficient data to support our points, we should show our strengths, thus enhancing our influence in the company.

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Articles, Belt Road Initiative, Talent Acquisition

Chongqing: A Growing Career Destination to Explore

Why you should consider career opportunities in Chongqing

Positioned at the confluence of Asia’s economic markets, Chongqing is the largest of China’s four municipalities. What’s more, it has seen a year-on-year double digit GDP of 11% reflecting its rapid growth and development.

A vibrant and unique city

Touted as the world’s fastest growing tourism city according to the World Travel & Tourism Council, Chongqing is the gateway to the stunning Three Gorges reservoir and home to alluring valleys.[1] Its location in the Sichuan region also makes it a great place to enjoy simmering hotpot dishes. Thrill-seekers can expect the American-owned Six Flags amusement park franchise to open an adrenaline-pumping space here in 2020.[2]

The Chongqing region is identified as one of the focuses under China’s 13^th Five-Year Plan (2016-2020) for socioeconomic development, with a mandate for greater urbanization and connectivity by strengthening its shipping centers in the Yangtze River, the longest river in Asia.

Chongqing is a key inland transportation hub for the Belt and Road Initiative which connects Western/Southeast Asia, Africa and Europe. The recent Belt & Road Chongqing Brand Expo 2018 drawing 20,000 visitors highlighted the city’s auspicious position as the intersection of the Silk Road Economic Belt, Indo-China Peninsula Economic Corridor and Yangtze River Economic Belt.

Transport options abound with Jiang-bei International Airport located in the heart of the city, over 150 trains passing through daily to connect major cities like Beijing and Shanghai, and 6 easily navigable subway lines linking Chongqing’s 9 districts, just to name a few. The huge investment in connectivity here has, in turn, attracted investment from other cities in China.[3]

Establishing a career in Asia’s largest smart city

Primed to be Asia’s largest smart city and also China’s pilot city to apply Big Data Intelligence by 2020, Chongqing hosted the Smart China Expo in 2018 which welcomed key personalities in business and tech such as Alibaba’s Jack Ma and Tencent’s Pony Ma.[4] Recently, Alibaba partnered with a local bank to develop financial service apps and Tencent announced its 1,000-strong workforce in the city, an increase from the previous figure of 400.[5] The presence of these MNCs here is testament to the growth potential of Chongqing—you certainly want to get on board this wave of progress!

Incentives for talents

Career opportunities are impressive as the local government seeks to attract worldwide talents. The launch of the Hongyan Talent Plan in 2017 is a major factor: it offers monetary incentives based on industry classification, services around investment and financing, eligibility for resident visa and household status, medical services and more.

Eligible talents (those who meet skillset requirements and sign an employment contract of a minimum of 3 years in Chongqing) can apply for the Chongqing Talent Service Card. This helps with household registration based on the available range of accommodation selections in expat-preferred areas, residential visa privileges, finding employment for spouse/children, schooling privileges and preferential medical arrangements. Entrepreneurs are also given support via tech initiatives, project financing, loan subsidies and more.

Those with children or looking to start a family can choose from a good variety of established international schools catering to ages from nursery to tertiary. Medical care is also just a ring away with most major serviced apartments having 24-hour call services with doctors on standby.

Achieving success

Adapting to life in Chongqing is easier than imagined with the availability of expat support networks and activities. These might include café meetups to get to know fellow expats in a relaxed setting, or even marathon races, seminars and conventions.[6]

Whether you’re a first-timer or a seasoned expat, keep an open mind and be willing to explore. Get rid of any preconceptions you may have and you might learn something new along the way!

In terms of business etiquette which can be delicate in Chinese tradition, here are some tips to follow:[7]

关系 (guānxì) or strong relationships is particularly important in China—this may involve several meetups which could involve informal lunches/dinners to achieve your objective
If you are new, it helps to have an intermediary as most Chinese don’t conduct business with people they don’t know
Small talk is common and expected before meetings, instead of just getting to the point
Maintain composure and avoid strong displays of emotion, as losing and gaining ‘face’ is a key Chinese concept
Enter meeting rooms in order of seniority; the person entering first is usually the head
‘Yes’ doesn’t always mean yes, and ‘no’ is only said in private

With practice and over time, these customs will naturally come to you.

With a plan dedicated to attracting world-class talents to this lively city brimming with opportunity, Chongqing is definitely a place you should consider for your next career move!

–End–

Sources:

[1] Source: https://edition.cnn.com/travel/article/chongqing-china-tourism/index.html

[2] Source: https://investors.sixflags.com/news-and-events/press-releases/2018/04-24-2018-213034885

[3] Source: https://www.internations.org/chongqing-expats/guide/working-in-chongqing-18651

[4] Source: http://en.people.cn/n3/2018/0830/c90000-9495761.html; https://www.prnewswire.com/news-releases/chongqing-to-host-smart-china-expo-boosting-development-of-big-data-technology-300699414.html

[5] Source: https://asia.nikkei.com/Business/Business-Trends/China-s-top-tech-flocks-to-inland-cities-to-develop-AI

[6] Source: http://www.cqexpat.com/

[7] Source: https://www.todaytranslations.com/doing-business-in-china; https://www.cnbc.com/2017/06/27/etiquette-tips-for-doing-business-in-china.html; https://cnbusinessforum.com/chinese-business-etiquette-101-business-china/

Successful Placements

AVP, HR

January 2019

Successfully closed the position of AVP, HR for a leading IT infrastructure provider in Singapore.

Articles, Belt Road Initiative, Talent Acquisition

Top 5 Challenges Faced by Foreign Enterprises in China Today

With the rapid development in the China market, China has now become one of the world’s leading economies. This has brought more and more foreign companies to China. China’s business environment and culture are different from other parts of the world. To succeed in China, foreign companies are inevitably faced with various challenges that must be overcome. In response to these challenges, we conducted a brief interview with Ms. Gao Xin, who has worked for many years in foreign companies. Ms. Gao Xin has more than 20 years of experience in human resources management. She is also the founding partner of the New Organization Development Research Institute. Ms Gao’s working experience include Director of Human Resources for Forbes500 Enterprises and Vice President, HR of listed companies in China. She is now working with Chinese local companies.

Based on her many years of experience and the observations working in foreign companies, Mr. Gao shared with us the top five challenges that foreign companies are facing while developing in China:

1. Foreign companies’ response to market changes is not timely

Due to rapid development, the Chinese market dynamics are constantly changing. Gao feels that the overall response of foreign companies to the market is obviously slower. She thinks the main reason is the inherent organizational structure of foreign companies. The headquarters of foreign-funded enterprises are all overseas, and the decision-making brain is often not in China. Many foreign companies in China are branches, and some are even divisions of the local Asian headquarters, thus, the distance from the real brain is quite far.

When the market has new developments, local companies will quickly respond with countermeasures. In the case of foreign-funded enterprises, their China’s branches need to report the new trends and counter measure plans to their headquarters. The headquarters will then go on meetings to discuss whether it can pass the proposed plans. This leads to the situation whereby when the local companies have already implemented counter programs, the foreign enterprises are still deciding which plan is better.

The congenital factors of foreign-funded enterprises to a certain extent determine that their response to changes in the market is not timely. Under the ever-changing market environment in China, the influence of this inherent problem of foreign companies is still quite substantial.

2. Foreign companies have low acceptance of new technologies in the domestic market

Gao thinks that although many advanced technologies are developed in the United States, the application of these technologies is very fast in China. She said that China does not have much historical burden on the use of new technology solutions, so it is very fast when it comes to the use of technological transformation. For example, credit card payment widely used in the West is not so popular in China, so new payment methods such as WeChat payment are widespread and fast. In the process, she discovered that many foreign companies are slower in this respect. In foreign companies, many office systems, management systems, and so on, all these technical applications need to be consistent with the headquarters for ease of management. The head office of foreign companies hopes that these systems will achieve global unity. Today, the development of information technology in China is changing with each passing day. Especially in the Internet industry, office software systems are constantly developing. For example, DingDing and WeChat Office fully realizes wireless connectivity with mobile phones, real-time office and remote office. Most local companies have begun to exercise these apps or software to improve their work efficiency. However, due to factors such as information security and global standardization, foreign-funded enterprises cannot decide whether to use the software in a short period of time, even if the software can effectively provide employees with work efficiency.

Gao also mentioned that many foreign companies have become accustomed to using e-mail to communicate, but the communication channels of local companies are relatively more diversified, and the exchange of information is very fast. To cope with fast market changes, the speed of decision-making must also be relatively fast, and the basis for the application of technology by foreign companies cannot support the pace of changes in the outside world.

3. China’s preferential policies for foreign enterprises have weakened

Gao shared that in the early days when foreign-funded enterprises entered the Chinese market, the Chinese government provided many preferential policies, such as tax incentives, industry-based preferential terms, etc. This series of policies allows foreign-funded enterprises to have a greater advantage when competing with local companies.

However, as more and more foreign-funded enterprises enter the Chinese market, coupled with the enormous development of local companies, the preferential policies for foreign-funded enterprises are slowly weakening. At the same time, the government is also supporting the development of local enterprises. This has resulted in foreign companies losing competitive advantage in the Chinese market. According to Gao’s observation, many foreign companies may not be able to cope with this change. For example, she mentioned that when a foreign company first entered the Chinese market, the company had a large preferential policy on income tax. Now that the policy has changed, the company’s expenditures and income have also changed. However, when the company reinvested in the Chinese market, it failed to take a very effective approach to deal with the weakening preferential policies.

4. Corporate culture differences

The work environment provided by foreign-funded enterprises to employees is relatively stable, comfortable and humane. Most people in Western countries are pursuing a state of balance between life and work. They hope that work and life are completely separate. Working hours are devoted to work, and at the end of the day, they should devote themselves fully to their own lives. However, in China, most people are very hardworking and aggressive, and their pace is relatively fast. Many people are willing to sacrifice their own rest time and devote themselves to work, hoping that they can achieve something in their career. Although employees of foreign-funded enterprises often have overtime, the reason for this overtime is mostly for internal communication purposes. Due to the time difference with the headquarters, most branch offices need to report work based on the time of the headquarters.

Gao feels that the rhythm of the entire society in Europe and the United States is relatively slow compared with China. Although the humane management style of foreign-funded enterprises is very attractive to most people, however, due to the fierce competition in the Chinese market, compared with local companies, foreign-funded enterprises have not developed the kind of ‘fierce’ spirit in response. In the long run, it appears that the competitiveness of foreign companies lags behind their Chinese competitors.

5. Foreign companies are becoming less attractive to talent

Mr. Gao shared that in the 90s and even the beginning of 2000, foreign companies ranked top on the list of companies favored by talents. However, today, there are more and more local companies that ranked ahead as favourable employees, such as Alibaba, Huawei, Tencent and others. In the early days, foreign enterprise talents were very popular in the market. But now, their popularity is on the decline.

Gao also analysed that foreign companies have advantages in the field of technology and industry experience, and a relatively longer market development time, this forms a more mature management model and philosophy. The advantages of foreign companies are a clear organizational framework, standardized processes, and meticulous definition of work scopes. These are some HR aspects that were highly regarded before. However, it is also because of this, we realized that foreign enterprises employees can have depth in their work yet their scope is limited.

In addition, foreign branches in China do not have strong authority, and rely on the system from head office for implementations, consequently people feel more restrained. China start-ups often do not have a clear framework in the beginning. People who work in there have multi-talents and are able to work beyond their scope. Ms Gao foresees that in the future, due to the continuous development and changes in the market, these multi-faceted talents are what the employment market will be lacking.

Finally, for foreign companies, many organization structures are fixed and it is difficult to make a big difference. Many times, a position can only rise up to certain level, where beyond that level are all foreigners. For Chinese people there is no path for further growth.

In China, the attractiveness of foreign enterprises to talents are gradually declining. Talents that come out from foreign-funded enterprises are also losing their appeal in the employment market.

As a conclusion, Gao feels that when foreign companies are navigating the rapid development of the Chinese market and the aforementioned challenges, they need to reconsider their development strategy and positioning. If the Chinese market is the company’s target or future key market, then there need to be some adjustments in the management system and thinking. For example, to set the target market as priority, the headquarter can work as a resource and strategy center that supports the rapid development of the market. The frontline in the target market is given the authority and space for decision-making, while the headquarters mobilize resources for support.

The above article is the interviewee’s point of view and does not represent WiseNet Asia’s position. We are very grateful to Mr. Gao for taking the time for this interview.

About Miss Gao Xin

Ms. Gao Xin has more than 20 years of experience in human resources management, organizational and leadership development. She is also the founding partner of the New Organization Development Research Institute. Ms Gao’s working experience include Director of Human Resources for Forbes500 Enterprises and Vice President, HR of listed companies in China.

Qualifications:

Master of Sustainable Leadership, University of Cambridge, UK.

MBA, Federation University, Australia

MBA, Human Resources Management, Beijing University of Science and Technology, China.

National Secondary Psychological Consultant, National Human Resource Manager, Accountant, Financial Economist, ICP Certified NLP Coach, DISC Practitioner.

Articles, Belt Road Initiative, Talent Acquisition

Chongqing Municipal Government’s Hongyan Talent Plan Benefits both Talents and Companies in Chongqing

The Chongqing Municipal government’s Hongyan Talent Plan, launched in year 2017, aims to attract talents from all over the world to the city.

Domestic and foreign talents can now apply to be part of the Hongyan Talent Reward Plan and enjoy the relevant policies and services according to their industry classifications.

Incentives*:
• Category A talents: Monetary incentives equivalent to twice the amount of annual income tax contributed or fixed quantum incentives not amounting to more than RMB 2 million.
• Category B talents: Monetary incentives equivalent to 1.5 times the amount of annual income tax contributed or fixed quantum incentives not amounting to more than RMB 1 million.
• Category C talents: Monetary incentives equivalent to 1.2 times the amount of annual income tax contributed or fixed quantum incentives not amounting to more than RMB 300K.
*Payout of the incentives will take place over a period of three years. 40% of the incentives will be paid out on the 1st year, 35% will be paid out on the second year and subsequently, 25% will be paid out on the third year.

One-stop Services:
• Entrepreneurship: Readily available services for investment, financing, applications for national and provincial level technological projects, etc.
• Resident Visa: Eligible to apply for 5 year residence permit and enjoy perks for permanent residence status.
• Settlement / Household registration: Eligible to apply as a registered household in Chongqing for the talent and family.
• Assistance on employment for spouse and children.
• Medical Service: Enjoy privileges of priority medical services via the “green channel” in hospitals, including priority for appointments, hospitalisation,
and surgical procedures.

INDUSTRY REWARD TIERS:
Applicable Industries: Water Conservation, Agricultural Leasing, Environmental & Public Amenities, Building, Mining, Wholesale and Retail, Manufacturing, Real Estate, Transportation, Warehousing, Cultural, Sports, Entertainment, Food & Beverage and Hospitality.
Category A: Professionals with an annual salary of RMB 1.2 million and above.
Category B: Professionals with an annual salary of RMB 600K to RMB 1.2 million.
Category C: Professionals with an annual salary of RMB 300K to RMB 600K.

Applicable Industries: Education, Public Administration, Social Organisations, Electricity, Heat, Gas, Water Works, Health & Social Works, Scientific Research, Technical Services and Information & Communications Technology.
Category A: Professionals with an annual salary of RMB 1.6 million and above.
Category B: Professionals with an annual salary of RMB 800K to RMB 1.6 million.
Category C: Professionals with an annual salary of RMB 400K to RMB 800K.

Applicable Industries: Financial Institutions, Private Equity and Venture Capitals. This also includes professionals who are involved in Offshore Finance, New Financial Products Research, Risk Management, Financial Leasing and CFA, CFP & Finance Professionals.
Category A: Professionals with an annual salary of RMB 2 million and above.
Category B: Professionals with an annual salary of RMB 1.2 million to RMB 2 million.
Category C: Professionals with an annual salary of RMB 600K to RMB 1.2 million.

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Articles, Talent Acquisition

Essential Traits of A CEO to Battle the Recession and More Uncertainties Ahead

Different schools of thought abound on the causes and consequences of a financial crisis, often a precursor for a recession. With JPMorgan Chase speculating that the next recession will take place in 2020 – just two years from now – which may see stocks at a 20% decline and energy prices devalued by 35% according to analysts,[1] it would be prudent for companies today to assess how best they can weather this slump to make a quick turnaround.

The CEO has a pivotal role in steering a company through such turbulent times. Faced with the challenges of predicting which parts of the business will be affected and identifying actions to secure the company in the best position possible, this CEO requires several key traits to succeed.

Visionary ability

Leaders need to be in touch with their capability for accurate long-term visioning. With rapid industrialization and global market volatility where anything can happen, it’s not always easy to spot who your future competitors are. They can be in the form of a new technology or a new merger, which can pose a fresh and unexpected threat to your business.

The unpredictable nature of such obstacles and changes would mean that past data becomes unhelpful or irrelevant to gauge future trends and sustainability metrics. Although past data can facilitate in the making of ongoing operational decisions, it does not guarantee that the company will sail smoothly through the face of instability in years to come. Swift changes in market dynamics paired with customer needs and demands require businesses to be equally swift – if not one step ahead – in response.

Being able to envision the future with innovations that revolve around customer lifestyles can provide a competitive advantage to help sustain against disruptions in the future.

Authority to execute

Leaders take full ownership of their vision. They act with purpose to make their ownership visible to everyone.[2] They show confidence to drive and execute specific actions that target the business’ weak points. Doing so both benefits the company and creates inspiration for onlookers as the CEO’s every move is watched closely.

Undivided focus

A business leader will encounter many proposals and personal invitations for new ventures. Some of these may be tempting, enough to divert and shift major resources such as funds and key talents. It is an essential trait to stay focused and disciplined on the initial goal(s) where efforts have been made and value in, despite the attractive or lucrative deals that may be presented to you.

Genuine intention

Although it’s easy to get caught up in making profit a priority, a leader needs to counter this by doing things with heart. This means striking a balance by establishing responsible corporate practices without placing employee and societal interests at risk.

Leaders who care for the people are true leaders.

Flair for numbers

It may seem like a given but having a knack for numbers cannot be underestimated. This enables CEOs to make agile decisions, identify loopholes and make calculated risks. It also helps with assessing potential opportunities for the business.

Selecting the ideal CEO is no easy feat, as an individual’s strengths and weaknesses are not always readily visible. Having a checklist of essential traits will help companies make crucial decisions when hiring for this important role.

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Contributor: Wesley Hui

Wesley Hui is the Executive Director of WiseNet Asia Pte Ltd. He is a HR industry veteran with over 20 years of experience specializing in executive search and human resources consulting. The clients he has worked with are primarily in the real estate and infrastructure sectors which include Keppel Land, Sime Darby, Sunway, Temasek, ARA, etc. Wesley also actively participates in speaking engagements on HR and leadership topics in Singapore and China.

Follow Wesley on LinkedIn: https://www.linkedin.com/in/wesleyhui/

Sources:

[1] Source: https://www.pymnts.com/economy/2018/jpmorgan-financial-crisis-recession-emerging-markets/

[2] Source: https://www.forbes.com/2008/05/09/strategy-executive-zeleny-lead-manage-cx_dz_0509tough.html#7d0a3a3037af