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Industry salary insights
Human Resources Salary Insights
HR MARKET BOLSTERED BY LOCAL COMPANIES AS CHINA FOCUSES ON DOMESTIC GROWTH
2019 was an exciting year for the HR market in China, with many companies turning their focus inwards to focus on domestic growth. As one of the largest and quickly growing global markets with a significant workforce, China’s local companies have and will continue to play a crucial role in the industry’s development. This is further compounded by the opening up of state-owned companies to the recruitment market, giving candidates with both local and MNC experience an edge over others.
TMT, INSURANCE AND EDUCATION SECTORS HIRING PROFESSIONALS EXPERIENCED IN OD
Consequently, for the HR recruitment market in China, most recent hiring activity has come from local organisations as opposed to multinational ones, especially within fast moving industries like TMT (technology, media and telecom). More hiring is also being seen from industries like insurance and education that are currently undergoing major changes and improvements to efficiency. Candidates with demonstrated organisational development (OD) experience are in high demand to help drive these changes.
LOCAL COMPETITION FUELS ATTRACTIVE SALARY PACKAGES
While the global economic slowdown has caused employers to be cautious in their hiring and offers, most employers are still willing to pay premium packages for the right candidates. This is especially the case with local firms that are currently very competitive in their bid to attract talent