Spencer Stuart: Working for Chinese Enterprises: A Trend for Top Talent?
Multinational corporations during the 1990s and 2000s were the choice for much of Chinese management talent due to the higher compensation, training opportunities and performance oriented culture. Spencer Stuart reports that trend has lost popularity. Overwhelmingly more Chinese executives are leaving multinational companies to join Chinese enterprises.
The allure of Chinese enterprises stems from the opportunities for career advancement. In many MNCs there have been narrowly defined roles that restrict many executives. Many Chinese companies have evolved to an advanced stage in which they need senior level talent with global perspectives. In addition, roles are not as narrowly defined at Chinese companies as they might be at MNCs. Although there is an air of allure surrounding Chinese enterprises, senior executives need to manage their expectations before joining to understand the challenges related to culture and business practices.
MNCs are not powerless when it comes to attracting top talent. Compensation is still a competitive factor. Spencer Stuart’s panel of HR executives suggested that MNCs can combat the perception of having a glass ceiling by creating more growth and development opportunities for senior executives.
The full report is published on Spencer Stuart’s website. Read the full report.