Asiathechallenges

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Great report of hiring patterns and challenges across Asia.

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Asiathechallenges

  1. 1. KEY TRENDS IN THE ASIAN TALENT MARKET IN TODAY’S SCARCE TALENT MARKET:  There is an increased demand for more skilled and multicultural talent  Hiring the right talent is the primary source of competitive advantage  Recruiting the right talent is a critical business priority  Having a strong global EVP that is localized to each key market is essential  Implementing a targeted and cost effective sourcing strategy is crucial They use language and images that Talent is often “not familiar” with students don’t understand Companies as employers. They lose talent to other companies Common trends among most fortune Their offers don’t get accepted They do not always know where to 500 companies… find their ideal talent or how to attract them Engineering and IT students are in high They spend a lot of money on advertising to demand across industries attract people and fail to get themSOURCE: NOVA GLOBAL TALENT STRATEGY INDICATOR 2011Based on a survey sent to Fortune 500 companies and 2010 Deloitte Technology fast 500 globally
  2. 2. STATISTICS FROM SURVEY AMONG FORTUNE 500 COMPANIES 66% Of global employers will increase their hiring during 2012 92% Of Fortune 500 companies will focus more on 57% Say the economic downturn has led to re- evaluate efficiency of attracting the right talent recruitment efforts during the next three years1/ Have few resources on 83% Say their current 3 the ground in Asia access to top students at Pacific, which will schools where they don’t experience the largest have campus presence is recruitment growth over limited or non-existent the next three yearsSOURCE: NOVA GLOBAL TALENT STRATEGY INDICATOR 2011Based on a survey sent to Fortune 500 companies and 2010 Deloitte Technology fast 500 globally
  3. 3. APAC – KEY SOURCE OF FUTURE TALENTOver the next 3 years, employers are expecting significant recruitment growth in Asia Pacific, but many ofthem are not prepared and view those same markets as most challenging. Future Expectations per region/market China, India, Hong Kong, Indonesia, and Singapore will experience the largest recruitment growth over the next 3 years Asia Pacific will be the most challenging region with respect to sourcing ideal talents 1/3 of employers do not have strong recruiting presence in those markets at this time
  4. 4. APAC MAIN CHALLENGES FOR EMPLOYERS Talent Sourcing Employer attractiveness Cultural differences • INCREASING DIFFICULTY TO • Multinational companies lose • Retention a persistent RECRUIT TALENT ACROSS ground to national champions problem APAC COUNTRIES – HIGH DEMAND FOR SKILLED LABOUR, • National as well as • Concern over “Job Hoppers” EXPERIENCED PROFESSIONALS multinational companies in (2 year average tenure – AND MANAGERS investment and growth mode attrition rate 20-30%, up to • QUALITY OF CANDIDATES STILL A CHALLENGE – MAJORITY OF – increasing the pressure on 50% in China) EDUCATIONAL INSTITUTIONS OF the talent market • Monetary reward and future POOR QUALITY • Millennial trends are seen in career opportunities the • EXPLOSIVE GROWTH IN ASIAN Asian students and young main driver in employer NATIONALS STUDYING IN THE WEST – GLOBAL SOURCING professionals influence selection BECOMING CRUCIAL FOR employer selection MULTINATIONALS 4
  5. 5. ASIA 2006 TO 2011 – THE RISE OF LOCAL FIRMSChina: From 2 companies in the top 10IDEAL™ Employer Rankings in 2006… …to 7 companies in the Top 10 in 2011Company Rank 2006 Company Rank 2010Procter & Gamble 1 Bank of China 1McKinsey 2 Procter & Gamle 2Citigroup 3 China Mobile 3HSBC 4 China Development Bank 4China Mobile 5 ICBC 5Bank of China 6 CICC 6PricewaterhouseCoopers 7 Citi 7KPMG 8 SGCC 8Morgan Stanley 9 HSBC 9The Boston Consulting Group 10 PetroChina Company 10 Key conclusions… What are the strong factors that domestic companies have? Why aren’t international companies attractive to China’s top talent?  Financial strength and market success  Secure employment and professional training and  I do not feel the career opportunities are development attractive enough  Offer a comfortable physical work environment and a  The work environment is too competitive friendly work environment  I do not perceive that I would develop at that  Good prospects for high future earnings and competitive employer benefits
  6. 6. ASIAN STUDENTS STUDYING ABROAD IN HIGH DEMAND!More and more organizations attempt to bring international students back to their home countries! 58% of employers say they recruit international students (occasionally or frequently) for roles in their home countries Do you recruit international students for roles in their home countries? Top 5 countries where employers recruit international students: 1. UK 2. USA 3. China 35% 4. Germany 41% 5. France Primary employment markets for which 23% employers recruit international students: 1. China 2. India 3. France Never Occasionally Frequently 4. UKSOURCE: NOVA GLOBAL TALENT STRATEGY INDICATOR 2011Based on a survey sent to Fortune 500 companies and 2010 Deloitte Technology fast 500 globally
  7. 7. THE MAJORITY OF ASIAN STUDENTS ABROAD PLAN TO RETURN HOMEPlans for future employment – Asian students abroad I plan to work in my current country for 2-3 years before moving back to 50% my home country I plan to work in my current country 26% I plan to work in my home country 10% I dont know 5% Other options 8%
  8. 8. ASIAN STUDENTS ABROAD NOT INFORMED ABOUT OPPORTUNITIES BACK HOME Do you have enough information Have you been approached by about career opportunities available employers based in home country? for you in Asia? 23% 22% Asian students in US 77% 78% Asian 18% 32% students in Europe 68% 82% Yes No
  9. 9. THERE’S STILL A MISMATCH IN SKILLS DESIRED VS. CURRENT SKILLSWhat type of skills are you looking for in new hires?What are the skills that your new hires lack the most? Communication 61 % 21 % Technical competence 59 % 22 % Practical experience 52 % 32 % Business acumen 50 % 28 % Team leadership 49 % 24 % Adaptability 48 % 15 % Sales 39 % 18 % Management 36 % 19 % Financial expertise 26 % 9% Theoretical knowledge 25 % 4% Skills DesiredAdministration/Organisation 19 % 4% Skills Missing 9
  10. 10. THE MOST ATTRACTIVE INDUSTRIES TO BUSINESS STUDENTS 1. Banks 1. Engineering and manufacturing 2. Financial Services 2. Automotive 3. Auditing and Accounting 3. Telecommunication Services 4. Management consulting 4. Aerospace and defense 5. Public sector & Governmental Agencies 5. Hardware equipment1. Banks2. Auditing and Accounting 1. Banks3. Financial Services 2. Financial Services4. Management consulting China 3. Auditing and Accounting5. Business services and operational 4. Business services and operational consulting consulting 5. Travel and leisure Japan Hong Kong 1. Engineering and manufacturing 2. Chemicals India 3. Aerospace and defense 4. Industrial engineering 5. Pharmaceuticals and biotech Singapore 1. Banks 1. Financial services 2. Financial Services 2. Investment banking 3. Auditing and Accounting 3. Accounting (public) 4. Business services and operational consulting 4. Private banking 5. Travel and leisure 5. Hotel/restaurant/tourism/hospitality 1. Engineering and manufacturing 1. Engineering/manufacturing 2. Banks 2. Academic research 3. Public sector and Governmental Agencies 3. Chemical/petroleum 4. Educational and research institutions 4. Engineering consulting 5. Construction and materials 5. Government/public service 10
  11. 11. THE MOST IMPORTANT CAREER GOALS Top Career Goal Trends in APAC -What career goals do you hope to attain within three years of graduation?Business Engineering1. To have work/life balance 1. To have work/life balance2. To be secure or stable in my job 2. To be secure or stable in my job3. To be a leader or manager of people 3. To be a technical or functional expert4. To have an international career 4. To be a leader or manager of peopleDifferences do occur on a country by country basis in the ordering of the above career goals and the addition of country-specific career goals.Local Differences – Business Local Differences – Engineering:China: To be a leader or manager of people China: To be a leader or manager of peopleJapan: To be autonomous or independent Japan: To be a technical or functional expertHong Kong: To be dedicated to a cause or to feel that I Hong Kong: To be secure or stable in my jobam serving a greater good Singapore: To have work/life balanceSingapore: To have work/life balance India: To be a technical or functional expertIndia: To be a technical or functional expertThe local differences are based on the biggest positive difference to the average among the career goals in each market.
  12. 12. ASIAN STUDENTS’ IDEAL EMPLOYERS My IDEAL™ employer should offer. . . Business Engineering 1. Good prospects for high future earnings 1. Challenging work (Job Characteristics) (Remuneration & Advancement Opportunities) 2. Will enable me to have good work/life balance 2. Will enable me to have good work/life balance (People (People & Culture) & Culture) 3. Good prospects for high future earnings 3. Good reference for future career (Remuneration & (Remuneration & Advancement Opportunities) Advancement Opportunities) 4. Offers a creative and dynamic work environment 4. Professional training and development (Job (People & Culture) Characteristics) 5. Secure employment (Job Characteristics) 5. Offers a friendly work environment (People & Culture) Local Differences – Business: Local Differences – Engineering: China: Competitive benefits (Remuneration & China: Competitive benefits (Remuneration & Advancement Opportunities) Advancement Opportunities) Japan: Secure employment (Job Characteristics) Japan: Challenging work (Job Characteristics) Hong Kong: Professional training and development (Job Hong Kong: Professional training and development (Job Characteristics) Characteristics) India: Financial strength (Employer Reputation & Image) India: Leadership opportunities (Remuneration & Advancement Opportunities)This data excludes Singapore as the data due to differences in the methodology. The local difference is based on the biggest positive difference to the averageamong the Top 5 attributes in each market.
  13. 13. EXPECTED ANNUAL SALARY 13
  14. 14. OUT OF ALL THE MAJOR ASIAN COUNTRIES, CHINA ACCOUNTS FOR THE MOSTOVERSEAS STUDENTS IN US FOLLOWED BY INDIA AND SOUTH KOREA Japan 21K South China Korea India 158K 73K 103K Taiwan Vietn. 25K 14K Number of Chinese born students in USA went up by 23,3% between 2010 and 2011 Number of undergraduate Chinese students in USA increased by 43% between 2010 and 2011 14
  15. 15. CHINESE STUDENTS ARE TO A LARGE EXTENT SPREAD OUT IN USA, MAKING ITDIFFICULT FOR COMPANIES TO FIND THEIR IDEAL TALENT Total Chinese Students Undergraduate Level Graduate Level 4. Purdue Univ. 1600 3. NY University 1800 2. Univ. of Illinois 18001. UCLA 5. Columbia University 1900 1600 Total USA 158 000 57 000 77 000 15
  16. 16. THE ACTUAL SOURCING BASE IS MUCH SMALLER THAN MOST COMPANIES THINK ANDTHE COMPETITION FOR OVERSEAS TALENT IS FIERCE77 000 Chinese study in US 10% plan to go back toon Graduate level China after graduation19% study engineering20% study computerscience 50% consider to go back to China after28% study business graduationTotal potential sourcing base:6215612 9362 56021 97046370 16
  17. 17. WHERE AND WHAT DO INDIAN STUDENTS STUDY? Total Indian Students Undergraduate Level Graduate Level 2. USA 1. UK 5. SWEDEN 104 000 41 000 1900 14 000 - - 63 000 - - 3. FRANCE 4. GERMANY 1700 4000 - - - - 17
  18. 18. HOW BIG IS YOUR TARGET GROUP?63 000 Indians study in US 10% plan to go back toon Graduate level India after graduation37% study engineering20% study computerscience 50% consider to go back to India after15% study business graduationTotal potential sourcing base:56709459 4502709039 690 18

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