According to new data from Hays, 70% of employers in China are concerned they don’t have the right talent to achieve current business objectives.
The data from Hays also shows that 53% of employers in China believe skills shortages have the potential to hamper efficient business operations this year. A further 44% expect shortages to have some impact on business operations.
“When the efficiency of a business is threatened, planning your business strategy and your talent pipeline has never been more critical”, Christine Wright, Managing Director of Hays Asia, said: “The focus for many businesses should be to build a highly talented and productive workforce. To do so, companies need to ensure they have access to the right candidates if they are to benefit from emerging conditions”.
In that past year, 54% of employers in China tried to fight skill shortages by upskilling their employees, while 41% improved their attraction strategies. Meanwhile, 5% took no action.
According to Hays, China’s workforce is the least ethnically diverse in Asia with 6% of its workers hailing from another country.
In skill shortage areas, 60% of employers in China would consider sponsoring or employing a qualified candidate from overseas. The data also showed that 69% of respondents in China are willing to move countries to secure the right job. Moreover, 36% of candidates in China are already job hunting with a further 27% planning to change jobs in the next six months and 18% in the next six to 12 months.