As China navigates a faster than expected rebound from the initial economic shock due to the pandemic, it becomes important to understand how developments are transpiring on the ground. This year, China take pronounced steps in prioritising domestic hiring, pharmaceutical companies leading the way in the recruitment market, and digital transformation continuing to be an essential platform.
For a decade, China has been the manufacturing centre of the world; the words ‘made in China’ being not only a statement of provenance but also a government-led proclamation of intent. This mantra, combined with a willingness to accommodate organisations from around the globe, saw multinational corporations (MNCs) flock to China for their wares to be and built and produced.
But while this model has served the nation well, there is a growing shift in outlook, as an increasing number of domestic organisations are showing a greater desire to explore the prospect of having things not only made in China, but also designed, developed and owned in China also. This movement is attracting manufacturing companies to invest in their own R&D centres, driving recruitment in the area, particularly in the Jiangsu province, where the government is encouraging companies to establish manufacturing plants by lowering investment costs.
However, it is not only the manufacturing industry that is increasing investment in the domestic market in 2021. We are witnessing a similar inclination in all areas, such as in the industrial sector, where local companies – taking advantage of the possibilities afforded following the pandemic outbreak – are attracting technical talent to develop and upgrade company core competencies.
Another standout, wide-ranging trend that we foresee is the rise of technology as a driving factor in how companies operate. In the education sector there will be further advancements involving AI, EdTech and online learning applications, stoking a requirement for candidates with experience in these areas. Furthermore, following the pandemic outbreak, consumer spending has shifted online and onto digital platforms, creating a new set of customer behaviours, and digital marketing departments with their fingers on the pulse are pursuing candidates who are able to take advantage of these new opportunities. The supply chain, too, an historically robust industry in China, faced strong challenges in 2020, and with migration towards digitalisation and safeguarding data in the sector, companies will be investing heavily in management structures.
With these various disruptions, combined with pharma companies showing further signs of progression, 2021 looks like being a year of positive tumult in China’s recruitment market.
As an one-stop HR solutions provider, Talent Spot provides executive search and recruitment services to help companies finding suitable candidates. As the article mentioned, Manufacturing, AI, EdTech, online learning applications, and medical/pharmaceutical are all Talent Spot focus industries.
Here are some of our successful cases in these industries: