More recruitment expected next year
NEARLY half of companies in the Chinese mainland plan to increase headcount next year as the battle for talented professionals intensify, according to a recent survey released by Michael Page.
The recruitment consultancy firm's initial finding of its 2017 Asia Salary and Employment Outlook showed that 48 percent of companies will recruit next year, while 45 percent expect to offer 6 to 10 percent salary increase.
The survey interviewed nearly 1,000 employers in the Chinese mainland across various industries.
"We see steady levels of recruitment,'" said Andy Bentote, senior managing director of China at Michael Page. "China will remain a candidate-driven market where strong professionals are in demand and often receive multiple job offers."
Bentote noted that many companies are now targeting millennials, or people in their early 20s who will form the majority of China's next generation workforce.
Fintech, social media and consumer electronics are among China's top industries anticipated for growth next year, align with those having global appeal.
Domestic companies are rapidly becoming employers of choice with the ability to attract and retain strong candidates, the findings showed, while multinational companies have turned cautious around hiring.
Companies in China rank career progression as the most important factor in attracting and retaining professionals, followed by salary increases as well as learning and development opportunities.