2020 Nov 12
On November 5th, CGP co-founder Sophie Wong and CGP Shenzhen Office Recruitment Director Anna Chen were invited by the School of Economics and Management of the University of Hong Kong to conduct an online speech titled "Analysis of the Employment Market in The China Great Bay Area" for MBA students.
CGP has been in The China Great Bay Area since 2015 and has successfully established offices in Hong Kong, Guangzhou and Shenzhen, focusing on talent hunting in emerging technology/Internet, manufacturing, financial services, semiconductors and other related industries, as well as in human resources, sales and marketing, etc. CGP has accumulated profound experience in the recruitment of relevant functions.
01. What kind of talents are corporate decision-makers looking for?
Technology industry companies in The China Great Bay Area are emerging one after another, and traditional industries are also facing rapid digital transformation, with a strong entrepreneurial atmosphere. In such an employment environment, corporate decision-makers also have a new position in the demand for talents.
Professional ability has become the primary consideration for decision-makers when selecting talents. Companies are often after talents who are deeply involved in a certain field and have accumulated profound experience. After becoming an expert in a certain field, talents also need to actively learn knowledge in other fields. As the progress of the integration of different industries continues to deepen, the accumulation of cross-domain knowledge by talents is particularly important, especially in science and technology. Talents need to plan to upgrade their career development space. Constantly upgrade your professional skills, accept and learn new ways of playing, strengthen teamwork and so on. They need to strengthen the ability to solve problems and the ability to tell stories. Talents need to be customer-oriented, keep curiosity and rational thinking, and actively accept challenges.
02. Gathering talents, the talent welfare policy in The China Great Bay Area
Compared with ten years ago, enterprises in The China Great Bay Area have significantly improved their requirements for talent education background, and many positions and even graduates from non-top universities are not hired. In order to attract high-level talents, The China Great Bay Area government has implemented a very competitive talent introduction policy. Taking Qianhai District of Shenzhen as an example, Hong Kong and Macau graduates who come to work in The China Great Bay Area will be given allowances ranging from RMB 10,000 to RMB 50,000. Hong Kong and Macau graduates who have obtained relevant professional qualification certificates can receive a subsidy of RMB 50,000. For talents in extremely scarce professional fields, the government will not only provide preferential tax policies, but also reward them with equal salary.
03. Employment Guide for The China Great Bay Area
The entrepreneurial atmosphere in The China Great Bay Area is one of the best in the country, where your entrepreneurial dreams can be realized to the greatest extent. There are many results-oriented doers here. The government also supports the entry of emerging technology startups. For an entrepreneurial enterprise that is built from scratch, the construction of a talent framework is particularly important: startup companies with rapid development momentum usually invite industry leaders to guard them, and their experience and reputation are an important help in attracting talents. A landable entrepreneurial program is usually easy to get investment, land and equipment subsidies.
Joining the consulting industry is also a popular choice today. The consulting industry is now particularly favored by candidates with digital experience. However, to have promising development prospects in the consulting industry, choosing the right project direction is very important. For talents who want to enter the consulting industry, choosing promising development projects is more important than choosing salary levels. At the same time, this industry needs talents who are involved in front-line business and efficient execution capabilities.
Talents who choose to go to Party A’s company to display their talents need to understand the current layout, popular positions and salary structure of The China Great Bay Area industry. The China Great Bay Area focuses on the development of the Internet, high-tech and some traditional industries; hardware-related industries are very active; the advantages of The China Great Bay Area in the logistics supply chain have also promoted the development of the e-commerce industry; financial technology is also a popular sector here.
Companies here have a high demand for talents in technology, products and operations, and relatively few functional positions. The opening of functional positions such as marketing, strategy, finance, and personnel basically comes from large enterprises. Small and medium-sized enterprises' recruitment strategy this year tend to be conservative.
It is worth noting that the compensation structure of companies here is mostly a bonus system or an equity incentive system. According to CGP consultants, most companies set part of their compensation (sometimes as high as 50%) as bonus or equity. Therefore, talents who want to develop need to have psychological construction of the company's salary structure in advance.