HUMAN RESOURCES CHALLENGES
There are many human resources challenges, which are faced by this company in the Chinese market. Recurring new and innovative talents is the major function of the human resource manager of this company. Working for a reputed organization like this company is a crucial part of the social life of a Chinese employee. Therefore, small companies face problems with the recruitment of Chinese employees. There is a lack of background checks and references during the recruitment of the employee of this company. It is seen that more than 20% of the resume of the candidates has inconsistency in their credentials. The background checks are done for the supervisor and the senior management of this company. There is an imbalance between the opportunities of business and talent is one of the major issues which is faced by the human resource manager of this company. There is a lack of experience in many areas like sales, technology, and marketing of the employees of this country. There is less than 10% of the candidates are eligible for the jobs in key areas of the business like finance, engineering, etc. It is a problem to find and recruit the right talents for the right of the HR manager of this company. The labor cost of this country has increased significantly. It is seen that the cost has increased by more than 12% per year. The average wage rate of this county was 36 % now it is increased to 48%. The salaries of Chinese employees of this company include various allowances. The cost has increased from 40% to 65% due to the allowances. This company recruits foreign managers to operate the business in the Chinese market. The foreign employees need to have many criteria to operate the business in this country. The manager needs to have professional experience in a particular field. He has no criminal record and he needs to have a valid passport and other foreign travel documents. The retention of Chinese employees is one of the complex factors for the HR manager of this company. The employee turnover rate of this country is 118% due to better carrier growth, training, development, and benefits. These are the main causes of the outsourcing of HR in this country.