Top 4 Strategies to Improve Retention in China
In the past three decades, China has achieved unprecedented economic growth. Foreign companies, known in China as Wholly Foreign Owned Enterprises (WFOEs), have entered the country to capitalize on lucrative opportunities stemming from the growing middle class. Many times however, foreign companies arrive in China only to struggle to retain top talent. They quickly realize they cannot apply their Western retention programs in China, given differences in culture and the business environment. Yet, not everyone has struggled with retention. Many state-owned enterprises (SOEs), which are private companies funded by the Chinese government, have been successful in attracting and retaining highly qualified workers by offering unique benefits tailored to the Chinese labor market.
TriVista’s team conducted an in-depth study, encompassing primary and secondary research, to shed light on what professional Chinese national employees value when looking for long-term employment, and how WFOEs can alter their retention strategies to be more successful.
Click below to read more about each of the Top 4 strategies: