Hiring and retaining employees appears to be a doable and simple task now that some strategic approaches and methodologies are available. In China, however, things are not the same.
Because of China’s fast-growing economy, many informed entrepreneurs are aware of the substantial investment potential in the country. If you want to start a business in China, you must understand how to increase employee retention.
How to Increase Employee Retention in China
Conduct an internal HR audit – HR managers must review their current policies, procedures, and all documents to ensure that they are in compliance with recent regulatory and legal developments and that their HR strategies are aligned with them.
Leadership – Employees in China are accustomed to different styles of leadership than those in the West. According to various surveys, Chinese employees primarily respect leaders who demonstrate a high level of care, power, authority, and strategy. Even though many Chinese employees want to be independent, they rely heavily on their leader’s guidance and direction.
Competitive bonus system – Both locals and foreigners are employed by international corporations. It may encourage employee retention, especially if locals are offered a competitive salary package. It may also motivate employees to stay if there is a bonus system that allows them to increase their salary based on their performance.
Company culture awareness in China – Despite rapid changes in recent decades, traditional Chinese culture is still practiced in the workplace. Foreign employers must follow the same procedures as domestic employers. Employers usually give their employees gifts on holidays. Employers give their employees mooncakes during the Mid-Autumn Festival, but some employers give money in a red envelope instead.
Employee recognition – It is critical to have a system in place for employee recognition. Because the job market is so volatile, setting performance criteria goals is essential. It ensures that they always keep their priorities in mind, and that the goals can be changed at any time.
If you have any question about how to do hr management in China or you are intent to strat a business in China, contact us now for free consultation.
