A human resources management strategy is the overall plan that leads the implementation of specific HRM functional areas. HRM strategies guide personnel decisions that ensure the best fit for the organization. All functional areas of HRM strategies need to match the overall business strategy. China human resources strategies are important for China actively promotes democratic and scientific legislation to provide legal security for the fair and equal rights of individual development for everyone, and the scientific development of human resources.
Two human resources strategies which are normally being used are attracting talent and retention of staff. This two strategies are the most popular strategies which can help the company to build its own talent base.
China Human Resources Strategies - Attracting Talent
Career development and training schemes are popular. However what is vital is that the training is delivered. It has been found in surveys that a large number of staff looking for jobs has left their previous positions because training or career development promises were never fulfilled. This stands in contrast to the belief of many companies that employees leave because they seek better pay.
Other strategies that companies are using to boost retention rates are company car, home loans, generally run over five years, or an MBA or EMBA sponsorship run over three years. Stock options are another perk for senior management that is being used in the market. There is also a trend to give local managers greater responsibility for managing their own affairs between clients/ customers in China and the overseas offices.
The salaries of highly qualified staff, especially those with work experience, will continue to climb. Foreign enterprises will have to learn that key employees must be paid according to their marginal revenue product i.e. to the value that they add to the company, not to quickly outdated and simplistic ideas about cheap Chinese labor. There is no adequate business reason to pay different salaries to two equally qualified employees, simply on the grounds that one is Chinese, and the other is a foreigner. The value of a staff member lies in what they produce, not in how little they can be paid.
China Human Resources Strategies - Retention of Staff
Retention of staff, particularly at a senior level is becoming a major company priority, not just for the costs in recruiting replacements, but because when senior management leaves, it is commonplace for members of the subordinate management team to leave with them. A reason for this is that generally senior management changes are amongst the most unsettling for staff. They feel insecure with how they will fit in with a new boss, and many decide it is time to look elsewhere. They also find it reflects poorly on the company and its image.
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