I recently read with huge interest on Chinadaily.com.cn (December 27, 2008) how authorities in Yizhuang launched a 100 million yuan per year program to recruit overseas-trained Chinese talent to work for companies set up in the Beijing Economic-Technological Development Area (BDA). It was reported that qualified Chinese recruits returning from overseas are entitled to an award of 100,000 yuan in addition to getting housing subsidies, a free medical checkup, and education subsidies for their children. That is not all; companies that employ these returned talents could receive an award of up to 500,000 yuan.
This article reflects the importance of retaining and employing talent in Chinese business. Every employee has a warehouse of experience of knowledge to contribute, even if he had been trained overseas. Actually being trained overseas has an added advantage of being able to increase overseas networking opportunities.
This set the scene for my first article (in the China context) of 2009 – how should Chinese firms view the coming year? Here are some of my views as an Economist and Futurist.
Team up with Chinese Higher Learning
According to The China University Alumni Association, Peking University has been labeled the "cradle of Chinese tycoons". The reason? It topped the list of the richest Chinese college graduates with 35 billionaire alumni! This is followed by Zhejiang University and Tsinghua University. Billionaire alumni from Peking University include sports goods tycoon Li Ning.
It is very crucial that your company get involved with the various activities of Chinese Higher Learning. This can be as simple as sponsoring their events.
Be open with your employee
Don’t make promises that you cannot keep. The global recession is going to last for at least the whole of 2009. This will definitely hit the company’s bottom-line. Cost-cutting will be the norm.
Retrenchment should be the last resort
Nothing is more devastating then to go through a retrenchment exercise. It is the easiest way to solve a bad situation. But is it the best? Will your company be reflected in a good light and get the respect of your employees?
It has been reported by Chinadaily.com.cn that several of Chinese Huddler Liu Xiang's sponsors will continue to support the track star despite his failure in the recently-concluded Beijing Olympics. Nike has even gone so far as to change the tag line of one of its print advertisements to "Love Sport Even When It Breaks Your Heart", which prominently features Liu. Coca-Cola has also said it will continue to endorse Liu.
Find more innovative ways of cutting costs
Your company can start cutting cost by reducing the air-conditioned bills by encouraging workers to dress less formally like in casual jeans for certain work-days. Alternatively, you can encourage them to take the lift less often and use the stairs. Many companies can also drastically save money by encouraging employees to use more of the internet, instead of fax, in order to cut down on paper usage.
More income generated
Help you employees generate more sources of income – even activities that are not traditional like private tutoring. This may sound far-fetched but their activities may open more doors for new source of revenue for your own company. Under-utilised facilities like seminar rooms can also be better employed and the employee may be touched by how open-mindedness of your company. This will also encourage more corporate loyalty.
Book publishing
Nothing gives your company more visibility then publishing a book about your company’s activities. You can even consider getting your top marketer to publish under your company. Give the book out or have a prominent book launch.
Engage Your Customers
Get their feedback on your new launches or through viral marketing, get them to promote your product. Many of your customers have website and blogs so send them a widget to link back to your company.
No comments:
Post a Comment