Competition for staff hots up in China
(7 February 2007 – China) International banks growing their operations in China are finding intense competition for quality staff.
Staff with foreign language skills, particularly English, are in big demand at this time of year which is peak season for hiring.
However, foreign banks have to be cautious about poaching staff from certain domestic banks, for fear of rocking the boat with strategic partners and potential conflicts of interest.
PricewaterhouseCoopers estimates that almost 17,000 Chinese employees will work for foreign banks by 2008.
HSBC plans to add 1000 new staff in China this year. The bank added the same number in 2006.
Hong Kong’s Hang Seng expects to increase its staff by 2000 over the next three years.
However, foreign banks have to be cautious about poaching staff from certain domestic banks, for fear of rocking the boat with strategic partners and potential conflicts of interest.
PricewaterhouseCoopers estimates that almost 17,000 Chinese employees will work for foreign banks by 2008.
HSBC plans to add 1000 new staff in China this year. The bank added the same number in 2006.
Hong Kong’s Hang Seng expects to increase its staff by 2000 over the next three years.
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