head
logo
 
Gemini July Newsletter
  
callan
With Typhoon season upon us, the winds of global uncertainty seem to be missing most of Asia. We note an increased number of expatriate job seekers heading towards Hong Kong and Singapore, especially within the banking and finance sectors. Hong Kong has seen a steady decline in expat hiring since 1997, whereas Singapore has remained  consistently high in the rankings their hiring needs from outside the Island nation.
 
Hiring expatriate personnel in Hong Kong is still relatively easy, yet employers are still very focused on the need for Cantonese and Mandarin skills, with English being a 'nice to have'.
 
Based on the talent shortages we are still seeing in the market, we would encourage our clients to be open-minded on hiring non-Chinese speakers as the skills they bring in other areas could be far more useful to your business.
 
As you will note from one of the articles in this month's newsletter, Beijing is already looking at curbing the number of foreigners working in China, although this is generally focused on the construction and blue collar worker level. Despite this, it can still have a negative impact on companies in Asia expanding their operations on the mainland if they cannot hire the people they need. We will watch this area carefully in the coming months.
 
I trust you will not get blown away by the typhoons yet to come!

 
Callan Anderson
Group General Manager
callan@gemini.com.hk 
What is the true Cost of Staff Turnover?
 
quit
As the global economy returns to a full recovery the way that we do business has placed new demands upon organizations that are difficult to meet.
 
To remain productive, efficient, and competitive, it is critical that organizations become talent-driven to stay in the game. Talent needs to be handled at every level of the organization. The cost of losing an employee in their first year of employment is estimated at three times their annual salary, plus the hire cost of approximately 25% to 30%. Just multiply that by the number of staff lost over a 12 month period, and many companies may be shocked by the figure they come up with.
 
A new employee's first 3 to 6 months is generally considered the highest period of risk in terms of potential turnover. Research claims that up to 47% of staff turnover occurs within the first 6 months of employment. The reason for this shocking statistic is that many businesses are ill prepared to support and nurture new employees begin searching for a new job:
 
Retaining your talent has now become a strategic priority
 
Why is it so important today? Times are changing and a few key drivers are fueling this emphasis: 

Better business performance is now proven to be linked to increased talent. Within the last several years, a significant movement to quantify the returns that can be expected when a leader invests in its talent has emerged.
 
Talented employees add greater value. More and more, the financial value of our companies depends upon the quality of talent.
 
Competition makes it more difficult than ever to sustain a competitive advantage over the long term. New products and new business models have shorter life cycles, demanding constant innovation. Technology has enabled greater access to information and is forcing us to move at the speed of business.
 
Workforce expectations are also changing. Employee expectations are driving organizations to place a greater emphasis on talent management strategies and practices
Beijing plans curbs on number of foreigners working in China
 
 
Beijing is planning to introduce its first-ever immigration laws in an effort to control the increasing number of foreigners coming to China to work.
 
With more and more people from overseas attracted by the economic opportunities available in China, the new law is expected to divide potential immigrants into different categories such as skilled and unskilled labour, according to the government's Xinhua news agency.
 
In 2007, almost 2.9 million foreigners were registered with the Ministry of Public Security as working legally in China.
That number is rising rapidly. Last year, there were 152,000 foreign resident workers in Shanghai alone, a 14 per cent increase on 2008.
 
The People's Republic of China has never before limited immigration, other than for health reasons, including a ban that was recently lifted on HIV positive immigrants. However, China's buoyant economy has resulted in a sharp rise in the number of illegal immigrants from bordering countries like Vietnam and Laos since the onset of the global financial crisis.
 
Vietnamese are especially valued by the factory owners of southern China, because of their willingness to work for wages of 450 yuan (£45) a month, less than half of what a local would get, and the ease with which they can assimilate into Chinese society.
 
Illegal immigrants from impoverished North Korea can also be found working on farms and building sites in northeast China, and there is increasing demand among the new urban middle class for Filipino nannies, who are prized for their ability to speak English with their charges.
 
China was once a huge source of economic migrants to other countries.
Now, the rise in the number of foreigners coming to work in the country is a reflection of how quickly it is moving up the global economic chain.
"Judging from the history of western developed countries, inward migration flows often reveal the appeal of a nation," said Zhang Jijiao, a migration expert with the Chinese Academy of Social Sciences.
 
While there is no timetable as yet for the introduction of the new immigration law, foreign residents will be included in China's next national census in November for the first time in an effort to monitor their numbers. Beijing plans curbs on number of foreigners working in China
 
Beijing is planning to introduce its first-ever immigration laws in an effort to control the increasing number of foreigners coming to China to work.
 
By David Eimer in Beijing
Gemini Monthly Salary Survey
 
salary survEvery month Gemini compile the most up-to-date and accurate salary trend statistics on the local Hong Kong and regional job market. 
 
 
 
 
A touch of humour...
 

thick

Gemini Regional  News
JM Gemini
 
shang
 
Gemini Personnel
Thailand
 
 
 
Need Staff?
Quick Links
Thought for the month

""By the time you can make ends meet, they move the ends"
 
 anonymous

Join Our Mailing List

Hong Kong
Gemini Personnel HK
6/F, ING Tower, 308 Des Voeux Road Central, Hong Kong.

Executive Division:
(852) 3552 9139

Permanent Division:
(852) 3552 9129

Contracting Division:
(852) 3552 9159

Administration:
(852) 3552 9100

Gemini Kowloon Office
(852) 2736 1161
 
---------------------------
China
JM Gemini China
Suite 13G, Shanghai Industrial Investment Building, 18 Cao Xi Bei Road, Shanghai 200030

Tel: (86) 21 64282460
Fax: (86) 21 64686478

---------------------------
Thailand
Gemini Personnel
Bangkok 5/F Maxim House Suite 501A, 112 Wireless Road, Lumpini, Patumwan, Bangkok 10330

Tel: (66) 2 650 8977
Fax: (66) 2 650 8137

---------------------------
Singapore
Gemini Personnel Pte Ltd
9 Temasek Boulevard
#18-04 Suntec City,
Tower 2
Singapore 038989
 
(65) 6238 0667