China's Talent Crunch
Source: American Management Association
In recent years, finding and financing the right talent has become as much a matter of geography as of costs. Therefore, it makes sense that companies have flocked to China to set up shop and take advantage of the massive working-age population and low wages. What a surprise it was to find, then, on a recent study tour of Beijing, Shanghai and Guangzhou, that every HR or general manager interviewed was dealing with talent shortages. Many of these businesses were being forced to rethink their growth strategies - not because of souring economic conditions or a lagging product demand - but because they can't find the talent they need.