Imagine you are a HR manager employing non-Chinese staff in the Essay

Imagine you are a HR manager employing non-Chinese staff in the People's Republic of China, how would you recruit and prepare - Essay Example Introduction In the recent years, China has been in focus for its astounding growth rate and future potential. The country has recorded high growth rate of up to 13% and the power that triggers this rate of growth is its vast and varied population. Today, there are about 1.3 billion people living in China of which about 38% reside in the coastal areas where most of the industries are located. Of these about 72% of the people fall within the working group and literacy rates among the Chinese is about 96%. Unemployment in China is at 9%. China capitalises on its immense human resource and this is why it attracts such huge foreign flow of capital. Despite such a glorious economy and strength of human capital, China is not free from problems. Its human resources pose the greatest problem despite being its strongest factor. The country is plagued by concerns like foreign exchange risks and financial and currency risks but of these, the human resources top the charts of concerns for China in the present and near future (Lubman, 2010). Figure: top concern for China at present and the coming 3 years (Source: Eusmecentre, 2012) The figure above shows the respective ranking of the topmost problems faced by China at present and also predicts the future ranking of these problems in the country. We observe that Human resource issues like availability of qualified employees are the biggest problem with companies in China, both domestic and international. The study also indicates that HR shall remain the topmost concern for China in the coming years as well. Problem The shortage of qualified staff has created an overheating in the Chinese labour market. There is a widespread lack of experienced and qualified employees. Adding to woes, employee turnover has become a critical problem that arises out of this shortage problem. In terms of statistical data, one out of every three employees runs a high risk of turnover in China. HR managers and executives have a critical concern of retaining their best talents. This number is almost double of what runs in other global markets. China’s employee situation has turned into a poachers den where existence and growth of foreign multinationals has generated a huge demand for talented, experience and qualified staff. In case of employee availability, the demand situation far exceeds the supply scene. The big fight persists among both domestic and foreign companies and this buyers market is plagued by presence of employees who always look for better options (Thomson, 2011). Most Chinese organizations try to combat the situation through an out paying strategy to attract talent into their companies. It has been realised that high pay attracts employees and what also acts as a catalyst to employee retention is strong employee development potential and attractive career paths. In China, candidates are attracted more towards job opportunities that promise a better pay. But with time, as the candidature shifts towards the younger generation, the demand for career opportunities that are differentiated and developmental opportunities tend to attract employees more. The general belief in most companies is that they need to design better pay packages so as to fight of poachers, or in other words, competing companies. However, it is wrong

The Role of the Financial manager SLP Assignment

The Role of the Financial manager SLP - Assignment Example Coupled with the recent developments in the financial performance successes, Apple Inc.’s status as a towering figure among publicly traded companies continues to cement its business. Based on the strong brand presence and financial successes reported continuously at the company, success projections in the near future appear promising due to the sustainability of its business model. The utilization of high-end technologies at Apple Inc. continues to provide a promising future for the company’s growing market. The size of Apple Inc. in the American and global smart technologies segment correspond with the recorded revenue growth hitting $42.1 in the fourth quarter of the just ended trading period (Apple Inc., 2014). Further projections on the company’s future relate to the company’s ratings on management effectiveness standing at 14.96 per cent and 33.61 per cent for return on assets and equity respectively. The sustainability of the software and hardware model at Apple’s products portfolio enables the company to challenge for top honors in the technology market. Apple Inc.’s towering financial power elevates it to the top of the list of American multinationals supporting tens of billions of dollars as stable investment value. Recent income figures in excess of $325 billion supported by quarterly gross margin growth of 38 per cent give an indication of the size of the company (Apple Inc., 2014). In these financial figures, $70.54 billion of gross profit implies that the company posted positive operations in the market that it continues to dominate. According to Yahoo Finance (2014), Apple Inc. trades as AAPL at Nasdaq stock market, with the recent stock market performance standing at a stable price of $109.70 (week opening Nov 10). The price of Apple Inc.’s share a year ago stood at $74.28, which gives an indication of growth by a growth of