The competition for qualified executives in China is fierce and the risks associated with an unsuccessful hire can be catastrophic. Widely cited research indicates that nearly half of new CEOs don’t make it past 18 months, and the costs of replacing them are staggering.
Direct costs include compensation, the impact on sales or lost market share, and duplicated recruiting investments. More indirect costs include lost momentum and negative impact on organizational, market, and customer confidence. Research confirms what business seasoned leaders know from experience: the wrong hire affects employee morale and productivity, client relationships, and economic performance.
These risks can be reduced and the converse benefits enhanced by leveraging retained executive search, sophisticated management assessments, and due diligence processes.
Ginkgo Search Partners will identify and deliver executives who will make an immediate impact. Our executive search experts have helped many of the most successful organizations operating in various industries to build their senior leadership teams in China. Our retained search services are focused on top and upper management, middle management, and senior expert searches.
Identifying and attracting this talent requires a rigorous approach combined with thorough understanding of different industries and functional roles. Our executive search consultants apply insight into clients’ strategic requirements and proven assessment tools to recruit leaders for your business in China who have the necessary skill, experience, and personal qualities to advance company strategies and achieve outstanding results.
We work across sectors and disciplines because we know that a search can only be successful if the executive recruitment consultant is fully aware of the client's needs and focused on results. Therefore we offer targeted retained executive search services in China matching to your specific industry needs.
We understand executive search as an extension of management consulting, which frequently provides significant benefits beyond search including assessing an organization and its culture, integrating a new executive for optimal success, and advising leaders on their professional development. Our executive search offering can be perfectly integrated with our leadership assessment and leadership development solutions.
Our primary mission is to provide top quality management for our clients that will bring them lasting and sustainable success and promises long-term and productive partnerships. Our tailor-made advice and understanding of the intentions and requirements of our clients are just as important as our intensive and continuous dialogues with our candidates. Ginkgo Search Partners is committed to the highest quality in the selection of our candidates.
Ginkgo Search Partners has developed a comprehensive methodology for successful search and selection of mid- and senior managers. This executive search process is divided into clearly defined phases which guarantee tailor-made search processing. Our goal is to present a selection of three to five qualified candidates to our clients within three weeks after the start of the assignment and subsequently guide successful candidates through the onboarding process.
For further information about the steps of the executive search process please read this article.
China is shifting from a low-cost production outsourcing location to a more mature market followed by increasing labor costs. Over the past years multinational companies have seen increased competition for executive talent from Chinese based companies which has shrunk the wage gap between local firms and their overseas counterparts.
China’s economy is booming and Chinese businesses are fighting hard to recruit the best talent locally and abroad. Executive compensation in China still differs from compensation in the U.S. and Europe but the landscape is changing rapidly. Although promotion and bonuses are the norm for compensation, now there are new elements at play, such as stock options, or the added pressure of accountability as Chinese-listed companies must now declare their executive's salaries publicly. This article gives a brief background to executive compensation in China and highlights current trends for local and expatriate pay for executive talent.
In 2016 the highest expatriate packages for mid to senior managers within the Asia Pacific region were paid in Japan with an average package worth USD 329,000. Mainland China is catching up fast and has reached the second highest expatriate package in the region. The value of a typical total compensation package (including cash compensation and benefits) for foreign executives in China increased to USD 290,000. This is up from the fourth position in 2015 with the cost of an average expatriate package having surged by 5% within one year.
The Chinese government is expected to implement personal tax relief policies that were designed to attract top executives to the country. The government also hopes that the new policies will benefit both large corporations and fast-growing startups to retain their brightest executive talent.
Business insiders in China expect a tax relief on noncash types of compensation to be offered to top corporate executives. It is one of the steps that Beijing is willing to take in order to keep highly qualified executives from leaving the country to pursue better opportunities overseas.