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Guest Comment: Why firms in China should focus their retention efforts on professional development
Professional development has many benefits for an organisation, which extend beyond the career progression of individual staff. This applies to the financial services sector as much as to other industries. So where’s development needed? Financial leasing companies and the life insurance sector continue to remain buoyant in Chinaand there is a big shortage of accountancy [...]
Banks in Hong Kong admit they face a clear and present danger: staff attrition to the corporate sector
It seems slightly counter intuitive, given that a lack of vacancies is forcing some workers to stay in their roles without any encouragement from their employers, but banks in Asia are facing a serious retention threat. An increasing number of people are leaving financial services this year for roles in other sectors, according to the [...]
Q&A: Mike Connarty, director of international investments at Standard Life, advocates learning Mandarin if you want to get ahead
Mike Connarty is based in Edinburgh but he’s an international figure in financial services. As director of international investments, Mike manages Standard Life’s fast-growing joint venture investments in India and China. If you want to work for him, you’ll need a genuinely international outlook – and ideally the capacity to speak Mandarin. Q: How long [...]
Tell us: Would you gladly give up your cosy cubicle for an “officeless office”?
Bid farewell to your own desk along with its comforting clutter – communal work stations, or hot desking, could be coming your way soon, if a recent Wall Street Journal report is anything to go by. Unassigned work areas seem to be a growing phenomenon as companies seek to cut costs. American Express is one [...]
It’s party time: Why Chinese banks love team bonding
Chinese employers are stepping up their team building activities this year in an effort to boost morale and help achieve annual performance goals. One Chinese financial services firm recently held “success seminars” for hundreds of its employees. One of the participants tells eFinancialCareers that he supports the programme because his own success contributes in a [...]
Mainland returnees: It’s still a struggle to land a job
A recent Shanghai Daily article reported on the difficulties that some overseas Chinese graduates face in getting a job upon returning to the mainland. Although the report isn’t financial-sector specific, it makes this point: “A certificate from a foreign institution isn’t a gold-plated guarantee; many companies are finding local graduates with work experience are better candidates. [...]
Less stress please: Why work-life balance is now a hot commodity for Chinese financial professionals
Work-life balance as a staff retention tool is gaining traction this year as the pressure on financial-sector employees in China mounts. In 2011 there were several cases of highly-stressed young professionals who died from overwork. Thanks to those incidents, candidates have become increasingly aware of the importance of a balanced life and have listed this in [...]
Why it’s still tough retaining financial services people in Asia – yes, even in this market
People in banking and finance aren’t leaving their jobs in droves in the current economic climate. Cindy Tan, director, Captiv8 Talent, says most employees won’t voluntarily resign, unlike in the same period last year when the outlook was rosier. That said, there are still people in Asia who are thinking of quitting even if they [...]
Recruiters beware: Cost-conscious banks are in the mood to do more of their own hiring
Many international financial institutions in China are on a drive to do more direct sourcing and become less reliant on recruitment agencies, according to delegates at yesterday’s eFinancialCareers roundtable in Shanghai, which was attended by 19 HR professionals. Although foreign firms in the mainland lag behind those in Hong Kong when it comes to in-house [...]
Do banks need to Google up their workplaces?
It’s no surprise that technology and creative companies have the snazziest offices. A cursory search online of the world’s best workplaces will throw up the usual suspects like Google, Facebook and Twitter. Given that financial firms rarely make an appearance on these lists – and with bonuses shrinking everywhere – perhaps they should create environments [...]
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