Spring Professional Greater China released the Future of Work Under Megatrends Whitepaper
Spring Professional Greater China released the Future of Work Under Megatrends Whitepaper
Despite the negative impact businesses faced from financial performance and business investment during the terrible outbreak of COVID-19 in Greater China, this crisis is a surprising timely wake-up call to many companies who have not taken worldwide megatrends impact seriously in their business planning.
July 28th, 2020 Shanghai Spring Professional Greater China released a thought leadership whitepaper the Future of Work Under Megatrends in July 2020, aiming to provide the insightful and valued findings and suggestion on talent strategies for business transformation under the worldwide megatrends for employers in Greater China. Since March of 2020, thousands C-suite executives, hiring managers and HR leaders have been invited to joined in the research initiated by Spring Professional, sharing their thoughts on the future of work trends under megatrends.
This report concludes the impacts for enterprises owing to megatrends from three perspectives: Business Transformation by 2025, Professional Talent Strategy Readiness and Employment by Function and Soft Skills. Eight key finds have also been disclosed:
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A severe lack of attention is found on the planning of transformational talent pipeline building in companies in Greater China. 76% companies confirmed business transformation under megatrends impact on market, industries and companies, yet only 29% are prepared with the five-year talent pipeline building strategy.
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IT & Internet sector will stand on the front-line of business transformation followed Industrial Manufacturing and Life Sciences. Future talent strategy at technology companies will focus on people attraction, especially at small and medium size businesses to compete with big players in the market.
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On-going digitalisation will be the biggest impact to business strategies and operations in different industries. Medium-sized companies are expected with flexibility and capacity to achieve promising growth by 2025 if start looking into the journey of transformation and innovation now.
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28% companies prioritize the importance of talent retention higher than other talent strategy elements. On top of leadership trainings and career path design, it is brought up that internal shift, cross-functional or external collaboration, project initiation opportunities are crucial not only to the growth but also the retention to mid to senior level professionals.
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It is found that business changes influencing the functionality of different departments the most on mid to senior level of Operations, Strategy and Marketing positions by 2025. With upskilling mentioned the most mentioned topic to support talent transformation, plans to upskill talent in these functions can be put in the agenda.
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People development investment is viewed as Capital Expenditure (CAPEX) by 33% businesses. More small and medium size companies categorize talent development spend as strategic investment than large organisations, expecting value or profit return in the long term.
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COVID-19 paused 2020 hiring plan of many companies. Data reveals that 56% companies will open less than 10 newly created roles and only 9% businesses confirmed that more than 70 new headcounts will be created throughout this year. Employers expects hiring demand to gradually bounce back from quarter three 2020.
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Partnering up with reliable recruitment firms to continuously bring excellent people from outside to inside to support business transformation with the right talent is highly recommended by HR leaders. External talent importation is regarded as healthy stimulus to increase team vitality to enhance company competitive advantages.
We sincerely hope our findings and advice upon the conduction of this thought leadership whitepaper Future of Work under Megatrends in Greater China 2025 will provide companies with insight to act on talent problems or along the journey of transformation in the next five years. To receive the full version of the report, we warmly welcome any requests from all Spring Professional’s official channels or recruitment consultants you are familiar with.
For any media release and commercial cooperation, please contact Maggie Wu.
Maggie Wu
Senior Marketing Manager, Asia
Email: maggie.wu@springasia.com
Contact: +21 8012 6008
The ownership of this whitepaper belongs to Spring Professional Asia. Any third party that forwards this report on other platforms or quotes its contents must obtain authorization from Spring Professional Asia via marketing@springasia.com, and note it in forwarding and citation.
About Spring Professional
Spring Professional is the wholly-owned subsidiary of the Adecco Group, the world leading workforce solutions company. Our focus is exclusively on the permanent recruitment at the middle to senior and executive search levels. We bring great people to great organisations across 23 locations and 90 offices worldwide.
Spring Professional is a technical recruitment company specialising in Engineering, Information Technology, Life Sciences and Property & Construction supported by Supply Chain & Logistics, Finance & Accounting, Human Resources, Legal and Sales & Marketing in Greater China. As part of a global leading company, Spring provides professional talent recruitment solutions with a diversified range of value-adding services including sourcing intelligence, digital advertising and talent assessment.
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