T is for talent in China

03-February-2010 | By Vanessa Townsend

Retail and financial services will be the most important areas of activity in China in 2010, according to a Shanghai-based headhunter.

Stephen Fisher, senior client partner at executive search firm Korn/Ferry International’s Shanghai office in China, told Recruiter that although financial services are somewhat held back in mainland China, due to regulatory restrictions, investment banking and corporate finance markets are picking up in Hong Kong.

“However, demand will accelerate [in China] when regulatory reforms finally get introduced in China - which will come about due to the pent-up demand for financial reforms,” he explained.

Demand for high-end luxury goods and clothing is also coming back strongly after a big decline.

Korn/Ferry is noticing growing demand for chief finance officers (CFOs) in China, “mainly from Chinese firms looking to globalise or undertake an IPO [initial public offering]”, says Fisher. Strategic HR positions, such as heads of HR, are also extremely hard to find. “PRC [People’s Republic of China] candidates are experienced in HR but are lacking in global HR skills. Senior HR generalists are extremely hard to find,” he said.

See also Market Indicators, for the 2010 outlook for executive search.