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China's manufacturing sector has experienced significant HR challenges over the past five years. The minimum wage has doubled over this period while operator and worker salary increases have averaged around 10 percent a year. Still, the turnover rate for these fundamental roles has remained extremely high, and recruitment and retention difficulties are top challenges for companies manufacturing in China.
Against this background, many companies are considering whether to move their plants to lower salary regions in China, or leave the country altogether. How can we cope with rising compensation costs? How can we get operators and workers to stay for even just for one more quarter?
Against this background, many companies are considering whether to move their plants to lower salary regions in China, or leave the country altogether. How can we cope with rising compensation costs? How can we get operators and workers to stay for even just for one more quarter?
Towers Watson, one of the world's leading HR consultancies, organized a worker/operator compensation survey in China this October. TW Senior Manager Yu Liwen will present information and trends from this survey, providing insight to help you to better understand the labor market trends over the next five years.
NOTE: The presentation will be conducted in Chinese, with English PowerPoint slides.
NOTE: The presentation will be conducted in Chinese, with English PowerPoint slides.
