The Evolution of China’s Talent in the Technology Sector
IIC Partners has issued an article on “The Evolution of China’s Talent in the Technology Sector” by Norman Chang, a Consultant for PCI Executive Search Consultants in Beijing.
In the early 1980s, China was a huge unexplored market for investment. Many well-known multinational technology companies such as HP, IBM, and Motorola entered as pioneers into the Chinese market to reap the benefits of China’s exponential growth. At the time, these large multinational companies hired experienced leaders from the four “Asian Tigers” (Taiwan, Hong Kong, Singapore and South Korea).
Each of these countries had consecutive economic growth of approximately 10% each year from the 1970s to 1990s. Many of these expats were provided generous packages including a 30% to 50% salary increase, housing, education, family travel expenses and a company car. As a result, middle management and less senior executive positions were sourced with local talent. Many Chinese native technology graduates and managers had high motivations to work at large multinational companies because the salaries at these firms were roughly quadruple that of a domestic company.