Here is a summary of what we predict the talent trends will be for China this year.
A warm welcome to TalentStork’s Salary Guide 2021 for China – a compilation of the salary ranges across various industries in China. Our guide is based on the analysis of permanent placements made across China in 2020.
We do this to support our HR partners as well as candidates under our charge to understand the compensation developments in their own segments a little bit better. Salary ranges relate to base salaries are approximate guides only, they are the best guess estimation based on the data that we have accumulated of our candidate pool as well as from government data and surveys that we have done early this year.
For this edition, we will be providing our guidance on four segments aligning with our own function and industry focus.
Sectors included are:
- Logistics & Supply Chain
- In 2021, China is expected to further expand, with its domestic market is becoming increasingly normalized, head of developments are more in political relationships.
- Semiconductor development is of closer significance, as sanctions increased China’s drive to become more self-sufficient in semiconductor chips.
- More Chinese companies may expand into Southeast Asia to diverse risks from uncertain US-China trade war.
- The supply chain industry has already digitalized, smart logistics would be the direction for companies to monetize from.
- Technological sector will continue the growth across sectors including education, healthcare and even recruitment. The focus is placed on technological innovation to achieve self-sufficiency, forging ahead with China’s 14th Five-Year-Plan.
- E-commerce market is large in China, and Chinese consumers are highly demanded what e-commerce companies could offer. For foreign businesses hoping to enter the space, they might face a high barrier of entry, with big giants still dominating the market.
- Manufacturing players in relatively sophisticated industries which are high-tech and automotive have no plan to shift their production factories out from China, as the world’s reliance skewing towards software and robotics.
- China aims to be self-sufficient in semiconductor industry, but attracting young talents to join the chip manufacturing industry could be a challenge as they prefer working in flexible startup environments or internet companies for their first employment. China remained a shortage of skilled professionals to support the labor needs in this industry.
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