Shaun Rein takes the stage again in Forbes, debunking three myths about (business in) China that are no longer true and perhaps never have been.
1. China’s economy is export-led
2. China has a limitless supply of cheap labor.
3, Connections are everything
One the second point he argues that retaining talent has become more important than ever (and then we do not talk about the thousands of unemployed graduates, who still have to build up their qualifications):
At the white-collar level, most multinationals need to rethink their human resource strategies. Job-hopping is high, with many companies losing 20% of their employees a year. The overwhelming reason younger white-collar workers leave their jobs is not because their salaries are too low but because they see no career paths there.