Companies

SOEs in bid to hire overseas managers

By Zhang Zhao (China Daily)
Updated: 2010-08-24 09:17

Beijing - More than a dozen State-owned enterprises (SOEs) will hire new managers by the end of the year after a worldwide recruitment campaign, the centrally administered State-owned Assets Supervision and Administration Commission (SASAC) announced last week.

Entrance to the SASAC: The door has been open for international recruitment of high-ranking managers since 2003. [China Daily]

Recruitment will begin Aug 30. The positions are open to all nationalities, the watchdog said.

Four general managers and eight assistant managers will come on board during the eighth and largest global hiring program by the SASAC.

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The new hires are part of the nation's "1,000-talent" program offering high salaries and attractive funding to overseas employees who want to work in China.

"By upholding fair and equitable principles, we have established a good global reputation," said SASAC minister Li Rongrong at an Aug 13 meeting.

Since it was first established in 2003, SASAC has employed 111 high-ranking managers. Its recruitment model helps SOEs develop a competitive edge.

"The talent we've selected plays a crucial role in boosting innovation capacity," said Li.

Li praised human resources managers, and called for an improved evaluation system to attract even more talented persons.

But experts warned that not all overseas managers will thrive at SOEs.

Only about 30 percent of SASAC-recruited managers remain in their new positions, a survey by Shanghai's Tacter Consulting Company revealed.

"We've tried to carry out an internationalized strategy in the past five years," said a central SOE president who declined to be named. "We hired 20 overseas managers, but just two of them stuck around."

Zhu Boshan, general manager of Tacter Consulting, noted that many managers find it difficult to become part of a team. "Other employees reject them," he said.

However, the SASAC believes its latest hiring initiative is a step towards SOE internationalization. The commission vows it will optimize recruitment and evaluation procedures.