According to Ministry of Commerce (MOFCOM), China's ODI in 2013 reached 107.84 billion US dollars, and Chinese enterprises employed 967,000 foreign employees overseas. “It is the strategic needs to cultivate talent in host countries for Chinese multinationals.” NBS President Prof He Zhiy remarked at the Seminar on Overseas Talent Cultivation Strategies for Chinese Multinationals held on December 24th.
The Seminar was hosted by NBS and presided over by Prof Wang Zhongming, former Deputy Secretary-General of the All-China Federation of Industry and Commerce (ACFIC). It is attended by representatives from Chinese Academy of International Trade and Economic Cooperation (CAITEC) of MOFCOM, the International Cooperation Center of the National Development and Reform Commission(NDRC), China International Cooperation Association of Small and Medium Enterprises (CACASME), the China Private Economy Research Society, Bank of China (BOC), TCL Multimedia, Zoomlion Heavy Industry, New Hope Liuhe Group, China Energy Conservation and Environmental Protection Group, Peak Group, Beijing Foreign Enterprise Human Resources Service Co. Ltd. (FESCO). All the participants agreed on the importance and necessity of studying overseas talent cultivation strategies for Chinese multinationals and shared their views on related policies, success stories and major challenges.
Secretary Ren Hongbin of CAITEC remarked, “Last year Chinese FDI and ODI were basically at the same level. The policy to encourage ‘high-quality bringing in and massive going out’ would continue. However, the capacity of Chinese enterprises to allocate global resource is yet to be improved, in particular, so is personnel training.
Prof Chen Chunhua, Co-chair and CEO of New Hope Liuhe Group, introduced the company’s success stories of tapping overseas market in countries with contrasting culture and unique religions and customs. New Hope Liuhe Group highly values the cultivation and training of overseas non-executives. It initiates a customized training program together with NBS, which will start in March 2015. Fu Heping, HR manager of the overseas business center of TCL Multimedia, presented some M&A case studies in the early days of the company’s internationalization process and the negative ramifications due to lack of international talent. He proposed that cultivating overseas talent is essential given the rising cost of expats.
Zhang Wenxiang, Director of BOC Case Center stated that BOC attached great importance to international case studies in finance and executive training, and came to understand the role of training overseas non-executives in internationalization. Mr. Lu Qing, Assistant General Manager of Zoomlion introduced Zoomlion’s practice in the dissemination of corporate culture and in integration by winning foreign employees. Mr. Liu Xiang, PR manager of Peak Group introduced their global talent cultivation practices such as its overseas university entrepreneurship program and in-house business school. He also expressed the company’s urgent need for minor-language-speaking commercial talent.
The presentations of the companies reflected the need for overseas talent, especially those who are fluent in both languages, identify themselves with the corporate culture of the parent company as well as Chinese culture and therefore can truly integrate into the companies.
This seminar has put overseas talent cultivation with case studies and theoretical research and cross-industry cooperation on the agenda. Liang Guining, CAITEC Director expressed his willingness to work with NBS and Chinese multinationals to conduct in-depth study on the topic. Zhang Yanzhen, Vice President of FESCO said she hoped that their company could offer some help for the study by providing the company’s large pool of case studies regarding talent cultivation in China by multinationals.
Based on the business needs and government institution’s recommendations, NBS will conduct the Program of Overseas Talent Cultivation Strategies for Multinationals together with SASAC Research Center, CAITEC and multinationals. The program will be focused on success stories of localization of multinational, in particular, the stories of multinational companies from Japan, Korea and Hong Kong, Macao and Taiwan region. It will also analyze the go-global process of China's multinational. Based on the case studies, the programs aims to come up with Overseas Talent Cultivation Strategies and planning specific to Chinese Multinational.
In addition, NBS is to launch “The Most Respected Chinese Enterprise Award " next year with PKU Business Review, Chinese Enterprise Research Institute, Guanghua School of Management, Peking University. 4000 questionnaires will be distributed worldwide via the international network and professors of NBS to find out which enterprise(s) is/are most respected by the employees and communities.