While candidates should be prepared for structural and cyclical factors affecting the Chinese job market, opportunities are also becoming evident for foreign human resources (HR) companies to address the ongoing changes in the country, says Jean-Christophe Deslarzes, chair of the board of directors of Zurich-based HR services provider The Adecco Group (TAG).
Deslarzes made the comments in an interview during his visit to China in late October.
Structural factors, which are mainly skills gaps resulting from rapid technological progress and industrial upgrading, are making a big difference in the Chinese job market, he said, adding that among the many technology advancements, artificial intelligence (AI) is the leading factor in China that has exerted the biggest influence on the workplace.
On the one hand, jobs requiring little deep human behavioural traits such as creativity, empathy, sensitivity, collaboration or teamwork will be most impacted by AI. On the other hand, AI adoption has already helped to improve workplace efficiency in China, he said.
As TAG discovered in its latest report released in October, Chinese workers are saving 70 minutes a day on average by adopting AI, which is above the global average of 59 minutes.
Thanks to the productivity improvement, 34% of Chinese employees said that they are spending more time on training and upskilling, 24% said they have more time to do creative work, while another 22% reported they have more time for strategic thinking. These findings apply to all industries in China.
The changing landscapre indicates opportunities for HR companies’ outplacement and career transition services, which help those between jobs with the transition to new employment.
According to global consultancy Verified Market Reports, China’s outplacement services market was valued at about US$3bil in 2023 and is projected to reach more than US$5bil by the end of 2030, with a compound annual growth rate of more than 7% during the forecast period from 2024 to 2030. — China Daily
