Archives May 2008

Hiring expectations decline in 2nd quarter

Multinational companies’ (MNC)’s hiring expectations have largely declined in the second quarter, after sustaining a high level for a long period, but are rising in some sectors, a recently released human resources (HR) report said.

However, most respondents of globally leading recruitment and HR management firm Hudson’s survey remained optimistic, saying they considered an imminent recession in China’s employment market unlikely.

The global Hudson Hiring and HR Trends Quarterly Report surveyed 718 executives of MNCs in China from sectors including banking and financial, IT and technology (IT&T), manufacturing, consumer, and media, public relations and advertising.

It said overall hiring expectations in the emerging market are declining, with 52 percent of respondents expecting to increase headcount, compared with 61 percent in both the previous quarter and the corresponding period of 2007.

The report also found 14 percent of respondents in China expected the country would face a recession in the next six months – fewer than in any other Asia market surveyed. In Japan, for example, 41 percent of respondents believed a recession was imminent.

Of those anticipating a recession in China, 73 percent believed it would impact their industries.

At 57 percent, the banking and financial services sector reported the highest hiring expectations – although 12 percentage points fewer than in the first quarter.

Some banks are more cautious in their hiring projections, particularly in the consumer-banking sector, where they haven’t yet obtained all required licenses, Hudson’s Shanghai General Manager Angie Eagan said.

Employment expectations are rising in the media, public relations and advertising industries, where 55 percent of respondents forecasted headcount growth, compared with 47 percent in the first quarter. Many agencies started hiring after Chinese New Year, when clients had finalized their marketing budgets.

The IT&T segment also reported rising expectations, with 55 percent of respondents saying they will hire more staff – compared with 50 percent in the first three months of 2008. The sector remains buoyant as companies continue localizing IT operations.

Manufacturing companies’ expectations increased slightly, with 53 percent planning to increase hiring, compared with 51 percent in the first quarter. Construction of MNCs’ new manufacturing facilities in China is mostly driving demand for workers.

Expectations underwent the steepest fall in the consumer industry, plummeting to 45 percent from 72 percent in the first quarter.

Hudson said many companies in the sector have been expanding headcount for a long time and have by now filled most positions, ushering the industry into a consolidation phase.

Recession doubted

Only 14 percent of respondents in China forecasted a recession in the next six months, reflecting the country’s economic buoyancy. Responses from China were fairly consistent across industries on the issue, although at 21 percent, those from the IT&T sector were most inclined to expect a recession.

“This may reflect a continuing caution in the wake of dotcom failures, as most companies in this sector are busy and are recruiting additional staff,” Eagan said.

Most firms would adopt headcount freezes in a recession, with 84 percent of respondents saying they would use the policy to weather the tough times.

Use of salary freezes was the second most-frequently mentioned recession-survival method, with 35 percent of respondents in China saying they would use the policy – more than in any other surveyed Asia market. Firms in China were also the most likely among those surveyed on the continent to cut training in the event of a recession, a measure 18 percent of respondents mentioned.

Media, public relations and advertising firms were particularly reluctant to cut staff, with just 15 percent mentioning the option. However, they were most likely to freeze headcounts and salaries, at 94 and 48 percent, respectively.

At 33 percent, banks were the most likely to cut staff in a recession, as high salaries are typical in the industry.

Firms in the IT&T sector were most likely to cut training, with 44 percent of respondents mentioning the option. “Technical training can be very expensive in China,” Eagan said.

HR challenges

As in the other surveyed Asia markets, “hiring the right staff” and “retaining talent” remained the most critical challenges.

Across all sectors, 48 percent of respondents said recruitment was the greatest challenge, while 27 percent said retention was.

Compared with other surveyed markets, respondents in China most emphasized recruitment over retention. The country also had the highest percentage of firms identifying recruitment as the greatest challenge and the lowest identifying retention.

At 65 percent, the media, public relations, and advertising sector had the most respondents identifying hiring the right staff as the greatest challenge. The market for talented professionals with relevant experience has remained tight, especially at senior levels.

Retaining talent is a major concern for the banking and financial services and the manufacturing sectors. In the banking and financial services sector, 30 percent of companies identified this as their most critical challenge, as did 28 percent in manufacturing. Currently, companies in both sectors are focusing on retaining high performers with specialized skills.

Hard to find staff

Fifteen percent of employers across Chinese mainland are finding it difficult to fill jobs, according to an annual talent shortage survey released yesterday by Manpower, a world leader in the employment service industry.

The top three vacant jobs are technicians, sales representatives and management or executive positions, and the ratio is four percentage points lower than that of 2007 survey result, said the January 2008 survey, based on 3,900 employers in Chinese mainland.

Compared with 2007, technicians top the list fill for the second year in a row. Sales representatives moved from third to second, and management/executives, ranked fourth in 2007, moved up to the third-most difficult job to fill. In addition, labor positions fell from second to ninth.

“Judging from survey results of the last three years, talent shortage remains a problem in Chinese mainland,” said Lucille Wu, managing director of Manpower Greater China.

“It require joint efforts from companies, individuals and the government to solve the problem,” said Lucille, adding companies could invest more in employee training, strengthen cooperation with educational institutions, encourage employees to extend their working scope and help upgrade employee skills.

“As for individuals, they can develop their own skills, attend more training and review their own career interests. The government should be committed to a long-term talent training plan, encouraging the development of vocational education and cooperating with companies to forecast future talent needs,” said Lucille.

The top 10 positions that employers in Chinese mainland are having difficulty filling in 2008:

2008 Hot Jobs

1. Technicians

2. Sales Representatives

3. Management/Executives

4. Sales Managers

5. Machinists/Machine Operators

6. Engineers

7. Production Operators

8. Skilled Manual Trades (primarily electricians, carpenters/joiners or welders)

9. Laborers

10. Restaurant & Hotel Staff

2007 Hot Jobs

1. Technicians

2. Laborers

3. Sales Representatives

4. Management/Executives

5. Engineers

6. Customer Service Representatives/Customer Support

7. Researchers (R&D)

8. Sales Managers

9. Supervisors

10. Designers

Takashimaya plans Shanghai outlet

TAKASHIMAYA Co plans to invest as much as 5 billion yen (US$48 million) to open a department store in Shanghai in its first foray into China, people familiar with the company’s plans said.

The 55,000-square-meter outlet may open as soon as 2010 as Japan’s third-largest department-store operator seeks to offset a decline in its home market, the three people, who refused to be identified before talks with a Chinese developer are completed, said.

China creates 12 mln jobs for urbanities in 2007

BEIJING, May 20 (Xinhua) — China created 12.04 million jobs for urban dwellers in 2007 and helped 5.15 million laid-off workers find new jobs, said the Ministry of Human Resources and Social Security on Tuesday.

The urban unemployed population was 8.3 million at the end of last year, with the urban registered unemployment rate standing at4.0 percent, down 0.1 percentage point year-on-year, according to a report jointly released by the ministry and the National Bureau of Statistics.

The report revealed that the average annual salary of urban employees reached 24,932 yuan (3,573 U.S. dollars), up 18.7 percent year-on-year in nominal terms and up 13.6 percent adjusted for inflation.

The Ministry of Finance said earlier this month that it would allocate 26 billion yuan this year to help more people find jobs.

In the first quarter, 3.03 million urbanites found a job, or 30percent of the annual goal of 10 million. Meanwhile, 1.28 million laid-off workers were re-employed, or 26 percent of the annual target of 5 million.

China embraces the fast line

CHINA yesterday announced plans to push forward the reshuffle of its telecommunications industry which will split its smaller mobile operator and give its mobile business to two fixed-line operators.

The country has encouraged China Telecommunications Corp to “buy” China United Telecommunications Corp’s CDMA (code-division multiple access) network, while China Unicom’s GSM (global system for mobile communications operations) will be merged with China Netcom, the Ministry of Industry and Information, the National Development and Reform Commission and Ministry of Finance said in a joint statement.

The announcement came after China Mobile Communications Corp announced the takeover of fixed-line operator China Tietong Telecommunications Corp on Friday.

China will issue the licenses for third-generation, or 3G, mobile services after the reshuffle is completed, the statement said.

After the revamp, China will have three large telecommunications carriers.

The industry reorganization will cut telecommunication costs, avoid duplicated investment in networks and lift phone penetration nationwide.

It will also fast-track the merger of mobile and fixed-line communications, according to a KGI Securities telecommunications report.

China is seeking to boost competitiveness at fixed-line operators, whose revenue is slowing as more people choose mobile services, Xi Guohua, vice minister of the Ministry of Industrial and Information, said previously.

“The revamp will change the market structure,” said Sandy Shen, a Gartner’s analyst based in Shanghai. “China Unicom and China Telecom will benefit from it but China Mobile will continue to dominate the market for a period.”

It will take 12 to 18 months for the carriers to finish the reorganization and then China will prepare to roll out 3G services, which allow faster video and Web downloads.

China Mobile’s 3G trial service made its public debut in Shanghai on April 1 and attracted huge crowds.

Revenue Manager (5 star Hotel, Shanghai, China)

POSITION: Revenue Manager
DEPARTMENT: Revenue
RESPONSIBLE TO: Director of Business Development

RESPONSIBLE FOR: Rate and space decisions whilst maximising occupancy/room rate at all times, implementing an effective rate structure and maintaining a consistently high standard of operation customer service within the group and individual reservations department, has a direct line of authority over all reservations sales agents within the hotel and a liaison role with sales and all other departments.

RESPONSIBILITIES:
Commercial Awareness/ Ensure commercial management techniques of availability
Influence control are applied to achieve a maximisation of rooms’ sales and revenue for the hotel. Ensure availability is reviewed as per required standards and all restrictions are recorded.

Supervise the taking of reservations and operate systems in accordance with company standards.

Manage group blocks to ensure accuracy of business on the books.

Ensure all activities and traces are followed up on in a timely manner and results of such recorded.

Conduct quality control checks on all revenue management systems to ensure data accuracy.

Ensure the department operates with a sales attitude and all personnel are aware of Sales opportunities within the hotel that will assist with the maximisation of revenue.

Develop the reservations and group & tour teams to maximise revenue on every call/enquiry.

Apply an aggressive overbooking policy and educate team to accept through benefits of results achieved. Yield overbooking decisions must be adhered to or escalated to Regional Revenue Manager if too soft or aggressive.

Maintain a consistent selling strategy across IDeaL Yield, Fidelio Front Office, GEM and HILSTAR, NETREZ, Online Travel Agencies (OTA), Third Party Intermediaries (TPI), etc… ensuring maximum use of availability controls in all systems.

Maintain accurate ongoing records of controls applied to all systems.

Pro-active evaluation of availability controls, recommending necessary strategy changes.

Prepare and recommend future strategies to the DBD for presentation at the weekly business focus meeting.

Chair weekly availability and revenue meeting and present a range of reports to be discussed for tactical and strategic discussions to maximize yield.

Update selling scripts when of benefit to ensure user friendliness and maximisation of key benefits.

Ensure to explore all revenue opportunities in all systems, e.g. Netrez, Hilstar, TPI. OTA, etc… by exploiting, developing and maintaining knowledge of the systems and the commercial application of them.

Remain fully conversant with the uses & applications of all systems relating to revenue management.

Audit operating standards & procedures in the reservations and group & tour department to ensure they comply with company practices.

Planning Ensure accurate advance booking count and forecasting is carried out.

Prepare a daily three month business outlook by market segment and monitor actual versus forecast for plan achievement.

Record and analyse all refused, lost, cancelled and waitlist business for both rooms and C&B, ensuring reasons are tracked. Propose and implement changes to maximise RevPAR / RevPASM.

Fully introduce the use of yield planners and selling matrix for both rooms and C&B.

Ensure effective rate structure and that all the rates are loaded by accurate completion of all rate databases.

People Management Carry out all interviews for prospective reservations sales agents, ensure departmental orientation is carried out for new members of the team and supervise training, training schedules, records and corrective/re-training.

Ensure the well being of all reservations department personnel, compile departmental working schedule and ensure departmental meetings are held daily.

Implement a full training plan within the Reservations team to develop all personnel to their full potential.

Ensure Job Skills Training Programme (JSP) is followed for all new employees.

Training records must be kept updated and planned training completed.

Conduct Annual Appraisals with all team members as means of development.

Actively develop team members skills and performance through coaching and training.

Compile departmental work schedules and manage departmental payroll in line with budgets.

Schedule annual leave during low demand periods to maximise payroll savings.

Developing Relationships Develop and maintain a high level of communication within the hotel, all major sources of business and all national sales offices and advise the DBD / Sales of any feedback.

Develop and maintain a high level of communication with competitors.

Analysing Information Monitor manual or automated yield system and validate that the yield actions are consistent with both property and market conditions and escalate any concerns to the Regional Revenue Manager.

Complete all tasks for IDeaL Yield as per the checklist.

Analyse production statistics and yield information to identify potential new business, markets, trends and highlight findings to DBD / Sales.

Check competitor strategy on a regular basis reviewing rates and availability.

Keep up to date with global, local and environmental issues impacting your city and hotel.

Using knowledge, aid decision making re alternate business both strategically and on a tactical basis.

Ensure yield exemptions are investigated & analysed and new business opportunities identified.

Prepare and analyse all appropriate reports to present at the weekly business focus meeting.

Prepare and present at weekly business focus meeting an outline of risks and opportunities relative to meeting room versus bedroom availability.

Complete and analyse the month end reports.

Analyse and supply data to the DBD to assist in the preparation of the annual plan and rate reviews.

Communication Ensure the revenue team are aware of all revenue targets and
are kept informed of performance results.

Communicate with the Director of Business Development all key developments of the reservations/revenue department and make recommendations for planning and implementation of new and better working practices into revenue management incl group, sales and front office.

Ensure regular communication meetings are held within the reservations team.

Attend daily revenue team briefing by Director of Business Development.

Attend head of department meeting.

CONSTRAINTS: Adhere to departmental operating expenses as laid out in the
plan/forecast.

Comply with all company policies relating to rate and space decisions.

Comply with all systems and procedures as laid down by the Director of Business Development.

QUALIFICATION: Minimum of 3 years in a leading role in revenue / reservations management. Experience in an Intl / Asian environment.

University degree in hotel mgt / tourism preferred

Excellent communication and analytical skills

People mgt skills, e.g. develop ‘High Potentials’ & ‘High Value’ people

Knowledgeable in daily planning / trend forecasting

Creative and dynamic individual that questions the norm and identifies new ways how to be better than competitors to ensure max MPI and RGI

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* Please send us your complete resume (both in Chinese and in English to: ‘topjob_z_hotel@dacare.com'(Please replace “#” with “@”)
* In the email subject MUST you plus the position name in either En or Ch

Accounting Manager (fi182sh)

Job Title: Accounting Manager
Report To: Finance Controller
Location: Shanghai
With operations in 50 countries and 68,000 employees, our client is a world leader in Mission-critical information systems for the Aerospace, Defense and Security markets with its global network of 20,000 high-level researchers.
Our client’s rich history goes back well over a century. Built slowly and with careful planning, the Group boasts remarkable cohesion and strength, and has often proven its ability to adapt its structures to prevailing conditions.
Leveraging a global presence and spanning the entire value chain, from prime contracting to equipment; our client plays a pivotal role in making the world a safer place. With the development in APAC, especially in China, they are looking for talents to join them.
Job Description:
Responsibilities:
1. Generating accurate and in time monthly, quarterly and annual reports under PRC GAAP and IFRS;
2. Prepare costing transactions, maintain and reconcile all cost related ledgers and sub-ledgers. Annual budget process
3. Responsible for the month end closing, make Balance sheet, profit report, Rolling forecast and some special report requested by the corporation, analyze and explain the monthly and quarterly expense fluctuation.
4. To maintain existing accounting system and reporting procedures. To handle tax regular issue and annual corporate income tax clearance.
5. To monitor/handling the general office accounting G/L transactions, including, but not limited to, payments, employee expense claim, cashier, etc. on timely and accurate basis.
6. To monitor Credit control. To prepare and review the monthly financial statements to make sure the reports are accurate and in compliance with local statutory and HQ requirement.
7. To implement and monitor financial policies and procedures ensuring compliance with external statutory regulation and internal control requirements.
8. To support budgeting and cash forecasting.
9. To maintain good contact and relationship with local tax authority and supervise the handling of tax filing.
Requirement:
1. Solid background in finance and accounting area;
2. Above 4+ years working experience in the finance/accounting department;
3. CPA or ACCA qualification?
4. Strong financial analysis skills, and business support mindset
5. Willing to work under pressure and passion to take challenge
6. Good communication and interpersonal skill
7. With commitment, teamwork spirit and sense of responsibility
8. Fluent in both written and speaking English

* Please send us your complete resume (both in Chinese and in English to: ‘topjob_fi182sh@dacare.com'(Please replace “#” with “@”)
* In the email subject MUST you plus the position name ?in either En or Ch ?

Lenovo sees profit more than doubled

LENOVO Group Ltd, the world’s No. 4 personal computer maker, announced yesterday its net profit in the first quarter more than doubled as a result of a one-off gain from the sale of its cell phone unit and strong revenue from the Chinese market.

Lenovo posted a net profit of US$140 million between January and March against earnings of US$60 million a year ago. The first quarter net income included a US$65 million gain from selling its money-losing mobile phone business. The result beat expectations of US$129.2 million by analysts polled by Reuters.

The revenue, excluding the mobile handset business, rose 13.5 percent year on year to US$3.7 billion, higher than the 10 percent revenue growth projected by Citigroup’s analyst Jim Liang.

“Lenovo continued to demonstrate strong execution of our strategies in the past quarter, achieving the eighth consecutive quarter of profitable growth,” Lenovo’s chairman Yang Yuanqing said in a statement.

A slowdown in technology spending in the United States is affecting enterprise-oriented PC firms, like Dell Inc and Lenovo, which bought the Thinkpad brand of laptops from IBM. Meanwhile, Lenovo’s consumer PC business is also facing pressure from bigger rivals like Hewlett-Packard Co and Acer, which has purchased Gateway.

In China, Lenovo’s revenue was US$1.29 billion in the quarter, a jump of 18 percent year on year.

Lenovo is the top sponsor of the coming Beijing Olympic Games and will use the event to launch PCs and laptops that have the Olympic torch design etched on them, Du Ruochao, Lenovo’s general manager of East China region, said at a torch bearers’ welcome conference in Shanghai yesterday.

Lenovo’s share price dropped 2.86 percent to HK$6.45 (92 US cents) yesterday while the Hang Seng Index lost 1.64 percent.

Finance Manager (fi181sh)

Job Title: Finance Manager
Report To: China Finance Director
Location: _Shanghai____________________

Our client was founded in Minnesota and has sales, manufacturing and development offices in more than 35 countries. It employs approximately 8200 professionals worldwide. This company has served the communications industry for more than half a century and holds thousands of patents. Today, our client is a world leader in providing global network infrastructure products and services that enable the profitable delivery of high-speed Internet, data, video, and voice services to consumers and businesses worldwide. With the expansion of China’s business and marketing, they are searching some excellent candidates.
Job Description:
Monitor subsidiaries in China on the financial reporting and accounting systems and to make sure compliance with financial procedures and accounting procedures; maintain strong internal control to ensure the accuracy and integrity of the financial reporting. Also ensuring compliance with local legal, tax and accounting policies for PRC.
Responsibilities:
1. Ensure accurate and timely preparation of internal and required report for monthly and annual reporting
2. Ensure the financial books and operations comply with the local legal, tax and accounting policies for PRC reporting and to U.S GAAP for U.S
3. Develop financial analysis to aid in management evaluation of business alternatives
4. Manage the cash flow and advise management on appropriate actions to minimize working capital.
5. Develop the Finance and Accounting team
6. Ensuring internal controls and SOX documentation is monitored and maintained.
Requirement:
1. University and Master Degree or equivalent.
2. Must have worked for a Western company with a thorough understanding of manufacturing operations in China.
3. Seeking a minimum of 5 years experience in a management position in finance and accounting functions.
4. Excellent knowledge of PRC GAAP and U.S GAAP.
5. Accounting qualifications such as CPA a strong advantage.
6. Excellent written and spoken English skill. Excellent PC skill.
7. Work experience with a “big four” accounting firm is preferred.

* Please send us your complete resume (both in Chinese and in English to: ‘topjob_fi181sh@dacare.com'(Please replace “#” with “@”)
* In the email subject MUST you plus the position name ?in either En or Ch ?

Mainland-Taiwan trade up 21.7% in first four months of 2008

Trade between the Chinese mainland and Taiwan reached 43.91 billion U.S. dollars in the first four months of this year, up 21.7 percent year-on-year, according to the Ministry of Commerce (MOC) on Wednesday.

The mainland’s exports to Taiwan reached 8.17 billion U.S. dollars and imports from the island reached 35.74 billion U.S. dollars, up 16.9 percent and 22.8 percent, respectively. the MOC’s figures showed.

During the same period, the mainland attracted investment from Taiwan in 731 projects, down 36.9 percent, while the actual use ofT aiwan investment reached 650 million U.S. dollars, up 29.6 percent.

As of the end of April 2008, cumulative investment from Taiwan in the mainland totaled 46.41 billion U.S. dollars in 75,877 projects. The figures date back to 1988, when mainland-Taiwan trade opened up.