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HR Q&A
- Posted: 25.06.09
- Subject: HR Market Trends
- Job Function: Generalist HR & Business Partnering
- Industry: Banking & Financial Services
- Location: China
- GUEST EXPERT - Yi Wang: As an HR Leader in the rapidly growing insurance industry in China, have you noticed any specific challenges in searching for and attracting high quality HR talent?
- Answer:
Yi Wang
VP of Human Resources, China
AIG
Based in Shanghai
Most foreign life insurers, except for AIA, can only operate in China under a Joint Venture partnership arrangement with a Chinese firm, and their scale is quite small due to the number of onerous restrictions placed on them by the insurance regulator. Due to this limited business scope, most general insurance companies don't have the capacity to hire world-class HR leaders. Instead, they need local HR professional who can meet the challenges of day-to-day people and organisational issues. These restrictions are also compounded by the cost-conscious nature of the Chinese JV partners.The business itself can be an inhibiting factor in attracting local HR talent - people here tend to view insurance as an undesirable industry due to the sales approaches of the more disreputable agents here. However we are still able to hire from the growing local talent pool of HR practitioners in China, and there is also no shortage international HR talent who are interested in career opportunities in China's insurance industry.
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