By understanding the people and culture in China, MNCs can increase their likelihood of tapping the potential of this enormous and exciting market.
So much has changed and continues to change. But China remains distinctively Chinese. No-one debates that China will grow, continuously and at times, exponentially. The question for MNCs is how to grow profitably with and in China.
One answer will lie in their ability to channel the talents of their human capital. China is transitioning from an era when labor was dispensable and the needs of individuals were submerged below that of the collective. With the steady introduction of westerners into the more open and modern China, values are beginning to shift.
MNCs are well placed to glocalize their operations with a best of breed approach to introducing their global best practices and aligning them with local culture, needs and tastes. That said, there is much work to be done before global businesses can claim to have succeeded.
MNCs wanting to expand into China will also benefit from strong HR software, such as a complete end-to-end recruitment platform that offers seamless onboarding & attracts top talent, and a learning management system that can empower, engage and develop your workforce.