One-in-five managers will leave: Survey
10 July 2006
Some companies operating in China lose one in five top managers every year, according to a recent survey by the Economist Intelligence Unit and Heidrick & Struggles. The results, reported by the Financial Times, estimate top managers in China switch jobs every 15 months. Among executives, 48% said a lack of "suitable management candidates" is a major problem for their business, with 7% of companies surveyed losing 15-20% of their senior managers every year. Companies are now developing a range of strategies to retain management talent, with 66% willing to offer training abroad and opportunities for senior executive positions. By comparison, 53% of companies still rely on higher wages.
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