The period after the Lunar New Year holiday sees many Chinese workers on the move. With their annual bonus in their pocket, and the trip home to see family behind them, many are looking for a change. But this year, the number of candidates looking for new opportunities was especially high.
Every year in China, the post-Chinese New Year period is a tough but exciting period for companies and job-seekers. This year, the peak time has arrived even earlier than usual, and the number of Job Seekers is higher than ever: this reflects the changing expectations of Chinese candidates, who remain to be the main drivers of the job market.
As the economy grows, the workforce is looking for better working conditions: work life balance is a relatively new element but increasingly sought after by the younger generation. MNCs and local companies have to offer shorter working hours and increased holidays to retain current staff and attract others.
While salary and development opportunities are still the main driving factors, work life balance is gradually almost as important. Salaries have increased steadily over the last 5 years and as this trend slows down and salaries stabilise, the other attraction factors become more relevant.
Most companies established in China are growing to expect resignations after spring festival and have prepared accordingly. Recruiting after Chinese New Year is tough as candidates have a multitude of offers in the turbulent market. Hence a significant amount of companies this year decided to interview, and in a lot of cases offer candidates, before the spring festival, meaning that these candidates agree over the festival and resign immediately on their return. Once those resignations take place companies already have candidates interviewed and can release offers immediately rather than having to interview again, thus speeding up the cycle.
In this unstable period, companies and job-seekers are thriving and adapting to the changing needs of a dynamic employment market, and the Year of the Snake starts off with more opportunities than ever for both sides!
