Originally established in 2003 as IntelligenceHR and later rebranded to Monroe Consulting Group, to offer executive search (headhunting) services in China, Monroe has carved out an enviable reputation for recruitment services in emerging markets. From its China headquarters in Shanghai, Monroe’s specialist executive search teams track the best talent in the market in the consumer goods, health, industrial, professional and technology industries.
China is the world’s number two economy. The 2014 GDP of China was around US$10 trillion. Also. China is the world’s biggest country in terms of population size with more than 1.3 billion people. Since china's reform and opening-up policies were launched in 1978, China’s GDP growth rate has continuously led the world.
China has a growing middle class, and does not face issues relating to an aging populations in countries such as Japan and South Korea. The economy is the biggest in Asia and has seen strong gross domestic product (GDP) growth of between 7.4 percent and 14.2 percent since 1990.
The positive outlook of China has seen local companies grow and many multinational companies enter the market. Searching out and identifying senior-level professionals in China has never been an easy task; a situation that and has become increasingly challenging as China continues to deliver continued strong economic growth.
While China continues to have an oversupply of unskilled labour and entry-level people, with relatively low employment costs, the same cannot be said for skilled professionals and managerial-level talent. In recent years, the increased demand for skilled professionals has resulted in rapid career progression for Chinese professionals and ever-rising salaries at this level.
The reason for the shortage of skilled professionals can largely be attributed to the quality of education made available by the government, which is not at the level to meet the demands of China employers.
The shortfall in skilled professionals means that having a well-connected executive search partner is essential. With Monroe Consulting Group’s deep understanding and wide business networks in Shanghai and China, the Company is well positioned to deliver the best talent to its clients.