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In fact, according to SHL's recently released annual Global Assessment Trends Report, up to 70 percent of companies worldwide are currently using assessments to inform their hiring decisions.
"If only 10 percent of China's employers use talent measurement services, it will be an enormous market," said Fu.
According to Fu, in 2011, employees and new hire assessments grew by 20 percent in China and indications of regional growth continue into 2012, and assessment growth rate is expected to be 42 percent in China.
"Companies the world over are clearly recognizing that people are their most important business asset, with the attraction and retention of top talent of paramount concern," said Fu.
"While specific assessment needs vary dramatically across business sectors, one commonality exists: All companies need to find the very best candidates," he said.
China's surging overseas investment has also brought about great business opportunities for the talent measurement industry.
Talent measurement is essential to Chinese enterprises' global ambitions, said Fu.
"As the worldwide business landscape continues to become more flat, increasing numbers of companies are finding they are fighting for candidates in the same talent pool. The battle for talent has never been tougher," said Robert Morgan, Chief Customer Officer of SHL.
"Assessments are proving to be the secret ingredient of accelerating positive business outcomes—giving companies the competitive edge, and putting them ahead of the pack in this ever-changing global workforce," he said.
"While Chinese companies are launching their business ambitions of going global, it's becoming obvious that they are not ready for talent management," Fu said.
China's ever-increasing overseas investments in recent years have been accompanied by huge losses. For example, in October 2011, China Rail Construction said that it had recorded 4.1 billion yuan ($634 million) in losses in its railways project in Mecca, Saudi Arabia.
Lin Shaopei, professor at the School of Mechanical Engineering at Shanghai Jiao Tong University, said many Chinese construction companies lost money overseas because they lacked experienced employees in managing projects and did not pay enough attention to cultural differences.
According to Fu, the only measurement tool for some SOEs to select its managers of overseas project is an English test paper.
"Top-tier leaders are essential to delivering business results. SHL's manager selection solution includes measurement of multiple competencies (coaching, decision-making), team leadership capabilities, aligning people with strategy to drive business outcomes and pinpoint high-potential leadership talent," said Fu.
Chinese corporate leadership lacks enough adaptability to address changing international situations, enough management ability to avoid market risks and an international view to meet challenges that arise from globalized projects, said Lin.
SHL delivers more than 25 million assessments annually in more than 30 languages. Even so, the biggest problem for Fu in China is still making people aware of what talent measurement is.
"The majority of my job is to tell Chinese employers what talent measurement is and how effective it is while approaching local enterprises," said Fu.
Influenced by their international business partners, Sino-foreign joint ventures are the most possible users of talent measurement in China. FAW-Volkswagen Automobile Co. Ltd., as the main automaker in China, has established its own talent measurement center. The company's ability to retain talent can be attributed to its advanced talent management and measurement, said Yang.
But it is still hard for SOEs to accept talent measurement, Fu confessed.
"In China, most SOEs tend not to use it. Some of their employee recruitment was done behind closed doors," Fu said.
Even some top companies in China boast about their high graduate recruitment.
"Quantity does not count in talent recruitment. It's more about quality. Talent measurement not only helps employers make critical decision in recruitment, but also employee retention," said Fu.
Although Chinese employers have a low acceptance of talent measurement, talent measurement providers like SHL are confident of their commitment to the Chinese market.
To better serve its Chinese customers, SHL has spared no efforts in localization.
"We have translated our major products, including a leadership report, a motivation questionnaire, and ability tests into Chinese. It will become easier for Chinese users," said Fu.
"Aside from translation, we need to make changes to the questions to better meet the Chinese entrepreneurship and culture. For example, one question can tell whether a person taking the test from the UK is modest or not, but it does not work when a similar test-taker is from China, so we need to change the question," said Fu.
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