Consultancy struggles to find and keep staff despite slowing market
Despite a slowdown in China's property market caused by the global economic crisis and a general correction, one company remains optimistic about growth in the long run. Its primary concern is a shortage of manpower, and here it is feeling the pinch.
'There's been a talent war in China for the past 10 years, especially in the property industry,' said Knight Frank's director of human resources in greater China, Theresa Lui. 'There are a few really big players in China, and we are competing with them to get our talent.'
Knight Frank, a British-headquartered property consultancy, is a leader in the Hong Kong and China property markets. It has been experiencing explosive growth in China in the past few years, expanding from a team of 60 to 150.
But the company faces stiff competition trying to attract and maintain staff in cities like Shanghai, where they have their largest office.
'We sometimes lose people to other industries, not only the property industry, and it is very tough getting the right people in the first place,' Ms Lui said.
