Foreign firms need to retain the brightest and best

Major foreign companies need to work harder to hang on to Chinese staff as the business environment becomes more competitive. Retaining talented employees is crucial if an enterprise wants to grow here.

Hao Jie, executive deputy general manager of Beijing Foreign Enterprise Human Resources Service Co Ltd, or FESCO, has questioned the working practices of some Western multinationals when it comes to handling local workers.

"Chinese staff should be regarded as core elements in a multinational company. They should have equal status to Western workers, with the same rights to make crucial decisions," Hao said, adding that FESCO has helped provide staff to 20,000 companies globally. "It's important not to forget that people are the most important assets in a company."