Foreign investments push service area as a favor

Foreign investments push service area as a favor

According to the foreign investment (FDI) data of the Commerce Department, in January-November 2011, services the actual use of foreign capital amount of $ 48.768 billion, an increase of 18.54%, the use of foreign capital of Chinas service industry accounted for the overall proportion more than manufacturing for the first time. Situational Judgment Tests - One of the advantages of Situational Judgments Tests is the fact that they are objectively scored and extremely cost effective to administer. When administered on-line, results can be instantly retrieved by hiring managers thereby speeding up the selection process while maintaining high standards of accuracy and legal defensibility.
The full liberalization of Chinas service industry as well as good prospects for economic growth and huge service demand market are the important reasons for the hot of foreign investment in the service industry. At present, the field of foreign investment in Chinas service industry, has expanded from the first tourist hotel industry, to the foreign offices, tourist facilities, attractions, intermediary consulting, business, health care, education and other fields.
Why invest in recruiting and selection tools?
Experts estimate the cost of a bad hire to range from a minimum of 20% of annual wages for entry level employees (such as call center agents or retail sales clerks) to as much as twice the annual salary for professionals, managers and executives.
Source: Human Resource Management, 10th edition (2003) by Robert L. Mathis and John H. Jackson
Fast-Start Planning for Individualized Development, Learning, and Coaching during the first Few Months
Once an offer is made and the candidate accepts the position, the critical goal is to develop the new hire into a high producer as quickly as possible. There are several strategies for minimizing Time to Proficiency.
However, the current overall level of Chinas service industry is still relatively backward, the proportion of GDP is less than 40 percent, compared with up to 80% of GDP in developed Western countries, there is much more development space of Chinas service industry. As an important force in Chinas economic growth, the favor of foreign investment to China service industry is expected to become a pushing hand for the rapid development of Chinas service industry, and to achieve win-win situation for the foreign-funded enterprises and Chinese services market. If each selection intervention prevents even one bad hire per year, the costs are not only covered, but the ROI is exponential depending on how many bad hires are prevented over the manufacturing career of each participating manager.