Recruiting in China

SHANGHAI (XFN-ASIA) - Ed Chan has been appointed head of Wal-Mart Stores Inc''s China retail operations business, succeeding Joe Hatfield, the company said in a statement.
Chan, who will be president and chief executive of Wal-Mart China, comes to the company from Dairy Farm Group where he was regional director of North Asia, it said.
He will join Wal-Mart next month and take over leadership of the China retail operations in February, the company said.
Wal-Mart China now has 66 retail units in 34 cities employing 36,000 associates.
It has been widely reported that the company is seeking to acquire Taiwan-owned retailer Trust-Mart, although the companies have not yet commented on such a deal.
Such an acquisition would propel the US retailer ahead of France''s Carrefour as the largest foreign-owned retail chain
In the statement Wal-Mart vice chairman Michael Duke said Chan would be tasked with expanding the company''s China business.
"Ed brings extensive retail experience that will help us expand our growth momentum in this important market," said Duke.

Heidrick & Struggles
International, Inc. (Nasdaq: HSII), the world's premier executive search
and leadership consulting firm, today announced the formation of its
Hispanic Marketing Practice. The newly-formalized Practice specializes in
helping U.S. companies capture share of the U.S. Hispanic market, whose
purchasing power is expected to reach more than $1 trillion by 2010.
While many U.S. companies are eagerly pursuing experienced executive
talent to gain a foothold in emerging markets like China and India, many
are undervaluing the growth potential of the U.S. Hispanic market, a
fully-emerged market segment that poses a much lower barrier to entry.
Heidrick & Struggles' Hispanic Marketing Practice works with leading
companies in industries ranging from consumer goods to financial services
to technology to understand the specific talent they require and
proactively build a team that can capitalize on the enormous and immediate
growth potential this market offers.
"For years, we've helped some of the world's largest companies build
marketing teams focused on reaching the U.S. Hispanic consumer," said Jane
M. Stevenson, Managing Partner, Global Chief Marketing Officer (CMO)
Practice. "It was the logical next step to formalize our services by
creating a dedicated Hispanic Marketing Practice team that knows the skills
and competencies companies need to reach the Hispanic consumer and has
access to top marketers with a proven ability to drive growth in the
Hispanic marketplace," she added.
Marketing to the increasingly lucrative U.S. Hispanic market requires
highly-experienced talent with multicultural sensitivity and specialized
skills. "Companies like Wal-mart and others are now realizing that reaching
the U.S. Hispanic consumer takes a highly sophisticated marketer who
understands the nuances associated with this market segmentation," said
Carla V. Palazio, Partner and head of the Hispanic Marketing Practice. "How
a company markets to a Mexican-American consumer in Chicago is very
different than reaching a Puerto Rican consumer in Miami."
According to Heidrick & Struggles, the current "war for talent" poses
many challenges to corporate America, including building and retaining
top-notch Hispanic marketing teams. As the demand for Hispanic marketing
talent, whether acquired externally or developed in-house, will only
increase, Heidrick & Struggles' Hispanic Marketing Practice also helps
clients with the challenges of career management and retention of these
much sought-after executives. Heidrick & Struggles' Hispanic Marketing
Practice operates within the Chief Marketing Officer (CMO) Practice, which
includes 50 marketing practice specialists who span 25 locations around the
world and maintain relationships with the top marketing leaders for Fortune
500, Global 1000, and private companies.
About Heidrick & Struggles International, Inc.
Heidrick & Struggles International, Inc. is the world's premier
provider of senior-level executive search and leadership consulting
services, including talent management, board building, executive
on-boarding and M&A effectiveness. For more than 50 years, we have focused
on quality service and built strong leadership teams through our
relationships with clients and individuals worldwide. Today, Heidrick &
Struggles leadership experts operate from principal business centers in
North America, Latin America, Europe and Asia Pacific. For more information
about Heidrick & Struggles, please visit http://www.heidrick.com .

NEW YORK--(BUSINESS WIRE)--Global executive search and assessment firm Russell Reynolds Associates today announced that it is expanding its existing presence in the Americas with the opening of its new office in Buenos Aires. Together with the firm’s offices in Mexico City and São Paulo, the new Buenos Aires office will serve the increasingly complex needs that exist throughout Latin America, particularly Argentina, Chile, Colombia and Peru. Edgar Medinaceli will lead the team from Buenos Aires.

“Finding the right leaders to ensure the continuation of growth in the Latin American marketplace will be critical for both the local and multinational corporations,” said Clarke Murphy, Russell Reynolds Associates Managing Director who leads the firm’s operations in the Americas and Co-Leads the firm’s Private Equity Practice. “Our executive search professionals have local expertise, access to worldwide cross-border resources and the firsthand industry experience that will ensure that our clients will find successful candidates to lead their businesses.”

Russell Reynolds Associates is committed to investing in talent, capital and resources to further strengthen the firm’s already significant global capabilities. Buenos Aires joins Zurich, Switzerland; Beijing, China; and New Delhi, India as new office locations introduced to the firm’s global network in 2006.

“Buenos Aires holds substantial opportunities for our multinational clients,” said Hobson Brown, Jr., Chairman, President and Chief Executive Officer of Russell Reynolds Associates. “We are uniquely positioned to service this important business region. The Buenos Aires-based team brings knowledge of the local market that will help us find the best candidates for our clients across the region.”

About Russell Reynolds Associates

Russell Reynolds Associates is the most trusted name in global executive search and assessment. Through a global network of 37 wholly owned offices, the firm’s more than 275 professionals conduct senior-level search and assessment assignments in a range of industries for public and private organizations of all sizes. With its one-firm culture, deep industry knowledge and unwavering commitment to client service, Russell Reynolds Associates is uniquely qualified to help clients find the best leaders for the future. The firm’s web site is www.russellreynolds.com

By M.B. OWENS
SYNDICATED COLUMNIST

THERE IS A lot of advice on how to look for a job. Sometimes it is contradictory. Much of the advice is from a human resource manager's or recruiter's perspective aimed at making their job easier. What you need to do is look at what is in your best interest.

Some managers involved with the hiring process frown on the use of functional resumes, for example. They prefer the chronological style. Others tell you to use the functional format in certain situations such as an extensive job history using multiple skills. So, what should you actually do?

Don't try to please everyone! Look out for yourself. Try to get an interview.

If you don't get an interview you have no chance of landing a job. You can always explain yourself in a face-to-face meeting. This does not mean lying on your resume or cover letter. It does mean preparing the resume and cover letter to make you look as attractive as possible.

The real reason that some managers prefer the chronological format is because they don't want to spend the extra time having to scan a resume. They often don't look past the most recent job. Since they have to spend extra time reviewing a functional resume looking for continuous work history and recent job skills, they don't like them.

You must decide if because of the refusal of some managers to consider functional resumes the same as chronological, you are better off using the former style. If your resume is much stronger with a functional approach, use it -- unless an employer says not to. You should have a better overall chance of finding employment.

The use of dates is another area that can be a stickler with managers. Some want to see complete information of day, month and year for every job held or period of time in school. If because of your age or special circumstances you don't want to list complete dates, consider whether you will gain more by listing everything or using months and years or not listing any dates after 10 or more years.

For instance, this means that if you have a choppy work history where for months at a time you were not working and you probably stand little chance of finding a position if you show that on your resume, a chronological format may hinder your chances of getting an interview. You may have a few hiring managers not give you consideration in a functional format, but at least you will be considered by others.

Many hiring managers don't like people applying who are not completely qualified for an advertised position. This is because it is more work for them to review resumes. Your goal is to get an interview, not to worry about their workload. Providing a resume that is truthful and gets you an interview should be your top consideration.

If you are partly qualified for a position and can perform the job duties -- apply.

Employers don't always get a perfect candidate. Applicants sometimes don't take jobs that are offered. Hiring managers are often under deadlines and must fill a position.

You may be pleasantly surprised when you get an interview and an eventual offer.

So, when looking for a job, use the approach that will help you reach your goal. Use accepted guidelines within a framework that puts the percentages on your side.

TORONTO - China is one of the easiest places for recruiters to lure expatriate executives, but is also one of the hardest places for them to succeed, according to a study released on Tuesday.

A survey of more than 140 international recruiters by executive recruitment firm Korn/Ferry International found other popular places for expatriate workers were Western Europe, especially Britain, and North America, as well as Southeast Asia, especially Singapore.

The firm's 10th quarterly executive recruiter index found that the most difficult places to attract expatriates to work included the non-Gulf Middle East, Africa, Central and Eastern Europe, and South America.

"High-growth emerging nations often offer the greatest opportunities for expatriates, but they can also come with the most challenges," Chris van Someren, president of Korn/Ferry for Europe, Middle East and Africa, said in a statement.

Reasons that assignments failed included the lack of cultural fit, family or personal issues or a lack of direction from managers, the survey showed.

Things were toughest for expatriates in China, Japan and South Korea, the non-Gulf Middle East, and in Central and Eastern Europe, and South America, the poll found.

But 91 percent of the recruiters surveyed said executives with international experience were either extremely or somewhat desirable candidates.

"Expatriate assignments can be extremely beneficial for developing emerging leaders and for providing solutions for organizations undergoing significant growth or change - but expatriates are clearly not a substitute for local talent," said van Someren.

Recruiters said expatriate programs helped promote better cultural understanding, facilitated the opening of a new branch or office, and were good as a professional development tool.

But expatriate assignments were least effective for addressing local talent shortages, generating new business abroad and improving staff retention.

The poll found the average ideal length for an expatriate posting was about two-and-a-half years.

BEIJING, Oct. 23 - China will loosen controls on its currency gradually and should step up development of financial tools such as derivatives to help banks and companies cope with a more flexible exchange-rate system, offcial from the People's Bank of China said.

China will "improve the yuan's flexibility gradually," Su Ning, deputy governor of the People's Bank of China, said at an economic conference in the eastern city of Suzhou, Jiangsu Province at the weekend, Bloomberg News said.

"China needs to develop new financial tools and enhance financial reform to help remove the burden on its financial system," Su said.

A record trade surplus has flooded the world's fourth-largest economy with cash, spurring investment in factories and real estate that the government is concerned may lead to overcapacity and bad loans. Foreign-exchange reserves have surged to almost 1 trillion U.S. dollars, fueled by exports that the United States and Europe say are supported by an undervalued currency.

China has limited gains in the yuan to 2.6 percent since dropping a decade-old peg to the US dollar in July last year. The currency strengthened 0.1 percent to 7.9025 to the dollar on Friday, according to the China Foreign Exchange Trade System.

Chinese officials have said repeatedly that the yuan's exchange rate will be loosened only gradually because the nation's banks and companies aren't prepared to cope with a free-floating currency. China has been introducing derivatives such as interest-rate forwards and swaps to provide tools to hedge risks, and plans to add interest-rate and stock-index futures.

The government should step up reform of the nation's banks including Agricultural Bank of China, Su said. The Beijing-based lender is the last of the big four state-owned banks awaiting restructuring and a government bailout.

Agricultural Bank is close to completing a plan to create a shareholding company, the Xinhua news agency reported last week, citing central bank Governor Zhou Xiaochuan. The government may inject 100 billion dollars into the bank, the agency said.

Industrial & Commercial Bank of China, the nation's biggest lender, raised 19.1 billion dollars in the world's biggest initial public offering, bankers involved in the IPO said. Bank of China Ltd and China Construction Bank Corp have also listed in Hong Kong in the past year.