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Manpower Inc. Advises Foreign Companies in China to Capitalize on Opportunities Presented by the Country's Rapid Economic Growth

Jeff Joerres, Manpower Inc. Chairman and CEO, Discusses Challenges Facing Multinationals and Entrepreneurs in Chinese Market

PR Newswire
PALM SPRINGS, Calif.
Nov 10, 2010

PALM SPRINGS, Calif., Nov. 10, 2010 /PRNewswire/ -- Manpower Inc. (NYSE: MAN) Chairman and CEO Jeff Joerres will today advise multinational companies operating in China that they need to increase their efforts to attract and retain individuals with in-demand skills as the country's rapid economic growth fuels an escalating talent war between foreign and Chinese private-owned companies.

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Joerres will take part in a session of the Ernst & Young Strategic Growth Forum 2010, titled "China: The World's Crouching Tiger" in Palm Springs, California. The panelists will discuss how multinationals and entrepreneurs are exploring Chinese market opportunities, valuable ways to expand their product lines and services, and how to establish their strategic presence in the country.

"As China's economy continues to surge ahead, companies across the board will look to strengthen their local presence," Joerres said. "However, in order to sustain a strategic presence in the Chinese market, entrepreneurs and multinational companies alike must maintain a flexible compensation system and prioritize developing local management with unique training and development opportunities."

The ability to source and retain the right local talent— especially at the management level—is critical for business expansion in China as foreign companies increase their focus on the Chinese market and private-owned companies begin to enjoy a better reputation among Chinese workers. The competition for talent will only intensify as China's working population grows older.   

Manpower's new Fresh Perspectives Paper: Winning in China: Building Talent Competitiveness, also launched today, advises both foreign and Chinese private-owned companies on how to win the talent war. The paper is based on Manpower's 2010 Foreign and Chinese Private-Owned Companies Talent Competitiveness Survey, which found that more Chinese workers are becoming attracted to local private-owned businesses, especially managers. The survey also shows that foreign companies are feeling the effects of increased competition for talent from local businesses, and that Chinese private-owned firms still face serious challenges in modernizing internal management systems if they are to compete effectively for talent.  

"As Chinese private-owned companies pay more attention to employee training and development, as well as better promotion prospects and improved compensation, foreign companies will need to stay ahead of the game by leveraging the unique advantages they have," Joerres said. "For example, they should offer high achievers the opportunity to experience diverse cultures and cross-country training, regardless of their position, educational background or seniority. Foreign companies should also combine successor planning with leadership training and maintain a strong focus on employee development within the whole company."

Joerres' co-panelists on the China roundtable include Robert Nardelli, CEO of Cerberus Operations & Advisory Company, LLC; and John Rice, CEO of Technology Infrastructure at General Electric Company. Rice explains in Manpower's paper that GE, as a multinational with operations in China, is seeing the impact of the shift in motivations of Chinese job seekers. To stay ahead in the battle for talent, GE has intentionally cultivated a continuous learning culture to develop employees' careers.

To view a live webcast of Joerres's session at 10:30am Pacific time on Wednesday, 10 November, register at: https://webcast.ey.com/sgm/pages/login.aspx?prog={23faaf9e-073b-4a26-848f-0a7bfd9b88e8}&action=register

The Ernst & Young Strategic Growth Forum is one of the largest U.S. gatherings of entrepreneurs, and will cover master strategies for company growth; the transaction market and available capital; and success factors of mergers, acquisitions and IPOs.

For more information on the Ernst & Young event, visit: http://www.manpower.com/press/growth.cfm

About Manpower Inc.

Manpower Inc. (NYSE: MAN) is a world leader in innovative workforce solutions; creating and delivering services that enable its clients to win in the changing world of work. With over 60 years' experience, Manpower offers employers a range of solutions and services for the entire employment and business cycle including permanent, temporary and contract recruitment; employee assessment and selection; training; outplacement; outsourcing and consulting. Manpower's worldwide network of 4,000 offices in 82 countries and territories enables the company to meet the needs of its 400,000 clients per year, including small and medium size enterprises in all industry sectors, as well as the world's largest multinational corporations. The focus of Manpower's work is on raising productivity through improved quality, efficiency and cost-reduction across their total workforce, enabling clients to concentrate on their core business activities. Manpower Inc. operates under five brands: Manpower, Manpower Professional, Elan, Jefferson Wells and Right Management. More information on Manpower Inc. is available at www.manpower.com.

SOURCE Manpower Inc.

CONTACT: Mark Jelfs, +1-414-906-6675, mark.jelfs@manpower.com, or Britt Zarling, +1-414-906-7272 (Office), +1-414-526-3107 (Mobile), Britt.zarling@manpower.com, both of Manpower Inc.

Web Site: http://www.manpower.com


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