Sheng Ye Capital Limited (“Sheng Ye Capital” or the “Company”, HKEx: 6069), a leading data-driven supply chain financial services provider was recently featured in a CNBC article titled China’s Jobs Problem Runs Deeper than the Coronavirus (the “Article”). In the Article, Aaron Yuan, Chief Strategy Officer and Jason Zhang, Chief Human Resources Officer of the Company, were interviewed and discussed talent recruitment, management and development within Chinese companies.
The Article noted that as China actively grapples with rising unemployment and slowing economic growth in the post-coronavirus environment, an economic boost could come from new business approaches to hiring. According to the Article, a common practice is for many companies in China to recruit younger male employees, which makes unemployment a more severe problem for middle-aged workers and hinders female career development and earning potential. On the other hand, several interviewees cited rigid bureaucratic structures in some Chinese companies that assign seniority based on age, as another reason for holding back people with experience and potential.
In response to these issues, the Chinese government has adopted various measures to promote fair employment. As early as in 2019, the 19th Central Committee of the Communist Party of China, at its fourth plenary session, vowed to eliminate all institutional barriers that prevent equal employment as it relates to gender, identity, industry and whether people were from urban or rural areas, resolutely prevent and address employment discrimination and create a more fair employment environment. Since the outbreak of the coronavirus, China has rolled out various support programs for job seekers, particularly those that cater to older and low-skilled workers, migrant workers and college graduates. This has provided strong support for steady economic and social development in China.
Sheng Ye Capital has a highly inclusive and diversified recruitment policy. During the interview, Jason Zhang, Chief Human Resources Officer of the Company commented, “We are always open to talent from different backgrounds and origins, regardless of their age or qualifications. We offer opportunities for those willing to develop and grow with the Company to realize their own potential.” Sheng Ye Capital values and recognizes the development potential of female employees and maintains a positive gender balance, with women accounting for over half of its workforce.
As an innovative company, Sheng Ye Capital always seeks to harness the full potential of talented employees by providing an extensive and supportive platform to those who share the Company’s vision and ambitions. “We fast track promotions for talented staff, and provide top performers with more responsibility and resources, enabling them to develop and grow,” Mr. Zhang commented. “Our strategic focus is on supply chain finance. With the industry’s remarkable growth potential, we will further diversify our businesses and continue to scale up operations of various business lines. We will also support the heads of these business lines by offering them uncapped resources and development opportunities without any pre-set ceilings,” added Mr. Yuan, Chief Strategy Officer of the Company.
Sheng Ye Capital embraces a people-oriented corporate culture with a flat organizational structure and provides equal opportunities to all employees irrespective of background, age and gender. “At Sheng Ye, we always encourage our people to actively express their views in discussions and collaborate with each other. The Chairman leads the Company by making strategic decisions as opposed to issuing commands. This culture inspires our people to focus squarely on fulfilling our customers’ needs and delivering faster service upgrades,” Mr. Yuan noted.
Sheng Ye Capital also believes employee wellbeing is important and cares about work-life balance. The Company offers various employee benefits to boost the overall sense of belonging, including family open days, marriage and childbirth cash gifts, critical illness subsidies for family members, daily afternoon tea and quarterly team-building activities. “As a next step, we will further improve our retirement benefits, and provide our employees with a greater sense of security and better coverage for life after work,” Zhang added.
Links to the CNBC report and useful sources of information:
https://www.cnbc.com/2020/07/08/chinas-jobs-problem-runs-deeper-than-the-coronavirus.html
http://www.gov.cn/zhengce/2019-12/12/content_5460489.htm
http://www.gov.cn/xinwen/2020-04/06/content_5499495.htm
