China’s Productivity Challenge
According to the Oxford Economics, China’s labour costs are only 4% cheaper than that of the US’s. And because China no longer enjoys its once cheap labour and capital, it must now switch focus to productivity as more and more MNCs rely on China for profit.
But what can HR leaders do to affect productivity in their organization? And what tools do they have at their disposal if they can? Ben Davies speaks with Yi Wang, Vice President & Area HR Director at GlaxoSmithKline, about China’s challenges in developing productivity and how HR leaders can lead the charge.