Talent management concept – recommendations for Chinese companies

In China, traditional enterprises usually refer to those established in the last century or earlier and dominated by traditional industries. These sectors may include manufacturing, construction, traditional finance. China’s traditional enterprises often have profound cultural deposits and historical accumulation, and may be family enterprises or enterprises that grew up under the state-owned system and have a more traditional management style including human resource management (HRM), organizational structure, business culture. The characteristics of traditional firms include the pursuit of stability, a more conservative business model, a more traditional product or service, and a relatively long corporate history. These firms have low acceptance of new technologies, new business and management styles. Due to the unprecedented economic and social transformation as manifested consequences of the Chinese opening toward the global market combining other trends such as digitization, attracting and maintaining outstanding talents and intercultural dimensions of global scale business operations, more and more traditional enterprises address challenges of transformation and strive to adopt new business thinking, management models to adapt to the rapidly changing market environment. These actions include efforts in digital transformation, the launch of innovative products, and the taking into practice new management models. This paper aiming to highlight these challenges from multiple perspectives, including talent recruitment, training and retention, as well as the capabilities and strategies to adapt to the requirements of the new era. Through in-depth analysis, it will reveal the difficulties and opportunities faced by traditional Chinese companies in their human resource management practices