The Technology, Media, and Communications (TMC) is an industry grouping that includes the majority of companies specializing on new technologies most of them focus on patents and other intellectual property which makes them highly dependent on research & development (R&D).
China’s telecommunications sector is one of the world’s biggest marketplaces for communications today where more than one billion people were using the internet, as of June 2021, making up more than one-fifth of all internet users worldwide. This industry brought in more than 119 billion yuan every month.
The “Made in China 2025” program has propelled the TMT sector’s growth during the past several years in China, where the industry has experienced favorable growth. The nation’s high-tech industries, which include telecommunications, electrical power equipment, robotics, high-end automation, and new energy vehicles, are currently being developed quicklier thanks to the implementation of this 10-year plan.
Executive Search for the TMT Industry in China
As an executive search firm, we have closely witnessed the negative effects Covid-19 has had on companies, especially in China, in despite of this, the pandemic did not have such a negative economic impact in the TMC sector as in other businesses. Although it had to overcome significant changes, especially in consumer behavior those who agilely adapted saw the pandemic as a great opportunity for growth and evolution. The harder part for the industry is now related to the HR department.
One of the biggest challenges for TMC companies all over the world, including China, is to find and retain qualified human capital. The competition in the executive search is high and the pool of digital talent is limited. The COVID-19 pandemic’s consequences on hiring are still being felt. According to McKinsey People Analytics, 88% percent of digital talent who worked at telecom companies left the sector when changing jobs. In China, this tendency is more complex because of the concentration of talent in the cities and the foreign talent exodus due to the lockdowns during the covid pandemic.
TMT Industry in China
Companies in the fields of Technology, Media and Telecommunications are the foundations of change and will continue to propel the recovery of the economy and our post-pandemic future. It is crucial to carefully choose the leaders who support those businesses, especially in an executive search process, managers vision is extremely important because this industry is so potent that changes inside it could have a significant impact on the future.
We at Zavala Civitas Executive Search and Organizational Consulting, have had the chance to collaborate closely with important figures in the technology sector and have been witness to their progress and growth, both within the context of their own businesses and in the pursuit of their purpose to assist others in reaching their next level.
TMC development is key for the present and the future. Because of this, we enjoy caring for the leaders who must fill some of the most crucial and cutting-edge positions at many of our companies. To cultivate inventive, accountable, and committed talent that can have an impact and transform an organization in the short- to medium-term, we go to great lengths to consider what talent they may require and what the greatest fit-to-role may be.
