Two and a half years after it started, the Covid-19 pandemic is still greatly impacting businesses in China at all levels. Especially the ‘zero-cases policy’ is creating increasing difficulties to individuals and businesses in the mid-long term.
From HR perspective, for companies, especially foreign companies, one of the major concerns today is how to attract and retain international talents, considering the exodus of foreign nationals and the scarcity of new talents coming to China. In some specific industries, international competences are hardly replaceable by local workforce and the increased scarcity of foreign talents is creating many challenges.
International businesses that provide internal rotations of international profiles now, find themselves having to look outside their own reality to overcome the difficulty of moving talents in China. The immediate effect is that businesses are willing to offer highly competitive salary to attract and retain international resources and others are turning to local employees to bridge the gap.
The peculiarity of China job market challenges European companies in attracting and retaining local employees, as many are the job opportunities rising all at once. In addition, it is not easy to find qualified resources, particularly in terms of “soft skills”, “critical thinking” and “practical knowledge”; an issue present for several years but exacerbated in the last period due to the scarcity of international resources, which led businesses to look at the pool of local candidates.
In the long run, this localization strategy of the team might significantly impact the management and communication between HQs and the China business. Both foreign and Chinese are unable to travel to HQ for information exchanges, networking, training, and sharing of expertise. The risks facing are the lack of diversity in the team, and the isolationof China operations.
All these elements have led to an increase in the demand for international resources which is unbalanced with respect to the current market offer. Currently, businesses in China are monitoring the situation for their next moves, and we, Consea Group, with our team in Shanghai will keep a close eye on it for you.
The 56th edition of Cosmoprof Worldwide Bologna has just concluded, taking place from March 20 to 23, 2025, with significant participation, confirming its status as a leading event in the cosmetics industry. This year’s results once again highlighted great success: over 3,000 companies from 65 countries participated (35% of which for the first time), along with more than 250,000 visitors and industry professionals. The global scale of the event was further emphasized by the presence of 80 international delegations. There is no doubt that in recent years, the beauty industry—including makeup, skincare, and haircare—has experienced significant global growth. In 2023, global beauty market retail sales grew to $446 billion, marking a 10% increase compared to 2022. Forecasts indicate that the market will continue to expand, reaching a revenue of $673.70 billion by 2025, with a projected compound annual growth rate (CAGR) of 3.35% for the period 2025–2029 (source: McKinsey). The cosmetics industry is undergoing a profound transformation, both in terms of values and market dynamics, including distribution channels. What are the main trends? Clean Beauty and Sustainability: consumers are increasingly attentive to product ingredient lists (INCI), favoring natural and eco-friendly solutions. This has led many companies to adopt the “Clean Beauty” philosophy, introducing organic and sustainable product lines.
E-commerce and Social Media: the online sale of beauty products has seen exponential growth in recent years. Platforms like TikTok and Instagram have become essential for discovering and purchasing cosmetics, with social commerce on the rise. Beauty influencers, in particular, are shaping the future of product promotion and sponsorship.
Technological Innovation: the integration of artificial intelligence (AI) in product development is revolutionizing the industry. AI enables companies to analyze huge amounts of data, such as consumer preferences and market trends, optimizing product development and enhancing operational efficiency.
Inclusivity and Personalization: the growing demand for products that cater to diverse consumer needs highlights inclusivity and personalization. This trend reflects increased awareness of diversity. Personalization allows companies to create tailored, almost “custom-made” solutions that meet individual preferences, fostering deeper connections and strengthening customer loyalty. Innovation, technology, trend awareness, and inspiration are key elements in this industry, whose continuous growth is deeply rooted. Cosmetics are closely linked to personal identity, intimacy, and self-esteem, and the beauty sector has the unique ability to swiftly adapt to consumer desires. This makes it an extremely resilient industry, capable of withstanding inflation and economic crises. As mentioned earlier, the global beauty market is continuously expanding, with an estimated value of just under $700 billion. Of this, skincare accounts for 28%, haircare for 17%, and makeup for 14%. From a geographical perspective, the Asia-Pacific region leads the growth, followed by North America. The fastest-growing regions are Latin America, the Middle East, and Africa, all experiencing double-digit growth rates. Western Europe is growing at a rate of 4.9%. The expansion of the beauty industry has also had a significant impact on the job market in Italy, where the cosmetics sector employs approximately 155,000 people across the entire supply chain, from production to distribution. Italy stands out as a center of excellence in this sector, both in research and development and in manufacturing. This growth has created an increasing demand for qualified professionals, highlighting the need to attract highly skilled and structured profiles suited to the industry’s landscape while also investing in training and skills development. Consea, a company specializing in recruiting and human capital consulting, serves as a strategic partner for businesses in the beauty sector. With in-depth knowledge of the global market and the ability to identify professionals with targeted expertise, Consea supports companies in sourcing and attracting talent—both with specific beauty backgrounds and cross-sector experiences that bring added value. Furthermore, Consea assists businesses in defining talent management strategies, helping build career development paths aimed at retaining key professionals. In an ever-evolving industry like cosmetics, partnering with an expert like Consea presents a tangible opportunity to successfully navigate challenges and change. Author Chiara Altomonte, CEO Fashion&Retail and Consumer division
Expanding Business in the United States: The Talent Acquisition Challenge According to Consea
During the third edition of the “International Talks” series, organized by Bonfiglioli Consulting Italy and USA, I had the pleasure of participating as CEO North America for Consea, sharing our perspective on talent acquisition in the U.S. market. It was a rich and stimulating discussion that highlighted the complexities and opportunities of managing human capital in an increasingly competitive global environment. The United States is one of the most strategic markets for Italian companies today—but also one of the most complex. Opening a local office or launching a production site is not enough: success requires building a solid organization capable of attracting, selecting, and retaining top talent. This demands a deep understanding of local dynamics, candidate expectations, and the ongoing transformations in the world of work.
The Challenges of Talent Acquisition in the U.S. Market
One of the key topics we addressed was the set of challenges Italian companies face when entering the American market. The first is the growing global competition for talent. The rise of remote work has expanded the talent pool for many North American companies, which now hire professionals from around the world. This has increased pressure on European markets, making it even harder to attract qualified candidates. Moreover, the work culture in the U.S. is significantly different from that in Italy. Frequent job changes are considered normal, especially among younger generations. Retention, therefore, becomes a critical challenge: professionals seek stimulating environments, flexibility, shared values, and growth opportunities. Companies must be able to offer a clear, authentic, and consistent value proposition. Another fundamental aspect is investment in employer branding. Candidates expect transparency, inclusivity, and alignment between stated values and actual practices. Companies that fail to communicate their identity effectively risk being excluded from the short list of top talent.
Compensation, Benefits, and Cultural Expectations
Compensation is a particularly sensitive topic. In the U.S., compensation packages are often complex and include stock options, bonuses, health insurance, retirement plans, and other benefits. Italian companies must be aware of these standards and be prepared to negotiate with candidates who have very specific and pragmatic expectations. But it’s not just about numbers. Understanding cultural differences in leadership, communication, and business approach is also essential. The American model is performance-driven, fast-paced, and goal-oriented. This can create misalignments with Italian companies, which tend to be more relationship-focused and gradual in their approach. For this reason, assessing soft skills and cultural fit is a key step in the selection process.
Compliance and International Mobility: A Changing Landscape
Another topic we explored— in collaboration with ECA Italia—was regulatory compliance, which is particularly complex in the U.S. Recent changes in immigration policies and visa processing times have made relocating managers from Italy more difficult and costly. Companies must plan well in advance, rely on experienced partners, and adopt flexible solutions to avoid delays that could jeopardize entire expansion strategies. Managing contracts, benefits, and taxation also requires careful attention: each state has its own rules, and non-compliance can lead to legal and reputational risks. In this context, collaboration between HR, legal teams, and executive search partners is essential to ensure a smooth and secure process.
Technology and Digitalization in HR Processes
Finally, we shared how the adoption of digital tools is transforming our approach to talent acquisition. At Consea America, we use a combination of technologies for sourcing, evaluating, and managing recruitment processes. From talent mapping platforms to psychometric assessments like Hogan, to video interviewing systems and integrated ATS platforms—technology is now an integral part of our daily work. These tools not only increase efficiency but also enhance the candidate experience and the quality of hiring decisions. In a market like the U.S., where speed and transparency are essential, digitalization provides a decisive competitive edge.
Conclusion
The U.S. market offers tremendous opportunities, but it requires preparation, flexibility, and a deep understanding of the local context. Talent acquisition is not just an HR function—it is a strategic element for the success of any internationalization project. At Consea, thanks to our experience and direct presence in the region, we support Italian companies in facing these challenges with an integrated, human-centered, and technology-driven approach. “Approaching the U.S. market with awareness and vision means laying the foundation for sustainable, long-term growth. And in an increasingly interconnected world, human capital remains the true engine of innovation and competitiveness.” Antonella Cerabona – CEO Consea America Inc. Link Video
The executive search and recruiting scene in the US are continuously evolving, thanks to a mix of economic and tech factors. As businesses face new challenges, the need for top-notch recruitment services, especially for executive roles, is on the rise.
Challenges in 2025
Talent Competition: There's a high demand for experienced professionals, but not enough talent to go around. Companies need to offer great benefits, flexible work options, and strong leadership cultures to attract top executives. Remote and Hybrid Work: Remote and hybrid work models are expanding talent pools but also increasing competition. Companies need strategies to maintain culture, productivity, and collaboration in distributed teams. While companies are trying to go back to a work-in-office schedule, the market is still pushing for hybrid and remote. Tech Integration: While AI and automation are revolutionizing recruitment, there's a risk of bias in AI algorithms and impersonal candidate experiences. Employers need to balance tech use with a human touch. Evolving Workforce Expectations: Gen Z professionals prioritize purpose-driven work, flexibility, and career growth. Companies must adapt to these expectations to attract young talent and be able to create a safe space where different generations can discuss and learn from each other. With our Human Capital Consulting division, Consea can help you to implement several programs (like leadership programs, team building, youth academy, etc.) to support your organization and how to navigate the transformational moments we live in. Diversity, Equity, and Inclusion (DEI): Candidates want employers committed to DEI. Companies that don't prioritize this may struggle to attract diverse talent and face reputational risks.
Tips for Companies Entering the US Market
Conduct Thorough Market Research: Understand the local market dynamics, consumer behavior, and competitive landscape. This helps tailor your products or services to meet US consumer needs. Consea can help you to deploy market mapping through competitors benchmarking to win the talent competition. Develop a Strong Value Proposition: Clearly define what makes your product or service unique. Focus on benefits that matter most to your target audience and consider cultural nuances when crafting your message. Establish a Local Presence: Setting up a US-based office or partnering with local distributors can enhance your brand's credibility. Hiring local employees provides valuable insights into the market and helps build stronger relationships with customers. Ensure Legal Compliance: The US has complex regulations that vary by state and industry. Make sure you understand and comply with these laws to avoid legal issues. Understand the Competition: Research competitors to understand their strengths, weaknesses, and market positioning. This helps you identify opportunities and position your brand effectively. Adapt to Local Preferences: Conduct surveys or focus groups to gain insights into local consumer preferences. Tailor your marketing strategies to better meet the needs of US consumers.
Consea: Your Global Partner with Local Expertise
Consea is right in the mix of these trends, offering top-notch executive search and consulting services. We've been in Chicago since 2017, blending global expertise with local market knowledge. As an experienced executive search firm in Chicago and a trusted global recruitment agency in the USA, Consea delivers tailored solutions that combine local insight and global reach to help clients navigate the evolving executive recruitment landscape and find the right leaders for success. For more info on how Consea can support your executive search needs, explore our website.
The first time my CEO and I landed in Chicago was a windy cloudy day of May. We were 90% sure this was the place we wanted to implement our American HQs. We were a little bit familiar with the US geography, opportunities, and potential challenges, but we needed to get a “vibe” of the city, the Midwest culture and how it would welcome the project we had in mind for Consea’s expansion into North America. Suddenly the cloudy day became sunny and mildly warm; Chicago was welcoming us with open arms. It was 2017. I would then travel back to Chicago many other times by myself to start looking for our offices, meeting with our lawyers, our CPA, and eventually starting our operations. I traveled to other cities and their regions (such as Atlanta, New York, Cincinnati, Detroit, among others) to meet our clients and familiarize myself with their industrial areas as well as the US “way to do” business. In September 2017, Consea America was officially settled, and we already had our first clients. 5 years later… where are we? Consea America is now one of the major point of references in the Executive Search sector for companies that are already in North America and also for those that are starting up their operations on US soil. Consea America exists for those who need a local partner, not only for their recruiting needs but also a consulting and effective support in understanding the US market and its cultural aspects and differences with the EU mindset. We have a strong and solid organization composed by passionate, motivated and committed individuals that everyday are working hard and capitalize their market knowledge for our clients, candidates, and partners in general. Consea America has recently hit its 5 Year Milestone with excellent results, being the second relevant market for Consea Group in terms of revenue. In these 5 years, we went through challenging and exciting moments. The pandemic was a teaching moment for the most of us; we sat down with our network (clients, candidates, professionals of the HR and Business Consulting industry) and discussed the New Normal during our Round Table with the CEOs events. We also took the time to reinforce our team*, invest in our internal resources and prepare ourselves for the moment when the market would be ready to go back to the New Normal. And so it happened, in 2021, together with another phenomenon that experts called the Great Resignation. Year 2023, a new 5-year cycle is starting. Consea America is stronger and ready to continue supporting our partners and markets in North America. *A special Thank You to my team: without you guys all this would have not been possible! Authors Antonella Cerabona - CEO Consea America Inc.
Consea’s Resume Myths, Tips, and Tricks
Advice from our recruitment team that will help your resume stand out. The first impression does not have to be the one that matters when selecting a Candidate but the resume is the business card through which Candidates make themselves known by the companies. Here are some tips for getting the most out of your resume. MYTH: A graphic / creative CV captures more attention The European format is not always the best choice when writing a resume, you can also use more creative templates but on the basis of your graphic skills. An essential and clear resume is better than one which is incomprehensible and difficult to read. SUGGESTION: If you do not have graphic skills, create a typical resume in MS Word that contains all the essential information and describes your work experience better than a thousand graphics. TIP: There are several websites that offer templates and ideas to create an original but at the same time effective resume. If you do not already know them we suggest you try Canva www.canva.com. MYTH: You have to insert the photo on your resume Certainly, being able to associate a face to a resume is a great help and makes the resume emerge but you need to remember that the photo must be professional and appropriate. SUGGESTION: It is better not to insert personal photographs or taken from group photos. Take time to take a picture which shows your professionalism and represents only you. TIP: Once you have taken the photo, use it both for your resume and LinkedIn profile. It will allow you to give uniformity to the way you present yourself and will make you easily recognizable. MYTH: Provide details about hobbies and personal characteristics. Adding your hobbies and personal characteristics to your resume can be a plus but only if they provide real added value. SUGGESTION: Each information that you decided to write in your resume is evaluated therefore it is better to insert only these elements that could have a value for the position you apply for. TIP: Think about which competence (transversal or specific) can recall the information provided and select only the relevant ones (e.g. competitive activity – determination and achievement of results; reading – curiosity / information and education; cooking – creativity). MYTH: Less is more! A resume does not necessarily have to be one page, especially if you have several years of experience, but at the same time it should not be discursive or include too much details as it risks losing effectiveness. SUGGESTION: An effective resume is between 2 and 3 pages. It reports professional experience in chronological order from the current position to the oldest. It contains relevant information and a brief description of each role, highlighting specific skills and knowledge (There are companies that associate different role content to the same job title. If a short description is therefore associated with the job title it will be easier to identify Candidate’s responsibilities.) It is useful to add some detailed information such as the number of people managed / business size / results achieved. Finally, it is worth specifying the knowledge of a foreign language through the competence levels of the Common European Framework of Reference for Languages (CEFR) and not through terms such as “good”, “fluent”. TIP: The resume is your business card – Imagine that those who receive it do not know you and they want to have an overview of your skills and then explore them in an interview, but if some key information is missing (knowledge of a particular sector, program / channel …) they could exclude you from the selection process. MYTH: Lying in resume makes it more appealing It is well known that lies have short legs so it is better to expose your work path honestly and be able to motivate any discontinuities in your work experience. SUGGESTION: A good recruiter does not judge the book by its cover but, wanting to build a relationship of mutual trust and reliability with the Candidate, will tend not to contact people who have talked about a different work path than the one actually lived or have boasted skills / responsibilities never acquired. MYTH: Give a “personal” touch to the CV / Do not insert personal details It is not necessary to enter detailed information about your personal life (e.g. names of children, spouse…) but do not forget to enter your contact information (phone number and e-mail address – verify if they are correct!) in order to be effectively contacted. It is often useful to put in your date of birth, which does not have to be seen as a discriminating factor but as a data that allows you to see the profile as a whole.
Executive Leadership Hiring in Q4 & Key Trends Every Company Should Know
As the year draws to a close, many organizations focus their energy on wrapping up projects, closing out budgets, and preparing for a strong start in January. But for executive leadership, Q4 is much more than a time of reflection—it is one of the most critical hiring seasons of the year. The decisions companies make now about their leadership teams will directly shape strategy execution and organizational success in 2026. At Consea, we see firsthand how executive hiring trends are evolving and how companies can seize this pivotal quarter to secure the leaders who will take them forward. Below, we explore the most important executive leadership hiring trends shaping the market and what they mean for organizations.
Rising Demand for Digitally Fluent Leaders
Digital transformation has been a recurring theme in business strategy for years, but the expectations of executive leaders continue to grow. Organizations are not just looking for leaders who understand digital tools. They want executives who can leverage data, AI, and emerging technologies to drive innovation and operational efficiency. In Q4, as companies set their strategic priorities for the year ahead, digitally fluent leaders are particularly sought after to ensure competitiveness in increasingly tech-driven industries. Whether in manufacturing, healthcare, retail, or finance, executives with strong digital capabilities are positioned to make an immediate impact.
Succession Planning Takes Center Stage
Another key trend in executive recruitment is the renewed emphasis on succession planning. With economic uncertainty, evolving workforce dynamics, and generational transitions in leadership, companies cannot afford to wait until a vacancy arises to think about who will step in. In Q4, boards and CEOs are more frequently evaluating their executive bench strength and taking steps to build leadership pipelines for 2026 and beyond. This proactive approach reduces disruption, ensures business continuity, and gives rising leaders the development opportunities they need to succeed when the time comes.
Pressure to Ensure Diverse Leadership Pipelines
Diversity, equity, and inclusion remain high on the executive agenda, and leadership hiring is a critical piece of the puzzle. Investors, employees, and customers alike expect organizations to reflect diverse perspectives at the decision-making table. For companies recruiting in Q4, this means paying careful attention to candidate slates, expanding search networks, and ensuring that recruitment partners prioritize diversity in both process and outcome. Building a diverse executive team is no longer optional—it is a business imperative tied to innovation, resilience, and long-term growth.
Why Q4 Matters for Executive Recruitment
While executive hiring is important year-round, Q4 presents unique advantages. Companies are finalizing strategies for the coming year, creating clarity about the skills and leadership profiles they need most. At the same time, senior leaders may be reflecting on their own career goals, making them more open to exploring new opportunities before the calendar turns. Seizing this window allows organizations to align leadership talent with strategic priorities and start 2026 with the right executives already in place.
How Consea Helps Companies Navigate Q4 Hiring
At Consea, we specialize in guiding organizations through these complex executive hiring decisions. From identifying digitally skilled leaders to building robust succession pipelines and ensuring diverse candidate slates, we partner with clients to align leadership recruitment with long-term business success. Our proven methodology and global network enable us to deliver results even in competitive markets. As companies face year-end hiring pressures, we provide the insight, agility, and expertise to secure leaders who will make a measurable difference in 2026 and beyond.
Position Your Company for Success in 2026
Q4 is not just the end of the year—it is the beginning of the next chapter in your company's growth. By recognizing the latest executive hiring trends and working with a trusted recruitment partner, organizations can set themselves up for lasting success. Learn more about how Consea supports organizations with executive search and head hunting tailored to today's evolving leadership landscape.
Navigating the Impact of US Tariffs: Industry-Specific Challenges and Strategic Responses
Updates as of April 29th: President Donald Trump has signed an executive order and a proclamation to ease auto tariffs. While the 25% tariff on imported cars remains unchanged, a new 25% tariff on auto parts will be implemented starting this weekend 3. The new fine print includes provisions for reimbursements to domestic car producers importing car parts. These reimbursements will be capped at 3.75% of the value of domestically produced cars for the first year, decreasing to 2.5% in the second year 3. Additionally, cars containing 85% parts that comply with the United States-Mexico-Canada Agreement (USMCA) and produced domestically will effectively avoid tariffs. In the meantime, on the global scale: China Eases Tariffs on Select US Goods: China has recently waived tariffs on US ethane imports, allowing Beijing to maintain a firm public stance while offering some relief.
US-China Tariff Negotiations: President Trump has stated that the US will not drop tariffs on China without something substantial in return. He emphasized the need for China to be more open to US businesses and products.
Tariff Talks with India: US Treasury Secretary Scott Bessent mentioned that India is likely to finalize a bilateral trade agreement with the US to avert reciprocal tariffs.
Economic Impact: The ongoing tariff policies have led to a turbulent economy, with China's manufacturing activity falling to a near two-year low. Recent Developments: Global Reactions and Market Impacts Since the announcement, several key developments have emerged: ● China's Retaliation: China has increased reciprocal tariffs on US goods to 84%, significantly impacting US exports to China.
● European Union's Response: The EU imposed 25% tariffs on a range of US imports as a countermeasure.
● Tariff Adjustments: President Trump authorized a 90-day pause on reciprocal tariffs for most countries, except China, where the tariff rate increased to 125%.
● Stock Market Surge: The US stock market surged, gaining $4 trillion in value after the announcement of a 90-day pause on tariffs for over 75 countries. Introduction In April 2025, President Trump announced a series of new tariffs aimed at addressing trade imbalances and protecting American industries. These tariffs, which vary by industry, have significant implications across sectors. This article not only explores the specific impacts on the automotive, machinery, food and beverage, medical devices, and pharmaceutical industries but also highlights the strategic role that Consea's executive search and human capital consulting services can play in helping companies navigate these turbulent times. Automotive Industry: A 25% Tariff Shock The automotive sector now faces a 25% tariff on imports, prompting immediate disruptions—Stellantis, for instance, has already announced temporary layoffs in the US and production suspensions in Mexico and Canada. These underline challenges the need for resilient leadership. Machinery Industry: Rising Costs and Supply Chain Disruptions Tariffs on steel and aluminum have driven up costs for the machinery sector, impacting production schedules for giants like Caterpillar and John Deere. Supply chain delays are becoming a norm, threatening profitability and operational efficiency. Food and Beverage Industry: Tariffs on Italian Imports With a 20% tariff now imposed on imports, the food and beverage industry faces steep cost pressures—illustrated by coffee brands like Lavazza planning to shift to 100% US production. Such policy changes force brands to re-evaluate their sourcing and supply chain strategies. Is Made in Italy in Danger? Our expertise helps companies balance tradition with innovation, ensuring that cherished brands continue to thrive even in a challenging regulatory landscape. Medical Devices: Global Supply Chain Challenges Medical device manufacturers are grappling with tariff-induced cost increases on globally sourced components. These challenges can delay production and reduce the availability of critical medical technologies. Pharmaceutical Industry: An Exemption Amidst Uncertainty While the pharmaceutical industry currently enjoys a tariff exemption, the potential for future policy changes requires vigilance. For These Issues, and Others, Consea is Qualified to Help Consea leverages decades of global expertise and a tailored, relationship-driven approach to help companies navigate the disruptive effects of new tariffs. By identifying and recruiting agile leaders equipped to manage supply chain challenges and operational shifts, we enable businesses to adjust quickly to economic pressures. Our integrated executive search and human capital consulting solutions offer strategic guidance that not only fills critical leadership gaps but also supports long-term growth and resilience in a volatile market. A Confident Partner in the Face of Uncertainty The new US tariffs present significant challenges across multiple industries, but with strategic planning and the right executive talent, companies can navigate these obstacles and continue to thrive. Consea's expertise in both executive search and human capital consulting is critical in supporting businesses through these transitions by providing leaders who drive innovative, agile responses. Take the next step : Contact Consea today for a complimentary, industry-specific tariff impact consultation to learn how we can tailor our executive search and consulting solutions to safeguard your business and drive success in this volatile market. Schedule Your Free Tariff Impact Consultation
Upskilling & Reskilling: The Future of Work, Talent Shortage, and Human Capacity Within Organizations
According to several market studies, the talent shortage has reached its highest level in Mexico. This is due to a lack of specific skills (a mix of technical capabilities and human factors) required from companies, especially in particular industries. Combined with the accelerated technological change management process e digital transformation we are living in, the scarcity of talent availability is further complicating the recruiting needs of many hiring managers. In 2022, in Mexico, and in some LATAM countries, more than 60% of employers reported difficulties in finding the right match – the highest number in the last 10 years. Today, it became essential to many organizations, to improve workforce skills as well as train and "recycle” professional talents in order to fill their internal positions and stay competitive. These two techniques are called Upskilling & Reskilling. Upskilling is the process of learning new skills or of teaching workers new skills. Reskilling is the process of learning new skills so you can do a different job, or of training people to do a different job. These tools became pivotal to address the Human Capital needs within the work environment, as well as to promote career pathing, succession planning, and retention programs, for most companies. Within the markets Consea operates with, we identified few sectors that currently are presenting the greatest demand for high-skilled profiles in Mexico: supply chain and manufacturing, finance and administrative positions, sales and marketing and engineering. To support your Human Capital needs, Consea Groupcan design a consulting plan tailored for your company, defining together an effective TALENT SEARCH and COMPANY CULTURE FITTING strategy. Follow Consea Group on LinkedIn to stay up to date on the latest trends in the labor market and to find out how to create and maintain a positive working environment in your organization. Authors Enrique Pedroza - Business Development Manager in Consea Group, Mexico Read the article in Spanish:
Upskilling & Reskilling: El futuro del trabajo, la escasez de talento y las capacidades humanas dentro de las organizaciones
Acorde a diferentes estudios de mercado, la escasez de talento ha llegado a su nivel más alto en México. Esto se debe a la falta de habilidades específicas (una combinación de capacidades técnicas y factores humanos) requeridas por las empresas, especialmente en industrias particulares. Combinado con el acelerado proceso de gestión del cambio tecnológico en el que vivimos y transformación digital, la escasez de talento complica aún más las necesidades de muchos Gerentes de contratación. En 2022, en México y en algunos países de LATAM, más del 60% de los empleadores reportaron dificultades para encontrar el personal adecuado, el número más alto en los últimos 10 años. Hoy en día, se vuelve esencial para las organizaciones mejorar las habilidades de la fuerza laboral, así como capacitar y "reciclar" talento profesional para ocupar un nuevo puesto dentro de la compañía y mantenerse competitivos. Estas dos técnicas se denominan Upskilling & Reskilling. Upskilling busca enseñar nuevas habilidades a un trabajador para optimizar su desempeño, mientras que Reskilling también conocido como reciclaje profesional, busca capacitar a un empleado para adaptarlo a un nuevo puesto dentro de la empresa. Estas herramientas se vuelven fundamentales para abordar las necesidades de capital humano dentro del entorno laboral, así como para promover la orientación profesional, la planificación de la sucesión y los programas de retención para la mayoría de las empresas. Dentro de los mercados con los que opera Consea Group, identificamos algunos sectores que actualmente presentan la mayor demanda de perfiles altamente calificados en México, tales como cadena de suministro, manufactura, finanzas, administrativos, ventas, mercadeo e ingenierías. Para apoyar sus necesidades de Capital Humano, Consea Group puede diseñar un plan de consultoría a la medida de su empresa, definiendo en conjunto una estrategia efectiva de BÚSQUEDA DE TALENTO que AJUSTE A LA CULTURA DE LA EMPRESA. Sigue a Consea Group en Linkedin para estar al día de las últimas tendencias en el mercado laboral y saber cómo crear y mantener un clima laboral positivo en tu organización.
Our office is getting bigger: new opening in Singapore
Consea Group, one of the leading executive search and HR consulting firms in the world, is proud to announce the opening of its new office in Singapore in June 2023. With the opening of the new office, Consea Group aims to expand its reach in the Asia-Pacific region and better serve its clients. The new office in Singapore will be the seventh branch at international level, joining its offices in Shanghai, Krakow, Sao Paolo, Mexico City, Chicago, and New York. Consea Group is dedicated at providing its clients with the highest quality executive search services, and the new office in Singapore will be no exception. With almost 20 years of experience in Asia thanks to the Shanghai office, Consea decided to follow the trend of senior managers, executives, entrepreneurs, and investors to conduct business in the Asian countries to consolidate and diversify its presence in the region, while maintaining a strong interested and attention to China. Due to her strong experience and knowledge of the Asian Market, the Consea’ Singapore office, already operational for a few weeks, will be managed by Gaia Ceccatelli, in Consea since 2019, as General Manager APAC. With an overall bullish hiring market in Singapore, there was a strong appetite to hire from almost every sector for a wide range of roles, with the highest demand being for executive and mid-management (5-12 years of experience) level professionals. A notable change was the increase of regional roles based in Singapore; with the country gradually becoming the APAC hub of choice for more multinational companies. This competitive recruitment landscape came as the economy fully opened up post-COVID-19, and companies would like to meet their growing demand to hire. Despite candidates showing greater willingness to move roles, it remained a candidate-short (and driven) market for the last months. The HR market is still a big challenge! Consea Group’s CEO, Chiara Altomonte, made the following statement about the company’s expansion into Singapore: “We are very excited to be expanding our presence in the Asia-Pacific region and to be able to offer our clients the same high-quality executive search services that we are known for. We are confident that the opening of our Singapore office will help us better serve our clients and help them finding the best candidates to fulfil their open positions.” We have many initiatives in the pipeline, follow us on LinkedIn so you don’t miss all the updates and projects we are developing! Authors: Chiara Altomonte – General Manager and Head of the Fashion & Retail division
Consea APAC: China Labor market outlook, with an eye on Asia 2024
More than a year after China’s reopening and its return to normal life, the exodus of foreign talent seems to have been partially stopped, even if many expats had already left the country between 2020 and 2022. In 2020, there were approximately 845,000 foreigners in Mainland China[1], including Chinese citizens holding foreign passports, while in 2023 the recorded number was 711,000.[2] At first glance, this number seems very encouraging, however, what might have changed is its composition. Based on reports from the different European chambers of commerce in China, the number of citizens coming from these countries has drastically reduced. As a matter of fact, according to the report issued by the European Union Chamber of Commerce, 25% of German citizens have left the country permanently, and similar numbers have also been recorded for French and Italian citizens (-20% each).[3] This drop appears to be much more drastic than the -15% recorded in 2023. If we take a closer look, this trend had already started prior the pandemic. Between 2010 and 2020, the number of American (-23%), French (-39%) and German (-22%) citizens on Chinese territory declined sharply, and so did the number of citizens from other countries such as Japan (-44%), South Korea (-51%), Singapore (-32%) and Australia (-4%). On the other hand, inflows from countries such as Myanmar (+783%), Vietnam (+119%), Laos (+590%), Cambodia (+1159%) and North Korea (+88 %) have increased exponentially, as well as for other African and South American countries.[4] The risk, therefore, for the country is to have lost a significant number of high-skilled labor from more developed countries, and to have partially compensated for this loss with the entry of low-skilled labors from emerging countries. This theory also seems to be supported by the distribution of foreign citizens on the territory; cities such as Beijing and Shanghai recorded a sharp decline in the number of immigrants in the period between 2010-2020 (-41.5% and -21.4% respectively), while Yunnan province recorded a 700% increase.[5] In conclusion, although precise data regarding the three-year period of 2020-2022 is still lacking, it is easy to assume that the trend that was already in place in the previous decade has been accelerated by the pandemic and the related restrictions put in place. Moreover, the disruption brought by the pandemic also had, among other effects, a strategic change towards the Chinese market; indeed, many foreign players have decided to adopt a “China for China” approach. China, therefore, is no longer a potential hub for managing the Asia/APAC region, but rather a market with highly localized organizational structures and a scope of responsibility limited only to China Mainland or Greater China borders. This has clearly triggered a greater focus on recruiting local talent, minimizing the number of expats in the country. We, as Consea, have seen first-hand a reduction in the number of executive searches (hyperlink https://consea-group.com/head-hunting/ ) of expatriates in the area. This new structure has led many companies to move their regional HQ, or to relocate some of the foreign decision makers to Singapore or other areas in South East Asia or Far East, depending on the industry and the business model implemented. Furthermore, many companies are evaluating other destinations in Asia for their new FDI (Foreign Direct Investment), such as Singapore (hyperlink https://consea-group.com/2023/06/14/nuova-aperto-a-singapore/ ), but also Vietnam, Thailand, Malaysia and India, particularly for the manufacturing sectors. This consideration is the result of several factors, including: the high labor cost: disposable income per capita in 2023 amounted to 39,218 yuan, up 3% on an annual basis in nominal terms[6];
the aging of the workforce: the age of the Chinese workforce increased from 37.1 in 2017 to 38.3 in 2022[7];
other macro-economic factors such as declining population, risk of deflation or stagnation, domestic consumption and exports still low, downturn of real estate market;
and the willingness to diversify the supply chain. FDI in the ASEAN region grew between 2020 and 2022 up to $227Bn, although 2023 saw a decline of -16%, but despite this, the number of greenfield project announcements in the region still increased by 37%. Also, India had a similar path in terms of incoming FDI and "greenfield projects".[8] For this reason, we are seeing a growing demand for foreign talent coming from these areas. Nevertheless, numbers for China seem to be encouraging and improving for 2024. According to official data, unemployment in urban areas fell by 0.4 percentage points in 2023 to 5.2%[9], so did youth unemployment which fell to 14.9% in December 2023, after the peak of 21.3% reached in July of the same year[10]. GDP ‘s growth has returned to levels around +5%[11], and the government is planning various measures and incentives aimed at helping the economy. Among these, of particular importance for companies and foreign citizens, there are certainly the tax exemption on benefits for foreign staff, promulgated until 31 December 2027, and the "visa-free" entry guaranteed to citizens from the main Europeans countries, as well as from Malaysia and Singapore. Although not sufficient to reverse a trend that has been undergoing for several years now, they are certainly important signs of going in the right direction. Author: Matteo Scipioni Bertoli, Head of Business Development & Delivery APAC [1] China embraces increasing foreign residents, China Daily, 2021 https://global.chinadaily.com.cn/a/202105/12/WS609b14c5a31024ad0babd49f.html [2] Foreigners living in China in 2023 return to 85% of 2019 levels; simplified border measures to facilitate more foreign visitors: NIA, Global Times, 2024 https://www.globaltimes.cn/page/202401/1305619.shtml [3] European Chamber of Commerce, European Business in China Shanghai Position Paper 2023/2024. [4] Number of foreigners in China, results of 7th national census, Expat Focus, 2022 https://mp.weixin.qq.com/s/nfm1Vzfdu0LC8mXgBggxbQ [5] Goodbye China: What Do Fewer Foreigners Mean for Multinationals and the Chinese Economy?, Intereconomics, volume 57, 2022, number 5 https://www.intereconomics.eu/contents/year/2022/number/5/article/goodbye-china-what-do-fewer-foreigners-mean-for-multinationals-and-the-chinese-economy.html#footnote-008 [6] China's per capita disposable income grows 6.3 pct in 2023, Xinhua, The State Council The People’s Republic of China January 17, 2024 https://english.www.gov.cn/archive/statistics/202401/17/content_WS65a73d26c6d0868f4e8e32e0.html [7] China’s Changing Labor Market – Trends and Future Outlook, China Briefing, 2023 https://www.china-briefing.com/news/chinas-labor-force-data-trends-and-future-outlook/ [8] Global FDI in 2023 was weak, with lower flows to developing countries, United Nations UNCTAD, Issue 46, 2024 https://unctad.org/system/files/official-document/diaeiainf2024d1_en.pdf [9] China Unemployment Rate, Trading Economics https://tradingeconomics.com/china/unemployment-rate [10]China Youth Unemployment Rate, Trading Economics https://tradingeconomics.com/china/youth-unemployment-rate [11] National Economy Witnessed Momentum of Recovery with Solid Progress in High-quality Development in 2023 https://www.stats.gov.cn/english/PressRelease/202401/t20240117_1946605.html
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