China investors grapple with wage rise
Reuters | HT Correspondent, Beijing
Mar 26, 2012 11:10 PM IST
US lawnmower manufacturer Briggs & Stratton is used to worrying about turnover.
US lawnmower manufacturer Briggs & Stratton is used to worrying about turnover.
Like many foreign investors in China, the Milwaukee-based firm has been hit by a steady rise in wages -which puts it in the same boat as many US businesses in China responding to a survey released on Monday by the American Chamber of Commerce. Foreign employers such as Briggs & Stratton face a shortage of experienced, English-speaking engineers and managers, and find it expensive to recruit and retain good staff.
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Rather than waiting around for extra digits on their paychecks, China's white collar workers are creating their own pay raises by jumping ship at the slightest temptation.
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