One of the world’s largest cities with a history spanning over a thousand years, Shanghai is packed with both heritage and modernity. Beyond its instantly recognizable landmarks such as the Oriental Pearl Tower, Jade Buddha Temple, and Yuyuan Garden, it is also an economic powerhouse, and home to one of Phaidon International’s newest offices.
We caught up with Chris Wong, Associate Director at Phaidon International Shanghai, to learn about the evolving business landscape in the city, and how he supports both local and international businesses with their growing demand for talent while nurturing his own team.
Each month, we'll release a new blog post in our series, diving deep into the unique culture and operations of our key offices located in various corners of the globe.
Originally from Canada, Chris joined Phaidon International’s Hong Kong office over nine years ago after finishing university, and progressed his career from consultant through to management. Recognizing China’s mounting demand for specialist talent services, he jumped at the opportunity to relocate to Shanghai and open a new office to provide better support to local clientele, and today is responsible for Phaidon International’s growth in China.
Alongside connecting local businesses and professionals, Chris’ vision is to become the trusted talent partner of choice for global multinational companies that want to penetrate the Chinese market, helping them to navigate cultural nuances to secure sought-after talent to support their expansions.
“Having a strong understanding of Shanghai’s local markets and culture, combined with the big picture knowledge we have as a global talent partner specializing in multiple industries, really differentiates us as a talent partner,” says Chris.
Exploring Market Dynamics & Talent Trends in Shanghai
There are over 700 cities in China, which are categorized into four tiers under the country’s unofficial City-Tier System, based on factors like economic development, population size, and income level. These help anyone from foreign investors to tourists navigate the huge scale and ever-changing complexities of China’s markets.
Shanghai is classed as one of China’s four ‘Tier 1’ cities, meaning it has significant economic and cultural importance. Its population exceeds 24 million people, and along with being one of China’s leading economic, financial, and trading hubs, it boasts world-class infrastructure, a rich cultural heritage, and a plethora of sights and attractions.
As a relative newcomer to Shanghai himself, Chris is no stranger to what makes the city so enticing for both businesses and professionals:
“Shanghai is a mix of East and West with an intersection of cultures, which makes for a cosmopolitan city with a diverse population, and a dynamic job market across many industries. Its cultural heritage combined with its unique lifestyle often make it the first choice for people relocating to China, as well as companies looking to break into the Chinese market.”
The Shanghai Government has launched various initiatives to help position the city as a global leader in many industries, including financial services, life sciences, and manufacturing, and these markets are all growing rapidly. Chris shares some of the areas where businesses are most commonly seeking Phaidon International’s help sourcing the best talent, whether locally or from overseas:
“The financial services industry has experienced significant growth over the past few years and Shanghai is now a major, well-established financial hub. Companies are seeking professionals across functions including investment banking, quants, financial technology, and regulatory as China opens up its markets, and that includes international professionals who are willing to relocate to help solve that skills gap.”
Chris continues, explaining how COVID-19 has shifted the talent demands in other industries:
“Since the pandemic, China has become more reliant on its own economy, so a lot of innovation and R&D is taking place here, particularly in Shanghai with it being a Tier 1 city. As a result, business growth is very strong in areas like manufacturing, engineering, technology, supply chains, and life sciences, and these all need the right talent to drive them.”
With three offices located throughout APAC, and a further 12 spanning the USA and Europe, Phaidon International’s expansive talent networks allow companies access to the world’s best talent in each of these industries precisely when they need them.
Further Financial Talent Insights for China
In addition to leading Phaidon International’s business strategy in China, Chris also heads up Selby Jennings, one of our six industry-focused brands that specializes in financial sciences & services talent solutions.
He recently shared his insights into China’s evolving business and talent landscape in Selby Jennings’ new report, ‘The Future of Financial Services in China – 2024’, which offers an in-depth exploration of the factors shaping the country’s financial landscape, including consumer demand, regulatory changes, and financial functions experiencing notable growth.
These developments have all impacted hiring, so Chris also provides an update on salary expectations and compensation packages, advises on in-demand skills, and gives in-depth guidance on how to attract and retain top talent.
Useful for anyone working in or with Chinese markets, this report can be downloaded exclusively on the Selby Jennings website.
Commitment to Careers and Workplace Wellbeing
Having worked at all levels of the business and experiencing the incredible progression opportunities at Phaidon International, Chris is passionate about developing his own team. He emphasizes that when you join the company, you gain more than just a job; you are starting a career:
“When I’m interviewing internally, I want to make sure that people understand they can build a career with us. They will have a clear progression path, and the resources and training to support their personal development. You really don’t have to switch companies to switch jobs here either; you get the opportunity to work in different roles once you have the ability and experience to do so.
“With us in Shanghai, we are still in the early growth phase of our office and are a lean team, so we have a startup feel despite being part of a global organization. That means anyone joining our team gets the exposure to take on responsibilities, but at the same time gets the stability, resources, and support to back them up.”
While promoting career development is a key aim for Chris, he also focuses heavily on wellbeing. The team recently celebrated Lunar New Year, and Chris details how he ensured his team got to make the most of the holiday:
“As a business we prioritize employee wellbeing and family values, especially on special occasions like Lunar New Year. So our employees could spend more time with their families and embrace the spirit of the holiday I made the decision to close the office early, so everyone could avoid the travel rush getting back to their hometowns. We also had a meal together on our first day back to symbolize the new year, strengthen our bonds and team spirit, and kick off the year on a high.”
We are always searching for the right people to join our teams, and provide them with all the tools they need to succeed. Browse open roles at our 15 locations around the world and see where a career at Phaidon International could take you.
