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Main vectors in addressing the challenges on the labour market of bank employees in the PRC in the context of the global economy


Chzhan Venchzhi
(about the author)

Chzhan Venchzhi – (RUDN University)

Published in:
Russian Journal of Labor Economics
– Volume 5, Number 1 (January-March 2018)

JEL classification: G21, J21, J61

Keywords: Bank employees, banking sector, banks, china, labor market, labor migration, South and Southeast Asia countries


Citation:
Chzhan Venchzhi (2018). Main vectors in addressing the challenges on the labour market of bank employees in the PRC in the context of the global economy. Russian Journal of Labor Economics, 5(1), 329-342. doi: 10.18334/et.5.1.38828


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Abstract:

The article justifies the main measures for solving the problems on the labor market of Bank employees in the PRC. At the beginning of the article we identify the main problems, among which we mark out fast decrease in the number of bank employees, growing unemployment among bank employees, the lack of professional senior managers on the labor market, difficulties in finding jobs in banks for University graduates, increase in the outflow of specialists of the banking sector abroad, wages cuts in the banks, including for senior management. We reveal the causes of the current situation in banks in the PRC, namely, active computerization of banking activities, lack of educational programs in banking sector, consequences of economic crisis, etc.. The author suggests a number of measures for harmonization of the labor market of Bank employees, namely, professional retraining, development of state programs for support of talented young people in establishing their own small business, consideration by the bank management of the possibility of reduction of working hours for each employee in order to minimize the layoffs of bank employees, the optimization of the system of labor remuneration and social guarantees for bank employees, etc.








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