Date
27 April 2018
Hui Ka-yan, chairman of China Evergrande Group, speaks at a news conference in Hong Kong on Monday following the company’s 2017 results announcement. Photo: Bloomberg
Hui Ka-yan, chairman of China Evergrande Group, speaks at a news conference in Hong Kong on Monday following the company’s 2017 results announcement. Photo: Bloomberg

Why Evergrande is hiring more fresh graduates

There is a popular saying in the business community that goes “If you want to sell something, find China Evergrande.”

Well, if you want to sell yourself, you might as well seek out that very same Chinese firm!

Going through the annual results filing of Evergrande on Monday, apart from the impressive 37 billion yuan net profit and 311 billion yuan revenue, what caught my attention were some paragraphs that outlined the human resources strength and the hiring moves of the group.

Frankly, I was amazed at how many university students that the mainland property developer, which is controlled by tycoon Hui Ka-yan, hired in the past year.

According to the Evergrande filing, the group hired 3,283 fresh graduates in the first half of 2017 through open recruitment, including 273 from top 10 colleges and universities such as Peking University and Tsinghua University.

That was up 150 percent compared to the fresh graduates the developer hired in 2016.

Evergrande’s rivals, incidentally, don’t provide such information in their own stock-exchange filings, so can we assume their figures are not much to crow about.

To put things into perspective, Evergrande appears to have single-handedly hired freshers equal in number to the post-graduates in the Chinese University of Hong Kong last year.

The recruitment, however, makes sense once we get to learn about the vast and expanded property portfolio of the company.

Evergrande has mentioned 766 properties in its business summary, a list that took up 20 pages. So that works out to around four fresh graduates for each project.

As of end-December, the group — China’s biggest China property firm in terms of market value — had total headcount of 125,526, up 40 percent over the previous year.

The company claims that roughly 90 percent of the employees hold bachelor’s degree or above in property development or construction, “forming a team of young, highly educated and high-quality personnel.”

As such, it is not surprising that Evergrande says it organized approximately 75,877 training sessions and professional seminars for staff, with the total training hours adding up to more than 173,000.

The group “firmly believes that talents are the most important corporate resources, and always adheres to a people-oriented human resources development strategy, creating a sound working environment featuring harmonious development,” Evergrande wrote in its filing.

Now, with an aggressive 550 billion yuan sales target, we can expect the developer to step up hiring even further this year and the next.

So, if you are about to graduate and want to land a good job, go find China Evergrande!

 – Contact us at [email protected]

RC

EJ Insight writer

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