BEIJING, May 25, 2017 /PRNewswire/ -- Zhaopin Limited
(NYSE: ZPIN) ("Zhaopin" or the "Company"), a leading career
platform[1] in China
focused on connecting users with relevant job opportunities
throughout their career lifecycle, today released a report on its
2017 career survey of college graduates in China. The report found that college graduates
are facing a more challenging labor market, and declining average
monthly salary.
China will have a record of
7.95 million graduating students joining the labor force this year.
Zhaopin conducted its 2017 survey of college graduates to analyze
their employability, based on their perceptions of the labor
market, job-hunting efforts and results. About 93,420 college
graduates participated in the survey this year, including junior
college graduates, undergraduates and graduate students.
Strong overall market
There are signs that the overall labour is showing signs of
strengthening in line with overall economy gaining momentum. This
has been evidenced by the CIER index compiled by Zhaopin and Renmin
University, which tracks the ratio of job vacancies to job seekers
in a variety of industries and cities across the country, rose to
1.91 in the first quarter of 2017, from 1.71 during the same period
of 2016. The rising index is an indication the labour market had
improved with the economy as was reported in April.
But certain challenges exist for graduates
However, not all parts of the labour market are strengthening.
The record size of this year's graduating class is posing unique
challenges for graduates. With such a large graduating class this
year, new job seekers still face a daunting challenge, especially
those from less well-known universities outside the top tier. To
help address some of these challenges, Zhaopin has developed the
National Employability Test to both help graduates and employers
identify suitable talents.
Highlights of Zhaopin's 2017 report on college
graduates:
- About 40.8% of graduates believed the labor market was very
challenging this year, up from 36.5% last year.
- 26.7% of college graduates had signed employment contracts this
year, down from 35.4% last year.
- The average monthly salary for college graduates declined by
16% this year to RMB4,014.
- The average monthly salary for male graduates was RMB4,374, higher than RMB3,624 for female graduates.
- The IT/telecom/electronics/internet sector offered the highest
monthly salary of RMB4,867, followed
by RMB4,692 in the financial sector
and RMB4,457 for the
traffic/transportation/logistics/warehousing sector.
- For the first time since Zhaopin started the survey in 2014,
"opportunities to learn and grow" overtook "good salary and
welfare" as the most important factor for college graduates in
assessing jobs.
Challenging labor market for college graduates
Zhaopin's survey shows that college graduates are facing a more
challenging labor market this year. About 40.8% of graduates
believed the market is very challenging this year, up from 36.5%
last year. 47% of graduates thought the job market was acceptable,
even though difficult.
2017 labor market
situation for colleges graduates
|
Difficult and very
challenging
|
40.8%
|
Difficult, but
acceptable
|
47.0%
|
The market was
OK
|
9.4%
|
Not difficult at
all
|
0.8%
|
Not clear
|
2.0%
|
Trying to secure a job, 41.3% of graduates submitted 11 to 30
resumes this year, and 11.7% even gave out more than 51 resumes to
potential employers.
Resume submission
by college graduates
|
More than 51
resumes
|
11.7%
|
31 to 50
resumes
|
12.5%
|
11 to 30
resumes
|
41.3%
|
Under 10
resumes
|
31.5%
|
Did not submit
resume
|
3.0%
|
It was more difficult to get interview opportunities this year,
Zhaopin found. 31.9% of college graduates got 1 to 3 interviews,
and 27.1% had 4 to 5 interviews. About 8.3% of graduates did not
get any interviews this year, up from 3% last year.
Interviews
obtained by college graduates
|
More than 11
interviews
|
12.0%
|
6 to 10
interviews
|
20.7%
|
4-5
interviews
|
27.1%
|
1-3
interviews
|
31.9%
|
No
interview
|
8.3%
|
By the end of April this year, 27.7% of college graduates still
had not received any job offer, higher than the 24.8% seen last
year. Meanwhile, 50.2% of graduates got 1 to 3 job offers, lower
than the 55.4% last year.
Job offers for
college graduates
|
No offer
|
27.7%
|
1 offer
|
15.5%
|
2 offers
|
18.9%
|
3 offers
|
15.8%
|
4 offers
|
9.1%
|
5 offers
|
6.0%
|
6 offers
|
4.9%
|
7 or more
offers
|
2.0%
|
About 26.7% of college graduates had signed employment contracts
this year, down from 35.4% last year. 29.5% of male graduates and
24.7% of female graduates signed contracts this year.
Employment
contracts for college graduates
|
Signed
contract
|
26.7%
|
Did not sign contract
yet
|
73.3%
|
For graduates who had job offers but declined to sign contracts,
the top reasons were "salary/welfare did not meet expectation"
(35.5%), "did not like position/work" (32.4%), and "not satisfied
with work location" (27.7%).
Reasons for not
accepting job offers
|
Salary/welfare did
not meet expectation
|
35.5%
|
Did not like
position/work
|
32.4%
|
Not satisfied with
work location
|
27.7%
|
Waiting for better
offers
|
22.2%
|
Poor outlook for
career development
|
21.2%
|
Work environment did
not meet expectation
|
19.6%
|
Poor industry
outlook
|
11.1%
|
Choosing among
multiple offers
|
10.1%
|
Company reputation
did not meet expectation
|
6.7%
|
Ready to sign
contract
|
6.4%
|
Start-up company with
high risk
|
5.7%
|
Declining monthly salary
Both the expected and actual monthly salary for college
graduates declined this year, Zhaopin survey found. The average
expected monthly salary was RMB4,875
this year, a drop of RMB110 from last
year. The average actual monthly salary for college graduates
declined by RMB751 to reach
RMB4,014 this year.
Average monthly
salary for college graduates (RMB)
|
|
Expected
|
Actual
|
2014
|
4,357
|
3,945
|
2015
|
5,265
|
4,793
|
2016
|
4,985
|
4,765
|
2017
|
4,875
|
4,014
|
The average actual monthly salary for male graduates was
RMB4,374, higher than RMB3,624 for female graduates. The
IT/telecom/electronics/internet sector offered the highest monthly
salary of RMB4,867, followed by
RMB4,692 from the financial sector
and RMB4,457 from the
traffic/transportation/logistics/warehousing sector.
Sectors with
highest average monthly salaries for college
graduates
(RMB)
|
IT/telecom/electronics/internet
|
4,867
|
Financial
|
4,692
|
traffic/transportation/logistics/warehousing
|
4,457
|
Among graduates who already signed employment contracts, 33.5%
choose to work in first-tier cities and 33.1% would go to emerging
first-tier cities. Emerging first-tier cities were actually more
attractive to college graduates as 37.5% of them desired to find
jobs there.
Cities selected by
college graduates
|
|
Preferred
|
Actual
|
First-tier
cities
|
29.9%
|
33.5%
|
Emerging first-tier
cities
|
37.5%
|
33.1%
|
Second-tier
cities
|
21.3%
|
19.0%
|
Third-tier cities and
below
|
11.3%
|
14.4%
|
The IT/telecom/electronics/internet sector was the most
attractive sector with 19.4% of college graduates preferred to work
in this field and 20.3% actually found related jobs.
Sectors selected
by college graduates
|
|
Preferred
|
Actual
|
IT/telecom/electronics/internet
|
19.4%
|
20.3%
|
Culture/media/entertainment/sports
|
9.6%
|
3.3%
|
Financial
|
9.3%
|
7.8%
|
Professional service
(consulting/finance and
accounting/legal/AD/PR/authentication/outsourcing)
|
9.1%
|
5.6%
|
Real
estate/construction
|
8.0%
|
11.2%
|
Service(healthcare/nursing/beauty/hotel/restaurant/
travel/vacation)
|
6.9%
|
8.6%
|
Automobile/manufacturing/processing
|
6.7%
|
15.3%
|
Trade/wholesale/retail/leasing/FMCG/durable
consumer goods
|
6.2%
|
7.5%
|
Education/arts and
crafts
|
5.7%
|
4.3%
|
Government/non-profit
organization
|
5.0%
|
0.7%
|
Energy/mineral/environmental protection
|
3.4%
|
3.6%
|
Traffic/transportation/logistics/warehousing
|
2.9%
|
4.2%
|
Farming/forestry/animal husbandry/fishery
|
0.9%
|
1.2%
|
Others
|
7.0%
|
6.5%
|
Changing attitude
As to future plans after graduation, about 73.5% of graduates
would find a job. Students planning for further education in
China dropped sharply to 6.3% this
year, from 16.5% last year. Students planning for further education
overseas also declined to 3.4% this year, from 4.8% last year.
Nearly 10% of graduates said they don't intend to take a job after
graduation. They would like to take some time off to travel, do
volunteer work, or spend time with parents.
Intentions after
graduation
|
Looking for a
job
|
73.5%
|
Further education in
China
|
6.3%
|
Further education
overseas
|
3.4%
|
Start own
business
|
6.3%
|
Taking some time
off
|
9.8%
|
Others
|
0.7%
|
What is the ideal job for college graduates? About 55.9% of
graduates preferred jobs with "opportunities to learn and grow",
while 52.2% chose "good salary and welfare". It was the first time
since Zhaopin started the survey in 2014 that "opportunities to
learn and grow" had overtaken "good salary and welfare" as the most
important factor for college graduate to assess a job.
Ideal job for
college graduates
|
Opportunities to
learn and grow
|
55.9%
|
Good salary and
welfare
|
52.2%
|
Growth potential of
industry/company
|
34.9%
|
Harmonious company
environment
|
25.2%
|
Fit with personal
interests
|
22.8%
|
Room to perform with
abilities
|
20.5%
|
Suitable
position
|
19.1%
|
Clear
career development path
|
17.8%
|
Balance of work and
life
|
16.2%
|
Freedom in
workstyle
|
13.5%
|
Others
|
0.3%
|
College graduates were more rational with overtime. They would
work overtime when necessary to complete urgent projects, finish
their own work, or improve their skills. About 40.3% of graduates
would accept 2 to 5 hours of overtime a week, and 23.1% could work
overtime 5 to 8 hours a week.
Acceptable
overtime for college graduates
|
Within 2 hours a
week
|
24.5%
|
2 to 5 hours a
week
|
40.3%
|
5 to 8 hours a
week
|
23.1%
|
8 to 10 hours a
week
|
8.6%
|
No
overtime
|
3.5%
|
About Zhaopin Limited
Zhaopin is a leading career platform in China, focusing on connecting users with
relevant job opportunities throughout their career lifecycle. The
Company's zhaopin.com website is the most popular career platform
in China as measured by average
daily unique visitors in each of the 12 months ended March 31, 2017, number of registered users as of
March 31, 2017 and number of unique
customers[2] for the three months ended March 31, 2017. The Company's over 135.0 million
registered users include diverse and educated job seekers who are
at various stages of their careers and are in demand by employers
as a result of the general shortage of skilled and educated workers
in China. In the fiscal year ended
June 30, 2016, approximately 36.9
million job postings[3] were placed on Zhaopin's
platform by 509,813 unique customers including multinational
corporations, small and medium-sized enterprises and state-owned
entities. The quality and quantity of Zhaopin's users and the
resumes in the Company's database attract an increasing number of
customers. This in turn leads to more users turning to Zhaopin as
their primary recruitment and career- related services provider,
creating strong network effects and significant entry barriers for
potential competitors. For more information, please visit
http://www.zhaopin.com.
Safe Harbor Statements
This press release contains forward-looking statements made
under the "safe harbor" provisions of Section 21E of the Securities
Exchange Act of 1934, as amended, and the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking
statements can be identified by terminology such as "will,"
"expects," "anticipates," "future," "intends," "plans," "believes,"
"estimates," "confident" and similar statements. Zhaopin may also
make written or oral forward-looking statements in its reports
filed with or furnished to the U.S. Securities and Exchange
Commission, in its annual report to shareholders, in press releases
and other written materials and in oral statements made by its
officers, directors or employees to third parties. Any statements
that are not historical facts, including statements about Zhaopin's
beliefs and expectations, are forward-looking statements that
involve factors, risks and uncertainties that could cause actual
results to differ materially from those in the forward-looking
statements. Such factors and risks include, but not limited to the
following: Zhaopin's goals and strategies; its future business
development, financial condition and results of operations; its
ability to retain and grow its user and customer base for its
online career platform; the growth of, and trends in, the markets
for its services in China; the
demand for and market acceptance of its brand and services;
competition in its industry in China; its ability to maintain the network
infrastructure necessary to operate its website and mobile
applications; relevant government policies and regulations relating
to the corporate structure, business and industry; and its ability
to protect its users' information and adequately address privacy
concerns. Further information regarding these and other risks,
uncertainties or factors is included in the Company's filings with
the U.S. Securities and Exchange Commission. All information
provided in this press release is current as of the date of the
press release, and Zhaopin does not undertake any obligation to
update such information, except as required under applicable
law.
[1]
Zhaopin's website is the most popular career platform in China as
measured by average daily unique visitors in each of the 12 months
ended March 31, 2017, the number of registered users as of
March 31, 2017 and the number of unique customers for the three
months ended March 31, 2017.
|
[2] A
"unique customer" refers to a customer that purchases the Company's
online recruitment services during a specified period. Zhaopin
makes adjustments for multiple purchases by the same customer to
avoid double counting. Each customer is assigned a unique
identification number in the Company's information management
system. Affiliates and branches of a given customer may, under
certain circumstances, be counted as separate unique
customers."
|
[3]
Zhaopin calculates the number of job postings by counting the
number of newly placed job postings during each respective period.
Job postings that were placed prior to a specified period - even if
available during such period - are not counted as job postings for
such period. Any particular job posting placed on the Company's
website may include more than one job opening or
position.
|
For more information, please contact:
Zhaopin Limited
Ms. Daisy Wang
Investor Relations
ir@zhaopin.com.cn
ICR Beijing
Mr. Edmond Lococo
Phone: +86 10 6583-7510
Edmond.Lococo@icrinc.com
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SOURCE Zhaopin Limited