On April 24th, China General Chamber of Commerce – USA (CGCC) and CGCC member company Bank of China USA co-hosted the Asian HR Forum at the Bank of China in New York. Led by top professionals from CGCC member company Littler Mendelson, Ameriprise Financial, Berry Appleman & Leiden LLP (BAL), and Mercer, the forum provided attendees with access to updates on local employment laws, advanced HR information and networking opportunities. Over 90 Human Resources (HR) professionals, local attorneys, and Asian industry leaders from leading Chinese and American companies came together for the event.
Alan Wong, Senior Vice President and Human Resources Director of Bank of China New York Branch, opened the event by welcoming attendees and presenting various HR challenges in the foreign banking industry.
“It is our goal to help build a community and to provide this [the forum] as a platform for everyone to extend your network and expand your knowledge,” said Wong.
Wong’s remarks were followed by a presentation titled “Legal Environment for Talent Management,” given by Philip Berkowitz, Co-chair and Shareholder of Littler Mendelson and Devjani Mishra, Shareholder of Littler Mendelson. In the presentation, Berkowitz and Mishra presented ten key legal issues and changes in labor and employment laws in New York. Among the key changes and updates discussed included sexual harassment training requirements, paid family leave, paid voting time, and new protected categories under New York City and New York State.
The second presentation led by Anna Orgera, Partner at Mercer, focused on “Benefits and Compensation in the Local Market.” Orgera presented data from Mercer’s different research studies on global talent trends and diversity and used the data to show how HR professionals can work to create a holistic reward strategy for employees.
The latter half of the forum discussed “Retirement Contributions and Benefits,” “Immigration/Expatriate Management,” and “Cultural Integration and Alignment in M&A.”
Shelley Mau, Financial Advisor at Ameriprise Financial, outlined the various retirement plans employers can provide to their employees, including the Traditional IRA, Simple IRA, and different 401(k) plans.
Robert Groban, Partner at Berry Appleman & Leiden LLP (BAL), explained the recent challenges and changes in the American working environment for expatriates and requirements for H and L visas.
Jeff Cox, Senior Partner at Mercer, closed the speaking portion of the forum by emphasizing the importance of cultural understanding between parties during merger and acquisition (M&A) deals. Using Mercer’s research gathered from specific deals as evidence, Cox explained that many M&A deals have been unsuccessful or faced many challenges in a large part due to the lack of understanding of culture and different work environments. “Culture is at the center of a business,” said Cox.
CGCC extends great thanks to co-host Bank of China, event sponsors Littler Mendelson, Ameriprise Financial, Berry Appleman & Leiden LLP (BAL), and Mercer as well as to the forum’s speakers for providing important HR updates, resources and unique insights to event attendees.
Founded in 2005, the China General Chamber of Commerce – USA (“CGCC”) has been recognized as the largest and most influential non-profit organization representing Chinese enterprises in the U.S. Its membership consists of more than 1,500 Chinese and U.S. companies, 54 of which are ranked on the 2018 Fortune Global 500. CGCC’s mission is to create value, generate economic growth, and enhance cooperation between the U.S. and Chinese business communities. CGCC conducts extensive research and provides a broad range of programs, services, and resources to its members and key stakeholders in an effort to foster the mutual understanding, trust, and engagement between China and the U.S. As of 2018, CGCC’s Chinese member companies have cumulatively invested over $120 billion, employ more than 200,000 people, and support over one million jobs throughout the United States.
CGCC is a national organization and includes CGCC-New York (CGCCUSA-HQ), CGCC-Chicago, CGCC-Houston, CGCC-Los Angeles, CGCC-San Francisco and CGCC-Washington D.C.