China's Talent War

Matthew Niederhauser / Institute for TIME

Workers' compensation Youku's Silicon Valley—style perks like stock options, massages and foosball tables help keep the employee turnover rate low

Wang Yinhong is a China CEO's dream. He is also a China CEO's nightmare. Trained at one of the country's most elite universities, the 30-year-old Shanghai native has a degree in chemical engineering and an M.B.A. He is a bright, hardworking young employee — the kind of guy companies in any number of industries would die for. And the problem is, Wang knows it. He's with his fourth company in seven years. "I keep getting better and better job offers, so I keep accepting new jobs," says Wang, now working in Shanghai for a research-intensive biotech firm that just...

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