News Story

THE HOTSPOTS OF RECRUITMENT ACTIVITY

The latest Hays Quarterly Report shows hiring intentions are improving and a greater variety of skills are in demand than we’ve seen throughout the year.

The Hays Quarterly Report tracks skills in demand, and in its October edition includes such roles as Talent Managers, IT Sales Managers and Commercial Property Lawyers, among others.

“Over the year pockets of demand certainly existed, but they were often centred upon managing the effects of the financial crisis,” said Emma Charnock, Regional Director of Hays in Hong Kong and China. “Audit, compliance and risk specialists and insolvency Lawyers for example were all in demand.

“Now, employers are also turning their focus to preparing for the expected upturn in business activity. Caution remains, but confidence is returning. They are recruiting staff to drive revenue, minimise risk and improve processes as well as rebuilding teams which have been coping with an increased workload due to past redundancies. Headcount approval is attained more easily and some headcount freezes are lifting.

“As a result, there are areas that are feeling either a general, or in some cases acute, level of skills shortages. This is particularly obvious in the construction and property market, where demand is expected to exceed the current resource pool as projects progress,” Emma said.

According to the Hays Quarterly Report, the skills in demand include:

  • Accountancy & Finance: Pressure to adhere to governance in addition to changing reporting requirements has created a demand for financial report skills in Hong Kong. Taxation skills are sought by Chinese employers given changing tax regulations. Candidates with professional certificates, such as CPA or ACCA and strong Executives of Finance are also sought.

  • Banking: Retail Branch Managers, VIP Customer Service Representatives and premier Relationship Managers are needed to manage relationships and drive sales. The expansion of corporate banking businesses is creating a need for relevant management experience. Finally, risk management skills (market, capital and liquidity) and RMB product sales experience are sought.

  • Construction & Property: Architectural and engineering professionals with rail and infrastructure experience are sought at all levels. China also seeks Design Managers, Design Directors and candidates with industrial experience. Those with mechanical and electrical experience, and EPCM Project Managers, are in most demand at present.

  • Education: Teachers of science, in particular high-level physics and chemistry, are sought in China. The popularity of a US university education is rising amongst Chinese students, creating demand for Advanced Placement (AP) qualified teachers from Canada and the US. The demand for an International General Certificate of Secondary Education (IGCSE) and A-levels remains strong, with an International Baccalaureate (IB) becoming more popular.

  • Human Resources: Employers want to ensure they attract and retain the right talent for the economic recovery. This has created a need for Talent Management and HR professionals with change management, implementation and strategic experience. Chinese employers also seek Compensation & Benefits professionals to examine their structure and incentive schemes.

  • Information Technology: Candidates with finance sector experience in front office risk analysis are in demand and financial vendors want IT Sales Managers to capitalise on the slight economic upturn. China remains an attractive market to establish shared service centres and global delivery centres, so technical skills such as Java, Websphere, Oracle and Microsoft technologies are wanted.

  • Insurance: Vacancies are strong in Hong Kong for candidates with strategic planning and M&A experience to expand market share. Project and Program Managers with a strategic background are sought. Those with in-depth IFRS accounting knowledge specific to the insurance industry, Financial Planning, Analysis, Capital Management, Compliance and Risk candidates are all also sought.

  • Legal: In Hong Kong, derivatives and structured products are the prime areas of demand as markets improve. Financial services organisations are hiring, with insurance demand high, while candidates with M&A and corporate experience are valued. Commercial property lawyers are also sought in the improving property development sector. Within private practice, restructuring and insolvency is busy.

  • Manufacturing & Operations: Candidates with strong business development experience are sought in China as companies look for new markets and seek to grow their business. Demand also exists for strong research and development candidates. Quality Management and Continuous Improvement candidates are sought as product performance is critically important to thrive in the current market.

  • Pharma: The increasing number of multinational pharmaceutical companies transferring global projects to China has created demand for clinical experts such as Clinical Research Associates (CRA). There is also strong and consistent demand for sales skills.

  • Sales & Marketing: Senior Director/VP-level merchandising and sourcing candidates are in high demand in South China. Both China and Hong Kong employers seek E-commerce candidates. Marketing vacancy activity centres upon Research Analysts, Data Mining and Consumer Behaviour Managers. Candidates require an analytical approach to marketing campaigns.

The full Hays Quarterly Report can be viewed at www.hays.com.hk/forecast and www.hays.cn/forecast

- Ends -

For further information please contact Lucy Sharp, Marketing Manager of Hays, on +612 8226 9885 or lucy.sharp@hays.com.au

Back to News