CHINA’S TECH JOB MARKET IS MORE CANDIDATE SHORT THAN EVER IN THE WAKE OF COVID-19 CRISIS

From a growing demand for live streamers to a boom in online education, digital healthcare, e-commerce and cloud infrastructure – the digital technology sector in China saw significant expansion earlier this year despite crisis conditions. While this has further strained the sector’s severely candidate short market, it has also created opportunities as more companies broaden their requirements to consider candidates from a variety of backgrounds.

Strategic candidates in high demand but short supply

These are some of the findings from The Inside Story of China, a monthly regional recruitment analysis undertaken by global recruitment expert Hays. Focusing on the Technology sector, the analysis found that while technology candidates continue to be in high demand, current market circumstances have made candidates more hesitant to job seek or change roles at this time. This trend has further aggravated the tight tech candidate market, despite growth in the sector.

A Golden Opportunity for Tech Candidates

However, these market conditions have also created a golden opportunity for suitable candidates who may find it easier to negotiate better positions and salaries amidst the talent shortage. Additionally, companies that have been able to show growth and continue hiring in this climate have already proven themselves to be future-proof, with potential to expand their teams and markets. Candidates in the market right now thus have the pick of the best performing companies in the sector. 

Skills in demand

While senior positions may not see a lot of movement at this time, mid-junior level tech roles are expected to see a significant increase. This includes developers across the board, software engineers, and roles working with AI and data. Post the crisis, most companies are going to rely on data to make decisions for their company and strategy, making it far more likely for them to hire or create data-related roles. Other tech areas such as AI are also seen as an investment for the future so hiring for these will continue. This is largely the trend across China.

Remote hiring brings soft skills into focus

Soft skills such as having an entrepreneurial mindset, taking ownership and being self-motivated have also become increasingly important in the current market. Communication skills are also increasingly important as more hiring is done via video during this period of social distancing in China. With video or digital interviews likely to be the norm for some time to come, recruiters have been spending more time coaching tech candidates to overcome challenges and be at their best on this new medium.

Simon Lance, Managing Director of Hays Greater China commented, “Despite challenging market conditions, the outlook for employment within China’s booming high-tech market remains both positive and consistent. Apart from being candidate short, the current market is largely comprised of impressive big players who have proven they can weather an economic downturn or are actively looking into generating new revenue streams. This is good news for candidates as not only can they leverage their scarcity for the best package, but the need for innovation at this time will also present enormous opportunities for their professional and creative development. For those in tech, now is a great time to turn uncertainty into opportunity.”

To read the full Inside Story of Technology in China, please click here

About Hays

Hays plc (the "Group") is a leading global professional recruiting group. The Group is the expert at recruiting qualified, professional and skilled people worldwide, being the market leader in the UK and Asia Pacific and one of the market leaders in Continental Europe and Latin America. The Group operates across the private and public sectors, dealing in permanent positions, contract roles and temporary assignments. As at 31 December 2019 the Group employed 11,600 staff operating from 266 offices in 33 countries across 20 specialisms. For the year ended 30 June 2019:

– the Group reported net fees of £1,129.7 billion and operating profit (pre-exceptional items) of £248.8 million;

– the Group placed around 81,000 candidates into permanent jobs and around 254,000 people into temporary assignments;

– 18% of Group net fees were generated in Australia & New Zealand, 27% in Germany, 23% in United Kingdom & Ireland and 32% in Rest of World (RoW);

– the temporary placement business represented 57% of net fees and the permanent placement business represented 43% of net fees;

– Hays operates in the following countries: Australia, Austria, Belgium, Brazil, Canada, China, Colombia, Chile, the Czech Republic, Denmark, France, Germany, Hungary, India, Ireland, Italy, Japan, Luxembourg, Malaysia, Mexico, the Netherlands, New Zealand, Poland, Portugal, Romania, Russia, Singapore, Spain, Sweden, Switzerland, UAE, the UK and the USA

From a growing demand for live streamers to a boom in online education, digital healthcare, e-commerce and cloud infrastructure – the digital technology sector in China saw significant expansion earlier this year despite crisis conditions. While this has further strained the sector’s severely candidate short market, it has also created opportunities as more companies broaden their requirements to consider candidates from a variety of backgrounds.