- Finance candidates less willing to wait and see if they got the job compared to 12 months ago
- CFOs cited power balance shift towards candidates as reason for change
- 41% of Hong Kong jobseekers decide after first interview whether they want to work for the company
Finance jobseekers in Hong Kong are becoming increasingly impatient during the recruitment process. According to new independent research commissioned by Robert Half, 83% of Hong Kong CFOs say candidates have become more unwilling to wait to find out if they got the job compared to 12 months ago. And even after accepting a position, 91% are willing to quit within the first month if the job doesn’t match their expectations.
Changing attitudes
Hong Kong has long battled a skills shortage, particularly within the financial sector—which is putting top candidates in a favourable position. When asked why finance candidates have become less willing to wait, almost half (49%) of CFOs cited a change of attitude in job applicants, indicative of the power balance shift towards candidates in a skills-short market.
Other reasons why finance candidates have become more impatient during the hiring process include:
- an increase in counteroffers (43%);
- an increase in jobs available for finance candidates (36%);
- an increase in the number of interview rounds (22%); and
- an increase in the total duration of the hiring process (10%).
The above indicates that Hong Kong employers should streamline their hiring processes and make decisions quickly once they have found a suitable candidate.
First impressions count
A further study of 500 jobseekers across Hong Kong revealed that a little over four in 10 decide whether they would accept a position straight after the first meeting. A further one-fifth know if they are interested after the first communication or within the first five minutes of the interview. Just one in 10 (11%) wait until the contractual negotiations or until they have completed subsequent interviews to decide.
Adam Johnston, Managing Director, Robert Half added, “While candidates need to put their best foot forward, so do hiring managers. Recruitment starts with providing candidates an efficient and timely recruitment experience and extends throughout the onboarding process to ensure new hires are motivated, engaged and quickly contributing to the business.”
Paul Arkwright
Publisher
