According to findings in the latest Michael Page Employment Index report, the outlook for Hong Kong’s employment market looks stable with 37% of surveyed companies planning to increase staff numbers in the first quarter of 2012 and a further 56% keeping headcount level.
Whilst employers are mindful of events in Europe and the US, there is a general confidence in the domestic market with 65% of companies expecting recruitment activity to be in revenue generating roles such as sales and account management. This figure represents an increase of 21% from the previous quarter and is a significant indicator of optimistic anticipation of future growth.
“Demand is expected to be seen within the commercial sector given the sense of nervousness that still exists within the banking and financial services markets,” said Anthony Thompson, Managing Director, Michael Page, Hong Kong and Southern China. Certainly some recruitment caution remains with 38% of surveyed employers planning to increase their contract and temporary headcount in Q1, balancing the need for additional resources and the fluctuating global economic environment with a flexible workforce. “Companies are indicating they are likely to take a conservative approach with their hiring intentions,” added Thompson.
Staff retention is also considered to be a continuing issue in Hong Kong into the new year based on the report findings, with 31% of surveyed employers expecting staff turnover to rise and 37% indicating that talent attraction and retention will be the key business challenge for their business—an increase from 20% last quarter.
Paul Arkwright
Publisher
