According to the latest Hudson Report, subsequent to huge growth in Q1 hiring expectations in Q2 2011 in China and Hong Kong is at an all-time high while it remains level in Singapore. As a result, employers in all three markets are finding it harder to recruit top talent than this time last year.
Over 69 per cent of respondents in Hong Kong and China expect to increase hiring in Q2, up from 66 per cent in Q1. The steepest rise is reported by the consumer sector, with 63 per cent of respondents planning to expand headcount in Q2. The additional hiring activity is predominately for sales professionals in the FMCG, fashion retail and mass retail segments.
Level hiring activities in Singapore suggests that the market is stabilising at a high level. There is however still a strong demand in several areas, including the consumer, advertising and media sectors where the headcount growth has increased from 56 per cent in Q1 to 59 per cent in Q2. Several areas of this sector, notably PR, retail and beauty, are currently very active with some companies hiring for new roles as they implement expansion plans.
Recruiting top talent remains the biggest challenge in the markets. Over 73 per cent of respondents in China are experiencing difficulty followed by Singapore with 69 per cent and Hong Kong with 65 per cent. Media, advertising and PR firms are having the greatest difficulty with 88 per cent finding it harder than this time last year. Demand for candidates with experience in digital media and CRM is growing fast and a lack of available talent is creating problems for recruiters.
Concurrently, Campaignjobs.com has seen a record growth in the number of live vacancies, recording up to 300 at one point in April compared to last year’s April average of 160 live jobs.
The peak in recruitment activity in China and Hong Kong appeared inevitable considering the strong growth in consumer confidence. Now is a golden time to make a career move.