Recruitment looks set to rise in Hong Kong

PEOPLE   HUMAN RESOURCES    HUDSON

Hong Kong – The advertising and media markets of Hong Kong have shown strong signs that they expect to increase headcount, following extensive retrenchments in early 2009.

The latest Hudson report, 28% of media, advertising and PR firms said they will boost headcount in the third quarter of this year, up from 10% in Q2.

According to the report of 2,000 employment decision makers, Beijing and Shanghai again have the highest expectations (27%)  for recruitment in Q3.

But this is a 3% decline compared with the last quarter. Among them, the manufacturing & industrial sector reports the highest expectations, with 13% increase in job vacancies compared with the last quarter.

Generally Hong Kong is expecting an 8% increase in hiring this quarter, with the financial sector recording the highest sentiment. Almost a quarter of respondents   anticipate a hiring boom soon.

“Overall, respondents are more optimistic about hiring expectations than in recent quarters. Many employers are focusing on staff motivation and retention as they prepare for economic recovery,” Mike Game, CEO, Asia, Hudson said.

Respondents in Hong Kong are also the most optimistic about the prospect of economic recovery, with almost 60% of them said they expect a recovery by mid-2010.

However, salaries are likely to be reduced in the coming quarter, amid with a growth in hiring rate. In Hong Kong, nearly half of the respondents  said the media/PR/ advertising sector can attract new managerial candidates while offering lower starting salaries. In general, 23% of the Hong Kong respondents said there are paying 10% less to the new  managerial hires.

The report also shows employers now consider employee motivation & retention as the priority, career development as second.

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