Hiring expectations down, optimism up

Hong Kong - Hiring expectations in Hong Kong have fallen the most in Asia this quarter from 42% to 32%, according to the Hudson Report, a quarterly survey on employer hiring expectations.

Mark Carriban (pictured), managing director Asia for Hudson, said hiring expectations were now at a five-year low.

"However, the proportion of employers who are looking to cut headcount is still low," he said.

In the media, PR and advertising sector, just 18% of respondents said they will hire more staff and 80% reported recruitment will remain steady. The report hinted that marketing budgets are often the first to be cut in a downturn.

However, the demand for professionals with digital and interactive media experience remains strong.

Despite the relatively low level of hiring expectations, the media, PR and advertising firms express a degree of confidence about the future with 65% expect their company's performance to be good. Many agencies expect their workload to grow as clients develop digital media communications strategies.

When it comes to the key cause of stress, 37% of respondents from the media, PR and advertising sectors mentioned an increase in work volume is seen as particularly severe.

Stress is often caused by staff having to meet tight deadlines for clients. Inadequate support is also another cause of work-related stress reported by respondents.