Buoyant Business Confidence Lifts Hong Kong Jobs Market

Buoyant business confidence across Asia’s markets, lifted by the increasing number of multinationals entering the region, was reflected in the number of jobs available in the fourth quarter of last year, reports Robert Walters.

The quarterly Asia Job Index published by the international recruitment consultancy reveals that the total number of job advertisements for professional positions in Asia grew by 18% from Q4 2013 to Q4 2014.

“Overall business confidence in Hong Kong remained stable throughout 2014 and companies were more confident in hiring compared to a year ago,” said Matthew Bennett, managing director – Greater China. “This is reflected by the 15% year-on-year (YoY) increase in job advertisement volumes in the last quarter, despite a slowdown in hiring activity due to the holiday season and the impact of the local political situation.

“Much of the growth can be attributed to the rise in replacement openings, as employers seek to upskill their teams by hiring professionals with stronger skill sets to replace underperformers. We expect the recruitment market will become more competitive in 2015, especially for trilingual candidates with regional experience.”

In its commentary on Hong Kong, the firm noted the following points:

• Customer service and account servicing vacancies rose 38% as companies sought to differentiate themselves by adding value to customers and building long-term relationships.
• Job advertising for human resources (HR) professionals grew 27% over the same period last year, as staff retention continued to be a priority. HR specialists in compensation and benefits as well as talent management were in particular demand.
• Job advertising in sales and business development grew 20% year-on-year YoY as companies sought to increase revenue by expanding and upskilling their sales teams.
• IT professionals remained in demand as a result of continued developments in big data technology and digital marketing, with job advertising volumes up 24%.

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