Skilled professionals in Accountancy & Finance will be sought after.
Hong Kong’s economy is entering more positive territory with several sectors set to increase hiring over the April to June sector increasing competition for the best talent.
This is one of the key findings from the April to June Hays Quarterly Report, which identifies trends in recruitment.
“For employers, knowing the right method to attract the best candidate is a must this coming quarter as competition for talent heats up,” says Dean Stallard, Regional Director for Hays in Hong Kong.
“The Insurance sector is growing particularly strongly and also diversifying product ranges to meet the demands of consumers and also regulatory change and this is creating fierce competition for talent,” Dean says.
“Insurance employers may have to use buy out options to lure candidates away from competitors.”
“In the Accountancy & Finance space, competition for the right talent is very strong, particularly for those with niche skills. Employers may need to consider hiring expatriate talent or attracting back local talent from overseas,” he says.
“Another example can be found in Procurement where top strategic sourcing talent tell us they are looking for better salaries and work life balance.”
“Other areas experiencing a more positive hiring outlook this quarter include Retail and Legal while Life Sciences, areas of Procurement and Supply Chain also look set for more buoyant recruitment levels this quarter,” says Dean.
According to the Hays Quarterly Report for April to June, demand is highest for the following skilled professionals:
Hays Accountancy & Finance:
• P&A and Management Reporting – Hiring demand is being driven by rapid growth of insurance industry including more new products
• Financial reporting – Insurance and banking want candidates with project management skills for IFRS9 and IFRS compliance work
• Junior accountants – The commercial sector and banking is tipped to see hiring levels of hiring for junior accountants on a contract basis
Hays Banking & Financial Services:
• Compliance and Anti Money Laundering – These remain top priority areas with more roles being created across all areas of banking
• Customer experience specialists – Greater compliance means more processes for customers and more customer complaints and questions
• Relationship managers – We are seeing more roles for these revenue generators in both commercial and corporate banking
Hays Construction & Property:
• E&M design engineers – Strong demand is coming from engineering consultancies buoyed by a strong forward plan of government projects
• Extra low voltage engineers – High demand is expected for low voltage engineers to work on security projects for commercial buildings
• Mechanical and electrical engineers – Are needed to work on water treatment projects across Hong Kong to clear delays
Hays Finance Technology:
• Java/Core Java Developers – This software language remains the most commonly used keeping candidates at all levels in high demand
• Technical BAs/Project Managers – Candidates in demand must have both solid technical credentials and excellent communication skills
• Ethical Hackers – This role is essential to any crack IT security team particularly in the finance and banking sectors
Hays Information Technology:
• IT Security Managers – Security continues to be a key area of focus for organisations across a range of sectors
• Penetration testers – Talent is needed to help companies identify threats and vulnerabilities in their systems and develop solutions
• Business development – Demand for talent with IFA/Broker channel experience are in highest demand to capture greater market share
• Pension specialists – Pension fund providers are investing significantly in talent adept at using a range of channels to secure new business
• Regulatory investigations specialists – Demand for counsel is being generated by increasing government regulatory focus on banking
• M&A lawyers – APAC M&A activity remains strong across medical, Life Sciences, technology and property
• Trilingual mid-level lawyers – APAC operations with China ties have strong demand for lawyers who are Cantonese, Mandarin, English speakers
Hays Life Sciences:
• Junior product and sales – A shortage of graduates over the last three years is creating significant demand for junior talent in revenue driving roles
• Regulatory Affairs – We are seeing strong demand for candidates for roles in both pharmaceuticals and also medical devices
• Sourcing managers – Candidates with strong networks that include SE Asian and APAC suppliers are in highest demand
• Category managers – Must have skills include a deep category knowledge and ability to leverage regional and global relationships
• Strategic sourcing – Strong hiring expected from multinationals but we expect top candidates to want better salaries and work-life balance
Hays Sales & Marketing:
• Retail – Retailers are forecasting a turnaround in sales activity this quarter driving up the need for quality retail sales candidates
• Media relations – Candidates with strong media networks and the skill to finesse positive coverage to build brands are in hot demand
• Digital experts – Digital marketers and data analytics expertise to drive consumer spending is driving hiring
Hays Supply Chain:
• Demand/Supply Planners – Candidates able to produce accurate sales and supply forecasts to better manage inventory and production
• Supply chain optimisation – Candidates with optimisation/re-engineering skills are needed to help make process improvements
• Vendor management/Production planning – Hiring strongest amongst organisations with production facilities across Asia
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