Almost 9 in 10 Hong Kong firms eye boosting headcount this year

Thanks to rising revenue and profits.

According to Regus, while the headline Index shows only a slight improvement in local business sentiment at present, Hong Kong companies clearly see opportunities on the horizon. 

The index also reveals that 86 per cent of businesses in Hong Kong are planning to increase or maintain headcount in 2013, compared to just 13.7 per cent who anticipate headcount reductions.

The survey, in which over 26,000 businesspeople in 90 countries worldwide participated, revealed a particular emphasis on recruiting more sales and marketing staff in Hong Kong.

Hong Kong's small increase in positive business sentiment (from 118 index points last year to 121 now) mirrors the global average increase from 111 index points to 114.

47 per cent of local businesses report rising revenues and 36 per cent said profits had also increased over the past twelve months. Of the 86 per cent of firms who expect to recruit additional employees, 28 per cent plan to increase headcount by 5 per cent or more.

In terms of who will be hired, 59 per cent believe additional sales and marketing staff will be taken on, and 39 per cent intend to increase their operational staff.

"The fact that a large majority of Hong Kong companies in our survey foresee an increase in headcount is a clear sign that local companies are feeling relatively confident about the future," said Hans Leijten, vice president, East Asia, Regus. "The fact that nearly 60 per cent say that those additional staff will be sales and marketing personnel further underlines this – clearly Hong Kong companies think that the market is there for their goods and services, and aim to get out there and start selling."

"Judging by these figures, HR departments are likely to face stiff competition for sales and marketing staff, and businesses need to consider how they can be competitive in the labour market and recruit and retain the best people. A growing body of recent research suggests that cash is no longer king, and a good work/life balance, achieved through more flexible working conditions is also a key concern for local job-seekers. Companies that offer this may tip the scales in their favour."