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INTERNATIONAL CANDIDATES LOOK TO ASIA
International candidates are looking towards Asia for better job stability and growth, according to trends revealed in the latest Hays Quarterly Report.
“There has been a noticeable increase in the number of international candidates interested in local roles,” says Emma Charnock, Regional Director of Hays in Hong Kong. “Permanent job opportunities will be high due to continual expansion and the requirement for professional services across China.
“While banking sector employers are monitoring the sub prime effects, and this is creating some cautiousness in this recruitment sector, for all other commercial employers the recruitment market remains buoyant,” she said.
In other trends, the Hays Quarterly Report reveals the hotspot areas where demand for skills is strongest. These include:
- Hays Accountancy & Finance – commerce & industry: “Within the financial services sector, financial reporting and investment accounting candidates are in demand, while non-financial services areas require SOX and systems accountants,” says Emma. “Within the insurance market there has been a focus on how life products are invested, while the changes being made to global reporting standards require more financial reporting, SOX and systems accountants, although there is an ongoing shortage of experienced candidates. The focus on auditors has shifted back to reporting due to new requirements globally.”
- Hays Accountancy & Finance – the profession: “Tax candidates at the senior through to senior manager level and particularly within transfer pricing, corporate tax and Hong Kong profits tax, are in demand as Big 4 firms expand their teams. Audit (financial services) at the senior and manager levels, internal audit and risk also remain areas of demand within the Hong Kong and China markets due to consistent growth within the Big 4 and second tier in addition to expansions into China.”
- Hays Finance Technology: “Within the finance technology market, front office developers with VBA, C++, CSharp and Java are required in Hong Kong. Candidates with trading systems such as Sophis, Calypso, Murex and summit are also in demand. Meanwhile, development project managers, business analysts and mid level managers with five or more years investment banking experience are required.”
- Hays Information Technology: “Mid to senior level business analysts, project managers and sales candidates are required for Hong Kong’s IT market as companies improve efficiencies and Asia remains a hot new growth area for companies looking to expand their operations.”
- Hays Legal: “Mid to senior level lawyers across the range of practice areas are in demand. In the current market law firms are focusing on technically strong lawyers with international law firm training and experience. The key practice areas remain banking, finance and corporate. There has also been a recent increase in litigation vacancies at the mid-level for technically strong lawyers. This is in response to litigation and arbitration practices receiving more instructions. Finally within corporate, M&A, private equity, banking and finance and US Securities requirements are heating demand for mid to senior level lawyers with three or more years PQE,” said Emma.
Further details of these hotspots, in addition to recruitment activity, executive activity, candidate trends and salary movements by sector, are contained in the Hays Quarterly Report, available at www.hays.com.hk/forecast
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