Employers are increasingly turning to temporary workers in response to tight permanent headcount budgets and a desire for workforce flexibility, according to the latest Hays Quarterly Report.
The Report, released this week and covering the October to December 2012 quarter, found employers are now harnessing the power of temporary contract workers.
“Employers are increasingly looking at hiring contract or temporary workers in response to both tight permanent headcount budgets and an understanding of the benefits of a flexible workforce,” says Marc Burrage, Regional Director of Hays in Hong Kong.
“But while employers are eager to see new talent and will increasingly turn to temporary assignments to ensure workloads are completed, recruiting processes are lengthy. We therefore advise employers to speed up recruitment processes in order to secure the top talent.
“Candidates should also be prepared to remain in a contract role until next year’s budget is approved.”
The Report also found the challenge for employers this quarter is attracting candidates.
“A lot of candidates are interested in new opportunities, although in many cases they will need to forfeit their bonus if they are to change jobs this quarter. This creates an obvious attraction challenge for employers,” says Marc.
“Candidates in demand are becoming more selective and employers may even have to increase salaries in response to the candidate-driven market.”
According to the Hays Quarterly Report for October to December 2012, demand is highest for the following skilled professionals:
· Hays Accountancy & Finance:
Financial Controllers, treasury reporting candidates, Product Controllers, Valuation Controllers and business finance candidates;
· Hays Architecture:
Senior Architects, Design Managers, Senior Interior Designers, Design Directors and Project Managers;
· Hays Banking:
Corporate Banking Relationship Managers, Corporate Finance Responsibility Officers, Wealth Management Relationship Managers, Asset Managers and candidates in asset management and client relations;
· Hays Construction:
Planning Engineers, Tunnelling Engineers, Grouting Engineers, Blasting Engineers and BIM Modellers;
· Hays Finance Technology:
C# Front End Developers (WPF), JAVA Developers and Unix, Systems and Network Engineers;
· Hays Human Resources:
Talent Acquisition professionals, HR Generalists, HR Managers, HR Analysts, and Learning and Development professionals;
· Hays Information Technology:
Helpdesk and Desktop Support candidates, Systems and Senior Systems Engineers, Voice Engineers for CISCO VOIP, SAP Expert Consultants, Technical Services Managers, PMO candidates, Project Managers and Business Analysts;
· Hays Insurance:
Marine Cargo Underwriters, Bancassurance Development candidates, Agency Distribution Development workers, Project Managers and compliance candidates;
· Hays Legal:
Funds Lawyers, Legal Counsels, Company Secretaries, Senior Counsels, Corporate Finance Lawyers, Company Secretaries, Banking Lawyers and Professional Support Lawyers;
· Hays Office Professionals:
Legal Secretaries, Team IBD Assistants, Executive Assistants, Receptionists and Team Administration Officers;
· Hays Property:
Property Managers, Facilities Managers, Quantity Surveyors, Business Development candidates and Leasing Managers;
· Hays Sales & Marketing
Store Managers, Marketing Executives and Managers, Digital Social Media Managers, Sales and Business Development Managers and Communications Managers.
View the Hays Quarterly Report at www.hays.com.hk/report
Hays, the world’s leading recruiting experts in qualified, professional and skilled people.