A rising demand for banking and e-commerce professionals from Chinese businesses will become a new driving force for recruitment in Hong Kong, fuelling competition for capable talent, according to recruiting experts Hays in Hong Kong.
This is one key finding from the latest Hays Quarterly Report, for the July to September quarter, which identifies the latest trends in the job market.
Dean Stallard, Regional Director for Hays in Hong Kong, says, “Hong Kong is the stepping stone for Chinese businesses to deepen their go-global strategy. In Hong Kong, candidates who can help Chinese companies accelerate the execution of their global expansion plans will be in high demand this quarter.”
There has been an urgent need from Chinese banks to secure risk specialists for their operations in Hong Kong, and the trend is set to continue. Compliance, risk, internal audit and anti-money laundering are also areas where Chinese banks are hungry for qualified candidates. Strong hiring in Chinese banks is contributing to a candidate shortage in the Hong Kong market for banking professionals who can deal with risk control and compliance.”
A one-year delay of the tax regime governing China’s cross-border e-commerce businesses is also creating acute demands for talent who have the experience of handing online shopping businesses and digital marketing, according to Dean.
“Cross-border e-commerce, bolstered by soaring demand from Chinese mainland shoppers, will see sizzling growth this year after the government’s decision to postpone the implementation of the tax system. In the long run, Hong Kong will continue to play an important role for Chinese e-commerce platforms to develop their cross-border businesses because of its advantages in logistics and its rule of law,” Dean added.
Candidates who have abundant knowledge of China’s e-commerce and rich social media experience will stand out as employers race to expand their businesses amid consumer fixation on buying foreign-made goods. Employees are expected to start work as soon as possible to drive businesses to a new high.
According to the Hays Quarterly Report for July to September, demand is highest for the following skilled professionals:
• Accountancy & Finance:
Compliance Managers – Chinese banks, particularly second-tier lenders, have the highest recruitment demand for skilled candidates in compliance, risk, and anti-money laundering segments.
Accountants – There has been an increase in demand for junior- to mid-level accountants to support month-end reporting and closing of books.
• Banking & Financial Services:
Risk Specialists – The need for risk specialists in Chinese banks is acute due to tighter regulations.
Relationship Managers – Banks are looking for relationship managers to sustain revenue growth.
PLC SCADA Engineers – Environmental projects such as organic waste-water treatment have a need for PLC SCADA engineers to complete the treatment process.
ELV Engineers – As more residential and commercial projects come close to completion, ELV installation works begin and there is an immediate need for ELV engineers.
• Life Sciences:
Regulatory Affairs professionals – Stricter healthcare policies in drug regulation drives demand for regulatory affairs professionals.
Product Specialists – Candidates with revenue generating skills are highly sought after as companies seek to further develop business.
• Information Technology:
IT Security Managers – Organisations need managers to ensure the system and flow of information is secure.
Network Engineers – Candidates who are able to manage a company’s connectivity are in high demand.
Pension Business Development Managers – Demand has been created by employers adding new headcount to ramp up sales.
Channel Development professionals – Companies are increasingly looking to generate new business from broker channels.
Category Managers – Employers in Hong Kong with indirect procurement teams will continue to demand category managers with strong management skills.
IT Procurement professionals – The rising number of IT-related products drives the demand of IT procurement professionals.
Engineers with qualifications in E&M – Data centres are in deep need of professionals with engineering knowledge.
Project Managers – People with project management experience at data centres will be valuable.
• Sales & Marketing:
Digital Marketing Managers – Those who can strategise but also know how to drive leads and conversions are in high demand.
E-Commerce professionals – Booming Chinese e-commerce platforms are creating stable demand for candidates with experience of handling online shopping.
• Supply Chain:
E-commerce-related Logistics Managers – Increasing online sales will boost demand for logistics managers with e-commerce experience.
Regional In-house Logistics Specialists – The reduction of reliance on third-party logistics leads demand for regional in-house logistics specialists.
To read the full Hays Quarterly Report, including candidate and employer trends and forecasts, please visit http://www.hays.com.hk/report
Hays, the world’s leading recruiting experts in qualified, professional and skilled people.
Hays is located in Hong Kong at 6604-06, 66/F, ICC, 1 Austin Road West, West Kowloon, Hong Kong. Phone +852 2521 8884 or email firstname.lastname@example.org.
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For further information please contact Esabella Yeung, Marketing Executive SEA, Asia at Hays, on +65 6424 0158 or Esabella.Yeung@hays.com.sg