Off shoring is affecting jobs in most industries, even accounting, but the key to advancing your accountancy career in Hong Kong remains experience, says recruiting experts Hays.
“Companies will off shore their accounting support functions to low cost centres, but they can’t off shore critical accounting functions that require on-the-ground local experience and insights,” says Marc Burrage, Regional Director of Hays in Hong Kong.
“Where employers are recruiting, and where demand remains highest, is for experienced Financial Planning and Analysis (FP&A) professionals. Vacancies for these professionals exist in organisations that are regionally headquartered in Hong Kong, and are greatest within the retail, FMCG and technology sectors.
“Technology companies are developing diverse product lines, for example in the tablet and mobile devices sector. They are also growing operations in emerging markets. As a result, they are recruiting accounting and regional FP&A professionals to build their analytical capability within their regional headquarters.
“Retail and FMCG employers are also looking for experienced FP&A professionals to deliver more competitive ways to operate. It is becoming increasingly necessary for these professionals to be able to adapt to fast changing environments and possess strong analytical, interpersonal and communication skills.
“Another area of demand is for US tax specialists, since US headquartered companies need candidates with US GAAP experience as well as international working experience,” said Marc.
According to Hays, financial services organisations are also competing for the top experienced talent, particularly for contract roles, by making their salary and benefits packages more attractive. “Employers are offering longer annual leave, higher salaries and overtime allowances to attract candidates,” says Marc.
“They are seeking out strong Internal Auditors at all levels, Regulatory Reporting Analysts, Senior Analysts and Managers and Trade Support Officers. Professionals with Mandarin language skills are also in increased demand in Hong Kong as a result of rapid investment activities within China,” he said.
Hays, the world’s leading recruiting experts in qualified, professional and skilled people.