The number of temporary and contract jobs is increasing in Hong Kong’s banking, accountancy and finance market, up as much as 41 per cent according to recruiting experts Hays.
This increase, says Hays, results from employers looking for headcount flexibility and using temporary assignments as an ongoing resource rather than solely short-term cover.
Candidates meanwhile have been attracted to the pay rates these contracts offer, as well as the opportunity to broaden their skills and experience in a range of industries and sectors.
“The world of work is changing, and employers want to flex their workforce in order to adapt,” says Marc Burrage, Regional Director of Hays in Hong Kong.
“Workloads still need to be completed, but headcount flexibility is required. That’s why temporary assignments are no longer the sole domain of office support staff. Today temporary workers can be found across a range of specialist areas, from banking and finance to property.
“Candidates too have shifted their perspective and overcome their reluctance towards temporary assignments. The pay rates on offer, as well as the opportunities to expand their network and broaden their experience have attracted the interest of candidates at all levels.
“As a result, employers are able to fill temporary roles with candidates who possess the skills and qualifications to fulfil diverse business needs. Given the broad range of industry experience available, even a unique requirement can be filled with a specialised candidate who will hit the ground running within a team.
“This allows employers to not only overcome workload peaks until budgets are reassessed, but to maintain a degree of headcount flexibility for the future.”
According to Marc, it’s a trend that is only likely to increase even more moving forward. “Employers in Hong Kong are now very confident in the skills available to them at short notice and they have started to factor temporary staff and contractors into their workforce planning,” he says.
“We’re especially seeing this when employers are planning projects, looking ahead at peak demands or annual leave cover, or are planning to update systems.
“Flexibility is the key, with temporary assignments ranging from just a few weeks up to many months and even years,” he said.
Hays, the world’s leading recruiting experts in qualified, professional and skilled people.