Hays Accountancy & Finance
January - March 2012
HONG KONG Hotspots
Compliance and control continues to be an area of demand following increased regulations and internal governance. As a result finance professionals with experience in audit and risk assessment, internal control and compliance are sought.
Also needed are experienced financial planning and analysis candidates, including Financial Controllers, Finance Directors and CFOs to provide support on management decision making, including strategic consultation on financial impact and strategy development. This demand in particular is coming from the retail sector as a number of companies continue on with their plans to open new retail outlets, resulting in the need for more analysis to support the growth and financial viability.
As the tax filing season arrives, there is an increased need for Accountants, Tax Managers and Senior Tax Consultants to assist with tax compliance, tax returns and filings.
Overcoming skills shortages
We are advising employers to focus on core skill sets and consider applicants who may come with a non-relevant industry background but can be trained up. Flexibility on remuneration is also key to attracting and retaining the right calibre candidates.
The coming quarter
Recruitment activity continues to remain strong in the commerce and industry sector with candidates being sought across all levels from junior Accountants to Finance Directors and CFOs. Employers remain optimistic about new business and market growth plans. Both contract and permanent positions will be in demand.
Executive recruitment
We have noted an increase in demand for executive level candidates, particularly in relation to CFOs with international experience gained in a multinational corporation. Employers are seeking candidates with a strategic mindset and business partnering experience, in addition to strong communication skills.
Employer trends
Employers are willing to raise salaries to attract the right calibre candidates; however their recruiting timeframes tend to be longer. Lengthy recruitment processes may reduce potential candidates' interest. They are hiring people who demonstrate a good cultural fit and closely meet the job requirements as retaining top talent is seen as the most critical challenge.
Candidate trends
This quarter is usually a popular time for candidates to make a move after collecting their Chinese New Year bonus. Candidates are optimistic given the improved economy and most have higher expectations in terms of salary increments and career advancement.
