Hays Insurance
January - March 2012
HONG KONG Hotspots
We are seeing high demand from insurers following recovery from the global financial crisis. With some significant changes and buyouts taking place, we expect to see new opportunities created and market movement. Asset Management Specialists, Regional Compliance Managers and Audit Managers are wanted to fill a number of available openings this quarter.
Overcoming skills shortages
Employers are trying to look at a number of different strategies to address the skills shortage being felt in the insurance market. They are using our global network to source overseas candidates and many are negotiable on language skills. They are also willing to consider candidates who come from a non-insurance background but can be trained into the role.
The coming quarter
Departments that involve long term strategic planning will be the main focus for the year. We see a significant growth in areas such as M&A, strategic planning, project and channel distribution. In addition, underwriting and actuarial roles will always been in demand.
Executive recruitment
Executive vacancy activity is taking place. Although a number of insurers are keen to develop staff internally, we are currently seeing a high demand for Business Development and Distribution candidates at the executive level.
Employer trends
Employers are aware of the deep candidate shortage in the market and are becoming more flexible in their requirements. Employers are providing comprehensive training programs, more attractive bonus structures and subsidies towards professional examinations to secure good candidates. However, they are still taking their time when it comes to finalising offers and are being very cautious with salary packages.
Candidate trends
The bonus period for insurance companies is typically at the end of this quarter, which means that the majority of candidates are usually inactive with their job search during the first quarter of each year. A high turnover is always expected after the bonus is paid.
