Hong Kong CFOs and CIOs positive on hiring in first half of 2014

10 February 2014

Hong Kong, 11 February 2014 – Amid strong business and economic confidence, nearly half of Hong Kong firms plan to increase talent in banking and accounting in the first half of 2014. In addition, more than a quarter of IT firms expect to add new positions. This is according to research published today by Robert Half, the finance, accounting, and IT specialist recruitment firm, in its latest Financial Employment Report.

 

HIRING PROJECTIONS IN HONG KONG FIRST HALF OF 2014

 

BANKING & FINANCIAL SERVICES

COMMERCE & INDUSTRY

IT

EXPANDING

46%

48%

26%

MAINTAINING

47%

43%

61%

FREEZING

5%

9%

13%

REDUCING

1%

0%

1%

Source: 150 senior Financial Services leaders, 150 CFOs and Finance Directors, and 104 CIOs/CTOs in Hong Kong

The Robert Half Employment Report for the First Half of 2014, which surveyed over 400 financial services leaders, CFOs and finance directors, and CIOs/CTOs, found that the top three reasons for increasing talent are: 1) new projects and initiatives, 2) business growth, and 3) new market penetration.

“Employee expansion is high on the priority lists for many business leaders in Hong Kong this year. Our study reveals that both firms across banking & financial services, commerce & industry, and IT are optimistic and confident in their business growth,” said Pallavi Anand, Director, Robert Half Hong Kong. “As a result, we see opportunities for strong candidates in finance and IT.”

According to the survey, 68% of respondents within banking & financial services consider accounting and finance professionals the most sought after talent.

In commerce and industry, business/financial analysis professionals are in high demand, as indicated by 31% of the respondents.

In IT, 46% of CTOs and CIOs find that security is the most sought after skill, followed by software development (31%).

As companies continue to recruit, the talent pool remains highly competitive. Approximately 9 out of 10 respondents are both concerned about losing top talent in the next six months and are challenged to find skilled talent in their respective industries.

“Hiring strong candidates while retaining top talent are top of mind for employers in the next half of the year. As global economic conditions improve, competition for top talent will increase,” Ms. Anand said.

Ms. Anand added, “To tap into an increasingly competitive market while also retaining strong talent, firms must demonstrate a commitment to work-life balance, develop innovative training programmes to build a candidate’s skill sets, and create programmes to ensure career mobility in the firm.”

To view the Robert Half Employment Report, click here

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