Hiring intentions remain steady in HK for 3Q17

Hiring intentions remain steady in HK for 3Q17Hong Kong employers project steady hiring intentions with the most active hiring environments anticipated in the services sector, according the latest quarterly ManpowerGroup Employment Outlook Survey (MEOS).

After removing seasonal variations, the Net Employment Outlook for the third quarter stands at +15%. Hiring prospects remain relatively stable when compared with the previous quarter and are 3 percentage points stronger year-over-year.

Of the 744 employers surveyed, 19% expect to increase staffing levels over the next three months, 4% forecast a decrease in staffing levels and 76% anticipate no change.

Staffing levels are forecast to increase in all six industry sectors during 3Q 2017. The strongest Net Employment Outlook of +22% is reported in the Services sector, while Finance, Insurance & Real Estate sector employers anticipate an upbeat hiring pace, reporting an Outlook of +18%.

When compared with the previous quarter, hiring plans are 2 percentage points stronger in the Finance, Insurance & Real Estate sector, while employers in both the Manufacturing sector and the Services sector report relatively stable hiring intentions. Elsewhere, Outlooks are unchanged.

The healthy hiring pace in Services sector is likely to continue in 3Q 2017, according to employers who report a Net Employment Outlook of +22%. Hiring intentions remain relatively stable when compared with 2Q 2017 and improve by 3 percentage points when compared with this time one year ago.

“Hiring sentiment remains upbeat in services sector. Year-on-year improvement on the number of arrival tourists and new established hotels stimulates the hiring activities to support the demand,” ManpowerGroup Greater China SVP Lancy Chui said.

“Meanwhile, technology transformation is still a key priority for both private and public sector companies, driving a focus on sourcing the right IT talent in what remains a skills-short market. The majority of businesses are extremely concerned about whether their workforce has the skills required to keep competitive in the market. Financial institutions have been recruiting in areas such as technology, especially artificial intelligence,” she added.

“Aside from technology, employers are also seeking professional services talent for auditing, risk and compliance to meet regulatory requirements and to minimize risks, especially in a sluggish business environment.”

First published in SMBWorldAsia