Demand for accountancy and finance professionals is unmatched by supply, so employers are turning to alternative sources of talent rather than simply relying on the local candidate pool. As a result, returning nationals are becoming key for successful recruitment. Emma Charnock, Regional Director of Hays Accountancy & Finance in Hong Kong, explores.

The current recruitment market is very active, driven by steady demand for permanent candidates augmented by an unusual increase in the demand for contract candidates as accounting firms and businesses seek to manage workload peaks.

With such high demand for staff unmet by a solid supply of qualified and experienced Hong Kong and PRC accountants who can demonstrate commitment, loyalty and strong achievements in previous roles, employers are turning to skills outside the local market.

Hong Kong returnees are the ideal solution. They have an understanding of the local market and international experience. The Big 4 in particular are active recruiters of expatriates and returning nationals and those looking to return to Hong Kong with four or more years of experience in a Big 4 firm are in particular demand. Meanwhile the commerce & industry market is looking at expatriates and international talent for executive vacancies.

While Australian, Canadian and UK candidates are sought, some candidates are being actively recruited from emerging markets such as South Africa and India.

Despite this demand, Hong Kong and Chinese nationals returning to Hong Kong, particularly those from the UK and USA, need to bring with them realistic salary expectations. They should also bear in mind that hours of work tend to be longer in Hong Kong. However on the flip side, personal tax rates are much lower, which is a definite advantage for candidates.

It is also advisable that candidates returning to the Hong Kong market are realistic about their experience. Relocating overseas can be hard enough, however attempting to change career paths or applying for vacancies for which you have no relevant experience will not result in an employment offer. Apply for vacancies within your range of experience and strengths. Candidates are also advised to select a recruitment agency with a strong reputation in the local market and that specialises in your field of expertise.

You should prepare for a telephone interview, remembering that you are competing with candidates in the local market that will be having face-to-face interviews. Hence you need to ensure you communicate the strengths you would bring to the role. Be specific and give examples. Research the company in advance and have questions prepared to ask. If successful, you may need to accept a job offer without meeting the people you will be working for and with, so make sure the firm has a working culture that will suit you.

Candidates should also be realistic in their timeframes; you do not need to start applying for vacancies six months before your intended move to Hong Kong. Instead, two months before your move is a realistic time to commence your job search.

Source: Hays Hong Kong