Candidates will be on the move this quarter after collecting their Chinese New Year bonus with higher expectations in terms of salary increments and career advancement, says recruitment consultant Hays.
The latest Hays Quarterly Report reveals that while some candidates were concerned about moving jobs in uncertain times, most were optimistic given the improved economy and were looking to secure a position before the applicant pool begins to heat up.
“We have seen a good flow of candidates coming onto the market and looking to leave their current position now that bonuses are being paid out,” says Emma Charnock, Regional Director of Hays in Hong Kong. “Interestingly, we are also noticing more expatriate candidates looking to move to Hong Kong for new career challenges and lifestyles.
“But some employers aren’t waiting around. Instead, those keen to snap up talent much faster are offering sign-on bonuses in order to secure candidates and compensate for their annual bonus.
“Flexibility is also key this quarter as employers look at ways they can fill openings which have remained opened for some time. This is particularly evident in the legal, insurance and office support sectors.”
Charnock said they have seen a greater focus on temporary or contract hires to fill the gaps or adapting requirements to match the skills available in the market. In office support for example, they advise clients to consider candidates who come with a different set of skills such as Personal Assistants or Executive Assistants and then train them up while lowering the salary band accordingly.
In turn, candidates are welcoming this move as it allows them a career opportunity and change which would not normally be open to them. It creates a win-win situation for both the candidate and employer.
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