As the economy is improving, more corporations are increasing headcount, and the career market is shifting to candidate-driven.
According to the 2010 Mid Year Job Market Trends and Salaries Report released by recruitment consultant Ambition, 67.7% of the respondents were actively hiring in Q2 2010 and 11.4% plan to hire in Q3.
It is reported that the toughest challenges organizations are facing now when hiring are “lack of qualified candidates (57.2%), salary inflation (42.8%) and increased turnover (40.6%).
Guy Day, Managing Director – Asia & UK, Ambition, commented, “As the job market has stabilized, most sectors are experiencing growth and are offering plenty of opportunities for job seekers. Candidate availability remains satisfactory in most of the areas, however, top quality candidates are becoming increasingly difficult to find and staff retention strategies will be of paramount importance for all employers in 2010.”
Day added that job seekers are looking for new jobs now and high-calibre ones have been able to secure multiple job offers. As companies compete for the best talent, it has an effect on salary inflation. He advised employers to act fast so as not to risk losing preferred candidates to a competitor.
The survey was conducted in April and May 2010 covering 456 Hong Kong-based hiring managers and human resources professionals of 12 industry sectors.
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