Hiring prospects set for rebound [China Daily: Hong Kong Edition]
(China Daily: Hong Kong Edition Via Acquire Media NewsEdge) More companies to boost headcount by end of year, says Hudson study
Employment prospects remain robust in China, with more companies expected to boost headcount during the second half of the year, thanks to the rapidly stabilizing economy and renewed business optimism, a leading global talent solutions company said on Wednesday.
Though Chinese employers added fewer employees during the first six months of the year than the same period of last year, their confidence in the country's economy still remains high, Hudson said in its Employment Trend Report. Hudson said that 53.2 percent of the 1,057 Chinese employers it polled for the report indicated that they would increase employee intake in the second half of this year.
The report said that three sectors - property and construction, banking and financial services, as well as information technology and telecommunications - will generate the much-needed momentum for hiring, fueled by the rapid development of the e-commerce industry in China.
Contrary to perceptions that the Chinese property industry is undergoing a downturn, about 84.8 percent of the respondents said they would hire more people in the second half of the year. E-retailers would be the main driving force for hiring as they would need to set up their own distribution centers to avoid logistical bottlenecks. Companies will need talent for operations like engineering, construction project management, quality surveys and contractor management, said Cherol Cheuk, joint general manager of Hudson Shanghai.
"Demand is also high for corporate real estate roles. As organizations seek to drive down costs, they will need talent with knowledge and strategic thinking to help them uncover opportunities to save money through smart leasing, renting and investment decisions," said Cheuk.
The rise of e-commerce and Internet shopping, robust economic growth and supportive government policies are also driving the rapid expansion of China's express industry, which grew by 61.6 percent year-on-year in 2013, according to a joint report by global consultancy firm Deloitte and the Development & Research Center of the State Post Bureau. Judging by the current momentum, the express sector is expected to become an industry of 280 billion yuan ($45.16 billion) by 2015, with an average annual compound growth rate of 39.4 percent.
Higher incomes have led to more frequent travel by Chinese consumers and triggered the need for more quality hotels. According to a study conducted by China's largest online travel agency Ctrip.com, 99 percent of the Chinese people said they made travel plans this year, while 51 percent said they plan to make at least three trips this year. Such an enthusiasm for travel has also led to greater demand for talent with the expertise to manage hotel properties.
In the banking and financial services sector, positive hiring intentions reached a three-year high with one-third of the surveyed employers indicating that they plan to add more employees this year.
"The rapid expansion of the domestic financial services industry, especially the boom in e-payment services in recent years, has added a lot of job opportunities. Internet related skills such as e-finance product development and Web-based business planning are driving an increased appetite for hiring, together with traditional growth areas like risk and compliance and relationship management," said Cheuk.
About 56.8 percent of the employers from the IT&T sector expressed willingness to hire more people in the next six months. The outlook for local Internet and e-commerce companies looks bright with IT engineers experienced in software development for smart devices in great demand, Cheuk said.
(China Daily 07/03/2014 page16)
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