Job seekers are now more cautious to change jobs in this global economic downturn.
According to the Asia Job Index Q4 2008 published by recruitment consultant Robert Walters, the number of jobs in Hong Kong in Q4 2008 has dropped by 25.2% compared with Q3. Apart from this, Matthew Bennett, Director of Robert Walters Hong Kong, says that job seekers do not change jobs easily now, hence contributing to a stagnant recruitment market.
Job seekers opt to stay in their jobs because they are afraid that they may become ¡§last in, first out¡¨ if companies are going to lay off staff, Bennett says.
As headcount is tight, companies has become more selective in the recruitment process. Bennett says that firms may hire only one employee with more experience to take up the work of two staff. Some companies make use of this opportunity to get rid of under-performers.
On the other hand, market demand for talent is still high in certain job sectors, such as retail sales, healthcare & beauty, and accounting. It is advised that employers move quickly to secure their preferred candidate.
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