One year after the financial tsunami, employers have higher hiring expectations and are willing to employ people who are out of work for more than a year or longer.
According to the survey report released by recruitment consultant Hudson, 35% of the 500 surveyed decision makers in Hong Kong expect to increase hiring in their companies in Q4 2009 compared with 22% in the previous quarter.
In addition, the percentage of respondents cutting headcount has diminished significantly from 12% in Q3 2009 to 3% this quarter. Overall, hiring expectations have increased in all sectors, with media / PR / advertising recording the greatest increase, from 18% in Q3 to 69% this quarter.
Banking and finance has recorded the second largest increase in hiring expectations, with 43% in Q4. Mark Carriban commented there is a demand for frontline banking and finance sales as well. In IT, the hiring expectation in Q4 is recorded at 38%. Carriban said, "Organizations look for technical IT staff with business knowledge, especially those with search engine optimization and online marketing skills."
Many people lost their jobs because of the financial tsunami last year. One-third (30%) of the respondents said that they would employ someone who has been out of work for one year or more. Only 20% said they would not, and 47% gave a "maybe" response. Among all sectors, manufacturing and industrial is the most open to hiring such candidates, with 49% giving a positive response.
The major reason for employers to hire those long-term unemployed is the candidate's previous experience and track record, with 38% of respondents citing this factor. This reason is followed by specialist / niche skills (30%), and stopping work to obtain a higher qualification (15%).