Links International’s Mid-Year Job Market Analysis
Halfway through 2020 and the Hong Kong job market has experienced its list of difficulties. However, the improving Covid-19 situation has led to some positive news for the city and improved the outlook for the rest of the year. To assist businesses in finding the most suitable talent, Links will share our latest analysis of HK’s job functions and examine its future trajectory.
|Mid-Year Job Market Report 2020:|
|▼ Information Technology (IT)|
|▼ Administration & Human Resources|
|▼ Banking, Finance & Accounting|
|▼ Sales & Marketing|
|▼ Sourcing, Supply Chain & Manufacturing|
Demand for Senior HR Professionals Rebounds in June
The Admin and Human Resources function has seen the number of jobs postings fall for 2020. Opportunities for professionals in this area has been one of the most adversely affected, due to many companies implementing headcount freeze.
Mid-tier roles like HR officers are seeing a decrease in demand, with job postings falling for the first 6 months of the year. However, junior roles and graduate opportunities are still readily available. Demand for more senior roles like HR Managers and HR Business Partners have seen a rebound in June, another positive sign for the function. This may be a sign of enterprises looking to find a leader to help the company through the pandemic. With many new government guidelines, experienced HR leaders will be needed for compliance with regulations.
June has proved to be a good month for Admin and HR function as the number of job postings has increased by 18% from May. This has coincided with better control of the Covid-19 situation and return to normality in Hong Kong.
Strong Need for HRIS Specialists
More companies are beginning to operate a Human Resource Information System (HRIS) to manage their HR with IT. HRIS provides a database to store all the data information needed to keep track of important HR trends. With technology playing a greater part in everyday operations, the adoption of HRIS will be a natural process for the business world.
The introduction of the Distance Business Programme (D-Biz) by the Hong Kong Government has provided companies with the funding and fast-tracked the introduction of HRIS into their management system. Due to the requirement to complete the project within 6 months to qualify for the D-Biz subsidy, HRIS specialist positions have seen a spike in demand. Digitisation will only increase the need for these professionals in the future.
Positive Outlook After Travel Restrictions Lift for Administration Jobs
The lack of urgency to replace admin positions can be traced to global travel bans. With fewer meetings, overseas travel and general disruption to usual business operations, administrative work has decreased, leading to businesses requiring less administration staff during this period.
However, as the situation gradually improves and business trips resume, the need for administration experts will begin to rise again. With the current candidate pool filled with talented and experienced individuals, companies should strongly consider taking advantage and hire the right talent now.
Need Help Hiring the Right Admin & HR Talent?
Hong Kong’s long run of no locally transmitted Covid-19 cases provides a good level of optimism for the job market. Asia-Pacific nations are showing the best signs of recovery and the rest of the world is expected to follow soon after. Recruiting now is the best time for companies looking for exceptional long-term replacements.
Are you looking to find only the best Admin & HR talent? Links International has over 20 years of experience in countries around Asia-Pacific. Our award-winning recruitment services can find you the perfect candidate to fill your position. Talk to our professional Human Resources & Administration recruitment team to learn how we can help you.
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Links International is an industry leader in innovative HR outsourcing with services such as payroll outsourcing, visa application, Employer of Record (EOR), outplacement, recruitment and more! Contact us for more information on how we can help leverage your HR function.