The Asian market moves quick and speaks by action. To help you better navigate the market, we’ve put together a Mid-Year Asia market update. Through our connection with numerous clients and candidates, Links is able to draw upon the latest insights in Asia.
Our network helps us present you with a better understanding and take advantage of the latest trends out there. If you’ve missed any of our previous market updates, make sure to check them out and keep up-to-date on the latest:
For a more extensive look at the Asian market, check out our 2018 Asia Salary Snapshot!
Hong Kong
Job Vacancies & Hiring Intentions
There’s been many temporary and contracting roles opening up since Q2 of this year. As budgets and headcounts are confirmed, companies have been looking at contract and temporary solutions to help deliver the results. Operational roles like HR and accounting in particular have been on high demand with businesses looking to optimise their internal function.
While companies have generally not applied much change to their bonus payouts, we are finding that more firms are willing to offer fuller packages with perks and fringe benefits in order to attract top talents in the market.
Market Climate & Predictions
Entering mid-year, many firms are using temporary and contract solutions as a way to keep up with the demands of the market. A major trend we’re witnessing is the way banks are outsourcing major functions, using temporary and contract talents to keep a stable headcount. Looking at the active market in Asia, we predict more firms to turn to contract and temporary solutions to meet corporate targets and keep up with the demands of the market.
Singapore
Job Vacancies & Hiring Intentions
For the Singapore market, we’ve seen a rise in temporary and contract hiring from banks. Roles dealing with compliance, risk , KYC/AML, and finance has especially been in high demand. As the Monetary Authority of Singapore (MAS) is on the move to make changes to the framework, many companies are finding it more efficient and cost-effective to hire temporary solutions. Contract and temporary staff of 6-12 month tenures at entry to junior executive level are being hired to help companies align themselves with the MAS updates.
Market Climate & Predictions
For Q1 and Q2 quarter on quarter, the rise in temporary and contract hiring remains constant as companies, specifically in the Banking & Finance industry face challenges in acquiring headcounts for permanent hiring.
Temporary and contract hiring will continue to rise across 2018. Individuals in the banking & finance industry are increasingly opening up their interests in contract positions as the industry is proving to be increasingly competitive year on year.
Want to get access to the best Temporary & Contracting talents and jobs in Asia? Links is an award-winning recruitment agency, get in touch with us now to see how we can help you achieve your career goals.
If you’re looking for more insights into benchmark salaries in Asia, click below to receive our 2018 Asia Salary Snapshot.
