Hiring expectations remain strong in China and Hong Kong

The hiring expectations of multi-national corporations across major Asian markets, though slightly lower than last quarter, remain strong, according to the just-released “The Hudson Report – Asia Q3 2011″.

The report surveyed more than 1,550 key employment decision makers in China (Beijing and Shanghai), Hong Kong and Singapore.

In Hong Kong, 61 percent of respondents plan to hire more staff in Q3, down from 69 percent in Q2. In China, 72 percent forecast headcount growth in Q3, compared with 77 percent in Q2.

Hong Kong is the only market in which cost control measures are seen as the most significant factor in a company’s performance. Across all sectors, 45 percent give this response while restructuring the organisation and better management practices are both mentioned by 37 percent of respondents.

The report also highlighted a worrying trend that it is not uncommon for managers to leave in their first year, although the figure for Hong Kong (38%) is much lower than that for China (65%). According to 50 percent of respondents in Hong Kong, the average tenure for managerial employees is over three years, a higher figure than for the other markets. Of these, 25 percent say that the average tenure is between three and four years and 25 percent say it is over four years. Job roles failing to meet expectations is the most common reason for managers leaving their position within their first year.

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