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Key Employment Trends 2016: What's Hot and What's Not!
Emerging & Disruptive Technologies
Disruptive and emerging technologies appear to be the hottest sectors in Hong Kong at present and I can’t go to a business meeting or a social gathering without someone telling me about the latest technology, start up, app or talking about how technology is changing their business. If you work in cloud computing, mobile and digital technology, Mobile Development (especially iOS and Android skills), Digital Marketing, ecommerce, Data Analytics or SEO/SEM then you should have a wealth of opportunities in 2016!
The implementation of financial systems to make businesses more efficient is also a hot sector both globally and in Asia. Across both financial services and commercial industries, organizations continue to seek to upgrade or implement financial systems to give them a competitive edge. Demand for high quality project managers and business analysts (especially those with Change Management experience) to deliver these large scale projects on time and to budget is high and is expected to continue.
Calling all Contractors
Across Technology, Finance, Project Management, and Business support the demand for contracting professionals has never been higher in Hong Kong (especially within the Banking and Technology sectors). Often regarded as a win-win situation for both employers and job seekers, it’s not only a solution to headcount constraints or acquiring additional resources for a key project, but also as a “try before you buy” solution for both parties.
China Experts & Mandarin Speakers Still in High Demand in 2016
A major contributing factor to hiring in Hong Kong is China’s status as a leading world economy and although there is currently a lot of turbulence in China and global stock markets as well as concerns around the slowdown in growth, the sheer size and scale of the China market dictates that demand for China specialists in Hong Kong across many industry sectors in Hong Kong is still expected to remain high.
Luxury Retail Sector Slowdown
The slowdown in Growth in China / Rising Employment Costs / reduced footfall in Hong Kong and the more stringent anti-corruption legislation in China has impacted a number of industry sectors in Hong Kong & Macau, most noticeably the gaming, travel, and luxury retail sectors. As a result hiring across these industry sectors is expected to remain slower in 2016
Compliance, Audit & Risk Dominate Hiring in Banking & Financial Services
A lot of bad press for banks has meant that 2015 saw no let-up in the focus on compliance and risk management in major financial institutions. Multiple large global banks hit headlines with heavy fines being imposed on them for violating banking regulations and anti-money laundering policies. Banks have responded by continuing to hire Compliance and Risk Management professionals to improve their Compliance, Risk Management and Anti-Money Laundering (AML) programs. Compliance professionals, especially those with AML/sanctions experience are amongst the most sought after professionals in today’s employment market and can demand some of the highest pay increases in the market.
Accountants and Analysts in Demand
Hong Kong remains a leading Asian Financial hub and a platform for investment into China. Demand therefore for finance & accounting professionals with strong accounting and/or financial analytical skills coupled with excellent business acumen has remained strong in 2015 and we expect this to continue in the next 12 months.
Talented Sales Professionals in Demand
Almost without exception, the demand of quality sales professionals in Hong Kong has remained high in 2015 and is expected to continue. Although economic factors always play a key role in hiring plans, the requirement for high quality sales professionals who can add top line revenue to a business remains strong across the majority of industry sectors.
If you are looking for a new role in 2016 or if you would like to find out about how Ambition can help you source talented professionals across these job functions and many more, please contact me on email@example.com.
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