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Managerial staff still in demand
Chinese firms are continuing to hire managerial staff despite the economic slump, with media professionals and accounts in most demand, an international poll has found.
Recruitment has remained relatively strong in China, with 43 percent of businesses taking on managerial personnel, according to a quarterly survey by Antal International this month.
The figure is expected to fall to 20 percent next quarter but the number of companies letting staff go will also drop, keeping the market stable, the survey said. "The global financial situation has certainly had an effect on the jobs market here, but conditions are still relatively strong," said Robert Parkinson, who runs Antal's operations in China.
"Hiring activity is down from the last quarter but at the same time so is the number of companies firing managerial staff," he said. "It suggests organizations are still looking for new talent but with caution, waiting to see what happens in the coming months."
The media, particularly for those with IT and Internet technical knowledge, is a strong employment area, with hiring expected to rise to 60 percent in the next quarter and firms laying staff off set to drop by 7 percent.
"The demand for IT and Internet media professionals reflects a demand in distant communication through technical assistance, a result of companies cutting traveling budgets during the economic slowdown," Parkinson said.
Hiring rates for accountancy firms plunged from 96 percent last quarter to 57 per cent, but sackings will fall from 27 percent to 7 percent next quarter, the survey said.
Automotive companies are expected to fire more people, with a predicted rise from 13 percent to 20 next quarter, while hiring dropped from 86 percent last quarter to 37 and is expected to fall again to 23 percent next quarter.
In banking "hiring has seen a rebound", says Parkinson. The economic crisis highlighted the importance of managing personal wealth, resulting in a lift in private banking and risk management services, he said.
(China Daily February 9, 2009)
dacare This entry was posted on February 16th, 2009 at 07:54:49 pm by dacare and is filed under Investing in China, Candidates, Labor and Worker.