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53 per cent of Hong Kong firms to increase hiring in Q1

IDG News | Jan. 26, 2010
Hiring expectations continue to rise sharply in Q1 in Hong Kong, said recruitment firm Hudson

HONG KONG, 25 JANUARY 2010 - Hiring expectations continue to rise sharply in Q1 in Hong Kong, said recruitment firm Hudson Thursday.

In the new survey of over 500 executives across key business sectors, all interviewed during November, 53 per cent plan to increase hiring in the first quarter of 2010, compared with 35 per cent in Q4 2009, according to Hudson that recently released its quarterly report for Asia.

"Hong Kong has higher expectations than the other markets surveyed in Asia and most employers are increasingly optimistic about prospects for 2010," said Mark Carriban, managing director, Asia, Hudson.

Other significant findings in the Hudson report include:

* Across all sectors, 75 per cent of respondents plan to pay discretionary year-end bonuses for 2009;

* The level of bonus payments is rising, with 46 percent of employers expecting to pay more than 10 per cent of the employee's annual salary;

* Higher salaries and bonuses and mentoring and training programs are seen as the most effective employee engagement initiatives;

* Overall, 78 per cent of respondents forecast that their organization's performance will be excellent or good in 2010, almost double the 2009 figure of 40 per cent;

* Respondents in most sectors expect to have to pay higher starting salaries to attract the managerial talent they require.

 

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