Embargoed until Wednesday, October 17 2012 - 2:30 pm
BETTER ALIGNMENT OF EMPLOYEE SKILL SET AND REQUIREMENTS CAN PREVENT EMPLOYEES BEING OVERWHELMED AT WORK
Chinese employers most confident about increasing headcount in Asia-Pacific region says new report
SHANGHAI – 17 OCTOBER 2012 – There is great deal employers can do to help staff manage their workload and prevent them from becoming overwhelmed at work, according to the latest Hudson Report: Employment Trends published today.
The report reveals more than half of employees (58.1%) say they cannot always finish their tasks during a standard eight-hour working day although close to a third (31.2%) feel more able to complete their tasks than this time last year.
The report recommends employers give clear KPI’s to all their employees and conduct regular reviews to identify any skills gaps and training needs.
Hudson (NASDAQ: HSON), a global talent solutions company with expertise in leadership and specialised permanent and contracting recruitment, RPO, talent management, eDiscovery and project solutions, surveyed 817 China employers in August for the October-December period.
Lily Bi, Joint General Manager of Hudson Shanghai, said: “The China market is facing intense competition in many sectors at the moment and it’s vital for employers to maximise the productivity of their workers. This isn’t necessarily about working longer hours though; it’s about supporting employees and enabling them to fulfil their potential. Employers offering effective leadership, individual direction and monitoring, regular and timely feedback, coaching and mentoring will get the most from their staff. These techniques promote staff development and motivation, which means they help enhance productivity without overloading people.”
Hiring intentions still the strongest in APAC
The report also shows that Chinese employers are again the most confident in the Asia-Pacific region. More than half of employers (53.5%) in China say they intend to grow their headcount, while 40.2% plan to do so in Hong Kong, 35.9% in Singapore, 31.3% in New Zealand and 25.5% in Australia.
The survey shows a growing number (41.4%) of China’s employers plan to keep headcount steady and a reduced percentage (5.1%) intend to decrease staff.
“The latest hiring expectations data reflect the fact that this is the season for planning and review; expectations are often conservative at this time but there is still plenty of good news. The consumer sector, particularly luxury retail and consulting, is still performing strongly and related professions such as media, PR and advertising have a strong appetite for hiring too. Talent is very tight in this area and there is especially strong demand for Chinese professionals who have overseas experience in these disciplines. We expect this demand to continue for the foreseeable future,” said Ms Bi.
Most confident industries
Consumer is the most positive sector over all; well over half (58.0%) of Consumer sector employers plan to increase headcount. Media and marketing professionals are in similarly high demand; well over half (57.4%) of employers in this sector say they plan to increase staff in the next quarter. IT&T is strong too with 56.3% of employers planning to add headcount in the next three months.
Less confident industries
The biggest drop in recruiting intentions is in Manufacturing & Industrial (down 7.3pp). A slowdown in China's Manufacturing sector activity intensified as both output and new orders fell while manufacturers cut prices to compete for business. As a result, the HSBC China Manufacturing Purchasing Managers' Index (PMI) for August fell to a seasonally adjusted 47.6, its lowest level since March 2009, and employers became more cautious, putting their focus on retaining headcount.1
Ms Bi commented that achieving the highest quality hires has never been more critical: “Organisations are recognising that every hire is an investment. If employers want to maximise their return on that investment, they need to commit to a rigorous, consistent recruitment process that goes far deeper than simply reviewing technical skills and reference checking. They need to be clear about what constitutes success in a role and which skills, competencies and behaviours are needed. They should recruit to that model if they want their business and teams to achieve high performance.”
The Hudson Report: Employment Trends has a reputation as a key socio-economic indicator in the current marketplace. Since its launch in 2000, the survey has been built on the premise that employers’ expectations of an increase or decrease in staffing levels represent a significant indication of their level of optimism about the growth of their organisation and their industry as a whole. The report surveys the expectations of over 6,400 key employment decision makers in Asia-Pacific including multinational organisations of all sizes in all major industry sectors. Respondents were also asked about whether their employees are able to finish their tasks during standard working hours (8 hours), employees’ view on working additional hours as well as effective methods to prevent employees from being overwhelmed at work.
- ENDS -
Please contact us for more information, print-ready graphs or to arrange an interview.
Hudson (NASDAQ: HSON) is a global talent solutions company with expertise in leadership and specialised permanent and contracting recruitment, RPO, talent management, eDiscovery and project solutions. From single placements to total project solutions, Hudson helps clients achieve greater organisational performance by assessing, recruiting, developing and engaging the best and brightest people for their businesses. The company employs more than 2,000 professionals serving clients and candidates in approximately 20 countries. More information is available at Hudson.com.
This press release contains statements that the company believes to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this press release, including statements regarding the company's future financial condition, results of operations, business operations and business prospects, are forward-looking statements. Words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “predict,” “believe” and similar words, expressions and variations of these words and expressions are intended to identify forward-looking statements. All forward-looking statements are subject to important factors, risks, uncertainties and assumptions, including industry and economic conditions' that could cause actual results to differ materially from those described in the forward-looking statements. Such factors, risks, uncertainties and assumptions include, but are not limited to, global economic fluctuations; risks related to fluctuations in the company's operating results from quarter to quarter; the ability of clients to terminate their relationship with the company at any time; competition in the company's markets; risks associated with the company's investment strategy; risks related to international operations, including foreign currency fluctuations; the company's ability to implement cost reduction initiatives effectively, including the recently announced restructuring program; the company's dependence on key management personnel; the company's ability to attract and retain highly skilled professionals; risks in collecting the company's accounts receivable; the negative cash flows and operating losses that the company has experienced from time to time in the past may reoccur in the future; restrictions on the company's operating flexibility due to the terms of its credit facilities; the company's heavy reliance on information systems and the impact of potentially losing or failing to develop technology; risks related to our dependence on uninterrupted service to clients; the company's exposure to employment-related claims from both clients and employers and limits on related insurance coverage; volatility of the company's stock price; the impact of government regulations; and restrictions imposed by blocking arrangements. Additional information concerning these and other factors is contained in the company's filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this document. The company assumes no obligation, and expressly disclaims any obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.