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China's jobless have best chance in Q4

By Lu Hong (China Daily Shanghai Bureau)
Updated: 2009-11-11 08:48

The tide may be turning for Chinese who have been unemployed due to the global economic crisis as China plans to do more hiring this quarter than other country in the region, according to the latest study released by Hudson Asia in Shanghai.

The report from the international human resources firm said that 39 percent of respondents forecast a hiring increase in Q4, up from 27 percent in the last quarter. The data is based on interviews with over 650 executives from key industries in Shanghai and Beijing. It surpasses expectations for Hong Kong and Singapore.

"Employers in every sector forecast a headcount growth this quarter, showing a strong sign of recovery," said Mark Carriban, managing director of Hudson Asia.

Meanwhile, over half of respondents, or 56 percent, of the study said they will maintain a steady workforce over the coming months. Five percent plan on reducing their staff in Q4, compared to 12 percent who did so in the previous three months.

This all spells good news for those who have been jobless for a while: they are the most desirable hires for employers now, said the report.

Getting back on the market may prove tougher for people who have been out of work longer. Only 23 percent of employers said they will hire candidates in this category; 58 percent were non-committal.

Chinese with a specialized skill set and extensive experience have the best chance of landing a job regardless of when they last worked.

With the exception of the consumer sector, the majority of respondents said they have difficulty recruiting enough suitably qualified local candidates to fill senior positions. In such cases, companies are forced to look to foreigners, particularly in the banking and financial sectors, said Carriban.

"In recent years, the sector has put a lot of effort and money into introducing new products and services from abroad," he said. "Because these products and services are brand new in China's market, it's quite difficult to find specialists locally."

The banking and financial sectors, and consumer and IT industries, are expected to see the biggest hiring surge.

Meanwhile, respondents across the board ranked talent development, improving employee staff retention and organizational development as their top human resources priorities for next year.