High Expectations in IT Sector’s Headcount Growth for Singapore, Hong Kong & China
Hudson’s latest survey analysis reported that hiring expectations in the IT sectors in Singapore and Hong Kong are at their highest level for more than 10 years.
Hudson - one of the world’s leading professional recruitment, search, recruitment and talent management solutions providers, reported that Singapore's IT & T sector has 72 per cent of its survey respondents expecting to hire more staff, up from 68 per cent in the previous quarter.
Hong Kong & China
It also reported that similar positive expectations were present in Hong Kong’s IT sector, where 77 per cent of IT employers expected hiring to increase, up from an already high 70 per cent in the previous quarter. This current expectation level in Hong Kong is the highest since the Hudson Report was first launched. "(In Hong Kong) the continuing economic recovery is boosting demand for IT professionals in all areas, though the focus is now shifting to IT integration and systems providers - managed services providers (MSP)," the Report said.
The latest figures from the Hudson Report 'Employment and HR Trends January -- March 2011' also provided an upbeat outlook for the IT sector in China. Some 72 per cent of respondents in China forecast headcount growth this quarter, a steep rise from 65 per cent in the last quarter of 2010. China’s IT hiring expectations have risen for the seventh consecutive quarter and are at their highest level since the second quarter of 2000. "Many of the positions that disappeared during the economic downturn are now being filled again and key areas include mobile applications, business intelligence and cloud computing," the report stated. The Hudson Report said that a majority of employers in China and Hong Kong are using web-based and other social media channels to attract managerial hires; Online recruitment sites/job boards are the most widely used web-based recruitment channels.
Across all the sectors surveyed in Singapore, 87 per cent of respondents will pay discretionary bonuses for 2010, a much higher figure than the 74 per cent who gave this response a year ago. The proportion of respondents in Singapore’s IT&T sector planning to pay bonuses for 2010 has risen sharply, from 62 per cent at the beginning of last year to 90 per cent this year.
However, the Report stated that more than half (51 per cent) of respondents in the IT&T sector will not be expecting any salary increments for this year, a much higher proportion than for any other sector. Increments are most likely still to be seen for IT professionals working in the financial area. The Report stated that the IT sector in Singapore has the highest expectations to hire this quarter, creating fierce competition for experienced IT professionals with a wide range of skills. Employers in the IT sector will therefore still be trying hard to retain key staff.