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Sluggish hiring growth across Asia: Hudson survey

Carol Ko | Jan. 22, 2009
Cyclical sectors such as IT are hardest-hit as infrastructure-upgrade projects are put on hold.

At seven per cent, Singapore has the lowest proportion of respondents anticipating poor performance. Excellent or good performance is forecast by 47 per cent.

Asia: headcount freezes

Respondents were asked about how their companys HR strategy is changing (see graph) in response to the current economic situation. Freezing headcount is the strategy most likely to be adopted in all four markets. Strategic hiring of newly available talent and requiring global approval for new headcount are also widely seen as effective options.

China has the highest percentage of respondents, 23 per cent, who are strategically hiring newly available talent. The market is still short of talent in many key areas and employers are taking this opportunity to recruit scarce professionals.

In Hong Kong, a headcount freeze is most likely to be implemented by consumer and manufacturing companies. This response was given by 34 per cent of respondents in both sectors.

The manufacturing and consumer sectors also report the highest proportion of respondents freezing headcount in Japan: 36 per cent and 29 per cent respectively say they are adopting this strategy.

Together with Hong Kong, Singapore reports the highest percentage of respondents implementing a headcount freeze, expressed by 31 per cent of respondents.

 

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