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Over 50% of firms expect to hire more
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More than half of employers in China expect to boost recruitment in the fourth quarter, a turnaround from two straight quarters of less hiring, according to a Hudson report released yesterday.
The report said 54.9 percent of nearly 1,000 employers surveyed plan to add to their headcount in the October-December period, up 3.4 percentage points from the previous quarter, while the intention to cut the workforce fell by 5.1 percentage points to 8.1 percent.
“China’s economy has shown signs of stabilization, helped by policy support and some improvement in global demand,” said Cherol Cheuk, joint general manager of Hudson Shanghai, a global recruitment firm.
“With activity picking up, companies are looking to increase headcount to support their business growth in China,” she said.
The central government’s recent approval to set up the free trade zone in Shanghai is also encouraging to the market, she added.
But Cheuk noticed that medium and smaller companies “are more active in hiring as they seek to grab a bigger market share,” compared with large organizations which are more selective, set higher selection criteria and prepared to wait longer to get their employees.
Employers in media, public relations and advertising expressed the highest hiring intentions, with 67.5 percent of them set to add more staff in the fourth quarter as they tap China’s thriving e-commerce market.
Around 61.5 percent of firms in the consumer sector will hire more in the fourth quarter as they tap online shopping. The banking and financial services sector also seeks more staff to help develop and expand e-payment services, the report said.
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