Rounding up today’s local and regional HR highlights:
What do Hong Kong and China’s employees want?
While 37% of Hong Kong employees are planning on looking for a new job in the next year, 47% of those in China are confident the job market will improve in the next 12 months.
The Michael Page survey also found employees from both China and Hong Kong expect a salary boost if their employers want to retain them (62% and 29% respectively).
Career progression (17% in Hong Kong) and more learning and development opportunities (18% in China) are also highly sought after incentives for retention.
“Offering a range of benefits and work-life balance options is also key to encouraging professionals to accept a role with a business or to remain in a company,” Richard King, managing director of Michael Page in North and Eastern China, said.
Local insurance sector feeling the talent pinch
According to PwC’s Insurance Banana Skins 2013 report, Singapore’s insurance industry biggest concerns revolve around human capital issues, with the second biggest worry for local insurers being the quality of management.
“This is a growing market so you’re getting that automatic demand-supply imbalance because it’s growing fast and there’s a lack of home-grown talent over many years,” Roy Clark, the Singapore insurance leader at PwC, said.
Therefore companies have to attract, motivate and retain talent by providing opportunities for them to develop professionally, while aligning HR strategies with business competencies.
Wanted: Accounting and finance professionals
Singapore companies are on the hunt for accounting and finance professionals, a report by Robert Half found.
According to the survey, 39% of banking and financial services employers will be hiring for those roles in the current quarter, while 51% expect to maintain headcounts.
The employers added the biggest reason driving increased hiring is the need to support growth plans, including supporting new markets, projects and services.
“Whether it is increased presence in existing markets or entry into new markets, companies will need top talent with deep accounting and finance expertise to support their growth,” Stella Tang, director of Robert Half Singapore, said.