More employers to expand instead of downsize

Nearly two in five employers are looking to expand their workforce in the next three months, but 27 percent plan to downsize, a hiring survey has found.

Human resources organization ManpowerGroup yesterday released its hiring forecast for the third quarter based on a survey of 515 Hong Kong employers.

It found 38 percent of them expect to hire more in the next three months, 27 percent expect to cut staff and 34 percent will keep it steady.

"The unemployment rate is 5.4 percent and I believe that it will linger at this level as there are many external factors, while the recovery time of various industries is different," said Lancy Chui Yuk-shan, senior vice president at ManpowerGroup Greater China.

But she said Hong Kong has been gradually recovering from the fifth wave of the pandemic so "hiring prospects will improve by 8 percent compared with the [April to June] quarter.

And then it will 10 percent compared with the same July to September period last year," Chui said.

The study showed that the local market wants talent in information technology, sales and marketing, as well as manufacturing and production.

It also found that employers in catering, hotels and construction sectors are optimistic about employment in the next three months.

"The restaurant industry sales are projected to grow in view of the epidemic trend continuing to be stabilized, the extension of dine-in services until midnight and the release of the second half of the consumption vouchers in the summer," Chui said.

She said recruitment activities revived compared to the previous quarter after Hong Kong welcomed nonresidents from May 1. The city is also in need of highly skilled construction workers for large infrastructure projects, residential projects and urban renewal development in the coming years, Chui said.

The company also surveyed 40,353 employers in 40 countries and regions, among whom 75 percent said they have vacant positions that cannot be filled, and vacancies grew by 6 percent over the same period last year.

"Global talent shortages are at the highest levels in 16 years," Chui said.

She said employers find it most difficult to recruit people for posts in IT, telecoms, communications and media, banking, finance, insurance and real estate, as well as health, social work and government sectors.

sophie.hui@singtaonewscorp.com