Confidence in an economic upturn strong in Hong Kong

Optimism amidst adversity is a virtue that keeps Hong Kong resilient.

Almost half of all Hong Kong companies that took part in latest Financial Employment Report of the accounting specialist recruitment firm, Robert Half, said they continue to be influenced by business confidence and optimism about growth opportunities in Hong Kong.

The report, based on a survey of 300 CFOs and finance directors in Hong Kong, found that eight of 10 financial leaders are confident about Hong Kong’s economic growth prospects for 2012, while 85% are confident in their own company’s growth plans compared to last year.

Of respondents, 44% said they expect to increase permanent finance, accounting and banking staff in the first half of the year.

Of the large accounting firms planning to hire permanent accounting, finance and banking staff, 45% said it is due to increasing workloads while 40% cited business growth or expansion.

“Hong Kong is maintaining its reputation as one of the world’s most competitive financial hubs. Amid the global economic uncertainty, bright spots exist within the finance and accounting and financial services sectors in Hong Kong. And this means opportunities are available for talented job candidates,” said Pallavi Anand, Director, Robert Half Hong Kong.

Finance (21%) was rated as the toughest functional area to find skilled job candidates, followed by accounting (18%), audit (13%), operational support (11%) and compliance (7%).

The survey also found that 46% believe there will be no change in the number of permanent accounting and finance professionals in their organisation in the first six months of the year. Only 2% say their company is planning to decrease headcount.

“Hiring within finance and accounting remains relatively upbeat and there is still intense competition for talented candidates. We would advise even those employers who are intending to keep headcount the same over the first six months to continue to take proactive steps to retain their best people and help develop their skills as they grow their businesses in 2012,” Anand said.

She said companies that have not fianalised their recruitment plans for the rest of the year could consider hiring temporary or contract staff.

Robert Half International, Inc. is a specialised financial recruitment firm and a pioneer in global placement services for accounting, finance, banking and technology professionals. Founded in 1948, the company is traded on the New York Stock Exchange.