Human Resources
Coming into 2022, the overall hiring activity had picked up by the end of Q1 compared to much of 2021.
Sectors previously most impacted by the pandemic, such as retail and hospitality, started hiring again. Similarly, 2022 was an active year in the financial services industry regarding the overall HR recruitment appetite. Organisations had higher expectations of the people they would consider bringing on board as they continued to refine teams toward leaner models and structures. Getting the right capability within a finite headcount for most organisations proved critical.
Market Trends
The pandemic changed HR trends in the Asia Pacific. In recent years, HR candidates prioritised what they were looking for from their employers when deciding who they would like to work for: Company stability, flexible working arrangements and clear D&I strategies were all notable priorities for HR candidates to determine which career opportunities most resonated. Many companies have implemented a permanent hybrid work model. A “healthy workplace” is also very much emphasised in this new work age, where employees look for empathetic, supportive, authentic leaders and managers.
Outlook for 2023
As we move into 2023, hiring activity has kept up, and we expect an active H1. We expect the theme of “building capability in leaner HR settings” to continue, coupled with the need for high-calibre HR professionals. With Hong Kong borders reopening, restrictions easing, and HK returning to pre-Covid travel, we fully expect more international talent outside Hong Kong to explore opportunities within the territory.
Dorraine Tay
Director Head of C&I & HR Practice +852 2520 0854 dorrainetay@puresearch.com
Ivonka Fung
Principal Consultant Business Support & HR +852 2520 5755 ivonkafung@puresearch.com