Brilliant™ Q1 2015 Accounting, Finance and IT Hiring Forecast
JobsDB Q1 2012 Hiring Index...JobsDB Q1 2012 Hiring Index COPYRIGHT@2012, JobsDB HK. ALL RIGHTS...
Transcript of JobsDB Q1 2012 Hiring Index...JobsDB Q1 2012 Hiring Index COPYRIGHT@2012, JobsDB HK. ALL RIGHTS...
JobsDB Q1 2012 Hiring Index
COPYRIGHT@2012, JobsDB HK. ALL RIGHTS RESERVED
JobsDB Q1 2012 Hiring Index COPYRIGHT@2012, JobsDB HK. ALL RIGHTS RESERVED
1
Introduction
This report aims to provide information about the hiring plan and preference of employers in the coming months. A summary of
employer opinion on standard working hours legislation is also included. All information is based on the most updated information
from 103 corporations in Hong Kong.
Disclaimer
The information provided in this report is for reference only. Whilst JobsDB endeavors to ensure the accuracy of the information in this report, no express or
implied warranty is given by JobsDB as to the accuracy of the information. JobsDB shall not be liable for any damages (including, without limitation, damages for
loss of business or loss of profits) arising in contract, tort or otherwise from the use of or inability to use this report, or any material contained in it, or from any
action or decision taken as a result of using this report or any such material.
JobsDB Q1 2012 Hiring Index COPYRIGHT@2012, JobsDB HK. ALL RIGHTS RESERVED
2
Scope and Methodology
1. Objective The aim of this survey is to collect information on the hiring intention and preference of employers in Hong Kong. These findings will assist employers in devising their HR policies in the coming months. To keep HR professionals updated with the latest market information, starting from April 2009, JobsDB has been conducting this survey every three months to keep track of the market changes. 2. Survey Coverage
The survey covers 103 companies, among which, 63% employ less than 50 staff, 17% employ 50-100 staff, 6% employ 101-200 staff, 8% employ 201-500 staff, and 6% employ more than 500 staff.
Less than 50 staff 63%
50-100 staff 17%
101-200 staff 6%
201-500 staff 8%
More than 500 staff 6%
Size of participating companies
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Scope and Methodology (cont.) 3. Data Collection Method
The survey was conducted by an online questionnaire. Companies were invited through e-mail to fill in the questionnaire from 25 April to 7 May 2012.
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1. HR general planning 1.1 Hiring plan in the coming three months
Among the respondents, 67% said they will hire staff in the coming three months. This finding is 4% higher than the result in Q4 2011 (63% said they will hire staff) and 4% lower than the result in the same period last year (Q1 2011: 71%). 19% of respondents said they will freeze head count. 1% of respondents will cut head count.
Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012
We will hire staff 71% 68% 56% 63% 67%
We will cut head count 3% 2% 1% 4% 1%
We will freeze head count 12% 14% 26% 20% 19%
No plan yet 14% 16% 17% 13% 13%
0%
10%
20%
30%
40%
50%
60%
70%
80%
% o
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s
Hiring plan comparison (Quarterly)
We will hire staff
We will cut head count
We will freeze head count
No plan yet
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1.2 Level of staff to be hired
Among respondents who intend to hire staff in the coming three months, 64% of them will hire Clerical / Frontline staff, 43% will hire Supervisory / Officers and 43% will hire Middle Management / Non-managerial / Professionals. 9% of them will hire Top / Senior Management.
0%
10%
20%
30%
40%
50%
60%
70%
Clerical / Frontline Staff Supervisory / Officers Middle Management / Non-managerial / Professionals
Top / Senior Management
64%
43% 43%
9%
% o
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mp
anie
s
Hiring plan by level of staff
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2. Standard working hours
2.1 Standard working hours legislation
Among all respondents, 62% of them agree to legislate for standard working hours, while 38% of them disagree with the legislation.
Agree 62%
Disagree 38%
Do you agree to legislate for standard working hours?
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2.2 Standard working hours legislation – by company size
According to the survey, companies with more than 500 staff show strong support for standard working hours legislation (83.3%), followed by companies with 50 – 100 staff (66.7%) and with 201 – 500 staff (62.5%). Companies with 101 – 200 staff show the least support for standard working hours legislation (50%).
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
90.0%
60.0%
66.7%
50.0%
62.5%
83.3%
40.0%
33.3%
50.0%
37.5%
16.7%
% o
f co
mp
anie
s
Less than 50 staff 50-100 staff 101-200 staff 201-500 staff More than 500 staff
Yes 60.0% 66.7% 50.0% 62.5% 83.3%
No 40.0% 33.3% 50.0% 37.5% 16.7%
Do you agree to legislate for standard working hours? - by company size
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2.3 Standard working hours legislation – by industry
The Wholesale / Retail sector shows strong support for standard working hours legislation (71.4%), followed by Trading and Distribution (64.3%) and Manufacturing (54.5%). The Information Technology sector shows the least support for standard working hours legislation (44.4%).
* Percentage will only be shown if sufficient data is available for calculation
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
Wholesale/Retail Trading and Distribution Manufacturing Medical/Pharmaceutical Property Management/Consultancy
Information Technology
Yes 71.4% 64.3% 54.5% 50.0% 50.0% 44.4%
No 28.6% 35.7% 45.5% 50.0% 50.0% 55.6%
71.4%
64.3%
54.5%
50.0% 50.0%
44.4%
28.6%
35.7%
45.5%
50.0% 50.0%
55.6%
% o
f co
mp
anie
s
Do you agree to legislate for standard working hours? – by industry
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2.4 Reason for supporting standard working hours legislation
“Help achieve work-life balance” (95.3%) is considered as the most important reason for supporting the legislation, followed by “Better staff performance” (51.6%), “Allow staff to have Continuing Education” (45.3%) and “Increase in productivity” (42.2%).
0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% 100.0%
Others
Less operating cost
Increase in productivity
Allow staff to have Continuing Education
Better staff performance
Help achieve work-life balance
1.6%
34.4%
42.2%
45.3%
51.6%
95.3%
% of companies
Reason for supporting standard working hours legislation
Remark: Multiple answers are allowed, and the sum up is not equal to 100%
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0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0%
Others
Decrease in productivity
Worse staff performance due to the increase of work load
Increase in manpower/ operating cost
Weaken competitiveness
Less flexibility
7.7%
28.2%
30.8%
43.6%
64.1%
89.7%
% of companies
Reason for not supporting standard working hours legislation
2.5 Reason for not supporting standard working hours legislation
“Less flexibility” (89.7%) is considered as the most important reason for disagreeing with the legislation, followed by “Weaken competitiveness” (64.1%), “Increase in manpower/ operating cost” (43.6%) and “Worse staff performance due to the increase of work load” (30.8%).
Remark: Multiple answers are allowed, and the sum up is not equal to 100%
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2.6 Proposed standard working hours
Among companies that agree to legislate for standard working hours, the average number of working hours they propose is 42.5 hours per week.
2.7 Proposed standard working hours – by industry
Among companies that agree to legislate for standard working hours, the ceiling on working hours proposed by the Information technology sector is the highest (43.8 hours per week), followed by Wholesale/Retail (43.5 hours per week), Medical/Pharmaceutical and Trading and Distribution (both 42.5 hours per week) .
* Percentage will only be shown if sufficient data is available for calculation
41.0
41.5
42.0
42.5
43.0
43.5
44.0 43.8
43.5
42.5 42.5
42.0 42.0
Ho
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per
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Proposed standard working hours - By Industry
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2.8 Overtime compensation preference
Among the respondents who agree to legislate for standard working hours, 64% of them prefer leave compensation for overtime work if standard working hours are introduced. Only 30% of them prefer cash compensation.
Cash Compensation 30%
Leave Compensation 64%
Others 6%
Overtime compensation preference
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2.9 Overtime hourly wage
If cash compensation for overtime work is mandatory, 48.4% of them would accept overtime to be paid at 1.5 times original hourly wage, followed by same as original hourly wage (39.1%).
39.1%
48.4%
10.9%
1.6%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
% o
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If cash compensation is mandatory, what is the overtime hourly wage you can accept?
Triple of original hourly wage or more
2.5 times original hourly wage
Double of original hourly wage
1.5 times original hourly wage
Same as original hourly wage
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2.10 Effect of standard working hours legislation
If standard working hours are introduced, most of the surveyed companies tend to make no change in salary adjustment, benefit, bonus/double pay and no. of staff. However, more than half of them (55.3%) tend to increase product/service price .
21.4%
12.6%
24.3%
3.9% 2.9%
52.4% 70.9%
64.1%
52.4%
41.7%
26.2%
16.5% 11.7%
43.7%
55.3%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Salary Adjustment Benefit Bonus/Double pay No. of staff Product/Service price
% o
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s
If standard working hours are introduced, how will it affect the following aspects?
Increase
No Change
Decrease
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2.11 Concern for the implementation of standard working hours
“Need to review work arrangement” (73.8%) is considered as the top concern, followed by “Set up/ Adjust HR policy/system” (66.0%), “Increase in manpower/ operating cost” (63.1%) and “Need to hire and train more staff” (36.9%).
0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0%
Others
Need to hire and train more staff
Increase in manpower/ operating cost
Set up/ Adjust HR policy/system
Need to review work arrangement
2.9%
36.9%
63.1%
66.0%
73.8%
% of companies
What is your concern for the implementation of standard working hours?
Remark: Multiple answers are allowed, and the sum up is not equal to 100%
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Agree 72%
Disagree 8%
No Idea 20%
Do you agree that some job positions should be exempted from standard working hours legislation?
2.12 Job positions exempted from standard working hours legislation
Among the surveyed companies, 72% of them agree that some job positions should be exempted from standard working hours legislation, only 8% of them disagree with the exemption.
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92.9% 81.8%
75.0% 71.4%
50.0% 44.4%
0.0% 9.1% 25.0%
14.3%
25.0%
11.1%
7.1% 9.1% 0.0%
14.3% 25.0%
44.4%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
% o
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Do you agree that some job positions should be exempted from standard working hours legislation?
No idea
No
Yes
2.13 Job positions exempted from standard working hours legislation – by industry
Most of Trading and Distribution companies (92.9%) agree that some job positions should be exempted from standard working hours legislation, followed by Manufacturing (81.8%), Medical/Pharmaceutical (75.0%). Only less than half (44.4%) of the Information Technology companies agree with the exemption.
* Percentage will only be shown if sufficient data is available for calculation
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18
3 Working Overtime
3.1 Standard working hours of companies
The average standard/official working hours of surveyed companies is 43.2 hours per week.
3.2 Standard working hours of companies – by industry
Among all companies, Property Management/Consultancy companies have the highest standard working hours (average = 46.1 hours per week), followed by Information Technology (average = 44.3 hours per week) and Trading and Distribution (average = 43.8 hours per week) .
* Percentage will only be shown if sufficient data is available for calculation
39.0 40.0 41.0 42.0 43.0 44.0 45.0 46.0 47.0
46.1
44.3 43.8
42.8 42.5
41.7
Ave
rage
ho
urs
per
wee
k
Standard working hours – by industry
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3.3 Standard working hours of companies – by company size
Companies with more than 500 staff have the highest standard working hours (average = 44.6 hours per week), followed by companies with 201 – 500 staff (average = 43.8 hours per week) and companies with less than 50 staff (average = 43.4 hours per week) .
40.0
40.5
41.0
41.5
42.0
42.5
43.0
43.5
44.0
44.5
45.0
less than 50 staff 50-100 staff 101-200 staff 201-500 staff more than 500 staff
43.4
41.8
42.7
43.8
44.6
Ave
rage
ho
urs
per
wee
k
Standard working hours - by company size
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3.4 Overtime hours
Among the surveyed companies, the average overtime hours of each employee is 4.8 hours per week.
3.5 Overtime hours – by industry
Among all companies, Wholesale/Retail companies have the highest overtime hours (average = 6.7 hours per week), followed by Manufacturing (average = 6.2 hours per week) and Trading and Distribution (average = 5.0 hours per week).
* Percentage will only be shown if sufficient data is available for calculation
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0 6.7
6.2
5.0
3.8
2.8
1.9
Ave
rage
ho
urs
per
wee
k
Overtime hours – by industry
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3.6 Overtime hours – by company size
Companies with 101 – 200 staff have the highest overtime hours (average = 9.3 hours per week), followed by companies with 201 – 500 staff (average = 6.0 hours per week) and companies with 50 – 100 staff (average = 5.5 hours per week) .
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
8.0
9.0
10.0
less than 50 staff 50-100 staff 101-200 staff 201-500 staff more than 500 staff
4.1
5.5
9.3
6.0
4.3
Ave
rage
ho
urs
per
wee
k
Overtime working hours - by company size
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Yes 37%
No 63%
Does your company provide overtime compensation?
3.7 Overtime compensation
Among the surveyed companies, more than half of them (63%) do not provide any overtime compensation, while only 37% of them provide overtime compensation.
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0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
Leave Compensation Cash Compensation Transportation Allowance
Meal Allowance Others
76.3%
57.9%
31.6%
21.1%
5.3%
% o
f co
mp
anie
s
Types of overtime compensation provided
3.8 Type of overtime compensation
Among companies which provide overtime compensation, 76.3% of them provide leave compensation for overtime work, followed by cash compensation (57.9%) and transportation allowance (31.6%).
Remark: Multiple answers are allowed, and the sum up is not equal to 100%
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4. Summary
Compared with the last quarter, the hiring intention is expected to rise slightly in Q2 2012. The survey results show that 67% of employers intend to hire in Q2 2012, up from 63% in Q1 2012. Clerical / Frontline staff has the highest demand, with 64% of employers planning to look for staff in this category. The survey indicates that more than half of employers (62%) agree to legislate for standard working hours. “Help achieve work-life balance” is considered as the most important reason for supporting standard working hours legislation. The statutory standard working hours they propose is 42.5 hours per week. And more than half of employers (64%) prefer to provide leave compensation as overtime compensation rather than cash compensation (30%). For the companies that do not support standard working hours legislation, “Less flexibility” is considered as their major concern. If standard working hours are in place, most employers foresee that they will make no change in salary adjustment, benefit, bonus/double pay and no. of staff. However, more than half of them (55.3%) tend to increase product/service price. “Need to review work arrangement” (73.8%) is considered as top concern for the implementation of standard working hours. Also, 72% of employers agree that some job positions should be exempted from standard working hours legislation. Among the surveyed companies, the average standard working hours is 43.2 hours per week. The average overtime hours of each employee is 4.8 hours per week and companies with 101 – 200 staff have the highest overtime hours (average = 9.3 hours per week). More than half of companies (63%) do not provide any overtime compensation. And among the companies which provide overtime compensation, most of them (76.3%) provide leave compensation for overtime work.