Finance and accounting recruitment has been strong since the start of 2018, mainly due to the momentum carried over from the second half of 2017. Apart from tactical recruitment for reasons such as staff attrition, most of the hiring in the first 6 months have been strategic hires.
This is a result of improved market conditions, increased level of investments as well as more aggressive expansion plans by businesses in the past 6-12 months. This created an active recruitment market across nearly all finance and accounting functions.
POTENTIAL GROWTH IN RETAIL AND FMCG
The retail and FMCG sectors have made a strong recovery since the latter part of 2017 and businesses are making strategic adjustments that allow them to capitalize on growth opportunities in the current bullish market. With that, we have seen an increasing demand for FP&A professionals.
ANALYTICS, SYSTEM MIGRATION & IMPLEMENTATION, AND PROJECT MANAGEMENT SKILLS IN DEMAND
Employers are not only expecting candidates to possess outstanding data and analytical skills but also great commercial sense and business acumen. As more businesses move to cloud-based accounting systems, there is also an increase in job opportunities as employers are in need of talent with backgrounds in system migration and implementation. Such candidates will also need practical knowledge in accounting as well as experience in end-user training and robust project management skills.
EXPERIENCE IN CHINA AN ADVANTAGE
China has been, for many years, an important market within Asia. Employers are increasingly looking for candidates with regional exposure, particularly experience in China, in relations to accounting standards, regulations and taxation practices.
GREATER EMPHASIS ON GOVERNANCE AND INTERNAL AUDIT
Internal audit is also an area many companies are looking to expand this year. As businesses continues to grow, senior management and the board are keen to ensure risks are being mitigated and processes are being properly governed.
COMPANIES LOOK FOR ALL-ROUNDED AND CAPABLE CANDIDATES AT ALL LEVELS
Forecasting the coming 6 months, we predict recruitment activity will continue to be strong as overall market sentiment remains positive. Accounting professionals should be reminded that, in the current job market, many employers are looking beyond accounting qualifications and operational finance experience. At the entry level, employers tend to focus on the candidate’s attitude, maturity and reliability. At the junior management level, stakeholder management and an adaptive leadership style will be important. At the senior management level, business partnership skills and the ability to offer strategic advice are attributes employers will be looking for. To capture suitable talent in the market, it will be essential for companies to pre-determine the core skillsets of each role. Employers can benefit from effective branding and speedy recruitment processes, as well as by having a pipeline of talents for certain high-risk roles.
Source: Ambition Hong Kong Market Insights H2 2018
