Hays Construction & Property - January 2009

Hotspots

Professionals are required across the board, from architects to engineers, particularly those with experience in transport infrastructure.

In Hong Kong and China, there is also demand for project managers and general managers, as financially secure real estate development projects continue through the construction phase.

In Singapore, demand centres on project managers and project directors, and projects are expected to progress through to 2012, strengthening the market and providing new opportunities to experienced local candidates.

The coming quarter

In all industries, the focus remains on retaining staff. With new projects coming online in 2009, recruitment will continue at a steady pace. In China, the first quarter of the year is traditionally the slowest in terms of recruitment, however this situation will change after Chinese New Year.

Employers are becoming more receptive to the use of contract recruitment and no longer relying solely on their own networks for referrals, thereby broadening their market reach for available talent. In addition, employment branding has gained importance, and the key message has been long-term career growth.

Salaries

Moderate salary movements are expected, with no significant increases on the horizon. With the luxury of candidate choice for the first time in years, particularly within real estate development, employers are becoming more selective. Nevertheless, top talent at the more senior levels will still be able to command a premium.

Similarly, in Hong Kong the demand for candidates with transport or rail experience will likely result in increased salaries in this area. This is due to new transport projects in Hong Kong and government funding for 10 major infrastructure projects totalling 250 billion. The peak in project teams is expected to hit in 2009 and 2010.

Candidate trends

In the emerging markets of Hong Kong and China, professional candidates across the board are in short supply. With the increase in large infrastructure projects and high-end mixed-use developments in Asia, professional candidates who can speak both Chinese and English will be very desirable to both international and local companies.

In another candidate trend, expatriates are returning to the Hong Kong market in greater numbers from North America, the UK and Australia.