Report Shows HK Hiring Expectations Low

Recruitment firm Hudson has released a report surveying the hiring expectations of nearly 3,000 respondents in multinational organisations across industry sectors.

The report shows:

• 14% of executives plan to hire in the second quarter of 2009, compared with 18% in the first;
• Twice as many respondents are exopected to reduce headcount this quarter;
• Hiring expectations in Hong Kong are lowest compared to all other Asian countries;
• 51% of respondents have cut HR-related costs in the past six months;
• The most popular cost cutting methods include headcount reduction and lower bonus payments;
• To maintain staff morale, companies say open communication, CEO messages are most effective in economic climate.

ALB