According to a global survey of 323 executive search recruiters performed by Association of Executive Search Consultants (AESC), 64% of executive search consultants hold a neutral to positive outlook for the senior recruitment industry in general for the second half of 2009. Even more promising was the 73 per cent neutral to positive outlook for individual search practices for July to December 2009 and over half reporting an improved demand for retained executive search during April and May compared to the 1st Quarter 2009.

Sectors experiencing significant improvements were Consumer Goods and Services and Life Sciences/Healthcare, followed by Energy/Natural Resources beginning to return to pre-recession levels, while emerging markets such as China and India with the highest potential for recruiting demand. The strength of these three sectors was echoed throughout the AESC Mid-Year Member Outlook Report with high current stability ratings and growth expectations for the second half of 2009. The General Management, Finance and Sales and Marketing functions were also highly rated in terms of improved demand and future activity.

The report also revealed signs of progress in the candidate market with the understanding that senior executives will consider a career move if there is exceptional financial and employment security offered at the new position or a better role and increased responsibility. The majority of search consultants agreed that clients are sympathetic to out of work candidates

Source: Search-Consult

Hiring expectations for China according to a Hudson Report for the third quarter 2009 are higher than other Asian markets despite a further small decline in the third quarter of 27% of respondents planning to increase headcount compared with 30% in the second quarter 2009.

The Manufacturing and Industrial sectors record the highest hiring expectations and greatest increase compared to the previous quarter for the third quarter. 34% plan to hire more staff in Q3 2009, up from 21% last quarter. The China government's stimulus for key industries seems to be having a positive effect in these sectors.

Expectations are rising in the IT&T sectors, where 33% of respondents expect to grow headcount, compared with 25% in Q2 2009. Large 3G projects are boosting demand for IT professionals.

Expectations in the Banking and Financial Services sectors are up slightly – 28% in Q3 2009, compared with 27% in Q2 2009, with the proportion of respondents forecasting a reduction in headcount falling dramatically from 20% in Q2 2009 to 6% in Q3 2009. Expectations for economic recovery and industry restructuring are driving banks' hiring plans.

In China 16% of respondents expect economic recovery to start this year and a further 27% during the first half of 2010. 39% of respondents say they are unsure about economic recovery, which is a much higher proportion compared to other Asian markets.

Manufacturing and Industrial sectors are the most positive, with 24% expecting the economy to begin recovery this year and a further 26% by mid-2010.

The Media/PR/Advertising sector is also confident, 17% forecast recovery in 2009 and a further 33% say it will start in the first half of 2010. Agencies appear to be responding to the trend for major companies to commence focusing on marketing initiatives again.

Source: Hudson

If you would like to know more about recruiting talent in China, please contact Gemini

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