China at the forefront of business growth in the first quarter

• 61% of companies plan to increase staff numbers in the first quarter
• 67% of employers predict business conditions will strengthen
• Retention is a key focus for 48% of businesses

China will lead the Asia Pacific region in new jobs growth for the first quarter, according to the latest Michael Page Employment Index.

Some 61% of companies surveyed in China are increasing staff numbers in the first quarter. This compares to 53% of employers in Singapore, 51% in Hong Kong and 47% in Australia.

China also leads the way when it comes to business confidence, with 67% of respondents predicting business conditions will strengthen in the first quarter.

“Companies are looking to take advantage of positive economic conditions by recruiting revenue generating roles in areas like sales and business development. The demand for operational roles is also rising in order to support increasing levels of business activity,” said Andy Bentote, Managing Director of Michael Page, Northern & Eastern China.

As the professional labour market in China tightens, the retention of top talent is becoming a key business challenge for employers. Some 48% of companies surveyed are already placing a major focus on staff retention strategies.

“Over half of the companies we surveyed in China expect staff turnover to increase in the first quarter. Employers will need to work hard to retain their most skilled and capable people to help drive their business forward in 2011,” said Mr Bentote.

 

Further Information

• Visit the News and Research Centre
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• China Michael Page Salary & Employment Forecasts
• Hong Kong Michael Page Salary & Employment Forecasts
• Visit the Salary Centre