Dramatic slowdown in senior recruitment saw job ads fall 9% in 4Q 2010

The demand for senior, high profile roles which are not usually advertised partially caused the decrease in job advertisement volume.

According to Robert Walters Asia Job Index, the Q4 Asia Job Index reveals consistent job advertisement levels from Q3 to Q4, concluding a year of strong growth in terms of recruitment. Although there has been a slight tail-off in Hong Kong and Singapore, this is entirely in line with expectations, due to the need to protect bonus pools and avoid added recruitment costs when approaching the end of the financial year. It may also be due in part to the significant emphasis on recruitment witnessed earlier in the year, resulting in some companies meeting or exceeding set headcount levels for the year, particularly within banking and financial services. Disappointment following trading updates by some organisations may have also dampened hiring enthusiasm in Q4.

Despite a decline across many sectors, there has been noticeable consistency within the IT services, human resources and administration sectors. This demonstrates the movement from cautious optimism to general confidence, as companies now look to provide additional support in areas which are usually scaled back during a down-turn in preparation for upbeat market conditions in 2011.

The level of job advertisements fell 9% in Q4. This was due in part to the demand for senior, high profile roles which are not usually advertised. Due to the time of year, there was also an expected decline in industry movement in Q4, as individuals await bonuses in the New Year before looking to change roles. Recruitment levels within the engineering sector across the quarter remained steady. Similarly, the human resources sector was broadly consistent as recovery within financial services necessitates a greater level of support.

Andrea Ross Managing Director, Robert Walters Singapore, comments: “This quarter, we have seen increased demand for senior candidates with a greater emphasis on quality over quantity. This combined, with a general reluctance to change jobs ahead of bonuses in the New Year, has resulted in a decline in job advertisements across most sectors. In 2011 we expect to see an increase in movement, as sentiment within the market continues to remain positive. This is particularly apparent in the human resources sector; where recruitment levels have remained broadly consistent in Q4. This demonstrates a sustained level of confidence in market recovery as more roles are filled to support business growth.”

A total of 236,191 job advertisements for professional positions were placed in the last quarter of 2010.