HONG KONG, 17 December 2014 – Randstad Sourceright, a global talent management solutions provider, revealed today that half of the accounting professionals in Asia Pacific are willing to consider a move to Hong Kong.Randstad Sourceright also revealed that those willing to move to Hong Kong expect a 43-percent increase in salary on average, noting the relative impact of their base salary in their country of origin on the salary increase they expect to gain. This expected increase in salary reinforces the notion that many people see an international move not only as an opportunity to advance their career.
These findings are revealed in the white paper entitled, “The art of sourcing talent in Asia Pacific’s mobile talent market,” which was launched today. The paper explores emerging talent mobility trends in Asia Pacific and reveals how to win the new war for talent in an era of sustained talent scarcity.
Doug Edmonds, Regional Director of Randstad Sourceright Asia Pacific, said that against the backdrop of globalization, businesses are under increasing pressure to upgrade their talent management strategy to appeal to the international pool of mobile talent.
“As globalization continues to make the world smaller, careers are becoming more varied, and skilled professionals are increasingly more willing and better equipped to take up international opportunities. To encourage these highly skilled mobile professionals to relocate, companies need to understand what motivates them," he said. “We found that accountants and auditors in Australia and New Zealand would primarily move for career development and work experience, indicating the growing appeal of Asian experience for professionals in Western markets.
“Whereas professionals in Singapore and Malaysia would move for a wider range of reasons, including better remuneration, change of work environment, and a new cultural experience,” Mr Edmonds said.
Randstad Sourceright found that the majority of those willing to relocate to Hong Kong or elsewhere speak two to three languages. This demonstrates that the ability to utilize a second language in an international market makes relocation more appealing
With many Asian nations experiencing full employment, sourcing top talent is increasingly about tapping into the passive mobile talent pool – those not actively looking for work but are willing to change companies, cities or even countries for the right opportunity.
“With up to 70 percent of the professional talent pool not actively seeking new roles, employers need advanced sourcing strategies that engage sought-after candidates at the deep end of the highly skilled talent pool," Edmonds said. “For this purpose, Randstad Sourceright’s proprietary Total Talent Sourcing Methodology helps employers access and engage potential candidates whether they are actively looking for a job or not.
In short, to remain competitive, organizations need to have a comprehensive talent management strategy in place to deliver timely skills where they are needed most. Those that master this balance will be talent-ready in any economic environment, Mr Edmonds concluded.