Hiring expectations remain at a high level in China, Hong Kong and Singapore, according to The Hudson Report on Employment and HR Trends for Quarter Four (Q4) 2010.
Although the growth in hiring expectations appears to be leveling off, they are still at a very high level in all three markets. Singapore is the only market to report an increase this quarter, while China and Hong Kong remain at the same level as Q3 2010.
The report finds that 65% of respondents in China expect to grow headcount, the same figure as in Q3 2010 and the highest since Q1 2006.
Expectations remain at the highest level ever recorded by The Hudson Report in Hong Kong, where 65% forecast increased hiring, the same proportion as in the previous quarter. Over in Singapore, expections are still rising, where 58% predict headcount growth, the highest level since Q1 2001.
The report also surveys the importance of reference checking, the prevalence of and reasons for dishonesty in resumes, staff turnover and anticipated company performance.
Employers in China are the most likely to regard reference checking as important, while those in Singapore regard it as less vital.
Hong Kong has the lowest proportion of employers who have encountered candidates being dishonest in their resumes. Candidates who are dishonest in their resumes are most likely to exaggerate their job responsibilities and remuneration packages.
In China and Hong Kong, nearly one-third of respondents say the average staff turnover rate is more than 10%.
Meanwhile, respondents in all three markets are more optimistic about future performance than they were in Q1 2010, notes the report.
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