Contract Work a Stepping Stone to Permanent Job, Said CFOs in Hong Kong

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If you land a contract or temporary job in the finance team in Hong Kong, you have a good chance of getting permanent employment in the future.

According to a survey of 150 CFOs in Hong Kong by Robert Half, the majority (85%) would hire a person for a permanent position if he or she has done continuous temporary and/or contract work.

Almost three in four (74%) would extend a permanent contract to a skilled employee who was initially hired on a temporary basis – highlighting the potential opportunities for contract work to result in a permanent placement within an organization, Robert Half added.

“We witness a gradual change in the dynamic of the Asian workplace, in which employers are becoming much more receptive towards engaging temporary staff,” said Adam Johnston, Robert Half Hong Kong’s managing director. “Companies are fast realizing the benefits offered by having a mix of both contract and permanent staff. This in turn is also influencing the career trajectory of temporary workers, as it’s gradually becoming more common practice that top performing workers on a temporary contract are offered a permanent position by their employer if there’s an available opportunity and they have met expectations.”

Top five in-demand roles

When asked which areas within their department they have allocated budget to hire temporary/contract employees in 2018, the surveyed CFOs cited: accounting (37%), financial management (32%), compliance (29%), credit management (27%), and business/financial analysis (22%).

“Mid-level financial roles within accounting and financial management are seeing increased demand for contract workers, as employers seek to fill their talent pipeline in response to new accounting and regulation requirements,” Johnston said.

Demand for skilled financial talent to fill temporary work contracts will only increase in response to the strict regulatory market in Hong Kong to minimize risk and fraudulent behavior, he added.