Talent & Tech Asia Summit 2024
human resources online

57 % of APAC recruiters find it hard to find qualified candidates

According to a recent global study released by the Futurestep division of Korn Ferry the preeminent global people and organisational advisory firm, rapid business growth, changing candidate demands and a shortage of qualified professionals will create intense competition for talent in APAC this year.

The first of the three  reports - Futurestep’s global survey of more than 1,100 hiring professionals worldwide - unveiled that 57% of APAC recruitment professionals say sourcing qualified candidates is now more difficult than it was 12 months ago. With that said, research and development (R&D) as well as sales roles are amongst the hardest to fill according to APAC respondents.

Pip Eastman, managing director, ASEAN at Korn Ferry Futurestep commented: “Respondents from Asia Pacific indicated candidate scarcity for highly skilled and technical roles will be significantly greater in 2017.”

“As a result, talent acquisition professionals throughout the region will need to use all of the resources at their disposal in order to create and articulate an employer brand that attracts, excites and ultimately retains the best candidates for the job,” he added.

Significant numbers of respondents cited recruitment activity being impacted by rapid business growth and the growing need for new skills in a changing market (both 20%), followed by continued economic uncertainty (19%).

Not only that, the survey revealed that candidates’ priorities change in light of greater demand for their skills, resourcing professionals in the region will also need to consider how to create a more compelling offer.

ALSO READ: 63% would rather be promoted with no raise, than a raise with no promotion

Although respondents cited benefits package as the defining factor in candidate appeal both today and five years ago, there seems to be little doubt that its significance is dwindling.

While 43% pointed to it as a defining factor when trying to attract candidates five years ago, just a quarter said that the same was true today. Instead, company culture (20%) and career progression (21%) are seen as increasingly vital qualities when trying to entice APAC candidates.

According to Eastman, the pay and benefits package was considered to be the most defining factor (43%) in attracting high-quality candidates to roles in APAC five years ago.

He commented: “Whilst it continues to be an important factor it is dwindling in importance as focus moves to culture and career progression.”

“This shift reflects similar changes globally,” continued Eastman.

This trend looks set to continue well into the future. Asked to specify what might draw candidates to a role in five years time, 26% said that they expect company culture, flexible working (22%) and the company mission (15%) to be defining factors in winning a prospect’s attention.

Eastman recommended not to underestimate the importance of culture, flexible working practices and company’s mission.

“The ability to create an appealing, empathetic employer brand that clearly communicates its vision and purpose is only going to become more important to attracting top talent as competition becomes increasingly fierce over the coming years,” he concluded.

Photo / 123RF

Follow us on Telegram and on Instagram @humanresourcesonline for all the latest HR and manpower news from around the region!

Related topics

Related articles

Free newsletter

Get the daily lowdown on Asia's top Human Resources stories.

We break down the big and messy topics of the day so you're updated on the most important developments in Asia's Human Resources development – for free.

subscribe now open in new window