New Crown Pneumonia│Graduate positions reduced by 40%

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Written by: Hou Cailin

2020-04-21 07:00

The epidemic of New Coronary Pneumonia continued, and the economy of Hong Kong entered a cold winter, affecting all industries. The unemployment rate in March further increased to 4.2%, a record high of nearly 10 years. JIJIS data also show that the number of university graduates employed in the first quarter of this year decreased by 40% compared with the same period last year. Some human resources consultants believe that this year ’s graduates will find it difficult to find jobs, and it is estimated that the starting salary will be lower than in previous years. Even if most companies do not stop the recruitment plan, they will also reduce the recruitment scale.

Comparing different industries, human resource consultants mean that some companies have stopped recruiting college management trainees, and junior positions in the business world are generally open to graduates from all subjects. It is believed that the competition is very competitive. However, due to the suspension of schools and the requirement for home work by enterprises, the development of online learning and home work systems, and the development of FinTech have made the innovation and technology industry go against the market. I believe that students with information technology background will have an advantage in employment this year. .

The number of posts decreased by 40% compared with the same period of last year

. The latest data from the JIJIS database shows that the number of graduated posts in the first quarter of this year dropped significantly last year. In terms of full-time graduation positions, there were only 12,217 jobs from January to March this year, a decrease of 8,114 jobs from the 20,331 jobs in the same period last year, a drop of up to 40%. As for part-time graduation positions, the number has dropped from 1,511 to 530, a drop of 65%.

Graduates are "difficult to find a lot of jobs" Graduates are in an awkward situation

Liang Weijia, vice-chairman of the Hong Kong Talent Management Association, bluntly stated that the employment of graduates this year is "certainly difficult." He explained that, affected by the epidemic, most companies have laid off employees and reduced pay to reduce operating costs. Even if there is no cessation of the recruitment plan, the scale of recruitment will be reduced. In the past, it was the peak recruitment season after the Lunar New Year, but this year's recruitment has been greatly reduced. It is expected that the starting salary of graduates will not increase this year.

Liang Weijia also mentioned that this year companies will pay special attention to cost factors when recruiting. Although most graduates have a starting salary of about 15,000, they are "new beginnings, a blank piece of paper." Companies need to spend resources and time to train, so I believe that companies I would rather hire candidates with two or three years of experience at a salary of 18,000 or 20,000 to make the situation of the graduates "embarrassing."

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It is expected that the entry salary will be lower than in previous years. Job seekers should keep abreast of market trends

Zhou Qiping, managing director of Anjun Human Resources Consulting Co., said that the degree of employment difficulties for graduates this year is predictable. It is expected that the overall starting salary for graduates this year will be lower than last year. She pointed out that this year's graduates will compete with people with one to three years of work experience. For companies, one to three years of work experience generally has a certain financial burden, and they are willing to reduce manual employment.

Zhou Qiping suggested that graduates should keep abreast of market trends, and at the same time maintain flexibility in terms of salary and work benefits. If you cannot find a full-time job within a short period of time, you can also do part-time work first, or choose to study, volunteer or other activities to reduce the window period.

Zhou Qiping, managing director of Anjun Human Resources Consulting Co., suggested that graduates should keep abreast of market trends, while maintaining flexibility in terms of salary and work benefits. (Photo by Lin Ruoqin / profile picture)

Enterprises stop recruiting MT students with IT background have advantages

Comparing different industries, Liang Weijia believes that the retail, logistics, and catering industries are "severely hit areas" under the epidemic, and recruitment has basically ceased. In the past, companies that had launched plans for university graduate trainees also reduced their hiring intentions this year. According to his understanding, some accounting firms have stopped the plan to recruit MT this year. Liang Weijia pointed out that due to the large number of business students, and the company's junior positions are generally open to graduates from all subject backgrounds, I believe that there is great competition. On the other hand, he also pointed out that information technology, medical technology, innovation and other professional industries have less influence, and believe that such companies continue to recruit.

In addition, Zhou Qiping also said that under the epidemic, school suspension and many companies require home work, resulting in the development of online learning, home work system, online shopping, and FinTech, so I believe that students with information technology background This year, it will have more advantages in employment. She also pointed out that it is believed that the company ’s trainee program will also be greatly reduced this year. The company ’s training for MT is generally half a year to two years, mainly for the medium- and long-term development of the company. Therefore, it will reduce the staff deployment in the medium and long term.

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KPMG report: Strong willingness to hire additional staff

KPMG interviewed the opinions of 569 senior executives and issued the employment trend survey report "Hong Kong Executive Salary Outlook 2020". The report shows that 52% of senior personnel in the innovation and technology industry expect to hire more staff this year, an increase from 44% last year, reflecting the trend of digitalization of services and routine processes. The survey also found that 92% of the industry is affected Interviewers received bonuses last year, indicating that the industry's profitability is rising.

As for the financial services industry, 23% of the respondents plan to hire more people, a decrease of 10 percentage points from 33% last year. The worries of the consumer goods industry and real estate industry are more obvious, with 41% and 27% of respondents expecting to cut staff this year, compared with 18% and 8% last year.

KPMG said that because the investigation was conducted before the new year, it mainly reflected the impact of the trade war and the revision of the storm, but it may not necessarily reflect the impact of the epidemic.

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