China, Malaysia, Thailand see contract staffing growth
JIANGSU, CHINA — Employers in China, Malaysia, and Thailand are expressing strong optimism about the growth prospects in the contract recruitment sector, according to the 2024 Hays Asia Salary Guide.
This positive outlook is driven by significant projected increases in contract staffing for the upcoming year.
Thailand leads with highest growth
Thailand is leading the charge with a projected increase of 22.8% in contract staffing for 2024, a notable rise from the actual growth of 19.0% in 2023.
This enthusiasm highlights the country’s robust demand for flexible staffing solutions.
Steady growth in Malaysia and China
Malaysia is also showing a healthy growth trajectory with a projected increase of 15.7% in 2024, slightly up from the 15.5% actual growth in 2023.
Similarly, China is expected to see a growth rate of 22.0% in 2024, compared to 21.5% in the previous year. These figures underscore the sustained demand for contract staffing in these countries.
Contrasting trends in other Asian markets
In contrast, other major Asian markets, such as Hong Kong, Japan, and Singapore, are expected to experience lower levels of growth in contract staffing in 2024.
This divergence highlights the varying economic and labor market conditions across the region.
Permanent hiring outlook
When it comes to permanent hiring, the trends are mixed. Thailand, Singapore, and Japan anticipate increases in permanent hiring in 2024 compared to 2023.
However, China, Malaysia, and Hong Kong are expected to see downturns in permanent hiring for the same period.
Employer confidence across Asia
Across Asia, employer confidence in the hiring outlook remains varied. According to the Hays report, 8.7% of employers are ‘very confident’ in their hiring outlook, while 51.0% are ‘confident’.
On the other hand, 3.7% of employers are ‘not at all confident’, and 36.6% are ‘not very confident’. This mixed sentiment reflects the broader economic uncertainties and challenges faced by employers in the region.
AI in recruitment processes
The Hays data also sheds light on the use of artificial intelligence (AI) in recruitment processes. A significant 39.9% of employers reported that they do not use AI and have no plans to do so in the next year.
Nearly a quarter (22.9%) said AI use is minimal and used sparingly, while 22.3% are looking to explore AI within the next year. Additionally, 12.3% of employers use AI moderately in specific stages of the recruitment process, and 2.6% rely heavily on AI throughout the process.
