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Procurement & Supply Chain Market Overview
A year in review…
The Procurement & Supply Chain market has remained relatively stable over the past year, with industries such as Property & Construction and Manufacturing continuing to hire new employees in areas such as Logistics, Warehouse and Procurement.
2013 was a difficult year for Freight Forwarding and Logistics companies however, which are now focusing on recruiting strong sales professionals in order to increase business growth. As a result we have seen a rise in demand for business process improvement and solutions design positions within the Freight Forwarding industry and a greater demand for strong Sales / Business Development Managers, with strong networks in the APAC region.
Challenges to overcome…
With increasing cost pressures due to the European and American economies, companies are focusing more on process improvement and LEAN operation design. Professionals with technical experience in six sigma, engineering and cost optimisation are growing in demand.
Companies are continuing to move operations to China and Singapore which leads to fewer opportunities in Hong Kong and some employees have to seek new jobs as a result. As business becomes more competitive and companies look to differentiate themselves, employers especially in Freight Forwarding, are seeking experienced sales professionals who appear in limited supply in the market.
With the continued influx of talent from overseas, competition among job seekers is very high. However local language skills are still in high demand within the industry, creating a barrier for some international candidates.
Talent pool vs. demand…
There is a strong pool of candidates in Hong Kong who are actively seeking new positions in Procurement & Supply Chain, giving employers more choice but increasing competition among job seekers. Those with technical or analytical skills will be in high demand as well as those with regional project management and consulting experience.
Over the next year we are likely to see small salary increments of up to 10% and professionals with those sought after skills attracting the higher packages, along with those working in Property & Construction, Pharmaceutical and FMCG industries.
Hiring is likely to remain steady throughout 2014 as the Asian economy continues to grow. Employers will need to offer strong packages including monetary and non-monetary benefits in order to attract and retain the best talent. Job security, career development, challenging job roles and management responsibility are among the key motivational factors for employees.
Candidates on the other hand will need to provide working examples of achievements and positive outcomes which have benefited their employers in order to stand out from the competition.