4 Global Hiring Trends in Asia 2023
Global Hiring Trends have changed rapidly？ For those of us who have worked from home in the past two years, “work from home” (WFH) is a well-known term. Since we are heading to endemic and getting back to normalcy, what are the upcoming global hiring patterns in Asia that will soon or continue to happen?
As the term implies, global hiring trends would change from time to time. For your recruitment efforts to have good results, your company has to find ways to stay on top of hiring trends and hire the best talents in the market.
So, what is happening and changing the new Human Hiring Trends in Asia now?
Let’s take a look at 4 Global Hiring Trends we found in Asia for 2023
1. Strong Demand for Digital Competence Staff
WFH (Work from home) is undoubtedly a keyword that all of us have somehow experienced in the past two to three years. Digital competency skills are no longer a good to have factor from an employer’s perspective in hiring. We have no choice but to embrace the digital revolution and improve our digital skills to capitalize on the possible financial benefits it may bring to our business.
Then, We would like to feature Indonesia as a representative example that has suffered tremendously from a shortage of workers with digital competency. Let you know what is the situation right now.
Indonesia has lost approximately 442 billion USD which has caused a detrimental effect stopping economic growth by 19%. The fundamental cause of this crisis is the labour shortage of getting staff who are digitally competent. 17.2 million Indonesians are aware of their deficiencies and request digital-related training.
As a result, the Greater Industry 4.0 adoption is one of the crucial government initiatives to accelerate digital growth in Indonesia to train more than 400,000 workers to support digital transformation. This initiative is expected to increase company productivity by 40 to 70 per cent, generate 20 million new jobs, and add $120 billion in revenue1 to the country’s annual productivity.
Here is a question for you, why is Indonesia’s economy affected so severely? Generally, there are 63 million MSMEs (micro, small, and medium-sized enterprises) in Indonesia that account for 60 per cent of the country’s GDP and 97 per cent of the employment. However, if we look at the digital readiness of the country, Indonesia has implemented only 21 per cent of industry 4.0 technologies compared with 40% in Japan and 56% in China.
2. Increasing Need to Hire Cybersecurity Professionals
Cyber security should be the associated trend to safeguard your company’s digital transformation endeavour, given that digital demanding change is required from point 1. Research from Trend Micro revealed that 62% of C-suites would only take action to look into the company’s cyber risk if the organization has suffered from a breach2, 61% will do so if their customers demand enhanced security.
According to the study of KPMG, there are over 10,000 cyber security incidents reported in Malaysia in the year 2021. Companies will be at a higher risk of being targeted by hackers if they continue to respond reactively rather than proactively. While business expansion and customer acquisition are important, investing in cyber security can cause devastating losses to your company, it is considered a major business risk rather than an IT problem.
If cyber security is a future focus, we will foresee an increased demand for security experts such as security analysts, cyber threat intelligence analysts, security architects, and cyber threat analysts. In fact, according to cyber security ventures, Malaysia targets to employ 20,000 cyber security professionals3 by the year 2025 to meet the rising demand for artificial intelligence, big data, and online transactions.
Most of the cyber security employees working in large enterprises in South East Asia are from India or China. Therefore, there is a need to look for more local talent, especially when the global competition is getting more competitive, and are inviting this group of talent pool to return home and leave Southeast Asia.
3. Freelancing and Flexible Work Arrangements
We know that the impact of China on the world is undeniable, especially in dominating the global supply chain. However, many companies from Asia have started to in-source parts of their manufacturing by relying less on China’s manufacturing due to the extensive and multiple shutdowns implemented by China to reach zero-covid cases in the year 2022.
China’s strategy of constant shutdowns has caused an economic slowdown and a reduction in recruitment budgets, which has further reduced job opportunities. This has contributed to more than 200 million freelancers and remote workers in the working population in China. Furthermore, more than 10.76 million graduates are graduating this year4, this will add further pressure to China’s job market outlook.
On the other hand, India, a country with high technology innovation, has created up to 90 million gig job opportunities5 opening the doors to the gig economy and for workers who wish to earn extra from part-time jobs.
What we see from this trend is that allowing flexible job options, such as a hybrid workplace instead of just providing employees with a comfortable office space with pleasant renovations and a positive work environment. The benefits of flexible working schedules and flexible workplaces outweigh a lot of benefits that HR leaders should take note of if the aim is to enhance the employee’s work-life balance.
4. The Future of Remote Work
Definitely, the Future of the working model. Despite the weakening economy and gloomy job market, the younger generation in China is more in favour of freelancing jobs to gain more autonomy and enjoy the perks to work from anywhere they want. The younger generation would rather find a job with flexible work hours, doing things they love than trade their lives for money.
As such, the term “lying flat”, which in Chinese refers to doing something with the least amount of effort and spending the l east amount of money has gained huge traffic searches and captured numerous headlines this year. Hence, there is a call for action for companies to provide flexible work benefits such as hybrid work models to stay competitive in the market.
On the other hand, China has grown five (5) times larger in size in its E-commerce industry sector, which offers the younger population a much better job alternative. This is an important message for traditional companies that do not allow a hybrid working option.
If the minimalist and “lying flat” concept is getting more popular, there is a need to call for action for companies to offer more flexible work schedules, especially to compete with the e-commerce industry. So, that’s why remote jobs will be a hiring trend going forward.
How can AYP help with these hiring trends in Asia?
- We are a data-driven HR technology company. By collaborating with us, we will assist you to attract digitally competent staff.
- We have an HR solution for you to mitigate your risk of suffering cyber-attacks.
- We support remote work in Asia. Our main vision is to help clients to hire anyone from anywhere even without setting up an entity in the targeted country.
- Get access to global talents and enable them to work remotely, improve diversity and inclusion through cross-country collaboration with our help.
- Assist your HR department to achieve cost-effective hiring and expand to new markets quickly!
This is where having a solution like AYP will be particularly helpful. AYP Global Pay is a single digital platform that offers both Professional Employer Organization (PEO) and Employer of Record (EOR) solutions. With a single dashboard, you can easily collect data, access all of the HR features, and track your HR metrics for your business needs. Most importantly, identify hiring trends in the Asia Pacific. Schedule a demonstration section with us to learn more today!