Japans Improved Market Confidence Generating Recruitment Activity
Japan’s Improved Market Confidence Generating Recruitment Activity
The Japanese government’s Abenomics fiscal strategy improved market confidence, which contributed to an increase in recruitment activity according to the 2013 Robert Walters Half-year Market Update. With the backdrop of the Japanese government's proposed economics reforms and relatively improved corporate confidence in quarters one and two, employers hired in larger volumes compared to last year and more professionals sought opportunities with new companies.
Employers hired across a range of functions to support growing business and increased lending volumes by banks in Japan. To manage the rise in transactional activity, financial institutions sought experienced credit risk and counter-party risk legal professionals. Financial data providers also strengthened their risk functions by seeking financial engineers with risk management experience.
The manufacturing sector in particular experienced increased recruitment activity due to the positive market sentiment. During the first half of 2013, demand for exported products increased as a result of a depreciated yen and rising production costs in China and Malaysia. Manufacturers sought more sales professionals, program managers and technical engineers to support the growth in business activity, particularly at the junior and mid levels.
Despite the increase in business volume, many employers remained cautious about the recovery’s long-term sustainability. To avoid over hiring permanent staff, companies employed contract professionals to support the increase in day-to-day transactions. Companies especially sought accountancy contractors with costing, accounts payable and receivable and general ledger experience.
Nathaniel Pemberton, Associate Director for Robert Walters Osaka said:
"We expect the positive sentiment to remain through the second half of 2013, which should lead to sustained hiring in Japan. Improved confidence should contribute to more companies looking to hire, along with more workers actively looking to change jobs. Industries relying heavily on exports such as automotives, electronics and new energy are anticipated to recruit the most actively if business continues to improve."