The report surveyed hiring intentions of companies in different sectors across the SAR. Of the respondents from media/advertising/PR, 69 per cent said they were planning to increase headcount, more than in any other sector. The remaining 31 per cent said they would maintain current headcount.
In Q4 2008, just 18 per cent of respondents anticipated growth in headcount.
The figures suggest Hong Kong's media industry is looking to rebuild as confidence returns, though some executives warned a sudden rush to hire could pose problems.
"Experience shows that when the economy is starting to pick up, there is a significant increase in talent movement and upward pressure on salaries. We saw that happen after the 1997 Asian Financial Crisis. It is crucial that agencies retain their best people before things starting to pick up," said Ian Thubron, executive VP at TBWA Asia-Pacific and CEO, TBWA Hong Kong.
He added: "Agency managers have focused on reduction in revenue with the pressure of the financial crisis in the past 18 months, and have not focused on their staff."
Respondents in the consumer, IT, manufacturing and industrial sectors were more confident about finding local talent for senior positions than those in media/PR/advertising, banking and financial services, and legal.
Mark Carriban, Hudson's managing director, Asia, commented: “Hiring expectations continue to rise at an accelerating rate. Overall, expectations are higher than they were a year ago and it now seems that the ‘green shoots’ are here to stay.”
Hong Kong's media/advertising/PR industry is far more aggressive about hiring intentions than its counterparts in Singapore and China, also included in the survey.
In Singapore, 18 per cent of firms said they would increase headcount, with 73 per cent vowing to keep it stable and nine per cent anticipating more cuts. However, there are signs of improvement - in the third quarter 24 per cent said they were planning staff cuts.
In China 17 per cent of respondents said they would increase headcount, with 81 per cent keeping staff numbers stable. Just two per cent are planning cuts, compared with 17 per cent in Q3.
