Online hiring grows rapidly in Asia — new report
ONLINE job posts have several benefits.
They help companies reach out to a large audience, make it easy to find candidates they wouldn’t ordinarily be able to reach via an ad on their own website, and help attract the best and most talented candidates in the market.
As a result, online hiring activity in sectors such as IT, telecom, BFSI, advertising, and oil & gas are seeing double-digit growth according to the Monster Employment Index.
Trends suggest that recruiters, irrespective of size or market capitalization of their company, are increasingly looking for candidates online. It’s where all candidates are, irrespective of their industry or experience.
According to the Index, Singapore, Malaysia, and the Philippines see quite strong online hiring growth in certain sectors.
Here’s a summary of last month’s online hiring activity in the three markets, and how they fare compared to November 2017 figures.
Massive growth in online hiring in the Philippines
Online hiring in the Philippines has been consistently positive for the past few months and this trend continued in November.
The country saw an impressive 23 percent year-on-year jump in online recruitment between November 2017 and 2018, according to findings from the Monster Employment Index (MEI).
In terms of industries, retail led the way for growth in the Philippines with a 38 percent annual growth this November, maintaining it’s consistent positive uptrend since August 2017.
This was closely followed by healthcare with an impressive 33 percent year-on-year growth.
Other industries such as hospitality, BFSI, and advertising also saw notable growth numbers of 26 percent, 25 percent, and 21 percent year-on-year, respectively.
The only industry to record a decline out of the 12 industries monitored by the Index was education with a 5 percent drop between November 2017 and 2018, up by 3 points from October’s 8 percent yearly drop rate.
IT and BFSI lead online hiring in Singapore
According to Monster, online hiring in Singapore experienced a rise last month, recording a 5 percent year-on-year growth between November 2017 and 2018.
This is a significant rise of 4 points from October’s 1 percent rate, reflecting a positive uptrend.
Leading from the forefront with a whopping 22 percent year-on-year growth were the IT, telecom, and BPO/ITES industry, witnessing the steepest growth since March 2018.
Other industries driving this growth were BFSI and advertising, up 16 percent and 15 percent year-on-year, respectively.
While BFSI has always propelled Singapore’s employment landscape from the forefront, advertising witnessed double-digit growth for the first time in eight months.
On the flip side, industries that saw a decline in online hiring from November 2017 were hospitality, shipping/marine, consumer goods, and healthcare, with 4 percent, 3 percent, 2 percent, and 1 percent year-on-year drop, respectively.
IT, telecom, BPO, and oil & gas jobs grow in Malaysia
Online hiring activity in the BFSI industry has been on a plunge since January 2018, recording yet another double-digit decline in November at minus 12 percent year-on-year, according to the latest figures.
In correlation with the sluggish hiring sentiments in the BFSI sector, finance & accounts job roles also saw the most-notable annual decline among occupation categories, down 10 percent year-on-year.
This marks the ninth consecutive month of decline for the role.
Malaysia also registered nine straight months of decline in overall online recruitment activity, down 5 percent year-on-year in November.
The ‘IT, telecom/ISP and BPO/ITES’ and oil & gas industries were yet again the only ones that exhibited growth, up 28 percent and 16 percent year-on-year, respectively. On a 6 month-basis, both sectors also recorded strong growth, up 35 percent and 16 percent respectively.